Financial Performance - GAAP Net Loss attributable to common stockholders was $(10.6) million, or $(0.22) per basic common share[8, 13] - Distributable Earnings Loss was $(27.7) million, or $(0.57) per basic common share[7, 8] - Distributable Earnings Loss Before Realized Gains and Losses was $(3.0) million, or $(0.06) per basic common share[7, 8] - Common stock dividend was $0.05 per share[7, 10] - Book Value per Common Share was $8.24[7, 13] Portfolio Overview - Total Loan Portfolio Commitments amounted to $2.0 billion across 50 loan investments[7, 8] - The unpaid principal balance of the loan portfolio was $1.9 billion[26, 37] - The weighted average stabilized LTV at origination was 64.5%[7, 25, 26] - The total CECL reserve was $180.2 million, representing 8.8% of total loan portfolio commitments[7, 8] - Net loan portfolio activity resulted in a decrease of $(161.4) million in unpaid principal balance[8, 24] Capitalization and Liquidity - The company had $85.7 million in unrestricted cash[7, 8, 10] - The total leverage ratio was 2.2x[7, 8, 34] - $2.1 billion financing capacity with $1.4 billion outstanding[7]