LNR Partners - Special Servicer

Loan transferred as a SS on 8/29/2024 for imminent default. Subject is the 160-key Holiday Inn Milwaukee River, Milwaukee WI. When Loan was with Lender as NT58462, Lender and Master Servicer received an 8/19/2024 notice from Borrower's Third-Party Ad visor of Borrower's request for an orderly transfer of the Hotel to Lender due to Borrower's unwillingness to fund operating cash short fall on a go forward basis. Trust and Local Counsel have been retained. Lender is dual tracking remedy discussion with Counsels. Waterfall funding reordered. Notice of Payment sent to Borrower for 12/2024 monthly payment. Notice of Default sent to Borrower. Receiver is in place.

6/11/2025 - Loan transferred to the Special Servicer on 8/26/2024 due to various ongoing defaults (Guarantor voluntary Bankruptcy Ch 11 filing and a Sequestrator appointed in favor of Shin Da Enterprises at the Property). Collateral consists of a 9-story, 95-unit (incl. 3 units leased to SoSuite Inc. for short-term rentals), multifamily complex located in the Callowhill submarket of Philadelphia. NOI/DSCR/Occ/DY: 3Q23 $1.31MM/0.83x/82%/4.8%. Updated financials are pending receipt. A Notice of Default and Reservation of Rights were sent. The Lender filed its Motion to Intervene and Proof of Claim regarding the various litigation. The Special Servicer will gather additional information and simultaneously discuss workout strategies deemed appropriate to achi eve the highest net present value recovery.

Due to drop in occupancy cash flow has declined and is not significant to cover debt service and operating expenses. The Borrower has indicated they do not have funds to carry the property, so willing to cooperate with the lender to take back

"6/10/2025 - Loan transferred to Special Servicer on 2/14/2025 due to delinquent payments. Loan is due for the 12/6/2024 payment. Borrower stated that at time of origination, the Property was 100% leased but not 100% occupied due to multiple units still needing t o be inspected and approved by the veteran administration as well as the elevator not being operable. Tenants started moving into the Property in December 2024 and the Property currently has 36 units occupied out of 37 (97% occ) however, Borrower is still waiting on the monthly rent payment from 15 tenants. Borrower provided a proposal to reinstate the Loan which Lender is reviewing. Borrower and Loan Guarantor triggered full recourse pursuant to the Loan Agreement due to failure to pay the firs t four (4) consecutive Monthly Payments following the closing of the Loan. Counsel was retained and Lender is reviewing enforcement remedies while continuing discussions with the Borrower and Loan Guarantor. The Property is a Class A midrise apartment building totaling 37 units in Washington, DC built in 2024. The subject is part of the HUD-VASH Program, a partnership between the U.S Department of Housing and Urban Development (HUD) and the Department of Veteran Affairs. The subject is 100% lea sed to vet erans for three-year terms using tenant vouchers issued by the HUD-VASH program."

The loan transferred to Special Servicing effective 9/6/2024 for imminent monetary default. The subject is a 691,705 SF complex located in Durham, NC. The complex consists of 10 buildings that were built between 1985 and 1988. A September 2024 site inspection found the asset in good overall condition. The occupancy as of April 2025 is 66%. The December 2024 T-12 NOI DSCR based on the Borrower's unaudited financials was 1.08x. A draft budget for 2025 for all 10 buildings was also received, and it projected a YE 2025 DSCR of less than 1.0x. The Lender is in discussions with Borrower about a loan modification. Terms have not been reached between Lender and Borrower at this time. The special servicer continues to run the payment waterfall as outlined in the loan documents while negotiating a potential modification with the Borrower.

The loan transferred to Special Servicing effective 9/10/2024 for imminent non monetary default. The subject is a 1,156,393 SF suburban office complex comprised of five office buildings located in Westchester, IL, built in 1986 and renovated in 201 6. As of May 2025, the subject is 57.6% leased, down from 64.9% leased in February 2025. This is compared to YE 2023 and YE 2022 leased occupancies of 67.1% and 71.3%, respectively. The decrease in occupancy from February is due to the Property's lar gest tenant signing an amendment to reduce their footprint by nearly 65%, while extending the term on their remaining premises by 7.5 years. A site inspection was completed in November 2025 and reported the Property is in good condition with no obser ved deferred maintenance. One of three pari passu loans. The SS is dual tracking exercise of remedies and discussions with the Borrower regarding a potential loan modification.

"5/5/2025 - REO Title Date: 2/16/21. Description of Collateral: Subject is a 72,991 SF unanchored neighborhood retail center located in Aurora, CO, 10 miles SE of Denver. The property was built in 1980. Collateral is made up of five buildings constructed in 1980 on a 6.99-acre site. Crossed with or is a Companion Loan to: N/A. Deferred Maintenance/Repair Issues: Roof work is being explored. Leasing Summary: See marketing summer as they are linked. Marketing Summary: Property is now listed for sale with CBRE - Denver (Brad Lyons). It has been on hold when two key tenants vacated and occupancy slipped to 84% in late 2023. Signed two new leases to take occupancy back to 91% and we have another lead that could run occupancy up to 96%. The call for offers produced over 10 offers and the high offer was accepted. The buyer fell out of contract at the end of due diligence and we''ve circled a new buyer under very similar terms. The new buyer is now under contract. Terms are 45/30 and they have until early June to complete their DD.

"4/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders. We have received a workout proposal from borrower and are neg otiating. Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."

"4/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders. We have received a workout proposal from borrower and are neg otiating .Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."

"4/11/2025 - The Loan transferred to Special Servicing on 11/22/2024. Special Servicer has entered into Pre-Negotiation Letters with the borrower and with all four mezzanine lenders. We have received a workout proposal from borrower and are neg otiating. Also, all of the mezzanines have expressed an interest in negotiating cure scenarios."