Rialto Capital Advisors - Special Servicer

Loan has recently transferred to SS due to a non-monetary default stemming from the Borrower's non-compliance with Cash Management. PNL and Hello letter sent 2/26/2025. Awaiting execution by Borrower while SS evaluates the loan and colla teral in order todetermine the next steps. Borrower has stated it would like to dispo the asset.

Borrower filed chapter 11 bankruptcy on 6/26/24. Borrower and Lender have negotiated a court-approved plan to sell all collateral, with an anticipated closing in late 2025. Marketing is ongoing.

Latest rent roll reports occupancy at 44%. The asset transferred to Special Servicing in early 2024 due to imminent default. There is insufficient cash flow to make debt service and pay ongoing operating expenses. The property is now due for its March 1, 2025, payment. The cash flow waterfall has been amended to allow for the payment of ongoing operating expenses prior to scheduled debt service to assure ongoing operations are not impacted. Discussions on a potential modification of the debt have continued with borrower representatives, but foreclosure will be pursued if no resolution is forecasted.

The Loan transferred to Special Servicing in February 2022 due to Imminent Monetary Default related to the dark Kmart space. The Loan is in cash management and is payment current. Special Servicer is monitoring property operations and

Borrower requested to be transferred to Special Servicer to negotiate a potential Deed in Lieu of Foreclosure. Guarantor passed away. Borrower/Executor of the Estate has failed to replace the Guarantor. Special Servicer engaged legal counsel

The Loan transferred to special servicing on 1/4/2024 due to payment default. Special Servicer is currently evaluating the loan and collateral. PNL has been signed. Default letter has been sent. Lender is dual tracking negotiations with the legal process . Borrower is trying to consolidate Lender's collateral into a separate non-collateral bankruptcy. Counsel is engaged and fighting this motion to consolidate. Borrower consented to receivership. Lender is working with Homes entity and lenders for a joint resolution. Lender is waiting for court approval from the Homes entity.

Loan transferred to special servicing for Imminent Monetary Default due to a major lease expiration in 10/2023; the tenant subsequently renewed in Q1 2023. The Loan is in cash management and payment current. Special Servicer is monitoring leasing activity and property performance and a lease approval request is being evaluated.

The Loan transferred for Imminent Monetary Default at the Borrower's request as a result of the Covid-19 pandemic. The Loan is in payment default. Lender is dual tracking negotiations with the legal process and a foreclosure was filed. Receiver has the property on the market for a sale. Lender continues to monitor the receivership sale and expects a payoff by the end of the summer. Lender is dual tracking with the foreclosure process.

Loan transferred to special servicing on 5/20/2025 due to borrower-declared imminent monetary default. Special servicer is attempting to make contact with the borrower parties.

The loan transferred to Special Servicing on 9/18/2024 subsequent payment default. Special Servicer has reached out to the borrower and requested due diligence items. Borrower has been non responsive. Lender is working towards receivership and foreclosure. Receivership hearing is scheduled for June 5, 2025.