Rialto Capital Advisors - Special Servicer

Loan transferred to special servicing following the appointment of an equity receiver on 8/6/2024 as a result of an ongoing partnership dispute. Special servicer's counsel is engaged in discussions with the receiver and has provided a demand

Loan transferred to special servicing following the appointment of an equity receiver on 8/6/2024 as a result of an ongoing partnership dispute. Special servicer's counsel is engaged in discussions with the receiver and has provided a demand

2/11/2025 Loan recently transferred to Special Servicing and Special Servicer reaching out to Borrower. Pre-negotiation letter has been signed and Lender has been in touch with Borrower. Special Servicer has received approval to appoint a receiver to the Property and counsel has prepared the draft pleadings. Receiver and foreclosure complaint expected to be filed in February.

3/11/2025 - The Loan transferred to Special Servicing on 11/30/2023. Special Servicer is working with Borrower to reconcile Excess Cash related to tenancy of Koh''ls in order to return file to MS. Borrower continues to otherwise perform under

3/11/2025 - The Loan transferred to Special Servicing on 1/26/2024 for Imminent Monetary Default. The collateral is a single tenant property. Borrower remains committed to keep the loan current while focusing in leasing activity. Special

3/6/2025 - Loan transferred on February 14, 2024, due to the Borrower''s failure to remit excess cash during the Lease Sweep Period. Special Servicer has reached out to the borrower and is assessing next steps on the asset. Borrower is working to implement tenant direction letters or depositing all funds immediately into the lockbox. Borrower submitted YE budget for review. Borrower is working with the anchor tenant formerly Big Lots to execute a new lease

3/6/2025 - Loan transferred to special servicing 5/13/2024 for Monetary Default. Loan was previously in SS. A reinstatement agreement was completed. Special Servicer is dual tracking settlement discussions and the foreclosure process. Discussions were had regarding a potential assumption but a transaction did not materialize. An NOD has been filed and the foreclosure process continues.

3/6/2025 - Tenant Non-Renewal Trigger occurred. Special Servicer has been monitoring leasing activity and property performance since the major tenant non-renewal. Borrower continues to perform under the terms of the Loan and is currently

3/6/2025 - Borrower indicated it has raised new equity for the property which is expected to fund in Q1 2025. Special Servicer continues to monitor the loan and collateral as well as review any Borrower requests that come in. Special Servicer continues to monitor the pending capex-leasing funding, which remains outstanding as of 2/27/2024. Borrower is negotiating an extension of TI obligations with tenant, Benesch. Current property occupancy is 89.5%.

"3/6/2025 - - Special Servicer, in collaboration with the receiver, reviewed and approved short-term leases prior to the property''s foreclosure on 1/17/2024, after which it became REO. - A short-term tenant remained in occupancy post-foreclosure but vacated on 2/29/2024. - Special Servicer is actively reviewing LOIs from prospective tenants to lease, with asset disposition projected for end of Q2-2025."