Rialto Capital Advisors - Special Servicer

Loan has recently transferred to SS, we are attempting to reach out to the borrower(s).

Loan transferred on 5/29/2025 for related events of default. Special Servicer is reaching out to the Borrower.

The Loan transferred due to Monetary Default as a result of the Covid-19 pandemic. Borrower and Lender entered into a forbearance agreement effective 10/29/21. Special Servicer has sent a bring current statement to the Borrower to settle outstanding amoun ts. As of May 2025, Special Servicer has followed-up with Borrower's intentions with the upcoming maturity date in August 2025.

6/11/2025 - Loan transferred to special servicing due to payment default. Borrower has not executed the Pre-Negotiation Letter. Borrower stopped depositing rents into the CMA account, which is an additional event of default. The Loan has been accel erated. A foreclosure complaint was filed and receivership papers were also filed. A Receiver was appointed on 11/22/2023. There have been no offers from the borrower and Special Servicer continues to pursue a foreclosure strategy. Borrower attempted to r emove the case to state court; their motion has been denied. Lender has filed a MSJ; discovery remains ongoing. Parties looking to mediate.

6/11/2025 - The Loan transferred on 6/6/2024 due to payment default. Borrower and Lender are exchanging proposals for a potential workout

6/11/2025 - The loan transferred to Special Servicing on 11/05/2024. Borrower did not execute the PNL. SS has engaged counsel and its evaluating the Loan and its collateral. Default letter has been sent to the borrower. Borrower has provided eviden ce the lien has been release. Ongoing discussions with counsel regarding a settlement agreement.

The subject collateral consists of a 14,406 single tenant shopping center located in Waterbury, CT, built in 2002. Loan is delinquent for 3/6/2025, 4/6/2025, and 5/6/2025 payments. Borrower has failed to provide financial statements since 12/31/202 3. Lockbox active due to an Anchor Tenant Trigger Event caused by Walgreen’s credit rating falling below investment grade. Loan returned from special servicing as of 3/10/2025.

The Loan transferred to Special Servicing on 6/17/24. Special Servicer sent a Hello Letter and Borrower executed a Pre-Negotiation Letter. Wells Fargo is corresponding with Borrower and counsel to finalize set up of accounts.

The Loan transferred to Special Servicing on 6/17/24. Special Servicer sent a Hello Letter and Borrower executed a Pre-Negotiation Letter. Wells Fargo is corresponding with Borrower and counsel to finalize set up of accounts.

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 monitort he pending capex-leasing funding, which remains outstanding as of 2/27/2024. Borrower has negotiated an extension of TI obligations with tenant, Benesch. Current property occupancy is 89.5%.