# EDGAR Filing Document

**Accession Number:** 0001959172
**File Stem:** 0001193125-26-066342
**Filing Date:** 2026-2
**Character Count:** 167636
**Document Hash:** f1533f25b51df98ee9a26e4adde308e3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-066342.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-066342

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Redwood Private Real Estate Debt Fund
- **CENTRAL INDEX KEY:** 0001959172

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23846
- **FILM NUMBER:** 26669840

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2200

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W. GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Redwood Real Estate Income Fund
- **DATE OF NAME CHANGE:** 20221220

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Redwood Private Real Estate Debt Fund

- **b. Investment Company Act file number:** 811-23846

- **c. CIK number of Registrant:** 0001959172

- **d. LEI of Registrant:** 549300XIZ6J0ZXQMTV96

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 West Galena Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53212

  - **Telephone number:** 4142992270

**Item A.2. Information about the Series.**

- **a. Name of Series:** Redwood Private Real Estate Debt Fund

- **c. LEI of Series:** 549300XIZ6J0ZXQMTV96

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $769040379.65

**Total Liabilities:** $352476161.58

**Net Assets:** $416564218.07

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.64%                | 0.60%                | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $11365.14                | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

**Designated Index Information**

- **Index Name:** 0

- **Index Identifier:** 0

### Schedule of Portfolio Investments

| Name                                                       | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 3467 - 908 Gainesville Property Investors                  | 3467 - 908 Gainesville Property Investors                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.36%             | 2027-10-20      | Variable      | 9.55%                 | Yes           |                  3 | On Loan: No      |
| 3474 - 3532 CPB                                            | 3474 - 3532 CPB                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2088047 | PA      | $2088047.21   | 0.50%             | 2027-10-28      | Variable      | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 3479 - Fisher Land                                         | 3479 - Fisher Land                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    852047 | PA      | $852046.88    | 0.20%             | 2027-11-25      | Variable      | 8.72%                 | Yes           |                  3 | On Loan: No      |
| 3483 - Aventura Harbor Property                            | 3483 - Aventura Harbor Property                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.24%             | 2026-12-16      | Variable      | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 3372 - 3151 NF Owner                                       | 3372 - 3151 NF Owner                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2500000.00   | 0.60%             | 2026-06-05      | Variable      | 10.57%                | Yes           |                  3 | On Loan: No      |
| 3391 - ZDJ W 37                                            | 3391 - ZDJ W 37                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13850125 | PA      | $13850124.76  | 3.32%             | 2027-03-04      | Variable      | 9.22%                 | Yes           |                  3 | On Loan: No      |
| 3394 - Sunnyvale Park Place                                | 3394 - Sunnyvale Park Place                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6000000.00   | 1.44%             | 2027-09-17      | Variable      | 8.72%                 | Yes           |                  3 | On Loan: No      |
| 3397 - Alhambra Circle                                     | 3397 - Alhambra Circle                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2900000.00   | 0.70%             | 2026-03-20      | Variable      | 10.54%                | Yes           |                  3 | On Loan: No      |
| 3398 - 305 Briny                                           | 3398 - 305 Briny                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2010830 | PA      | $2010830.32   | 0.48%             | 2026-09-27      | Variable      | 10.00%                | Yes           |                  3 | On Loan: No      |
| 3399 - BH3 Malibu                                          | 3399 - BH3 Malibu                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5112795 | PA      | $5112795.01   | 1.23%             | 2026-10-30      | Variable      | 8.72%                 | Yes           |                  3 | On Loan: No      |
| 3403 - Rosslyn Senior Participation                        | 3403 - Rosslyn Senior Participation                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3986864 | PA      | $3986864.23   | 0.96%             | 2026-12-10      | Variable      | 10.00%                | Yes           |                  3 | On Loan: No      |
| 3412 - Imagine WV                                          | 3412 - Imagine WV                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6095000 | PA      | $6094999.90   | 1.46%             | 2026-07-24      | Variable      | 10.62%                | Yes           |                  3 | On Loan: No      |
| 3412-02 - Imagine WV                                       | 3412-02 - Imagine WV                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1351272 | PA      | $1351272.20   | 0.32%             | 2026-07-24      | Variable      | 10.62%                | Yes           |                  3 | On Loan: No      |
| 3413 - MTP Paseo Phase III Land                            | 3413 - MTP Paseo Phase III Land                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4631540 | PA      | $4631540.16   | 1.11%             | 2027-03-21      | Variable      | 10.00%                | Yes           |                  3 | On Loan: No      |
| 3422 - Wynwood                                             | 3422 - Wynwood                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4400000.00   | 1.06%             | 2027-03-21      | Variable      | 9.72%                 | Yes           |                  3 | On Loan: No      |
| 3424 - Colony 29 Palm Springs                              | 3424 - Colony 29 Palm Springs                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000000.00   | 0.72%             | 2027-04-07      | Variable      | 10.00%                | Yes           |                  3 | On Loan: No      |
| 3434 - 1 Water Street                                      | 3434 - 1 Water Street                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3426184 | PA      | $3426184.03   | 0.82%             | 2027-04-29      | Variable      | 10.06%                | Yes           |                  3 | On Loan: No      |
| 3454 - 2nd & Steele                                        | 3454 - 2nd & Steele                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8502949 | PA      | $8502948.95   | 2.04%             | 2028-07-14      | Variable      | 9.33%                 | Yes           |                  3 | On Loan: No      |
| 3455J - 140 Hayground Cove Road Partners                   | 3455J - 140 Hayground Cove Road Partners                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3182532 | PA      | $3182532.24   | 0.76%             | 2026-07-30      | Variable      | 17.00%                | Yes           |                  3 | On Loan: No      |
| 3455S - 140 Hayground Cove Senior Partners                 | 3455S - 140 Hayground Cove Senior Partners                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2239349 | PA      | $2239348.54   | 0.54%             | 2026-07-30      | Variable      | 9.97%                 | Yes           |                  3 | On Loan: No      |
| 3461 - Skyline Apartments                                  | 3461 - Skyline Apartments                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.84%             | 2027-03-05      | Variable      | 9.47%                 | Yes           |                  3 | On Loan: No      |
| 3463 - 18 2nd Ave                                          | 3463 - 18 2nd Ave                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $800000.00    | 0.19%             | 2027-03-26      | Variable      | 10.25%                | Yes           |                  3 | On Loan: No      |
| TL Pepperell Mill                                          | TL Pepperell Mill                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5777760 | PA      | $5777759.75   | 1.39%             | 2026-12-23      | Variable      | 19.11%                | Yes           |                  3 | On Loan: No      |
| Fidelity Government Portfolio                              | Fidelity Government Portfolio, Class Institutional         | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   7249766 | PA      | $7249766.23   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| 3326 - Elgny                                               | 3326 - Elgny                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230769 | PA      | $230769.24    | 0.06%             | 2026-04-07      | Fixed         | 10.25%                | Yes           |                  3 | On Loan: No      |
| 3333 - McRopp New York Royal44                             | 3333 - McRopp New York Royal44                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12500000.00  | 3.00%             | 2026-08-30      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| 3335 - Cromwell Inwood                                     | 3335 - Cromwell Inwood                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1300000.00   | 0.31%             | 2026-05-27      | Fixed         | 10.83%                | Yes           |                  3 | On Loan: No      |
| 3340 - San Antonio Palo Alto                               | 3340 - San Antonio Palo Alto                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2978985 | PA      | $2978985.00   | 0.72%             | 2026-06-15      | Fixed         | 11.50%                | Yes           |                  3 | On Loan: No      |
| The Mall at Johnson City                                   | The Mall at Johnson City                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14400000 | PA      | $14400000.00  | 3.46%             | 2028-11-24      | Variable      | 11.13%                | Yes           |                  3 | On Loan: No      |
| TL Mosaika                                                 | TL Mosaika                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4123865 | PA      | $4123865.31   | 0.99%             | 2026-04-30      | Variable      | 13.49%                | Yes           |                  3 | On Loan: No      |
| 3303 - 150 Lefferts                                        | 3303 - 150 Lefferts                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3470000 | PA      | $3470000.00   | 0.83%             | 2026-01-31      | Variable      | 10.00%                | Yes           |                  3 | On Loan: No      |
| 3314 - VM Equities                                         | 3314 - VM Equities                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    884520 | PA      | $884520.00    | 0.21%             | 2026-01-28      | Variable      | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 3341 - Ferncroft                                           | 3341 - Ferncroft                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.96%             | 2026-12-18      | Fixed         | 10.50%                | Yes           |                  3 | On Loan: No      |
| 3344 - 1600 North 11                                       | 3344 - 1600 North 11                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12400000 | PA      | $12400000.00  | 2.98%             | 2026-04-26      | Fixed         | 10.75%                | Yes           |                  3 | On Loan: No      |
| 3349 - Hillcrest Cedar Property Owner                      | 3349 - Hillcrest Cedar Property Owner                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6590000 | PA      | $6590000.00   | 1.58%             | 2026-01-09      | Variable      | 10.75%                | Yes           |                  3 | On Loan: No      |
| 3356 - GK West 47th                                        | 3356 - GK West 47th                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5804630 | PA      | $5804629.67   | 1.39%             | 2026-03-07      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| 3358-01 - 123 Speer Owner                                  | 3358-01 - 123 Speer Owner                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3806482 | PA      | $3806482.20   | 0.91%             | 2026-03-19      | Variable      | 10.25%                | Yes           |                  3 | On Loan: No      |
| 3359-01 - Nalskihouse MT                                   | 3359-01 - Nalskihouse MT                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4791853 | PA      | $4791852.56   | 1.15%             | 2026-10-01      | Fixed         | 11.00%                | Yes           |                  3 | On Loan: No      |
| 3360 - JC Roxy                                             | 3360 - JC Roxy                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.84%             | 2026-03-22      | Fixed         | 10.58%                | Yes           |                  3 | On Loan: No      |
| 3368-04 - Carlisle New York Apartments                     | 3368-04 - Carlisle New York Apartments                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  49100067 | PA      | $49100067.37  | 11.79%            | 2026-05-08      | Variable      | 10.25%                | Yes           |                  3 | On Loan: No      |
| 3371-01 - Greyhawk SSOF Ruckus Lend                        | 3371-01 - Greyhawk SSOF Ruckus Lend                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11500000 | PA      | $11500000.00  | 2.76%             | 2026-05-10      | Variable      | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 102137 - Gill Development                                  | 102137 - Gill Development                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    748000 | PA      | $748000.00    | 0.18%             | 2026-01-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 102535 - TRMF & Associates                                 | 102535 - TRMF & Associates                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51375 | PA      | $51375.38     | 0.01%             | 2025-12-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 102607 - 158 & 160 Eckerson                                | 102607 - 158 & 160 Eckerson                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2820356 | PA      | $2820356.00   | 0.68%             | 2026-04-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 102608 - 158 & 160 Eckerson                                | 102608 - 158 & 160 Eckerson                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2009170 | PA      | $2009170.39   | 0.48%             | 2026-04-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 117082 - Wilton JT                                         | 117082 - Wilton JT                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    909030 | PA      | $909029.67    | 0.22%             | 2026-06-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 117205 - Axon Real Estate Investments                      | 117205 - Axon Real Estate Investments                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1548124 | PA      | $1548124.30   | 0.37%             | 2026-07-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 117241 - 1813-60 Binyan                                    | 117241 - 1813-60 Binyan                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3194728 | PA      | $3194728.24   | 0.77%             | 2026-03-03      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 117318 - 662 Granada St                                    | 117318 - 662 Granada St                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1003790 | PA      | $1003790.50   | 0.24%             | 2026-08-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 118929 - 842 Meadow Creek                                  | 118929 - 842 Meadow Creek                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1180431 | PA      | $1180430.98   | 0.28%             | 2026-07-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 119128 - Burien 10                                         | 119128 - Burien 10                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1299420 | PA      | $1299420.05   | 0.31%             | 2026-09-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 119132 - Burien 10                                         | 119132 - Burien 10                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    858714 | PA      | $858714.17    | 0.21%             | 2026-09-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 119137 - Burien 10                                         | 119137 - Burien 10                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    849509 | PA      | $849509.15    | 0.20%             | 2026-09-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 124986 - MAAS Rehab & Mary Ellen and Mary Lee              | 124986 - MAAS Rehab & Mary Ellen and Mary Lee              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268050 | PA      | $268050.00    | 0.06%             | 2026-07-01      | Fixed         | 9.24%                 | Yes           |                  3 | On Loan: No      |
| 125008 - Maxo Developments                                 | 125008 - Maxo Developments                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $30000.00     | 0.01%             | 2026-07-01      | Fixed         | 8.77%                 | Yes           |                  3 | On Loan: No      |
| 125100 - 8717 S Central                                    | 125100 - 8717 S Central                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4305419 | PA      | $4305418.75   | 1.03%             | 2026-10-01      | Fixed         | 9.15%                 | Yes           |                  3 | On Loan: No      |
| 125112 - Toussaint Ateliers Residences                     | 125112 - Toussaint Ateliers Residences                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $405000.00    | 0.10%             | 2027-07-01      | Fixed         | 9.21%                 | Yes           |                  3 | On Loan: No      |
| 125693 - Damai Resort Investments                          | 125693 - Damai Resort Investments                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1762500 | PA      | $1762500.00   | 0.42%             | 2026-07-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 125694 - Damai Resort Investments                          | 125694 - Damai Resort Investments                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1811250 | PA      | $1811250.00   | 0.43%             | 2026-07-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 125774 - One Star Development                              | 125774 - One Star Development                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1560000.00   | 0.37%             | 2026-07-01      | Fixed         | 8.99%                 | Yes           |                  3 | On Loan: No      |
| 125848 - Highland Park 21                                  | 125848 - Highland Park 21                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3090838 | PA      | $3090838.29   | 0.74%             | 2027-01-01      | Fixed         | 9.39%                 | Yes           |                  3 | On Loan: No      |
| 103771 - Rhino Homes                                       | 103771 - Rhino Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1491421 | PA      | $1491420.97   | 0.36%             | 2026-01-01      | Fixed         | 10.07%                | Yes           |                  3 | On Loan: No      |
| 103772 - Rhino Homes                                       | 103772 - Rhino Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1114719 | PA      | $1114719.09   | 0.27%             | 2026-01-01      | Fixed         | 10.07%                | Yes           |                  3 | On Loan: No      |
| 103980 - KPI Equity Holdings I                             | 103980 - KPI Equity Holdings I                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495498 | PA      | $495498.42    | 0.12%             | 2026-02-01      | Fixed         | 9.69%                 | Yes           |                  3 | On Loan: No      |
| 104356 - RRCap - FA Shingletree                            | 104356 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.14%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 106538 - Eagle OZB I, LP                                   | 106538 - Eagle OZB I, LP                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $780000.00    | 0.19%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 106767 - Torre Projects                                    | 106767 - Torre Projects                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286148 | PA      | $286147.91    | 0.07%             | 2026-08-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107081 - Abode Multifamily Opportunity Fund I              | 107081 - Abode Multifamily Opportunity Fund I              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1387000 | PA      | $1387000.00   | 0.33%             | 2025-09-01      | Fixed         | 9.88%                 | Yes           |                  3 | On Loan: No      |
| 107094 - Grande Vita Homes                                 | 107094 - Grande Vita Homes                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    834592 | PA      | $834591.54    | 0.20%             | 2026-02-01      | Fixed         | 9.43%                 | Yes           |                  3 | On Loan: No      |
| 107180 - 902 8th St                                        | 107180 - 902 8th St                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    358000 | PA      | $358000.00    | 0.09%             | 2026-02-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 107595 - Dolphin Shores Investments                        | 107595 - Dolphin Shores Investments                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1286190 | PA      | $1286190.00   | 0.31%             | 2026-02-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107836 - Mahi Mahi 935                                     | 107836 - Mahi Mahi 935                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1399000 | PA      | $1399000.00   | 0.34%             | 2026-03-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 107891 - 10225 Investments                                 | 107891 - 10225 Investments                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46805 | PA      | $46805.00     | 0.01%             | 2026-06-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 107982 - Nextgen Eaglerock 13                              | 107982 - Nextgen Eaglerock 13                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1656684 | PA      | $1656684.00   | 0.40%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107983 - Nextgen Eaglerock 13                              | 107983 - Nextgen Eaglerock 13                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1684816 | PA      | $1684816.00   | 0.40%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107986 - Nextgen Eaglerock 13                              | 107986 - Nextgen Eaglerock 13                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2429722 | PA      | $2429722.00   | 0.58%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107997 - Mercado Rodriguez                                 | 107997 - Mercado Rodriguez                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102850 | PA      | $102850.00    | 0.02%             | 2026-03-01      | Fixed         | 9.38%                 | Yes           |                  3 | On Loan: No      |
| 108077 - Fifth Avenue Wyn                                  | 108077 - Fifth Avenue Wyn                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1820000.00   | 0.44%             | 2026-03-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 108167 - Lime Builders                                     | 108167 - Lime Builders                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1809405 | PA      | $1809405.22   | 0.43%             | 2026-10-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108184 - Osprey Ocean                                      | 108184 - Osprey Ocean                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2277628 | PA      | $2277628.16   | 0.55%             | 2026-06-01      | Fixed         | 9.18%                 | Yes           |                  3 | On Loan: No      |
| 108203 - Kirkland 7                                        | 108203 - Kirkland 7                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1385000.00   | 0.33%             | 2026-06-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 108252 - Hurricane Construction, Inc.                      | 108252 - Hurricane Construction, Inc.                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1522411 | PA      | $1522410.56   | 0.37%             | 2025-11-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108299 - WTM Construction, Inc.                            | 108299 - WTM Construction, Inc.                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    576317 | PA      | $576316.87    | 0.14%             | 2026-04-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 108301 - WTM Construction, Inc.                            | 108301 - WTM Construction, Inc.                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1347184 | PA      | $1347184.08   | 0.32%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108769 - TRG Inglewood                                     | 108769 - TRG Inglewood                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3609000 | PA      | $3609000.00   | 0.87%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 120293 - 1812 Hunters Glen                                 | 120293 - 1812 Hunters Glen                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1666000 | PA      | $1666000.00   | 0.40%             | 2026-04-01      | Fixed         | 9.03%                 | Yes           |                  3 | On Loan: No      |
| 120294 - IVCM Holdings                                     | 120294 - IVCM Holdings                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    463000 | PA      | $463000.00    | 0.11%             | 2026-04-01      | Fixed         | 8.13%                 | Yes           |                  3 | On Loan: No      |
| 120373 - 46 Fayette                                        | 120373 - 46 Fayette                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1462460 | PA      | $1462460.00   | 0.35%             | 2027-04-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 120604 - GP Ocala VI                                       | 120604 - GP Ocala VI                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    557978 | PA      | $557978.00    | 0.13%             | 2026-10-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| 120680 - 907 Morton St.                                    | 120680 - 907 Morton St.                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    484252 | PA      | $484252.50    | 0.12%             | 2026-04-01      | Fixed         | 9.91%                 | Yes           |                  3 | On Loan: No      |
| 120798 - Basad                                             | 120798 - Basad                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2613577 | PA      | $2613577.13   | 0.63%             | 2026-10-01      | Fixed         | 8.72%                 | Yes           |                  3 | On Loan: No      |
| 120806 - 4848 Fulton                                       | 120806 - 4848 Fulton                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1279204 | PA      | $1279204.27   | 0.31%             | 2026-11-01      | Fixed         | 8.97%                 | Yes           |                  3 | On Loan: No      |
| 120964 - 4-8 E. Springfiled                                | 120964 - 4-8 E. Springfiled                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2307965 | PA      | $2307965.00   | 0.55%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 121021 - Black Marlin Group                                | 121021 - Black Marlin Group                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2604825 | PA      | $2604825.00   | 0.63%             | 2026-10-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 121026 - Sweet Home Advisors                               | 121026 - Sweet Home Advisors                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2865000 | PA      | $2865000.00   | 0.69%             | 2026-05-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 121154 - W. Baker St. Apts                                 | 121154 - W. Baker St. Apts                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    368373 | PA      | $368372.57    | 0.09%             | 2026-10-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 121256 - Corenest Development                              | 121256 - Corenest Development                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    689479 | PA      | $689479.00    | 0.17%             | 2026-03-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121258 - AD Customs                                        | 121258 - AD Customs                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    103484 | PA      | $103484.00    | 0.02%             | 2026-02-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121261 - Watson Recovery Enterprises                       | 121261 - Watson Recovery Enterprises                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46720 | PA      | $46720.00     | 0.01%             | 2026-02-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121262 - LLG Enterprises                                   | 121262 - LLG Enterprises                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    279010 | PA      | $279010.00    | 0.07%             | 2026-03-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121264 - Ground-up Customz/Empower Estates Customs         | 121264 - Ground-up Customz/Empower Estates Customs         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    763016 | PA      | $763016.00    | 0.18%             | 2026-03-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121265 - Pelican Equity Partnership Inc.                   | 121265 - Pelican Equity Partnership Inc.                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    297300 | PA      | $297300.00    | 0.07%             | 2026-02-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121266 - Vertex Custom Homes                               | 121266 - Vertex Custom Homes                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    391392 | PA      | $391392.00    | 0.09%             | 2025-11-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121644 - BJB 1321 Management                               | 121644 - BJB 1321 Management                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2520000.00   | 0.60%             | 2026-05-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 121664 - Platinum Enterprise                               | 121664 - Platinum Enterprise                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    684000 | PA      | $684000.00    | 0.16%             | 2026-08-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 121901 - Black Star Development                            | 121901 - Black Star Development                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1422000 | PA      | $1422000.00   | 0.34%             | 2026-05-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 121917 - Bidwell Commons Townhomes                         | 121917 - Bidwell Commons Townhomes                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1204900 | PA      | $1204900.00   | 0.29%             | 2026-10-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 122126 - Oak View Development                              | 122126 - Oak View Development                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1875732 | PA      | $1875731.52   | 0.45%             | 2026-06-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 122295 - Wolf Contracting                                  | 122295 - Wolf Contracting                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    743919 | PA      | $743918.80    | 0.18%             | 2026-12-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 122563 - Black Star Development                            | 122563 - Black Star Development                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.36%             | 2026-05-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 122571 - Black Star Development                            | 122571 - Black Star Development                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.36%             | 2026-05-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 122718 - Dommus Construction Corp.                         | 122718 - Dommus Construction Corp.                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    756400 | PA      | $756400.00    | 0.18%             | 2026-12-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 122723 - 3302 Park                                         | 122723 - 3302 Park                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275000.00    | 0.07%             | 2026-04-03      | Fixed         | 14.70%                | Yes           |                  3 | On Loan: No      |
| 122724 - 151 S St. NW                                      | 122724 - 151 S St. NW                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275000.00    | 0.07%             | 2026-04-03      | Fixed         | 14.70%                | Yes           |                  3 | On Loan: No      |
| 122840 - HHH Rentals                                       | 122840 - HHH Rentals                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217338 | PA      | $217338.08    | 0.05%             | 2026-07-01      | Fixed         | 9.36%                 | Yes           |                  3 | On Loan: No      |
| 122841 - HHH Rentals                                       | 122841 - HHH Rentals                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365583 | PA      | $365582.86    | 0.09%             | 2026-07-01      | Fixed         | 9.36%                 | Yes           |                  3 | On Loan: No      |
| 123234 - 5225 Connecticut Owner & WE 5225 Connecticut Ave  | 123234 - 5225 Connecticut Owner & WE 5225 Connecticut Ave  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1750000.00   | 0.42%             | 2026-07-28      | Fixed         | 14.70%                | Yes           |                  3 | On Loan: No      |
| 123238 - Prada Home Ventures                               | 123238 - Prada Home Ventures                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12960 | PA      | $12960.00     | 0.00%             | 2026-12-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 123264 - Trailside Oaks Austin                             | 123264 - Trailside Oaks Austin                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1501500 | PA      | $1501500.04   | 0.36%             | 2027-07-01      | Fixed         | 8.77%                 | Yes           |                  3 | On Loan: No      |
| 123304 - Logos Homes                                       | 123304 - Logos Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $280000.00    | 0.07%             | 2027-02-01      | Fixed         | 9.21%                 | Yes           |                  3 | On Loan: No      |
| 123392 - 429 13th St. NE                                   | 123392 - 429 13th St. NE                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6700000 | PA      | $6700000.00   | 1.61%             | 2026-05-01      | Fixed         | 9.70%                 | Yes           |                  3 | On Loan: No      |
| 123411 - RKAI Properties & Baruj Hashem                    | 123411 - RKAI Properties & Baruj Hashem                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286461 | PA      | $286461.00    | 0.07%             | 2027-01-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| 123488 - IDS Construction Company                          | 123488 - IDS Construction Company                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1267467 | PA      | $1267467.05   | 0.30%             | 2026-06-01      | Fixed         | 9.24%                 | Yes           |                  3 | On Loan: No      |
| 123554 - Malo Development Company - Lakota                 | 123554 - Malo Development Company - Lakota                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1241023 | PA      | $1241022.65   | 0.30%             | 2027-01-01      | Fixed         | 8.96%                 | Yes           |                  3 | On Loan: No      |
| 123565 - Duran USA Group                                   | 123565 - Duran USA Group                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     93485 | PA      | $93485.12     | 0.02%             | 2026-12-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| 123689 - VIP Homes                                         | 123689 - VIP Homes                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    214108 | PA      | $214107.83    | 0.05%             | 2026-08-01      | Fixed         | 9.11%                 | Yes           |                  3 | On Loan: No      |
| 123842 - VIP Homes                                         | 123842 - VIP Homes                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89287 | PA      | $89287.35     | 0.02%             | 2026-08-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 123892 - 36 Cyril                                          | 123892 - 36 Cyril                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    709831 | PA      | $709830.61    | 0.17%             | 2027-06-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 123893 - 36 Cyril                                          | 123893 - 36 Cyril                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    773162 | PA      | $773162.32    | 0.19%             | 2027-06-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 123904 - Habitus Coconut Grove F1-C                        | 123904 - Habitus Coconut Grove F1-C                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2579500 | PA      | $2579500.00   | 0.62%             | 2026-07-01      | Fixed         | 8.99%                 | Yes           |                  3 | On Loan: No      |
| 129766 - 608 Walker Road                                   | 129766 - 608 Walker Road                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    293002 | PA      | $293002.23    | 0.07%             | 2027-05-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 130333 - Sunpacific Partners                               | 130333 - Sunpacific Partners                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1728900 | PA      | $1728900.00   | 0.42%             | 2026-11-01      | Fixed         | 8.60%                 | Yes           |                  3 | On Loan: No      |
| 130467 - AAA Milano House Luxury Oceanfront Developer      | 130467 - AAA Milano House Luxury Oceanfront Developer      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $335000.00    | 0.08%             | 2027-06-01      | Fixed         | 8.64%                 | Yes           |                  3 | On Loan: No      |
| 130468 - AAA Milano House Luxury Oceanfront Developer      | 130468 - AAA Milano House Luxury Oceanfront Developer      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $335000.00    | 0.08%             | 2027-06-01      | Fixed         | 8.64%                 | Yes           |                  3 | On Loan: No      |
| 130469 - AAA Milano House Luxury Oceanfront Developer      | 130469 - AAA Milano House Luxury Oceanfront Developer      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $335000.00    | 0.08%             | 2027-06-01      | Fixed         | 8.64%                 | Yes           |                  3 | On Loan: No      |
| 131434 - The OG Group                                      | 131434 - The OG Group                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1623500 | PA      | $1623500.00   | 0.39%             | 2027-04-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 131914 - Hallmark Building Corporation                     | 131914 - Hallmark Building Corporation                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3100000.00   | 0.74%             | 2026-10-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 132384 - Humble Pride Lovedale LP                          | 132384 - Humble Pride Lovedale LP                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    308000 | PA      | $308000.00    | 0.07%             | 2027-06-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 132561 - 950 NW Apartments                                 | 132561 - 950 NW Apartments                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    662400 | PA      | $662400.00    | 0.16%             | 2027-03-01      | Fixed         | 8.76%                 | Yes           |                  3 | On Loan: No      |
| 132620 - Evol Holdings                                     | 132620 - Evol Holdings                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $350000.00    | 0.08%             | 2026-12-01      | Fixed         | 8.76%                 | Yes           |                  3 | On Loan: No      |
| 132990 - D&G Luxury Management                             | 132990 - D&G Luxury Management                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $585000.00    | 0.14%             | 2027-04-01      | Fixed         | 8.48%                 | Yes           |                  3 | On Loan: No      |
| 133332 - Probiz Estate Investment HOL2                     | 133332 - Probiz Estate Investment HOL2                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3160000 | PA      | $3160000.00   | 0.76%             | 2027-05-01      | Fixed         | 8.60%                 | Yes           |                  3 | On Loan: No      |
| 133721 - JBN Property Investments                          | 133721 - JBN Property Investments                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59061 | PA      | $59061.25     | 0.01%             | 2027-02-01      | Fixed         | 8.48%                 | Yes           |                  3 | On Loan: No      |
| 133822 - Sanctuary Parcel 1                                | 133822 - Sanctuary Parcel 1                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    955000 | PA      | $955000.00    | 0.23%             | 2027-03-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133823 - Sanctuary Parcel 1                                | 133823 - Sanctuary Parcel 1                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1055000.00   | 0.25%             | 2027-03-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133824 - Sanctuary Parcel 1                                | 133824 - Sanctuary Parcel 1                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1025000.00   | 0.25%             | 2027-03-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133826 - Sanctuary Parcel 1                                | 133826 - Sanctuary Parcel 1                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1055000.00   | 0.25%             | 2027-03-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133827 - Sanctuary Parcel 1                                | 133827 - Sanctuary Parcel 1                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1055000.00   | 0.25%             | 2027-03-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133874 - Magnolia PDI                                      | 133874 - Magnolia PDI                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600754 | PA      | $1600753.82   | 0.38%             | 2027-03-01      | Fixed         | 8.64%                 | Yes           |                  3 | On Loan: No      |
| 134546 - Stocks and Investments                            | 134546 - Stocks and Investments                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220500 | PA      | $220500.00    | 0.05%             | 2027-03-01      | Fixed         | 8.26%                 | Yes           |                  3 | On Loan: No      |
| 134743 - Crestar Homes Corp                                | 134743 - Crestar Homes Corp                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    606000 | PA      | $606000.00    | 0.15%             | 2027-12-01      | Fixed         | 8.64%                 | Yes           |                  3 | On Loan: No      |
| 134771 - XGlobal3 Investments                              | 134771 - XGlobal3 Investments                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    920000 | PA      | $920000.00    | 0.22%             | 2027-06-01      | Fixed         | 8.51%                 | Yes           |                  3 | On Loan: No      |
| 134772 - Seither & Associates Investment Group and Ezyres  | 134772 - Seither & Associates Investment Group and Ezyres  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    344535 | PA      | $344535.08    | 0.08%             | 2027-06-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 134998 - 3A BC Homes                                       | 134998 - 3A BC Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $415000.00    | 0.10%             | 2027-06-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 134999 - 3A BC Homes                                       | 134999 - 3A BC Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $580000.00    | 0.14%             | 2027-07-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 135023 - R&R Casitas                                       | 135023 - R&R Casitas                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1177712 | PA      | $1177712.00   | 0.28%             | 2026-12-01      | Fixed         | 8.26%                 | Yes           |                  3 | On Loan: No      |
| 135354 - 3216 Butler Bay                                   | 135354 - 3216 Butler Bay                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2061957 | PA      | $2061957.14   | 0.49%             | 2027-03-01      | Fixed         | 8.26%                 | Yes           |                  3 | On Loan: No      |
| 135442 - Treweek Construction                              | 135442 - Treweek Construction                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35730 | PA      | $35730.49     | 0.01%             | 2026-12-01      | Fixed         | 8.14%                 | Yes           |                  3 | On Loan: No      |
| 135513 - Beachside Dev Holdings                            | 135513 - Beachside Dev Holdings                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    946000 | PA      | $946000.00    | 0.23%             | 2027-03-01      | Fixed         | 8.14%                 | Yes           |                  3 | On Loan: No      |
| 135587 - Fenix-Orion                                       | 135587 - Fenix-Orion                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1390000.00   | 0.33%             | 2026-12-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 111108 - Vesta Investments                                 | 111108 - Vesta Investments                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1980703 | PA      | $1980702.73   | 0.48%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 111792 - 88th Street Homes                                 | 111792 - 88th Street Homes                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    617865 | PA      | $617865.26    | 0.15%             | 2026-07-01      | Fixed         | 9.48%                 | Yes           |                  3 | On Loan: No      |
| 111801 - Ronpache Investments and Trade                    | 111801 - Ronpache Investments and Trade                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    216450 | PA      | $216450.00    | 0.05%             | 2026-06-01      | Fixed         | 9.18%                 | Yes           |                  3 | On Loan: No      |
| 111834 - Red Cedar Development                             | 111834 - Red Cedar Development                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1054794 | PA      | $1054794.00   | 0.25%             | 2026-11-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 114043 - 5913 Lubao Ave                                    | 114043 - 5913 Lubao Ave                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1999263 | PA      | $1999263.43   | 0.48%             | 2026-07-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 114069 - 4940 Cherry                                       | 114069 - 4940 Cherry                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1525969 | PA      | $1525968.96   | 0.37%             | 2026-06-01      | Fixed         | 9.04%                 | Yes           |                  3 | On Loan: No      |
| 114071 - 3144 Elizabeth                                    | 114071 - 3144 Elizabeth                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2339950 | PA      | $2339949.68   | 0.56%             | 2026-07-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| 114193 - 541 Normandy 2024                                 | 114193 - 541 Normandy 2024                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    840953 | PA      | $840953.33    | 0.20%             | 2026-06-01      | Fixed         | 8.79%                 | Yes           |                  3 | On Loan: No      |
| 83824 - 2511 NW 25 Ave.                                    | 83824 - 2511 NW 25 Ave.                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1684051 | PA      | $1684050.54   | 0.40%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91530 - RRCAP-FA Blume Road                                | 91530 - RRCAP-FA Blume Road                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4888828 | PA      | $4888828.23   | 1.17%             | 2026-01-01      | Fixed         | 10.55%                | Yes           |                  3 | On Loan: No      |
| 91574 - A5 International Properties                        | 91574 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184597 | PA      | $184596.92    | 0.04%             | 2025-10-01      | Fixed         | 10.31%                | Yes           |                  3 | On Loan: No      |
| 91575 - A5 International Properties                        | 91575 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184923 | PA      | $184923.46    | 0.04%             | 2025-10-01      | Fixed         | 10.31%                | Yes           |                  3 | On Loan: No      |
| 98803 - Moon Equities                                      | 98803 - Moon Equities                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3057872 | PA      | $3057872.08   | 0.73%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98834 - 1770 Bay Blvd.                                     | 98834 - 1770 Bay Blvd.                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3997500 | PA      | $3997500.00   | 0.96%             | 2026-01-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 99183 - 331 N. Olive St. Holding                           | 99183 - 331 N. Olive St. Holding                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1424999.99   | 0.34%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 99269 - 1688 Sunset Plaza Drive Partners                   | 99269 - 1688 Sunset Plaza Drive Partners                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2235321 | PA      | $2235321.18   | 0.54%             | 2025-12-01      | Fixed         | 10.07%                | Yes           |                  3 | On Loan: No      |
| 114909 - Loitzk Batim 930                                  | 114909 - Loitzk Batim 930                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    879114 | PA      | $879114.18    | 0.21%             | 2026-07-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 114913 - Loitzk Batim 930                                  | 114913 - Loitzk Batim 930                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    879114 | PA      | $879114.18    | 0.21%             | 2027-01-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 114914 - Loitzk Batim 930                                  | 114914 - Loitzk Batim 930                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1460167 | PA      | $1460166.99   | 0.35%             | 2026-07-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 114920 - Loitzk Batim 930                                  | 114920 - Loitzk Batim 930                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    789014 | PA      | $789014.18    | 0.19%             | 2027-01-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 114921 - Mayar International                               | 114921 - Mayar International                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    829960 | PA      | $829959.86    | 0.20%             | 2026-06-01      | Fixed         | 8.71%                 | Yes           |                  3 | On Loan: No      |
| 115004 - 2k Development                                    | 115004 - 2k Development                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2712030 | PA      | $2712030.03   | 0.65%             | 2026-08-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 115011 - 4115 Shadyglade                                   | 115011 - 4115 Shadyglade                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2812500 | PA      | $2812500.00   | 0.68%             | 2026-07-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 115081 - Macedo Property Development                       | 115081 - Macedo Property Development                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    362304 | PA      | $362304.00    | 0.09%             | 2026-07-01      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| 115108 - Pronghorn Development                             | 115108 - Pronghorn Development                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73500 | PA      | $73500.00     | 0.02%             | 2026-02-01      | Fixed         | 9.67%                 | Yes           |                  3 | On Loan: No      |
| 115109 - Pronghorn Development                             | 115109 - Pronghorn Development                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83500 | PA      | $83500.00     | 0.02%             | 2026-02-01      | Fixed         | 9.67%                 | Yes           |                  3 | On Loan: No      |
| 115205 - Westchester Avenue                                | 115205 - Westchester Avenue                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    732536 | PA      | $732535.91    | 0.18%             | 2026-07-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 115231 - Shoreline 940                                     | 115231 - Shoreline 940                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1573398 | PA      | $1573397.72   | 0.38%             | 2027-01-01      | Fixed         | 9.04%                 | Yes           |                  3 | On Loan: No      |
| 115378 - Buza Family Trust                                 | 115378 - Buza Family Trust                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1111000 | PA      | $1111000.00   | 0.27%             | 2026-07-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 115414 - Gallery Terra Lago                                | 115414 - Gallery Terra Lago                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    924000 | PA      | $924000.00    | 0.22%             | 2026-04-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| 115415 - Gallery Terra Lago                                | 115415 - Gallery Terra Lago                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462000 | PA      | $462000.00    | 0.11%             | 2026-04-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| 115697 - Grey Collective                                   | 115697 - Grey Collective                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1239909 | PA      | $1239909.31   | 0.30%             | 2026-07-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 115864 - TVR 2                                             | 115864 - TVR 2                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382790 | PA      | $382790.40    | 0.09%             | 2026-08-01      | Fixed         | 8.71%                 | Yes           |                  3 | On Loan: No      |
| 116028 - 12 Geneva St                                      | 116028 - 12 Geneva St                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2219970 | PA      | $2219970.14   | 0.53%             | 2026-07-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 116301 - Halona Development Group                          | 116301 - Halona Development Group                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    194756 | PA      | $194756.00    | 0.05%             | 2026-08-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 117396 - Cygnus Construction                               | 117396 - Cygnus Construction                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    789518 | PA      | $789518.00    | 0.19%             | 2026-09-01      | Fixed         | 9.04%                 | Yes           |                  3 | On Loan: No      |
| 117420 - BJB 1321 Management                               | 117420 - BJB 1321 Management                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2475000 | PA      | $2475000.00   | 0.59%             | 2026-03-01      | Fixed         | 8.38%                 | Yes           |                  3 | On Loan: No      |
| 117421 - Royal Management Group                            | 117421 - Royal Management Group                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100007 | PA      | $100007.00    | 0.02%             | 2026-03-01      | Fixed         | 8.79%                 | Yes           |                  3 | On Loan: No      |
| 117664 - Retail Bee                                        | 117664 - Retail Bee                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131250 | PA      | $131250.00    | 0.03%             | 2026-03-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 117679 - Vault Money Investments                           | 117679 - Vault Money Investments                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2144720 | PA      | $2144720.00   | 0.51%             | 2026-03-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 117712 - RR 2710 Development Group                         | 117712 - RR 2710 Development Group                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1548585 | PA      | $1548584.64   | 0.37%             | 2026-09-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 117729 - Built Full Homes                                  | 117729 - Built Full Homes                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    123458 | PA      | $123457.88    | 0.03%             | 2026-10-01      | Fixed         | 9.40%                 | Yes           |                  3 | On Loan: No      |
| 117767 - S&B Building Your Home                            | 117767 - S&B Building Your Home                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200716 | PA      | $200716.36    | 0.05%             | 2026-09-01      | Fixed         | 9.67%                 | Yes           |                  3 | On Loan: No      |
| 117770 - G3 Gomes                                          | 117770 - G3 Gomes                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198606 | PA      | $198605.69    | 0.05%             | 2026-08-01      | Fixed         | 9.67%                 | Yes           |                  3 | On Loan: No      |
| 117775 - Solid Residences                                  | 117775 - Solid Residences                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211926 | PA      | $211925.60    | 0.05%             | 2026-08-01      | Fixed         | 9.67%                 | Yes           |                  3 | On Loan: No      |
| 118026 - Holliday Homes                                    | 118026 - Holliday Homes                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    902096 | PA      | $902095.80    | 0.22%             | 2026-04-01      | Fixed         | 8.97%                 | Yes           |                  3 | On Loan: No      |
| 118242 - Ramsgate Property                                 | 118242 - Ramsgate Property                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2090000.00   | 0.50%             | 2026-04-01      | Fixed         | 9.16%                 | Yes           |                  3 | On Loan: No      |
| 118588 - Carolinas Builders                                | 118588 - Carolinas Builders                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.29%             | 2026-04-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 118590 - Carolinas Builders                                | 118590 - Carolinas Builders                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.29%             | 2026-04-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 118591 - Carolinas Builders                                | 118591 - Carolinas Builders                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.29%             | 2026-04-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 118708 - O. Rhyan Capital Management                       | 118708 - O. Rhyan Capital Management                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1855750 | PA      | $1855750.00   | 0.45%             | 2026-04-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 118766 - Hazen Grp.                                        | 118766 - Hazen Grp.                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4506376 | PA      | $4506376.35   | 1.08%             | 2026-07-01      | Fixed         | 8.25%                 | Yes           |                  3 | On Loan: No      |
| 118866 - BV Homes                                          | 118866 - BV Homes                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    226587 | PA      | $226587.08    | 0.05%             | 2026-03-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 118912 - North Fitzhugh LP                                 | 118912 - North Fitzhugh LP                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1995224 | PA      | $1995224.16   | 0.48%             | 2026-10-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 119487 - CAP Housing                                       | 119487 - CAP Housing                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    193500 | PA      | $193500.00    | 0.05%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 119537 - AJ15305                                           | 119537 - AJ15305                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2038403 | PA      | $2038403.02   | 0.49%             | 2026-09-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 119564 - R.I USA Multiservices                             | 119564 - R.I USA Multiservices                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2252000 | PA      | $2252000.45   | 0.54%             | 2026-09-01      | Fixed         | 9.15%                 | Yes           |                  3 | On Loan: No      |
| 119622 - Parkside Homes                                    | 119622 - Parkside Homes                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1741131 | PA      | $1741130.95   | 0.42%             | 2026-07-01      | Fixed         | 8.91%                 | Yes           |                  3 | On Loan: No      |
| 119640 - Valvera Investments                               | 119640 - Valvera Investments                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197274 | PA      | $197273.83    | 0.05%             | 2026-10-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| 119721 - Fortune Investment Group                          | 119721 - Fortune Investment Group                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    333000 | PA      | $333000.00    | 0.08%             | 2026-04-01      | Fixed         | 9.03%                 | Yes           |                  3 | On Loan: No      |
| 120177 - Grey Collective                                   | 120177 - Grey Collective                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1232500 | PA      | $1232500.00   | 0.30%             | 2026-10-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 120181 - 75 NW 41 St. Holdings                             | 120181 - 75 NW 41 St. Holdings                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1727416 | PA      | $1727416.00   | 0.41%             | 2026-10-01      | Fixed         | 8.97%                 | Yes           |                  3 | On Loan: No      |
| 120265 - N&B Real Estate Investment Group                  | 120265 - N&B Real Estate Investment Group                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170720 | PA      | $170720.00    | 0.04%             | 2026-07-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 123913 - 30 NW 59 Street Investment                        | 123913 - 30 NW 59 Street Investment                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1724623 | PA      | $1724623.43   | 0.41%             | 2027-01-01      | Fixed         | 9.49%                 | Yes           |                  3 | On Loan: No      |
| 124038 - Virginia Ct Campbell                              | 124038 - Virginia Ct Campbell                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2521700 | PA      | $2521699.62   | 0.61%             | 2026-10-01      | Fixed         | 8.96%                 | Yes           |                  3 | On Loan: No      |
| 124118 - MIA Residences                                    | 124118 - MIA Residences                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1726628 | PA      | $1726627.50   | 0.41%             | 2026-12-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 124121 - MIA Residences                                    | 124121 - MIA Residences                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1629839 | PA      | $1629839.00   | 0.39%             | 2026-12-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 124383 - 7700 Investment Group                             | 124383 - 7700 Investment Group                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.36%             | 2026-10-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 124588 - 4200 Chase                                        | 124588 - 4200 Chase                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3008095 | PA      | $3008095.32   | 0.72%             | 2027-07-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 124687 - Manico Investment                                 | 124687 - Manico Investment                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    327212 | PA      | $327211.50    | 0.08%             | 2027-01-01      | Fixed         | 8.65%                 | Yes           |                  3 | On Loan: No      |
| 124779 - Bliss Fort Pierce                                 | 124779 - Bliss Fort Pierce                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    882928 | PA      | $882927.53    | 0.21%             | 2027-01-01      | Fixed         | 8.96%                 | Yes           |                  3 | On Loan: No      |
| 124922 - GS West Coast Investments                         | 124922 - GS West Coast Investments                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3300000.00   | 0.79%             | 2026-04-01      | Fixed         | 8.86%                 | Yes           |                  3 | On Loan: No      |
| 124951 - Robert Eric Epps                                  | 124951 - Robert Eric Epps                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    464546 | PA      | $464545.57    | 0.11%             | 2027-01-01      | Fixed         | 9.11%                 | Yes           |                  3 | On Loan: No      |
| 125124 - 526 NW 15th Terr.                                 | 125124 - 526 NW 15th Terr.                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254970 | PA      | $254970.00    | 0.06%             | 2027-01-01      | Fixed         | 8.74%                 | Yes           |                  3 | On Loan: No      |
| 125125 - 634 NW 12th Ave                                   | 125125 - 634 NW 12th Ave                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    316338 | PA      | $316338.30    | 0.08%             | 2027-01-01      | Fixed         | 8.74%                 | Yes           |                  3 | On Loan: No      |
| 125221 - Taku Construction                                 | 125221 - Taku Construction                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4375937 | PA      | $4375937.21   | 1.05%             | 2026-10-01      | Fixed         | 9.09%                 | Yes           |                  3 | On Loan: No      |
| 125229 - La Sabana                                         | 125229 - La Sabana                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    586497 | PA      | $586496.81    | 0.14%             | 2027-07-01      | Fixed         | 8.93%                 | Yes           |                  3 | On Loan: No      |
| 125272 - Solida I Real Estate, L.P.                        | 125272 - Solida I Real Estate, L.P.                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134913 | PA      | $134912.84    | 0.03%             | 2026-12-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 125273 - Solida I Real Estate, L.P.                        | 125273 - Solida I Real Estate, L.P.                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     54823 | PA      | $54822.94     | 0.01%             | 2026-12-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 125300 - Andyvale                                          | 125300 - Andyvale                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260250 | PA      | $260250.00    | 0.06%             | 2027-01-01      | Fixed         | 8.74%                 | Yes           |                  3 | On Loan: No      |
| 125337 - Schurman Cottages                                 | 125337 - Schurman Cottages                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1123608 | PA      | $1123607.79   | 0.27%             | 2027-01-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 125357 - 412 Woodcrest                                     | 125357 - 412 Woodcrest                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2348776 | PA      | $2348775.73   | 0.56%             | 2027-04-01      | Fixed         | 8.48%                 | Yes           |                  3 | On Loan: No      |
| 125515 - Homes Instyle                                     | 125515 - Homes Instyle                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $680000.00    | 0.16%             | 2027-01-01      | Fixed         | 8.55%                 | Yes           |                  3 | On Loan: No      |
| 125565 - M & J Pham Development                            | 125565 - M & J Pham Development                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1505000.00   | 0.36%             | 2027-07-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 125570 - M & J Pham Development                            | 125570 - M & J Pham Development                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3571750 | PA      | $3571750.00   | 0.86%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 125583 - Open Water Realty                                 | 125583 - Open Water Realty                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170935 | PA      | $170935.00    | 0.04%             | 2027-01-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 125611 - LTC BC3 Real Estate Fund                          | 125611 - LTC BC3 Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1203535 | PA      | $1203535.10   | 0.29%             | 2027-07-01      | Fixed         | 8.96%                 | Yes           |                  3 | On Loan: No      |
| 125614 - LTC BC3 Real Estate Fund                          | 125614 - LTC BC3 Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    461415 | PA      | $461415.35    | 0.11%             | 2027-07-01      | Fixed         | 8.96%                 | Yes           |                  3 | On Loan: No      |
| 125623 - Willa Mae Investments                             | 125623 - Willa Mae Investments                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1545492 | PA      | $1545491.88   | 0.37%             | 2026-10-01      | Fixed         | 9.05%                 | Yes           |                  3 | On Loan: No      |
| 125679 - Dara 1 Holdings                                   | 125679 - Dara 1 Holdings                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2788629 | PA      | $2788629.00   | 0.67%             | 2026-10-01      | Fixed         | 9.15%                 | Yes           |                  3 | On Loan: No      |
| 125690 - 625 Worthington                                   | 125690 - 625 Worthington                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    354000 | PA      | $354000.00    | 0.08%             | 2027-07-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 125692 - Damai Resort Investments                          | 125692 - Damai Resort Investments                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1781250 | PA      | $1781250.00   | 0.43%             | 2026-07-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 126022 - Charleston Affordable Development Group           | 126022 - Charleston Affordable Development Group           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $39000.00     | 0.01%             | 2027-01-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 126032 - Charleston Affordable Development Group           | 126032 - Charleston Affordable Development Group           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60000.00     | 0.01%             | 2027-01-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 126105 - B Life Capital 26                                 | 126105 - B Life Capital 26                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1287000 | PA      | $1287000.00   | 0.31%             | 2027-07-01      | Fixed         | 8.99%                 | Yes           |                  3 | On Loan: No      |
| 126221 - JP&C Properties                                   | 126221 - JP&C Properties                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2182467 | PA      | $2182467.08   | 0.52%             | 2026-08-01      | Fixed         | 8.77%                 | Yes           |                  3 | On Loan: No      |
| 126255 - Duran USA Group                                   | 126255 - Duran USA Group                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145640 | PA      | $145640.02    | 0.03%             | 2027-01-01      | Fixed         | 9.21%                 | Yes           |                  3 | On Loan: No      |
| 126258 - 1124 NW 2nd St.                                   | 126258 - 1124 NW 2nd St.                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    446250 | PA      | $446250.00    | 0.11%             | 2026-10-01      | Fixed         | 8.74%                 | Yes           |                  3 | On Loan: No      |
| 126273 - 859 Beacon                                        | 126273 - 859 Beacon                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1638859 | PA      | $1638859.33   | 0.39%             | 2027-01-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 126281 - Douglas 10                                        | 126281 - Douglas 10                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2170379 | PA      | $2170379.09   | 0.52%             | 2026-07-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 126291 - Multipropiedades Investments                      | 126291 - Multipropiedades Investments                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    132522 | PA      | $132521.64    | 0.03%             | 2027-01-01      | Fixed         | 9.34%                 | Yes           |                  3 | On Loan: No      |
| 126387 - 321 North Lucerne                                 | 126387 - 321 North Lucerne                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2381494 | PA      | $2381494.08   | 0.57%             | 2026-08-01      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| 126394 - FlipWave Investments                              | 126394 - FlipWave Investments                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $525000.00    | 0.13%             | 2026-07-01      | Fixed         | 8.71%                 | Yes           |                  3 | On Loan: No      |
| 127039 - Blue Sky Builders                                 | 127039 - Blue Sky Builders                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    639358 | PA      | $639357.50    | 0.15%             | 2026-08-01      | Fixed         | 8.65%                 | Yes           |                  3 | On Loan: No      |
| 127275 - Taku Construction                                 | 127275 - Taku Construction                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $930000.00    | 0.22%             | 2026-07-01      | Fixed         | 9.02%                 | Yes           |                  3 | On Loan: No      |
| 127319 - Open Water Realty                                 | 127319 - Open Water Realty                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    192685 | PA      | $192685.00    | 0.05%             | 2027-01-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 127729 - J&K Rise Home Services                            | 127729 - J&K Rise Home Services                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225575 | PA      | $225575.00    | 0.05%             | 2026-11-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 102696 - 4798 NE 2nd Ave.                                  | 102696 - 4798 NE 2nd Ave.                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 9.56%                 | Yes           |                  3 | On Loan: No      |
| 102697 - 4798 NE 2nd Ave.                                  | 102697 - 4798 NE 2nd Ave.                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102698 - 4798 NE 2nd Ave.                                  | 102698 - 4798 NE 2nd Ave.                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 103728 - Barcel                                            | 103728 - Barcel                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206318 | PA      | $206317.65    | 0.05%             | 2026-01-01      | Fixed         | 9.88%                 | Yes           |                  3 | On Loan: No      |
| 91576 - A5 International Properties                        | 91576 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180925 | PA      | $180924.67    | 0.04%             | 2025-10-01      | Fixed         | 10.31%                | Yes           |                  3 | On Loan: No      |
| 91577 - A5 International Properties                        | 91577 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158583 | PA      | $158582.79    | 0.04%             | 2025-12-01      | Fixed         | 10.31%                | Yes           |                  3 | On Loan: No      |
| 91578 - A5 International Properties                        | 91578 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126435 | PA      | $126434.59    | 0.03%             | 2025-12-01      | Fixed         | 10.31%                | Yes           |                  3 | On Loan: No      |
| 94110 - A5 International Properties                        | 94110 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39283 | PA      | $39282.93     | 0.01%             | 2025-12-17      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 94111 - A5 International Properties                        | 94111 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155398 | PA      | $155398.41    | 0.04%             | 2026-01-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 94112 - A5 International Properties                        | 94112 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163164 | PA      | $163164.22    | 0.04%             | 2026-01-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 94113 - A5 International Properties                        | 94113 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    122053 | PA      | $122052.69    | 0.03%             | 2026-01-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 94114 - A5 International Properties                        | 94114 - A5 International Properties                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33811 | PA      | $33810.92     | 0.01%             | 2026-02-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 96483 - Affordable Housing Group LTD                       | 96483 - Affordable Housing Group LTD                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2209545 | PA      | $2209544.59   | 0.53%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 97931 - 2316 PCDEV                                         | 97931 - 2316 PCDEV                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3097718 | PA      | $3097718.13   | 0.74%             | 2026-01-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98104 - Desert Modern Development                          | 98104 - Desert Modern Development                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1880164 | PA      | $1880164.47   | 0.45%             | 2026-03-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 98258 - 1740 PCDEV                                         | 98258 - 1740 PCDEV                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4614831 | PA      | $4614830.51   | 1.11%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98617 - Lakeview Real Estate Fund                          | 98617 - Lakeview Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1114151 | PA      | $1114151.00   | 0.27%             | 2026-05-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 98618 - Lakeview Real Estate Fund                          | 98618 - Lakeview Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1056790 | PA      | $1056789.58   | 0.25%             | 2026-05-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 98619 - Lakeview Real Estate Fund                          | 98619 - Lakeview Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1157429 | PA      | $1157429.00   | 0.28%             | 2026-05-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 98620 - Lakeview Real Estate Fund                          | 98620 - Lakeview Real Estate Fund                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1124220 | PA      | $1124220.50   | 0.27%             | 2026-05-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 98767 - 426 E. 17th St.                                    | 98767 - 426 E. 17th St.                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1665039 | PA      | $1665039.42   | 0.40%             | 2025-05-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 98769 - 1292 Beauregard                                    | 98769 - 1292 Beauregard                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1437192 | PA      | $1437192.13   | 0.35%             | 2025-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98771 - 1292 Beauregard                                    | 98771 - 1292 Beauregard                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400383 | PA      | $1400382.94   | 0.34%             | 2025-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100356 - NRM Group                                         | 100356 - NRM Group                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2245565 | PA      | $2245565.16   | 0.54%             | 2026-05-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100357 - NRM Group                                         | 100357 - NRM Group                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1354632 | PA      | $1354632.10   | 0.33%             | 2026-05-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100358 - NRM Group                                         | 100358 - NRM Group                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462303 | PA      | $462303.27    | 0.11%             | 2026-05-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100359 - NRM Group                                         | 100359 - NRM Group                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1240584 | PA      | $1240584.31   | 0.30%             | 2026-05-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100388 - Nash Bami                                         | 100388 - Nash Bami                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3920000 | PA      | $3920000.00   | 0.94%             | 2025-12-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 100597 - 2303 Delancey                                     | 100597 - 2303 Delancey                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3465000 | PA      | $3465000.00   | 0.83%             | 2025-06-01      | Fixed         | 10.63%                | Yes           |                  3 | On Loan: No      |
| 100937 - indiePlanet Global Series 4                       | 100937 - indiePlanet Global Series 4                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    595000 | PA      | $595000.00    | 0.14%             | 2025-08-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 101221 - USA Luxury Developer II                           | 101221 - USA Luxury Developer II                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2973209 | PA      | $2973208.52   | 0.71%             | 2025-12-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 101246 - White Sand Real Estate Solutions                  | 101246 - White Sand Real Estate Solutions                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    588050 | PA      | $588050.00    | 0.14%             | 2026-02-01      | Fixed         | 10.25%                | Yes           |                  3 | On Loan: No      |
| 101296 - 5700 Clemson                                      | 101296 - 5700 Clemson                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4698133 | PA      | $4698132.69   | 1.13%             | 2026-04-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 101808 - Educate Capital                                   | 101808 - Educate Capital                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2138942 | PA      | $2138942.42   | 0.51%             | 2025-12-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 101873 - Valentin Construction & Development               | 101873 - Valentin Construction & Development               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666291 | PA      | $666290.78    | 0.16%             | 2026-07-01      | Fixed         | 9.94%                 | Yes           |                  3 | On Loan: No      |
| 102044 - Lian 166 Washington                               | 102044 - Lian 166 Washington                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1857724 | PA      | $1857724.33   | 0.45%             | 2026-04-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 102093 - Danva Prosper Fontanarosa Homes                   | 102093 - Danva Prosper Fontanarosa Homes                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1375970 | PA      | $1375970.24   | 0.33%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102094 - Danva Prosper Fontanarosa Homes                   | 102094 - Danva Prosper Fontanarosa Homes                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1623458 | PA      | $1623458.18   | 0.39%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102095 - Danva Prosper Fontanarosa Homes                   | 102095 - Danva Prosper Fontanarosa Homes                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1624428 | PA      | $1624427.87   | 0.39%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102096 - Danva Prosper Fontanarosa Homes                   | 102096 - Danva Prosper Fontanarosa Homes                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1030893 | PA      | $1030892.54   | 0.25%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102097 - Danva Prosper Fontanarosa Homes                   | 102097 - Danva Prosper Fontanarosa Homes                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1613336 | PA      | $1613336.15   | 0.39%             | 2026-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 102111 - Westlake Mountainview                             | 102111 - Westlake Mountainview                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3048193 | PA      | $3048192.54   | 0.73%             | 2026-01-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 105459 - Oleduga                                           | 105459 - Oleduga                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    259000 | PA      | $259000.00    | 0.06%             | 2026-08-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 105880 - B Cove Investments                                | 105880 - B Cove Investments                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2100000.00   | 0.50%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 106533 - Eagle OZB I, LP                                   | 106533 - Eagle OZB I, LP                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $780000.00    | 0.19%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 106536 - Eagle OZB I, LP                                   | 106536 - Eagle OZB I, LP                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $780000.00    | 0.19%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 108402 - Eagle Rock 17                                     | 108402 - Eagle Rock 17                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2001642 | PA      | $2001641.61   | 0.48%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108405 - Eagle Rock 17                                     | 108405 - Eagle Rock 17                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2136301 | PA      | $2136301.43   | 0.51%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108408 - Eagle Rock 17                                     | 108408 - Eagle Rock 17                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1148927 | PA      | $1148927.27   | 0.28%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108767 - 2717 NE 29th Street                               | 108767 - 2717 NE 29th Street                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2380261 | PA      | $2380261.03   | 0.57%             | 2026-04-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 121267 - Manzaba Property Investments                      | 121267 - Manzaba Property Investments                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133155 | PA      | $133155.00    | 0.03%             | 2026-03-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121268 - Hibernia Investment                               | 121268 - Hibernia Investment                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    849753 | PA      | $849753.00    | 0.20%             | 2026-05-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121270 - MZRCO                                             | 121270 - MZRCO                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49991 | PA      | $49991.00     | 0.01%             | 2026-02-01      | Fixed         | 9.14%                 | Yes           |                  3 | On Loan: No      |
| 121620 - 2305 Tamarind Drive                               | 121620 - 2305 Tamarind Drive                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1650000.00   | 0.40%             | 2026-11-01      | Fixed         | 9.22%                 | Yes           |                  3 | On Loan: No      |
| 123412 - Thirty Seven Sunrise                              | 123412 - Thirty Seven Sunrise                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1450001 | PA      | $1450001.00   | 0.35%             | 2026-12-01      | Fixed         | 9.24%                 | Yes           |                  3 | On Loan: No      |
| 123424 - S&P Construction & Development                    | 123424 - S&P Construction & Development                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186417 | PA      | $186417.24    | 0.04%             | 2026-06-01      | Fixed         | 8.99%                 | Yes           |                  3 | On Loan: No      |
| 123469 - 5601 Fishburn                                     | 123469 - 5601 Fishburn                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3245000 | PA      | $3245000.00   | 0.78%             | 2026-06-01      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| 123471 - Rental Shop Development                           | 123471 - Rental Shop Development                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143950 | PA      | $143950.00    | 0.03%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 133030 - Lake Development                                  | 133030 - Lake Development                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $141000.00    | 0.03%             | 2027-05-01      | Fixed         | 8.48%                 | Yes           |                  3 | On Loan: No      |
| 133115 - Amagansett South Holdings                         | 133115 - Amagansett South Holdings                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1649758 | PA      | $1649758.00   | 0.40%             | 2027-06-01      | Fixed         | 8.39%                 | Yes           |                  3 | On Loan: No      |
| 133276 - 2 Mellow Street                                   | 133276 - 2 Mellow Street                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    568000 | PA      | $568000.00    | 0.14%             | 2026-11-01      | Fixed         | 8.48%                 | Yes           |                  3 | On Loan: No      |
| 133284 - Beachside Dev Holdings                            | 133284 - Beachside Dev Holdings                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1063899 | PA      | $1063898.53   | 0.26%             | 2027-05-01      | Fixed         | 8.35%                 | Yes           |                  3 | On Loan: No      |
| 109398 - 1515 Blake                                        | 109398 - 1515 Blake                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1607355 | PA      | $1607354.69   | 0.39%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 109399 - 1515 Blake                                        | 109399 - 1515 Blake                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1603795 | PA      | $1603794.80   | 0.39%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 109448 - Kent 9                                            | 109448 - Kent 9                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    566000 | PA      | $566000.00    | 0.14%             | 2026-09-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 109450 - Kent 9                                            | 109450 - Kent 9                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    566000 | PA      | $566000.00    | 0.14%             | 2026-09-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 109696 - Loma Alta 10                                      | 109696 - Loma Alta 10                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422301 | PA      | $422300.56    | 0.10%             | 2026-06-01      | Fixed         | 9.68%                 | Yes           |                  3 | On Loan: No      |
| 109697 - Loma Alta 10                                      | 109697 - Loma Alta 10                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422301 | PA      | $422300.56    | 0.10%             | 2026-06-01      | Fixed         | 9.68%                 | Yes           |                  3 | On Loan: No      |
| 109703 - Loma Alta 10                                      | 109703 - Loma Alta 10                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422301 | PA      | $422300.56    | 0.10%             | 2026-06-01      | Fixed         | 9.68%                 | Yes           |                  3 | On Loan: No      |
| 109704 - Loma Alta 10                                      | 109704 - Loma Alta 10                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422301 | PA      | $422300.56    | 0.10%             | 2026-06-01      | Fixed         | 9.68%                 | Yes           |                  3 | On Loan: No      |
| 110003 - 791 Crandon Holding 707                           | 110003 - 791 Crandon Holding 707                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000000.00   | 0.72%             | 2026-10-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 110011 - Dolphin Shores Investments                        | 110011 - Dolphin Shores Investments                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1538130 | PA      | $1538130.00   | 0.37%             | 2026-02-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 110150 - Black Marlin Group                                | 110150 - Black Marlin Group                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3979344 | PA      | $3979344.30   | 0.96%             | 2026-04-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 110234 - Mcdonie Properties                                | 110234 - Mcdonie Properties                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2177483 | PA      | $2177483.00   | 0.52%             | 2026-04-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 110342 - Bravo Builders Enterprises                        | 110342 - Bravo Builders Enterprises                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2619628 | PA      | $2619627.50   | 0.63%             | 2026-08-01      | Fixed         | 9.29%                 | Yes           |                  3 | On Loan: No      |
| 110465 - TJR Development Inc.                              | 110465 - TJR Development Inc.                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1578715 | PA      | $1578715.09   | 0.38%             | 2026-06-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 110811 - 8935 Froude Ave                                   | 110811 - 8935 Froude Ave                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2010606 | PA      | $2010605.50   | 0.48%             | 2026-12-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 110815 - DaVinci Development                               | 110815 - DaVinci Development                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1305488 | PA      | $1305487.50   | 0.31%             | 2026-05-01      | Fixed         | 9.56%                 | Yes           |                  3 | On Loan: No      |
| 110820 - JT Real Estate Capital Group                      | 110820 - JT Real Estate Capital Group                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.48%             | 2026-05-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 111076 - Twenty                                            | 111076 - Twenty                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1538284 | PA      | $1538284.50   | 0.37%             | 2026-05-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 111089 - 317-319 Laurel Avenue                             | 111089 - 317-319 Laurel Avenue                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1397600 | PA      | $1397600.00   | 0.34%             | 2026-02-12      | Fixed         | 9.43%                 | Yes           |                  3 | On Loan: No      |
| 111866 - Colfax District                                   | 111866 - Colfax District                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3020160 | PA      | $3020160.05   | 0.73%             | 2026-06-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 111894 - Up Ruiz Investments                               | 111894 - Up Ruiz Investments                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    216128 | PA      | $216128.23    | 0.05%             | 2026-07-01      | Fixed         | 9.29%                 | Yes           |                  3 | On Loan: No      |
| 111941 - 2k Development                                    | 111941 - 2k Development                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1534527 | PA      | $1534526.57   | 0.37%             | 2026-06-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 112068 - Dwell LA                                          | 112068 - Dwell LA                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4128419 | PA      | $4128418.88   | 0.99%             | 2026-07-01      | Fixed         | 8.79%                 | Yes           |                  3 | On Loan: No      |
| 112135 - Twenty                                            | 112135 - Twenty                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    898497 | PA      | $898496.98    | 0.22%             | 2026-05-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 112319 - 1120 Coronado CS                                  | 112319 - 1120 Coronado CS                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3543000 | PA      | $3543000.00   | 0.85%             | 2025-12-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 112351 - BV Homes                                          | 112351 - BV Homes                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2196185 | PA      | $2196185.17   | 0.53%             | 2026-01-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 112430 - 31 Edward                                         | 112430 - 31 Edward                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1545161 | PA      | $1545161.25   | 0.37%             | 2026-01-16      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 112549 - Twenty                                            | 112549 - Twenty                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    898497 | PA      | $898496.99    | 0.22%             | 2026-05-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 112558 - 44th Ave Developers                               | 112558 - 44th Ave Developers                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1493761 | PA      | $1493760.69   | 0.36%             | 2026-05-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 112559 - 44th Ave Developers                               | 112559 - 44th Ave Developers                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1707070 | PA      | $1707070.02   | 0.41%             | 2026-05-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 112598 - Villa Bello At Zona                               | 112598 - Villa Bello At Zona                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2244285 | PA      | $2244284.64   | 0.54%             | 2026-12-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 112599 - Villa Bello At Zona                               | 112599 - Villa Bello At Zona                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1990076 | PA      | $1990076.42   | 0.48%             | 2026-12-01      | Fixed         | 9.12%                 | Yes           |                  3 | On Loan: No      |
| 112961 Veluva                                              | 112961 Veluva                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    420000 | PA      | $420000.00    | 0.10%             | 2026-12-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 113395 - Del Invest BC2                                    | 113395 - Del Invest BC2                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    390000 | PA      | $390000.00    | 0.09%             | 2026-07-01      | Fixed         | 9.17%                 | Yes           |                  3 | On Loan: No      |
| 113656 - Har Carmel                                        | 113656 - Har Carmel                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3643139 | PA      | $3643139.29   | 0.87%             | 2026-07-01      | Fixed         | 8.71%                 | Yes           |                  3 | On Loan: No      |
| 113734 - MF Real Estate Investment                         | 113734 - MF Real Estate Investment                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1488944 | PA      | $1488944.00   | 0.36%             | 2026-07-01      | Fixed         | 9.10%                 | Yes           |                  3 | On Loan: No      |
| 113824 - Caterra Property 3                                | 113824 - Caterra Property 3                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1722884 | PA      | $1722883.50   | 0.41%             | 2026-07-01      | Fixed         | 9.04%                 | Yes           |                  3 | On Loan: No      |
| 113965 - JulianMore                                        | 113965 - JulianMore                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3225327 | PA      | $3225327.20   | 0.77%             | 2026-08-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 114221 - CF 4942 Topanga                                   | 114221 - CF 4942 Topanga                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1980975 | PA      | $1980975.44   | 0.48%             | 2026-09-01      | Fixed         | 8.92%                 | Yes           |                  3 | On Loan: No      |
| 114305 - 15440 Dickens                                     | 114305 - 15440 Dickens                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1311964 | PA      | $1311964.00   | 0.31%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 114521 - 599 Bayshore 2024                                 | 114521 - 599 Bayshore 2024                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    905082 | PA      | $905082.49    | 0.22%             | 2026-07-01      | Fixed         | 8.73%                 | Yes           |                  3 | On Loan: No      |
| 114694 - BH Magic Investments                              | 114694 - BH Magic Investments                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1403623 | PA      | $1403622.70   | 0.34%             | 2026-07-01      | Fixed         | 8.71%                 | Yes           |                  3 | On Loan: No      |
| 114901 - Torre Projects                                    | 114901 - Torre Projects                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198375 | PA      | $198375.29    | 0.05%             | 2026-07-01      | Fixed         | 8.97%                 | Yes           |                  3 | On Loan: No      |
| 114902 - Torre Projects                                    | 114902 - Torre Projects                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    188123 | PA      | $188122.87    | 0.05%             | 2026-07-01      | Fixed         | 8.97%                 | Yes           |                  3 | On Loan: No      |
| 104357 - RRCap - FA Shingletree                            | 104357 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.14%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104358 - RRCap - FA Shingletree                            | 104358 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.14%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104359 - RRCap - FA Shingletree                            | 104359 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4197917 | PA      | $4197917.00   | 1.01%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104360 - RRCap - FA Shingletree                            | 104360 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4570253 | PA      | $4570253.00   | 1.10%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104361 - RRCap - FA Shingletree                            | 104361 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.14%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104362 - RRCap - FA Shingletree                            | 104362 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3825580 | PA      | $3825580.00   | 0.92%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104363 - RRCap - FA Shingletree                            | 104363 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4369483 | PA      | $4369483.00   | 1.05%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104364 - RRCap - FA Shingletree                            | 104364 - RRCap - FA Shingletree                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4369483 | PA      | $4369483.00   | 1.05%             | 2026-02-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 104447 - Watermark Homes                                   | 104447 - Watermark Homes                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1643377 | PA      | $1643377.04   | 0.39%             | 2025-10-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 104480 - Elmer Avenue                                      | 104480 - Elmer Avenue                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2739872 | PA      | $2739872.17   | 0.66%             | 2026-02-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 104677 - Daest                                             | 104677 - Daest                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    785000 | PA      | $785000.00    | 0.19%             | 2026-07-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 105003 - 43 Westwood                                       | 105003 - 43 Westwood                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1225159 | PA      | $1225159.13   | 0.29%             | 2026-08-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 105004 - 43 Westwood                                       | 105004 - 43 Westwood                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1532946 | PA      | $1532946.27   | 0.37%             | 2026-08-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 105005 - 43 Westwood                                       | 105005 - 43 Westwood                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1435156 | PA      | $1435155.64   | 0.34%             | 2026-08-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 105006 - 43 Westwood                                       | 105006 - 43 Westwood                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1443783 | PA      | $1443782.69   | 0.35%             | 2026-08-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 105178 - Efrain Hendy Zaga and Denisse Esquenazi Opatowski | 105178 - Efrain Hendy Zaga and Denisse Esquenazi Opatowski | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1574068 | PA      | $1574067.70   | 0.38%             | 2026-08-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 105243 - GT Three                                          | 105243 - GT Three                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2775743 | PA      | $2775742.63   | 0.67%             | 2026-02-01      | Fixed         | 9.62%                 | Yes           |                  3 | On Loan: No      |
| 105261 - SeaScape Homes                                    | 105261 - SeaScape Homes                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1719307 | PA      | $1719306.65   | 0.41%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 105366 - Rhino Homes                                       | 105366 - Rhino Homes                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1235000.00   | 0.30%             | 2026-02-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 135718 - MHD Real Estate                                   | 135718 - MHD Real Estate                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    485750 | PA      | $485750.00    | 0.12%             | 2026-12-01      | Fixed         | 8.14%                 | Yes           |                  3 | On Loan: No      |
| 108872 - Addison Hesby                                     | 108872 - Addison Hesby                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2593750 | PA      | $2593750.12   | 0.62%             | 2026-03-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 109030 - VLC Construction & Design                         | 109030 - VLC Construction & Design                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    234763 | PA      | $234762.86    | 0.06%             | 2026-04-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |
| 109339 - Scott Springs Assets                              | 109339 - Scott Springs Assets                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    406161 | PA      | $406161.39    | 0.10%             | 2026-05-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-15

**Name of Applicant:** Redwood Private Real Estate Debt Fund

**Signature:** /s/ Richard Duff

**Name of Signer:** Richard Duff

**Title:** Treasurer