# EDGAR Filing Document

**Accession Number:** 0001959172
**File Stem:** 0001145549-25-054130
**Filing Date:** 2025-8
**Character Count:** 174819
**Document Hash:** 7aae32864eeba244d0c80b74ca002c62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-054130.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001145549-25-054130

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**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:** 251260530

**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:** 2025-06-30

**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:** $727305469.44

**Total Liabilities:** $340569952.22

**Net Assets:** $386735517.22

**Cash Not Reported:** $7207874.12

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.62%                | 0.61%                | 0.56%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.01                                      |
| Month 2  | $0.00                    | $-0.01                                     |
| 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fidelity Government Portfolio                                       | Fidelity Government Portfolio, Class Institutional                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |  26525294 | PA      | $26525294.24  | 6.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TL Mosaika, LLC                                                     | TL Mosaika, LLC                                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5365714 | PA      | $5365714.02   | 1.39%             | 2026-04-30      | Variable      | 14.00%                | No            |                  3 | On Loan: No      |
| 3303 - 150 Lefferts Ave./55 East 21st Street                        | 3303 - 150 Lefferts Ave./55 East 21st Street                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3470000 | PA      | $3470000.00   | 0.90%             | 2025-08-01      | Variable      | 9.53%                 | No            |                  3 | On Loan: No      |
| 3314 - VM Equities #3                                               | 3314 - VM Equities #3                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    884520 | PA      | $884520.00    | 0.23%             | 2025-07-28      | Variable      | 9.58%                 | No            |                  3 | On Loan: No      |
| 3320-01 Howell Lendco, LLC                                          | 3320-01 Howell Lendco, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1190293 | PA      | $1190293.49   | 0.31%             | 2025-09-22      | Fixed         | 10.51%                | No            |                  3 | On Loan: No      |
| 3326 - Elgny, LLC                                                   | 3326 - Elgny, LLC                                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2025-10-07      | Fixed         | 10.25%                | No            |                  3 | On Loan: No      |
| 3330 - Ocean Blvd, LLC                                              | 3330 - Ocean Blvd, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9918134 | PA      | $9918133.79   | 2.56%             | 2025-10-31      | Fixed         | 10.25%                | No            |                  3 | On Loan: No      |
| 3333 - McRopp New York Royal44, LLC                                 | 3333 - McRopp New York Royal44, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12500000.00  | 3.23%             | 2025-11-28      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| 3335 - 1414 Cromell & 1419 Inwood Avenue                            | 3335 - 1414 Cromell & 1419 Inwood Avenue                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1300000.00   | 0.34%             | 2025-11-27      | Fixed         | 10.83%                | No            |                  3 | On Loan: No      |
| 3340 - San Antonio Palo Alto, LLC                                   | 3340 - San Antonio Palo Alto, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2942374 | PA      | $2942374.08   | 0.76%             | 2025-12-15      | Fixed         | 11.50%                | No            |                  3 | On Loan: No      |
| 3341 - Ferncroft, LLC                                               | 3341 - Ferncroft, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4000000.00   | 1.03%             | 2025-12-19      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| 3344 - 1600 North 11, LLC                                           | 3344 - 1600 North 11, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12400000 | PA      | $12400000.00  | 3.21%             | 2025-07-26      | Fixed         | 10.75%                | No            |                  3 | On Loan: No      |
| 3349 - Hillcrest Cedar Property Owner , LLC                         | 3349 - Hillcrest Cedar Property Owner , LLC                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6590000 | PA      | $6590000.00   | 1.70%             | 2026-01-09      | Variable      | 10.08%                | No            |                  3 | On Loan: No      |
| 3383 - Textor Family Holdings, LLC                                  | 3383 - Textor Family Holdings, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2900220 | PA      | $2900220.00   | 0.75%             | 2026-02-01      | Fixed         | 10.57%                | No            |                  3 | On Loan: No      |
| 3391- ZDJ W 37, LLC                                                 | 3391- ZDJ W 37, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10956664 | PA      | $10956664.30  | 2.83%             | 2027-03-04      | Variable      | 9.83%                 | No            |                  3 | On Loan: No      |
| 3394 - Sunnyvale Park Place & Commons                               | 3394 - Sunnyvale Park Place & Commons                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6000000.00   | 1.55%             | 2027-09-17      | Variable      | 9.33%                 | No            |                  3 | On Loan: No      |
| 3397 - 33 Alhambra Circle                                           | 3397 - 33 Alhambra Circle                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2900000.00   | 0.75%             | 2025-09-20      | Variable      | 9.53%                 | No            |                  3 | On Loan: No      |
| 3398 - 305 Briny                                                    | 3398 - 305 Briny                                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    934281 | PA      | $934280.67    | 0.24%             | 2026-09-27      | Variable      | 9.58%                 | No            |                  3 | On Loan: No      |
| 3399 - BH3 Malibu, LLC                                              | 3399 - BH3 Malibu, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4471596 | PA      | $4471596.09   | 1.16%             | 2026-10-30      | Variable      | 9.33%                 | No            |                  3 | On Loan: No      |
| 3403 - Nash Street Property Associates, LLC                         | 3403 - Nash Street Property Associates, LLC                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3827634 | PA      | $3827633.93   | 0.99%             | 2026-12-10      | Variable      | 9.33%                 | No            |                  3 | On Loan: No      |
| 3406 -601 & 621 West Summit Ave. Spruce St.                         | 3406 -601 & 621 West Summit Ave. Spruce St.                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000000.00   | 0.78%             | 2027-01-09      | Variable      | 10.38%                | No            |                  3 | On Loan: No      |
| 3407 - 57 Canton Place                                              | 3407 - 57 Canton Place                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6566202 | PA      | $6566202.22   | 1.70%             | 2026-12-23      | Variable      | 9.72%                 | No            |                  3 | On Loan: No      |
| 3412 - 105-107 Bank Street                                          | 3412 - 105-107 Bank Street                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5792210 | PA      | $5792210.04   | 1.50%             | 2026-07-24      | Variable      | 10.58%                | No            |                  3 | On Loan: No      |
| 3412-01 - 105-107 Bank Street                                       | 3412-01 - 105-107 Bank Street                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    905000 | PA      | $905000.00    | 0.23%             | 2026-07-24      | Variable      | 10.58%                | No            |                  3 | On Loan: No      |
| 3413 - 700, 706, & 710 Division Street &714 8th Avenue South        | 3413 - 700, 706, & 710 Division Street &714 8th Avenue South        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4631540 | PA      | $4631540.16   | 1.20%             | 2027-03-21      | Variable      | 10.23%                | No            |                  3 | On Loan: No      |
| 3422 - 119, 131, & 137 NW 29th 112, 120,130, & 138 NW               | 3422 - 119, 131, & 137 NW 29th 112, 120,130, & 138 NW               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4400000.00   | 1.14%             | 2027-03-21      | Variable      | 10.33%                | No            |                  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   | 0.78%             | 2027-04-07      | Variable      | 10.03%                | No            |                  3 | On Loan: No      |
| 3434 - 1 Water Street                                               | 3434 - 1 Water Street                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3239069 | PA      | $3239068.72   | 0.84%             | 2027-04-29      | Variable      | 10.09%                | No            |                  3 | On Loan: No      |
| TL Pepperell Mill, LLC                                              | TL Pepperell Mill, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7615162 | PA      | $7615162.44   | 1.97%             | 2026-12-23      | Variable      | 19.72%                | No            |                  3 | On Loan: No      |
| 3354 - L Island City, LLC                                           | 3354 - L Island City, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $14500000.00  | 3.75%             | 2026-02-22      | Variable      | 9.58%                 | No            |                  3 | On Loan: No      |
| 3356 - GK West 47th, LLC                                            | 3356 - GK West 47th, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5408271 | PA      | $5408271.26   | 1.40%             | 2026-03-07      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| 3358 - 123 Speer Owner, LP                                          | 3358 - 123 Speer Owner, LP                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3806482 | PA      | $3806482.20   | 0.98%             | 2026-03-19      | Variable      | 9.58%                 | No            |                  3 | On Loan: No      |
| 3359 - Nalskihouse MT, LLC                                          | 3359 - Nalskihouse MT, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4000000.00   | 1.03%             | 2026-03-22      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| 3360 - JC Roxy, LLC                                                 | 3360 - JC Roxy, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3500000.00   | 0.91%             | 2026-03-22      | Fixed         | 10.58%                | No            |                  3 | On Loan: No      |
| 3368 - Carlisle New York Apartments, LLC                            | 3368 - Carlisle New York Apartments, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  35000000 | PA      | $35000000.00  | 9.05%             | 2026-05-08      | Variable      | 10.53%                | No            |                  3 | On Loan: No      |
| 3371-01 Greyhawk SSOF Ruckus Lend, LLC                              | 3371-01 Greyhawk SSOF Ruckus Lend, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11500000 | PA      | $11500000.00  | 2.97%             | 2026-05-10      | Variable      | 9.33%                 | No            |                  3 | On Loan: No      |
| 3372 - 3151 NF Owner, LLC                                           | 3372 - 3151 NF Owner, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2500000.00   | 0.65%             | 2026-06-05      | Variable      | 9.58%                 | No            |                  3 | On Loan: No      |
| 3378 - Bancroft Cedar Property Owner, LLC                           | 3378 - Bancroft Cedar Property Owner, LLC                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.01   | 0.26%             | 2026-07-03      | Fixed         | 10.74%                | No            |                  3 | On Loan: No      |
| 98767 - 426 E. 17th St., LLC                                        | 98767 - 426 E. 17th St., LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1665039 | PA      | $1665039.00   | 0.43%             | 2025-05-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 98769 - 1292 Beauregard, LLC                                        | 98769 - 1292 Beauregard, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1437192 | PA      | $1437192.00   | 0.37%             | 2025-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98771 - 1292 Beauregard, LLC                                        | 98771 - 1292 Beauregard, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400383 | PA      | $1400383.00   | 0.36%             | 2025-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98803 - Moon Equities, LLC                                          | 98803 - Moon Equities, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2960000 | PA      | $2960000.00   | 0.77%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98834 - 1770 Bay Blvd., LLC                                         | 98834 - 1770 Bay Blvd., LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3997500 | PA      | $3997500.00   | 1.03%             | 2026-01-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 99183 - 331 N. Olive St. Holding, LLC                               | 99183 - 331 N. Olive St. Holding, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1425000 | PA      | $1425000.00   | 0.37%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 99191 - 2204 Conquista Ave. Holding, LLC                            | 99191 - 2204 Conquista Ave. Holding, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1522020 | PA      | $1522020.00   | 0.39%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 99269 - 1688 Sunset Plaza Drive Partners, LLC                       | 99269 - 1688 Sunset Plaza Drive Partners, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2235321 | PA      | $2235321.00   | 0.58%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 99956 - Mao Developers, LLC                                         | 99956 - Mao Developers, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $480000.00    | 0.12%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100356 - NRM Group, LLC                                             | 100356 - NRM Group, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1824899 | PA      | $1824899.00   | 0.47%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100357 - NRM Group, LLC                                             | 100357 - NRM Group, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1104698 | PA      | $1104698.00   | 0.29%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100358 - NRM Group, LLC                                             | 100358 - NRM Group, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2314457 | PA      | $2314457.00   | 0.60%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100359 - NRM Group, LLC                                             | 100359 - NRM Group, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    975155 | PA      | $975155.00    | 0.25%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100364 - Brilliant Funding, LLC                                     | 100364 - Brilliant Funding, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250971 | PA      | $250971.00    | 0.06%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100369 - Brilliant Funding, LLC                                     | 100369 - Brilliant Funding, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254371 | PA      | $254371.00    | 0.07%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100370 - Brilliant Funding, LLC                                     | 100370 - Brilliant Funding, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252671 | PA      | $252671.00    | 0.07%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100371 - Brilliant Funding, LLC                                     | 100371 - Brilliant Funding, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    227678 | PA      | $227678.00    | 0.06%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100388 - Nash Bami, LLC                                             | 100388 - Nash Bami, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3920000 | PA      | $3920000.00   | 1.01%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 100408 - HARING57, LLC                                              | 100408 - HARING57, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1204000 | PA      | $1204000.00   | 0.31%             | 2025-06-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 100597 - 2303 Delancey, LLC                                         | 100597 - 2303 Delancey, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3465000 | PA      | $3465000.00   | 0.90%             | 2025-06-01      | Fixed         | 10.63%                | Yes           |                  3 | On Loan: No      |
| 100937 - indiePlanet Global, LLC Series 4                           | 100937 - indiePlanet Global, LLC Series 4                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    595000 | PA      | $595000.00    | 0.15%             | 2025-08-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 100939 - indiePlanet Global, LLC Series 4                           | 100939 - indiePlanet Global, LLC Series 4                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    631400 | PA      | $631400.00    | 0.16%             | 2025-08-01      | Fixed         | 9.69%                 | Yes           |                  3 | On Loan: No      |
| 101115 - MSR Starglide Canterbury Homes, LLC                        | 101115 - MSR Starglide Canterbury Homes, LLC                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1579190 | PA      | $1579190.00   | 0.41%             | 2025-08-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |
| 101219 - ACE Jaynes, LLC                                            | 101219 - ACE Jaynes, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1137000 | PA      | $1137000.00   | 0.29%             | 2025-12-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 101221 - USA Luxury Developer II, Inc.                              | 101221 - USA Luxury Developer II, Inc.                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2858728 | PA      | $2858728.00   | 0.74%             | 2025-12-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 101227 - Rhoi Properties, Inc                                       | 101227 - Rhoi Properties, Inc                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    936046 | PA      | $936046.00    | 0.24%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 101246 - White Sand Real Estate Solutions, LLC                      | 101246 - White Sand Real Estate Solutions, LLC                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540851 | PA      | $540851.00    | 0.14%             | 2026-02-01      | Fixed         | 10.25%                | Yes           |                  3 | On Loan: No      |
| 101248 - White Sand Real Estate Solutions, LLC                      | 101248 - White Sand Real Estate Solutions, LLC                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    539276 | PA      | $539276.00    | 0.14%             | 2026-02-01      | Fixed         | 10.25%                | Yes           |                  3 | On Loan: No      |
| 101296 - 5700 Clemson, LLC                                          | 101296 - 5700 Clemson, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4409437 | PA      | $4409437.00   | 1.14%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 101753 - NRI Portfolios, LLC                                        | 101753 - NRI Portfolios, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1007750 | PA      | $1007750.00   | 0.26%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 101808 - Educate Capital, LLC                                       | 101808 - Educate Capital, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1716201 | PA      | $1716201.00   | 0.44%             | 2025-12-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 101873 - Valentin Construction & Development, LLC                   | 101873 - Valentin Construction & Development, LLC                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666291 | PA      | $666291.00    | 0.17%             | 2026-07-01      | Fixed         | 9.94%                 | Yes           |                  3 | On Loan: No      |
| 102044 - Lian 166 Washington, LLC                                   | 102044 - Lian 166 Washington, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3976050 | PA      | $3976050.00   | 1.03%             | 2026-04-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 102093 - Danva Prosper Fontanarosa Homes, LLC                       | 102093 - Danva Prosper Fontanarosa Homes, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1155921 | PA      | $1155921.00   | 0.30%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102094 - Danva Prosper Fontanarosa Homes, LLC                       | 102094 - Danva Prosper Fontanarosa Homes, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1308524 | PA      | $1308524.00   | 0.34%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102095 - Danva Prosper Fontanarosa Homes, LLC                       | 102095 - Danva Prosper Fontanarosa Homes, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1418731 | PA      | $1418731.00   | 0.37%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102096 - Danva Prosper Fontanarosa Homes, LLC                       | 102096 - Danva Prosper Fontanarosa Homes, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    887330 | PA      | $887330.00    | 0.23%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102097 - Danva Prosper Fontanarosa Homes, LLC                       | 102097 - Danva Prosper Fontanarosa Homes, LLC                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1332035 | PA      | $1332035.00   | 0.34%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102111 - Westlake Mountainview, LLC                                 | 102111 - Westlake Mountainview, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3035308 | PA      | $3035308.00   | 0.78%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102126 - 19142 Keswick St., LLC                                     | 102126 - 19142 Keswick St., LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1748895 | PA      | $1748895.00   | 0.45%             | 2026-01-01      | Fixed         | 10.06%                | Yes           |                  3 | On Loan: No      |
| 102137 - Gill Development, LLC                                      | 102137 - Gill Development, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    748000 | PA      | $748000.00    | 0.19%             | 2026-01-01      | Fixed         | 9.75%                 | Yes           |                  3 | On Loan: No      |
| 102535 - TRMF & Associates, LLC                                     | 102535 - TRMF & Associates, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51375 | PA      | $51375.00     | 0.01%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102607 - 158 & 160 Eckerson, LLC                                    | 102607 - 158 & 160 Eckerson, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2342600 | PA      | $2342600.00   | 0.61%             | 2026-04-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 102608 - 158 & 160 Eckerson, LLC                                    | 102608 - 158 & 160 Eckerson, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1593980 | PA      | $1593980.00   | 0.41%             | 2026-04-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 102696 - 4798 NE 2nd Ave., LLC                                      | 102696 - 4798 NE 2nd Ave., LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102697 - 4798 NE 2nd Ave., LLC                                      | 102697 - 4798 NE 2nd Ave., LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115414 - Gallery Terra Lago, LLC                                    | 115414 - Gallery Terra Lago, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    924000 | PA      | $924000.00    | 0.24%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115415 - Gallery Terra Lago, LLC                                    | 115415 - Gallery Terra Lago, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462000 | PA      | $462000.00    | 0.12%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115417 - Clamhor 2, LLC                                             | 115417 - Clamhor 2, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2696308 | PA      | $2696308.00   | 0.70%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115697 - Grey Collective, LLC                                       | 115697 - Grey Collective, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1063350 | PA      | $1063350.00   | 0.27%             | 2026-07-01      | Fixed         | 8.98%                 | Yes           |                  3 | On Loan: No      |
| 115864 - TVR 2, LLC                                                 | 115864 - TVR 2, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382790 | PA      | $382790.00    | 0.10%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 116028 - 12 Geneva St, LLC                                          | 116028 - 12 Geneva St, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1740976 | PA      | $1740976.00   | 0.45%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 116301 - Halona Development Group, LLC                              | 116301 - Halona Development Group, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164554 | PA      | $164554.00    | 0.04%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117082 - Wilton JT, LLC                                             | 117082 - Wilton JT, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    377817 | PA      | $377817.00    | 0.10%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117205 - Axon Real Estate Investments, LLC                          | 117205 - Axon Real Estate Investments, LLC                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1469569 | PA      | $1469569.00   | 0.38%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117241 - 1813-60 Binyan, LLC                                        | 117241 - 1813-60 Binyan, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2698746 | PA      | $2698746.00   | 0.70%             | 2026-03-03      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117318 - 662 Granada St, LLC                                        | 117318 - 662 Granada St, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1003791 | PA      | $1003791.00   | 0.26%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117396 - Cygnus Construction, LLC                                   | 117396 - Cygnus Construction, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    486025 | PA      | $486025.00    | 0.13%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117420 - BJB 1321 Management, LLC                                   | 117420 - BJB 1321 Management, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2475000 | PA      | $2475000.00   | 0.64%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117421 - Royal Management Group, LLC                                | 117421 - Royal Management Group, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100007 | PA      | $100007.00    | 0.03%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117439 - Valor Tower, Inc                                           | 117439 - Valor Tower, Inc                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4445057 | PA      | $4445057.00   | 1.15%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117664 - Retail Bee, LLC                                            | 117664 - Retail Bee, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131250 | PA      | $131250.00    | 0.03%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117679 - Vault Money Investments, LLC                               | 117679 - Vault Money Investments, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2144720 | PA      | $2144720.00   | 0.55%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117712 - RR 2710 Development Group, LLC                             | 117712 - RR 2710 Development Group, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1114650 | PA      | $1114650.00   | 0.29%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117729 - Built Full Homes, LLC                                      | 117729 - Built Full Homes, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12000.00     | 0.00%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117767 - S&B Building Your Home, LLC                                | 117767 - S&B Building Your Home, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58620 | PA      | $58620.00     | 0.02%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117770 - G3 Gomes, LLC                                              | 117770 - G3 Gomes, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     87264 | PA      | $87264.00     | 0.02%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 117775 - Solid Residences, LLC                                      | 117775 - Solid Residences, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186766 | PA      | $186766.00    | 0.05%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118026 - Holliday Homes, LLC                                        | 118026 - Holliday Homes, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    390200 | PA      | $390200.00    | 0.10%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118242 - Ramsgate Property, LLC                                     | 118242 - Ramsgate Property, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2072000 | PA      | $2072000.00   | 0.54%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118588 - Carolinas Builders, LLC                                    | 118588 - Carolinas Builders, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.31%             | 2026-04-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 118590 - Carolinas Builders, LLC                                    | 118590 - Carolinas Builders, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.31%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118591 - Carolinas Builders, LLC                                    | 118591 - Carolinas Builders, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1215000 | PA      | $1215000.00   | 0.31%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118708 - O. Rhyan Capital Management, LLC                           | 118708 - O. Rhyan Capital Management, LLC                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1855750 | PA      | $1855750.00   | 0.48%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118766 - Hazen Grp., LLC                                            | 118766 - Hazen Grp., LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4250644 | PA      | $4250644.00   | 1.10%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118866 - BV Homes, LLC                                              | 118866 - BV Homes, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    226587 | PA      | $226587.00    | 0.06%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118912 - North Fitzhugh LP, LLC                                     | 118912 - North Fitzhugh LP, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    734600 | PA      | $734600.00    | 0.19%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 118929 - 842 Meadow Creek, LLC                                      | 118929 - 842 Meadow Creek, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    733099 | PA      | $733099.00    | 0.19%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119128 - Burien 10, LLC                                             | 119128 - Burien 10, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    647628 | PA      | $647628.00    | 0.17%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119132 - Burien 10, LLC                                             | 119132 - Burien 10, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610378 | PA      | $610378.00    | 0.16%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119137 - Burien 10, LLC                                             | 119137 - Burien 10, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    569104 | PA      | $569104.00    | 0.15%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119374 - 1909 McMillan, LLC                                         | 119374 - 1909 McMillan, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1410000.00   | 0.36%             | 2026-04-01      | Fixed         | 8.72%                 | Yes           |                  3 | On Loan: No      |
| 119487 - CAP Housing, LLC                                           | 119487 - CAP Housing, LLC                                           | 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, LLC                                               | 119537 - AJ15305, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1896827 | PA      | $1896827.00   | 0.49%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119548 - 15 Carmela Terrace, LLC                                    | 119548 - 15 Carmela Terrace, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $185000.00    | 0.05%             | 2026-03-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 119564 - R.I USA Multiservices, LLC                                 | 119564 - R.I USA Multiservices, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1502301 | PA      | $1502301.00   | 0.39%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119622 - Parkside Homes, LLC                                        | 119622 - Parkside Homes, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1299719 | PA      | $1299719.00   | 0.34%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119640 - Valvera Investments, LLC                                   | 119640 - Valvera Investments, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127014 | PA      | $127014.00    | 0.03%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 119721 - Fortune Investment Group, LLC                              | 119721 - Fortune Investment Group, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    333000 | PA      | $333000.00    | 0.09%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120177 - Grey Collective, LLC                                       | 120177 - Grey Collective, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1232500 | PA      | $1232500.00   | 0.32%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120181 - 75 NW 41 St. Holdings, LLC                                 | 120181 - 75 NW 41 St. Holdings, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1181832 | PA      | $1181832.00   | 0.31%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120265 - N&B Real Estate Investment Group, LLC                      | 120265 - N&B Real Estate Investment Group, LLC                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167582 | PA      | $167582.00    | 0.04%             | 2026-07-01      | Fixed         | 10.82%                | 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    | 0.20%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 106767 - Torre Projects, LLC                                        | 106767 - Torre Projects, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286148 | PA      | $286148.00    | 0.07%             | 2026-08-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 106918 - HLPG 406 Midwood, LLC                                      | 106918 - HLPG 406 Midwood, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1999729 | PA      | $1999729.00   | 0.52%             | 2025-10-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 107081 - Abode Multifamily Opportunity Fund I, LLC                  | 107081 - Abode Multifamily Opportunity Fund I, LLC                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1387000 | PA      | $1387000.00   | 0.36%             | 2025-09-01      | Fixed         | 9.88%                 | Yes           |                  3 | On Loan: No      |
| 107094 - Grande Vita Homes, LLC                                     | 107094 - Grande Vita Homes, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    624592 | PA      | $624592.00    | 0.16%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 107180 - 902 8th St, LLC                                            | 107180 - 902 8th St, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    358000 | PA      | $358000.00    | 0.09%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 107595 - Dolphin Shores Investments LLC                             | 107595 - Dolphin Shores Investments LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1286190 | PA      | $1286190.00   | 0.33%             | 2026-02-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107654 - Cardinal Capital Investment Group LLC                      | 107654 - Cardinal Capital Investment Group LLC                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    466506 | PA      | $466506.00    | 0.12%             | 2025-10-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107836 - Mahi Mahi 935, LLC                                         | 107836 - Mahi Mahi 935, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1399000 | PA      | $1399000.00   | 0.36%             | 2026-03-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 107844 - Keys of Tomorrow, LLC                                      | 107844 - Keys of Tomorrow, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    179496 | PA      | $179496.00    | 0.05%             | 2026-03-01      | Fixed         | 9.06%                 | Yes           |                  3 | On Loan: No      |
| 107845 - Keys of Tomorrow, LLC                                      | 107845 - Keys of Tomorrow, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2410324 | PA      | $2410324.00   | 0.62%             | 2027-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 107891 - 10225 Investments, LLC                                     | 107891 - 10225 Investments, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46805 | PA      | $46805.00     | 0.01%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 107982 - Nextgen Eaglerock 13, LLC                                  | 107982 - Nextgen Eaglerock 13, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1656684 | PA      | $1656684.00   | 0.43%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107983 - Nextgen Eaglerock 13, LLC                                  | 107983 - Nextgen Eaglerock 13, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1684816 | PA      | $1684816.00   | 0.44%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107986 - Nextgen Eaglerock 13, LLC                                  | 107986 - Nextgen Eaglerock 13, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2429722 | PA      | $2429722.00   | 0.63%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 107997 - Mercado Rodriguez, LLC                                     | 107997 - Mercado Rodriguez, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102850 | PA      | $102850.00    | 0.03%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 108077 - Fifth Avenue Wyn, LLC                                      | 108077 - Fifth Avenue Wyn, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1820000.00   | 0.47%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 108167 - Lime Builders, LLC                                         | 108167 - Lime Builders, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1516381 | PA      | $1516381.00   | 0.39%             | 2026-10-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108184 - Osprey Ocean, LLC                                          | 108184 - Osprey Ocean, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1607839 | PA      | $1607839.00   | 0.42%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 108203 - Kirkland 7, LLC                                            | 108203 - Kirkland 7, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1385000.00   | 0.36%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 108252 - Hurricane Construction, Inc                                | 108252 - Hurricane Construction, Inc                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2059711 | PA      | $2059711.00   | 0.53%             | 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        |   1371406 | PA      | $1371406.00   | 0.35%             | 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        |   1706058 | PA      | $1706058.00   | 0.44%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108402 - Eagle Rock 17, LLC                                         | 108402 - Eagle Rock 17, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1607153 | PA      | $1607153.00   | 0.42%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108405 - Eagle Rock 17, LLC                                         | 108405 - Eagle Rock 17, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1615755 | PA      | $1615755.00   | 0.42%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108408 - Eagle Rock 17, LLC                                         | 108408 - Eagle Rock 17, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1074368 | PA      | $1074368.00   | 0.28%             | 2026-05-01      | Fixed         | 9.57%                 | Yes           |                  3 | On Loan: No      |
| 108411 - TruWest, LLC                                               | 108411 - TruWest, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1627500 | PA      | $1627500.00   | 0.42%             | 2025-11-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108767 - 2717 NE 29th Street, LLC                                   | 108767 - 2717 NE 29th Street, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1731262 | PA      | $1731262.00   | 0.45%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 108769 - TRG Inglewood, LLC                                         | 108769 - TRG Inglewood, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3609000 | PA      | $3609000.00   | 0.93%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 108872 - Addison Hesby, LLC                                         | 108872 - Addison Hesby, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2413684 | PA      | $2413684.00   | 0.62%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109030 - VLC Construction & Design, LLC                             | 109030 - VLC Construction & Design, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212722 | PA      | $212722.00    | 0.06%             | 2026-04-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |
| 109192 - BV Homes, LLC                                              | 109192 - BV Homes, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2082217 | PA      | $2082217.00   | 0.54%             | 2025-10-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 109196 - Nexo Investors, LLC                                        | 109196 - Nexo Investors, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    389270 | PA      | $389270.00    | 0.10%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 109322 - 3A Parc, LLC                                               | 109322 - 3A Parc, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2308431 | PA      | $2308431.00   | 0.60%             | 2026-04-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 109339 - Scott Springs Assets, LLC                                  | 109339 - Scott Springs Assets, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375164 | PA      | $375164.00    | 0.10%             | 2026-05-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |
| 109398 - 1515 Blake, LLC                                            | 109398 - 1515 Blake, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1079532 | PA      | $1079532.00   | 0.28%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 109399 - 1515 Blake, LLC                                            | 109399 - 1515 Blake, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1078858 | PA      | $1078858.00   | 0.28%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 109448 - Kent 9, LLC                                                | 109448 - Kent 9, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    566000 | PA      | $566000.00    | 0.15%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109450 - Kent 9, LLC                                                | 109450 - Kent 9, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    566000 | PA      | $566000.00    | 0.15%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109696 - Loma Alta 10, LLC                                          | 109696 - Loma Alta 10, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289107 | PA      | $289107.00    | 0.07%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109697 - Loma Alta 10, LLC                                          | 109697 - Loma Alta 10, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289107 | PA      | $289107.00    | 0.07%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109703 - Loma Alta 10, LLC                                          | 109703 - Loma Alta 10, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289107 | PA      | $289107.00    | 0.07%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109704 - Loma Alta 10, LLC                                          | 109704 - Loma Alta 10, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    289107 | PA      | $289107.00    | 0.07%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122563 - Black Star Development, LLC                                | 122563 - Black Star Development, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.39%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122571 - Black Star Development, LLC                                | 122571 - Black Star Development, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.39%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122718 - Dommus Construction Corp.                                  | 122718 - Dommus Construction Corp.                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $114000.00    | 0.03%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126258 - 1124 NW 2nd St., LLC                                       | 126258 - 1124 NW 2nd St., LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    446250 | PA      | $446250.00    | 0.12%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 109798 - JH1 Realty, Inc.                                           | 109798 - JH1 Realty, Inc.                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    854354 | PA      | $854354.00    | 0.22%             | 2025-10-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 109837 - Gramm Ventures, LLC                                        | 109837 - Gramm Ventures, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    312900 | PA      | $312900.00    | 0.08%             | 2025-11-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 110003 - 791 Crandon Holding 707, LLC                               | 110003 - 791 Crandon Holding 707, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3000000.00   | 0.78%             | 2026-10-01      | Fixed         | 8.90%                 | Yes           |                  3 | On Loan: No      |
| 110011 - Dolphin Shores Investments, LLC                            | 110011 - Dolphin Shores Investments, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1538130 | PA      | $1538130.00   | 0.40%             | 2026-02-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 110150 - Black Marlin Group, LLC                                    | 110150 - Black Marlin Group, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3176834 | PA      | $3176834.00   | 0.82%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110234 - Mcdonie Properties, LLC                                    | 110234 - Mcdonie Properties, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1550056 | PA      | $1550056.00   | 0.40%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110342 - Bravo Builders Enterprises, LLC                            | 110342 - Bravo Builders Enterprises, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2318508 | PA      | $2318508.00   | 0.60%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110447 - E & S General Solutions, LLC                               | 110447 - E & S General Solutions, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1578715 | PA      | $1578715.00   | 0.41%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110465 - TJR Development Inc.                                       | 110465 - TJR Development Inc.                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1551965 | PA      | $1551965.00   | 0.40%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110811 - 8935 Froude Ave, LLC                                       | 110811 - 8935 Froude Ave, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1235600 | PA      | $1235600.00   | 0.32%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110815 - DaVinci Development, LLC                                   | 110815 - DaVinci Development, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1426191 | PA      | $1426191.00   | 0.37%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 110820 - JT Real Estate Capital Group, LLC                          | 110820 - JT Real Estate Capital Group, LLC                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1235117 | PA      | $1235117.00   | 0.32%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111076 - Twenty, LLC                                                | 111076 - Twenty, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    913150 | PA      | $913150.00    | 0.24%             | 2025-11-12      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111089 - 317-319 Laurel Avenue, LLC                                 | 111089 - 317-319 Laurel Avenue, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    937760 | PA      | $937760.00    | 0.24%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 111108 - Vesta Investments, LLC                                     | 111108 - Vesta Investments, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425161 | PA      | $425161.00    | 0.11%             | 2026-05-01      | Fixed         | 9.19%                 | Yes           |                  3 | On Loan: No      |
| 111141 - Estela Specs 7, LLC                                        | 111141 - Estela Specs 7, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    617865 | PA      | $617865.00    | 0.16%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111792 - 88th Street Homes, LLC                                     | 111792 - 88th Street Homes, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    216450 | PA      | $216450.00    | 0.06%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111801 - Ronpache Investments and Trade, LLC                        | 111801 - Ronpache Investments and Trade, LLC                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1054794 | PA      | $1054794.00   | 0.27%             | 2026-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111834 - Red Cedar Development, LLC                                 | 111834 - Red Cedar Development, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2516669 | PA      | $2516669.00   | 0.65%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111866 - Colfax District, LLC                                       | 111866 - Colfax District, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197300 | PA      | $197300.00    | 0.05%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111894 - Up Ruiz Investments, LLC                                   | 111894 - Up Ruiz Investments, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    888811 | PA      | $888811.00    | 0.23%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 111941 - 2k Development, LLC                                        | 111941 - 2k Development, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3109545 | PA      | $3109545.00   | 0.80%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112068 - Dwell LA, LLC                                              | 112068 - Dwell LA, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4975000 | PA      | $4975000.00   | 1.29%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112080 - IEG Pioche, LLC                                            | 112080 - IEG Pioche, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    427399 | PA      | $427399.00    | 0.11%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112135 - Twenty, LLC                                                | 112135 - Twenty, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3543000 | PA      | $3543000.00   | 0.92%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112319 - 1120 Coronado CS, LLC                                      | 112319 - 1120 Coronado CS, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    191675 | PA      | $191675.00    | 0.05%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112340 - Wivilmi Investments, LLC                                   | 112340 - Wivilmi Investments, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2211464 | PA      | $2211464.00   | 0.57%             | 2025-12-01      | Fixed         | 8.87%                 | Yes           |                  3 | On Loan: No      |
| 112350 - JH1 Realty Inc.                                            | 112350 - JH1 Realty Inc.                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1591169 | PA      | $1591169.00   | 0.41%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112351 - BV Homes, LLC                                              | 112351 - BV Homes, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1545161 | PA      | $1545161.00   | 0.40%             | 2026-01-16      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112430 - 31 Edward, LLC                                             | 112430 - 31 Edward, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    427399 | PA      | $427399.00    | 0.11%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112549 - Twenty, LLC                                                | 112549 - Twenty, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    942667 | PA      | $942667.00    | 0.24%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112558 - 44th Ave Developers, LLC                                   | 112558 - 44th Ave Developers, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1077333 | PA      | $1077333.00   | 0.28%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112559 - 44th Ave Developers, LLC                                   | 112559 - 44th Ave Developers, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2044952 | PA      | $2044952.00   | 0.53%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112598 - Villa Bello At Zona, LLC                                   | 112598 - Villa Bello At Zona, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1219878 | PA      | $1219878.00   | 0.32%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112599 - Villa Bello At Zona, LLC                                   | 112599 - Villa Bello At Zona, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280755 | PA      | $280755.00    | 0.07%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112724 - Mosin Properties, LLC                                      | 112724 - Mosin Properties, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    287000 | PA      | $287000.00    | 0.07%             | 2026-05-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 112735 - Hyde L303, LLC                                             | 112735 - Hyde L303, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    420000 | PA      | $420000.00    | 0.11%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 112961 Veluva, LLC                                                  | 112961 Veluva, LLC                                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    390000 | PA      | $390000.00    | 0.10%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 113395 - Del Invest BC2, LLC                                        | 113395 - Del Invest BC2, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2986076 | PA      | $2986076.00   | 0.77%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 113656 - Har Carmel, LLC                                            | 113656 - Har Carmel, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1408461 | PA      | $1408461.00   | 0.36%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 113657 - Assemble Capital Manager, LLC                              | 113657 - Assemble Capital Manager, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1280000.00   | 0.33%             | 2026-07-01      | Fixed         | 9.10%                 | Yes           |                  3 | On Loan: No      |
| 113734 - MF Real Estate Investment, LLC                             | 113734 - MF Real Estate Investment, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1344759 | PA      | $1344759.00   | 0.35%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 113824 - Caterra Property 3, LLC                                    | 113824 - Caterra Property 3, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3119060 | PA      | $3119060.00   | 0.81%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 113965 - JulianMore, LLC                                            | 113965 - JulianMore, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1999263 | PA      | $1999263.00   | 0.52%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114043 - 5913 Lubao Ave, LLC                                        | 114043 - 5913 Lubao Ave, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1148181 | PA      | $1148181.00   | 0.30%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 83824 - 2511 NW 25 Ave., LLC                                        | 83824 - 2511 NW 25 Ave., LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600199 | PA      | $1600199.00   | 0.41%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91530 - RRCAP-FA Blume Road, LLC                                    | 91530 - RRCAP-FA Blume Road, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2957931 | PA      | $2957931.00   | 0.76%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91574 - A5 International Properties, LLC                            | 91574 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184597 | PA      | $184597.00    | 0.05%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91575 - A5 International Properties, LLC                            | 91575 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184923 | PA      | $184923.00    | 0.05%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 102698 - 4798 NE 2nd Ave., LLC                                      | 102698 - 4798 NE 2nd Ave., LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $250000.00    | 0.06%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 103728 - Barcel, LLC                                                | 103728 - Barcel, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206318 | PA      | $206318.00    | 0.05%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 103771 - Rhino Homes, LLC                                           | 103771 - Rhino Homes, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    914328 | PA      | $914328.00    | 0.24%             | 2026-01-01      | Fixed         | 10.07%                | Yes           |                  3 | On Loan: No      |
| 103772 - Rhino Homes, LLC                                           | 103772 - Rhino Homes, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    908427 | PA      | $908427.00    | 0.23%             | 2026-01-01      | Fixed         | 10.07%                | Yes           |                  3 | On Loan: No      |
| 103778 - Erin Maher                                                 | 103778 - Erin Maher                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    895900 | PA      | $895900.00    | 0.23%             | 2026-01-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 103790 - Winner Participations, LLC                                 | 103790 - Winner Participations, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301205 | PA      | $301205.00    | 0.08%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 103980 - KPI Equity Holdings I, LLC                                 | 103980 - KPI Equity Holdings I, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375840 | PA      | $375840.00    | 0.10%             | 2026-02-01      | Fixed         | 9.69%                 | Yes           |                  3 | On Loan: No      |
| 104356 - RRCap - FA Shingletree, LLC                                | 104356 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.23%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104357 - RRCap - FA Shingletree, LLC                                | 104357 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.23%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104358 - RRCap - FA Shingletree, LLC                                | 104358 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.23%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104359 - RRCap - FA Shingletree, LLC                                | 104359 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4197917 | PA      | $4197917.00   | 1.09%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104360 - RRCap - FA Shingletree, LLC                                | 104360 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4570253 | PA      | $4570253.00   | 1.18%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104361 - RRCap - FA Shingletree, LLC                                | 104361 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4741821 | PA      | $4741821.00   | 1.23%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104362 - RRCap - FA Shingletree, LLC                                | 104362 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3825580 | PA      | $3825580.00   | 0.99%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104363 - RRCap - FA Shingletree, LLC                                | 104363 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4369483 | PA      | $4369483.00   | 1.13%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104364 - RRCap - FA Shingletree, LLC                                | 104364 - RRCap - FA Shingletree, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4369483 | PA      | $4369483.00   | 1.13%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104447 - Watermark Homes, LLC                                       | 104447 - Watermark Homes, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1349493 | PA      | $1349493.00   | 0.35%             | 2025-10-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 104480 - Elmer Avenue, LLC                                          | 104480 - Elmer Avenue, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2297238 | PA      | $2297238.00   | 0.59%             | 2026-02-01      | Fixed         | 9.81%                 | Yes           |                  3 | On Loan: No      |
| 104497 - RSBY Holdings, LLC                                         | 104497 - RSBY Holdings, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165270 | PA      | $165270.00    | 0.04%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 104677 - Daest, LLC                                                 | 104677 - Daest, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    785000 | PA      | $785000.00    | 0.20%             | 2026-07-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 105003 - 43 Westwood, LLC                                           | 105003 - 43 Westwood, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1118347 | PA      | $1118347.00   | 0.29%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105004 - 43 Westwood, LLC                                           | 105004 - 43 Westwood, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1434256 | PA      | $1434256.00   | 0.37%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105005 - 43 Westwood, LLC                                           | 105005 - 43 Westwood, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1179685 | PA      | $1179685.00   | 0.31%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120293 - 1812 Hunters Glen, LLC                                     | 120293 - 1812 Hunters Glen, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1666000 | PA      | $1666000.00   | 0.43%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120294 - IVCM Holdings, LLC                                         | 120294 - IVCM Holdings, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    463000 | PA      | $463000.00    | 0.12%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120373 - 46 Fayette, LLC                                            | 120373 - 46 Fayette, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1462460 | PA      | $1462460.00   | 0.38%             | 2027-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120604 - GP Ocala VI, LLC                                           | 120604 - GP Ocala VI, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    557978 | PA      | $557978.00    | 0.14%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120680 - 907 Morton St., LLC                                        | 120680 - 907 Morton St., LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    484253 | PA      | $484253.00    | 0.13%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120798 - Basad, LLC                                                 | 120798 - Basad, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1742500 | PA      | $1742500.00   | 0.45%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120806 - 4848 Fulton, LLC                                           | 120806 - 4848 Fulton, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.26%             | 2026-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 120964 - 4-8 E. Springfiled, LLC                                    | 120964 - 4-8 E. Springfiled, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2230555 | PA      | $2230555.00   | 0.58%             | 2026-07-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 121021 - Black Marlin Group, LLC                                    | 121021 - Black Marlin Group, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2533104 | PA      | $2533104.00   | 0.65%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121026 - Sweet Home Advisors, LLC                                   | 121026 - Sweet Home Advisors, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2865000 | PA      | $2865000.00   | 0.74%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121154 - W. Baker St. Apts, LLC                                     | 121154 - W. Baker St. Apts, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338751 | PA      | $338751.00    | 0.09%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121256 - Corenest Development, LLC                                  | 121256 - Corenest Development, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    171208 | PA      | $171208.00    | 0.04%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121258 - AD Customs, LLC                                            | 121258 - AD Customs, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98484 | PA      | $98484.00     | 0.03%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121259 - GK Capital GP, LLC                                         | 121259 - GK Capital GP, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    737432 | PA      | $737432.00    | 0.19%             | 2025-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121261 - Watson Recovery Enterprises, LLC                           | 121261 - Watson Recovery Enterprises, LLC                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     17250 | PA      | $17250.00     | 0.00%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121262 - LLG Enterprises, LLC                                       | 121262 - LLG Enterprises, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102740 | PA      | $102740.00    | 0.03%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121264 - Ground-up Customz, LLC /  Empower Estates Customs, LLC     | 121264 - Ground-up Customz, LLC /  Empower Estates Customs, LLC     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    306166 | PA      | $306166.00    | 0.08%             | 2026-03-01      | Fixed         | 10.82%                | 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    | 0.08%             | 2025-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121266 - Vertex Custom Homes, LLC                                   | 121266 - Vertex Custom Homes, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    334789 | PA      | $334789.00    | 0.09%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121267 - Manzaba Property Investments, LLC                          | 121267 - Manzaba Property Investments, LLC                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96250 | PA      | $96250.00     | 0.02%             | 2025-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121268 - Hibernia Investment, LLC                                   | 121268 - Hibernia Investment, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    354539 | PA      | $354539.00    | 0.09%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121269 - Aceluxvilla, LLC                                           | 121269 - Aceluxvilla, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    226150 | PA      | $226150.00    | 0.06%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121270 - MZRCO, LLC                                                 | 121270 - MZRCO, LLC                                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46375 | PA      | $46375.00     | 0.01%             | 2025-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122723 - 3302 Park, LLC                                             | 122723 - 3302 Park, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275000.00    | 0.07%             | 2026-04-03      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122724 - 151 S St. NW, LLC                                          | 122724 - 151 S St. NW, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $275000.00    | 0.07%             | 2026-04-03      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122840 - HHH Rentals, LLC                                           | 122840 - HHH Rentals, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    447550 | PA      | $447550.00    | 0.12%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122841 - HHH Rentals, LLC                                           | 122841 - HHH Rentals, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505050 | PA      | $505050.00    | 0.13%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123234 - 5225 Connecticut Owner, LLC & WE 5225 Connecticut Ave, LLC | 123234 - 5225 Connecticut Owner, LLC & WE 5225 Connecticut Ave, LLC | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1750000.00   | 0.45%             | 2026-07-28      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123238 - Prada Home Ventures, LLC                                   | 123238 - Prada Home Ventures, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12960 | PA      | $12960.00     | 0.00%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123392 - 429 13th St. NE, LLC                                       | 123392 - 429 13th St. NE, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7200000 | PA      | $7200000.00   | 1.86%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123411 - RKAI Properties, LLC & Baruj Hashem                        | 123411 - RKAI Properties, LLC & Baruj Hashem                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    251625 | PA      | $251625.00    | 0.07%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123412 - Thirty Seven Sunrise, LLC                                  | 123412 - Thirty Seven Sunrise, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300001 | PA      | $1300001.00   | 0.34%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123424 - S&P Construction & Development, LLC                        | 123424 - S&P Construction & Development, LLC                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42240 | PA      | $42240.00     | 0.01%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123469 - 5601 Fishburn, LLC                                         | 123469 - 5601 Fishburn, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3245000 | PA      | $3245000.00   | 0.84%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123471 - Rental Shop Development, LLC                               | 123471 - Rental Shop Development, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $108000.00    | 0.03%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123488 - IDS Construction Company, LLC                              | 123488 - IDS Construction Company, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1095000.00   | 0.28%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123565 - Duran USA Group, LLC                                       | 123565 - Duran USA Group, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25200 | PA      | $25200.00     | 0.01%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123689 - VIP Homes, LLC                                             | 123689 - VIP Homes, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16950 | PA      | $16950.00     | 0.00%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123842 - VIP Homes, LLC                                             | 123842 - VIP Homes, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21000.00     | 0.01%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123892 - 36 Cyril, LLC                                              | 123892 - 36 Cyril, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    477506 | PA      | $477506.00    | 0.12%             | 2027-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123893 - 36 Cyril, LLC                                              | 123893 - 36 Cyril, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    552198 | PA      | $552198.00    | 0.14%             | 2027-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123904 - Habitus Coconut Grove F1-C, LLC                            | 123904 - Habitus Coconut Grove F1-C, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2579500 | PA      | $2579500.00   | 0.67%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 123913 - 30 NW 59 Street Investment, LLC                            | 123913 - 30 NW 59 Street Investment, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1512986 | PA      | $1512986.00   | 0.39%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 124118 - MIA Residences, LLC                                        | 124118 - MIA Residences, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1197687 | PA      | $1197687.00   | 0.31%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 124121 - MIA Residences, LLC                                        | 124121 - MIA Residences, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1152372 | PA      | $1152372.00   | 0.30%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 124922 - GS West Coast Investments, LLC                             | 124922 - GS West Coast Investments, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3300000.00   | 0.85%             | 2026-04-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114069 - 4940 Cherry, LLC                                           | 114069 - 4940 Cherry, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1326312 | PA      | $1326312.00   | 0.34%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114071 - 3144 Elizabeth, LLC                                        | 114071 - 3144 Elizabeth, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    564573 | PA      | $564573.00    | 0.15%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114193 - 541 Normandy 2024, LLC                                     | 114193 - 541 Normandy 2024, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335197 | PA      | $335197.00    | 0.09%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114219 - AMS Home Invest, LLC                                       | 114219 - AMS Home Invest, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1572440 | PA      | $1572440.00   | 0.41%             | 2026-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114221 - CF 4942 Topanga, LLC                                       | 114221 - CF 4942 Topanga, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1311964 | PA      | $1311964.00   | 0.34%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114305 - 15440 Dickens, LLC                                         | 114305 - 15440 Dickens, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1552500 | PA      | $1552500.00   | 0.40%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114307 - BellaB Real Estate, LLC                                    | 114307 - BellaB Real Estate, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184500 | PA      | $184500.00    | 0.05%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126260 - 805 NW 12th Ave, LLC                                       | 126260 - 805 NW 12th Ave, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $313000.00    | 0.08%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126347 - Lilikoi Two Development, LLC                               | 126347 - Lilikoi Two Development, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1999500 | PA      | $1999500.00   | 0.52%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91576 - A5 International Properties, LLC                            | 91576 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180925 | PA      | $180925.00    | 0.05%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91577 - A5 International Properties, LLC                            | 91577 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140052 | PA      | $140052.00    | 0.04%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 91578 - A5 International Properties, LLC                            | 91578 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126435 | PA      | $126435.00    | 0.03%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 92567 - BSD Drexel, LLC                                             | 92567 - BSD Drexel, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1638800 | PA      | $1638800.00   | 0.42%             | 2025-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 92804 - Dylan Mason Luxury Homes, LLC                               | 92804 - Dylan Mason Luxury Homes, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1688807 | PA      | $1688807.00   | 0.44%             | 2025-11-01      | Fixed         | 10.12%                | Yes           |                  3 | On Loan: No      |
| 94110 - A5 International Properties, LLC                            | 94110 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39283 | PA      | $39283.00     | 0.01%             | 2025-06-17      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 94111 - A5 International Properties, LLC                            | 94111 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143363 | PA      | $143363.00    | 0.04%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 94112 - A5 International Properties, LLC                            | 94112 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139699 | PA      | $139699.00    | 0.04%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 94113 - A5 International Properties, LLC                            | 94113 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118305 | PA      | $118305.00    | 0.03%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 94114 - A5 International Properties, LLC                            | 94114 - A5 International Properties, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33811 | PA      | $33811.00     | 0.01%             | 2025-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 96228 - 10229 -  10233 Eton Avenue, LLC                             | 96228 - 10229 -  10233 Eton Avenue, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2097012 | PA      | $2097012.00   | 0.54%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 96229 - 10229 - 10233 Eton Avenue, LLC                              | 96229 - 10229 - 10233 Eton Avenue, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2083644 | PA      | $2083644.00   | 0.54%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 96483 - Affordable Housing Group LTD, LLC                           | 96483 - Affordable Housing Group LTD, LLC                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1704919 | PA      | $1704919.00   | 0.44%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 96752 - Rhino Homes, LLC                                            | 96752 - Rhino Homes, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2616251 | PA      | $2616251.00   | 0.68%             | 2025-08-01      | Fixed         | 9.82%                 | Yes           |                  3 | On Loan: No      |
| 96921 - 514 LA Flor, LLC                                            | 96921 - 514 LA Flor, LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4078912 | PA      | $4078912.00   | 1.05%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 97931 - 2316 PCDEV, LLC                                             | 97931 - 2316 PCDEV, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3097718 | PA      | $3097718.00   | 0.80%             | 2026-01-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98104 - Desert Modern Development, LLC                              | 98104 - Desert Modern Development, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1514008 | PA      | $1514008.00   | 0.39%             | 2026-03-01      | Fixed         | 10.13%                | Yes           |                  3 | On Loan: No      |
| 98258 - 1740 PCDEV, LLC                                             | 98258 - 1740 PCDEV, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4614831 | PA      | $4614831.00   | 1.19%             | 2025-11-01      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| 98322 - 66 Line, LLC                                                | 98322 - 66 Line, LLC                                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    840000 | PA      | $840000.00    | 0.22%             | 2025-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 98617 - Lakeview Real Estate Fund, LLC                              | 98617 - Lakeview Real Estate Fund, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1006436 | PA      | $1006436.00   | 0.26%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 98618 - Lakeview Real Estate Fund, LLC                              | 98618 - Lakeview Real Estate Fund, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850301 | PA      | $850301.00    | 0.22%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 98619 - Lakeview Real Estate Fund, LLC                              | 98619 - Lakeview Real Estate Fund, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1005436 | PA      | $1005436.00   | 0.26%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 98620 - Lakeview Real Estate Fund, LLC                              | 98620 - Lakeview Real Estate Fund, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1005436 | PA      | $1005436.00   | 0.26%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105006 - 43 Westwood, LLC                                           | 105006 - 43 Westwood, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1194601 | PA      | $1194601.00   | 0.31%             | 2026-08-01      | Fixed         | 10.82%                | 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      | $1574068.00   | 0.41%             | 2026-08-01      | Fixed         | 9.25%                 | Yes           |                  3 | On Loan: No      |
| 105238 - MSR 59 Ridge Homes, LLC                                    | 105238 - MSR 59 Ridge Homes, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    546581 | PA      | $546581.00    | 0.14%             | 2025-05-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 105241 - MSR 59 Ridge Homes, LLC                                    | 105241 - MSR 59 Ridge Homes, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2021583 | PA      | $2021583.00   | 0.52%             | 2025-05-01      | Fixed         | 9.56%                 | Yes           |                  3 | On Loan: No      |
| 114521 - 599 Bayshore 2024, LLC                                     | 114521 - 599 Bayshore 2024, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    596613 | PA      | $596613.00    | 0.15%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114694 - BH Magic Investments, LLC                                  | 114694 - BH Magic Investments, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1403623 | PA      | $1403623.00   | 0.36%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114713 - MG Property Group 2, LLC                                   | 114713 - MG Property Group 2, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    602000 | PA      | $602000.00    | 0.16%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114901 - Torre Projects, LLC                                        | 114901 - Torre Projects, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198375 | PA      | $198375.00    | 0.05%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114902 - Torre Projects, LLC                                        | 114902 - Torre Projects, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    188123 | PA      | $188123.00    | 0.05%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114909 - Loitzk Batim 930, LLC                                      | 114909 - Loitzk Batim 930, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    879114 | PA      | $879114.00    | 0.23%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114913 - Loitzk Batim 930, LLC                                      | 114913 - Loitzk Batim 930, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    879114 | PA      | $879114.00    | 0.23%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114914 - Loitzk Batim 930, LLC                                      | 114914 - Loitzk Batim 930, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1175289 | PA      | $1175289.00   | 0.30%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114920 - Loitzk Batim 930, LLC                                      | 114920 - Loitzk Batim 930, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    789014 | PA      | $789014.00    | 0.20%             | 2026-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 114921 - Mayar International, LLC                                   | 114921 - Mayar International, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    829960 | PA      | $829960.00    | 0.21%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115004 - 2k Development, LLC                                        | 115004 - 2k Development, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1527690 | PA      | $1527690.00   | 0.40%             | 2026-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115005 - 125 Lee Street, LLC                                        | 115005 - 125 Lee Street, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4080000 | PA      | $4080000.00   | 1.05%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115011 - 4115 Shadyglade, LLC                                       | 115011 - 4115 Shadyglade, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2812500 | PA      | $2812500.00   | 0.73%             | 2026-07-01      | Fixed         | 8.68%                 | Yes           |                  3 | On Loan: No      |
| 115081 - Macedo Property Development, LLC                           | 115081 - Macedo Property Development, LLC                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $680000.00    | 0.18%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115108 - Pronghorn Development, LLC                                 | 115108 - Pronghorn Development, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73500 | PA      | $73500.00     | 0.02%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115109 - Pronghorn Development, LLC                                 | 115109 - Pronghorn Development, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83500 | PA      | $83500.00     | 0.02%             | 2026-02-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115205 - Westchester Avenue, LLC                                    | 115205 - Westchester Avenue, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    459000 | PA      | $459000.00    | 0.12%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115231 - Shoreline 940, LLC                                         | 115231 - Shoreline 940, LLC                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    867298 | PA      | $867298.00    | 0.22%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 115378 - Buza Family Trust, LLC                                     | 115378 - Buza Family Trust, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1111000 | PA      | $1111000.00   | 0.29%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121271 - DK Advantage, LLC                                          | 121271 - DK Advantage, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    221880 | PA      | $221880.00    | 0.06%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121272 - Guatehome & Vas, LLC                                       | 121272 - Guatehome & Vas, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    189825 | PA      | $189825.00    | 0.05%             | 2025-09-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121280 - Neighborhood Laundromat, LLC                               | 121280 - Neighborhood Laundromat, LLC                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    619181 | PA      | $619181.00    | 0.16%             | 2025-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121283 - Latin Flooring, LLC                                        | 121283 - Latin Flooring, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    317300 | PA      | $317300.00    | 0.08%             | 2026-03-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121620 - 2305 Tamarind Drive, LLC                                   | 121620 - 2305 Tamarind Drive, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1650000.00   | 0.43%             | 2026-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121644 - BJB 1321 Management, LLC                                   | 121644 - BJB 1321 Management, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2520000.00   | 0.65%             | 2026-05-01      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| 121664 - Platinum Enterprise, LLC                                   | 121664 - Platinum Enterprise, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    684000 | PA      | $684000.00    | 0.18%             | 2026-08-01      | Fixed         | 8.84%                 | Yes           |                  3 | On Loan: No      |
| 121901 - Black Star Development, LLC                                | 121901 - Black Star Development, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1422000 | PA      | $1422000.00   | 0.37%             | 2026-05-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121917 - Bidwell Commons Townhomes, LLC                             | 121917 - Bidwell Commons Townhomes, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    699500 | PA      | $699500.00    | 0.18%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 121927 - TwoRDZ Alpha Project, LLC                                  | 121927 - TwoRDZ Alpha Project, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    621566 | PA      | $621566.00    | 0.16%             | 2026-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122126 - Oak View Development, LLC                                  | 122126 - Oak View Development, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1848750 | PA      | $1848750.00   | 0.48%             | 2026-06-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 122295 - Wolf Contracting, LLC                                      | 122295 - Wolf Contracting, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141179 | PA      | $141179.00    | 0.04%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105242 - MSR 59 Ridge Homes, LLC                                    | 105242 - MSR 59 Ridge Homes, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    427210 | PA      | $427210.00    | 0.11%             | 2025-05-01      | Fixed         | 9.56%                 | Yes           |                  3 | On Loan: No      |
| 105243 - GT Three, LLC                                              | 105243 - GT Three, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2046721 | PA      | $2046721.00   | 0.53%             | 2025-08-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105247 - GT Three, LLC                                              | 105247 - GT Three, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2204439 | PA      | $2204439.00   | 0.57%             | 2025-11-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 105261 - SeaScape Homes, LLC                                        | 105261 - SeaScape Homes, LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1314587 | PA      | $1314587.00   | 0.34%             | 2026-04-01      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| 105366 - Rhino Homes, LLC                                           | 105366 - Rhino Homes, LLC                                           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1235000.00   | 0.32%             | 2026-02-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 105459 - Oleduga, LLC                                               | 105459 - Oleduga, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    259000 | PA      | $259000.00    | 0.07%             | 2026-08-01      | Fixed         | 9.63%                 | Yes           |                  3 | On Loan: No      |
| 105465 - NoHo 37, LLC                                               | 105465 - NoHo 37, LLC                                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    552000 | PA      | $552000.00    | 0.14%             | 2025-12-01      | Fixed         | 9.50%                 | Yes           |                  3 | On Loan: No      |
| 105880 - B Cove Investments, LLC                                    | 105880 - B Cove Investments, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2100000.00   | 0.54%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 106039 - Moonlighting Property Investment, LLC                      | 106039 - Moonlighting Property Investment, LLC                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    299464 | PA      | $299464.00    | 0.08%             | 2026-02-01      | Fixed         | 9.94%                 | 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    | 0.20%             | 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    | 0.20%             | 2026-03-01      | Fixed         | 9.13%                 | Yes           |                  3 | On Loan: No      |
| 124951 - Robert Eric Epps, LLC                                      | 124951 - Robert Eric Epps, LLC                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $135000.00    | 0.03%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 124986 - MAAS Rehab, LLC & Mary Ellen and Mary Lee, LLC             | 124986 - MAAS Rehab, LLC & Mary Ellen and Mary Lee, LLC             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18500 | PA      | $18500.00     | 0.00%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125124 - 526 NW 15th Terr., LLC                                     | 125124 - 526 NW 15th Terr., LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254970 | PA      | $254970.00    | 0.07%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125125 - 634 NW 12th Ave, LLC                                       | 125125 - 634 NW 12th Ave, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314463 | PA      | $314463.00    | 0.08%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125229 - La Sabana, LLC                                             | 125229 - La Sabana, LLC                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $240000.00    | 0.06%             | 2027-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125266 - Bella Vida 3, LLC                                          | 125266 - Bella Vida 3, LLC                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $675000.00    | 0.17%             | 2026-07-01      | Fixed         | 10.82%                | 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        |     81076 | PA      | $81076.00     | 0.02%             | 2026-12-01      | Fixed         | 10.82%                | 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        |     30000 | PA      | $30000.00     | 0.01%             | 2026-12-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125300 - Andyvale, LLC                                              | 125300 - Andyvale, LLC                                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260250 | PA      | $260250.00    | 0.07%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125328 - New Ace Properties, LLC                                    | 125328 - New Ace Properties, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1704500 | PA      | $1704500.00   | 0.44%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125337 - Schurman Cottages, LLC                                     | 125337 - Schurman Cottages, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $180000.00    | 0.05%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125430 - Bravo Investments Of Florida, LLC                          | 125430 - Bravo Investments Of Florida, LLC                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    469250 | PA      | $469250.00    | 0.12%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125565 - M & J Pham Development, LLC                                | 125565 - M & J Pham Development, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1400000.00   | 0.36%             | 2027-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125570 - M & J Pham Development, LLC                                | 125570 - M & J Pham Development, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3571750 | PA      | $3571750.00   | 0.92%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125583 - Open Water Realty, LLC                                     | 125583 - Open Water Realty, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12600 | PA      | $12600.00     | 0.00%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125623 - Willa Mae Investments, LLC                                 | 125623 - Willa Mae Investments, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1412917 | PA      | $1412917.00   | 0.37%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125690 - 625 Worthington, LLC                                       | 125690 - 625 Worthington, LLC                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    354000 | PA      | $354000.00    | 0.09%             | 2027-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125694 - Damai Resort Investments, LLC                              | 125694 - Damai Resort Investments, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1811250 | PA      | $1811250.00   | 0.47%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125774 - One Star Development, LLC                                  | 125774 - One Star Development, LLC                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1560000.00   | 0.40%             | 2026-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 125941 - Bravo Investments Of Florida, LLC                          | 125941 - Bravo Investments Of Florida, LLC                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    386100 | PA      | $386100.00    | 0.10%             | 2026-10-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126022 - Charleston Affordable Development Group, LLC               | 126022 - Charleston Affordable Development Group, LLC               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $39000.00     | 0.01%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126032 - Charleston Affordable Development Group, LLC               | 126032 - Charleston Affordable Development Group, LLC               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60000.00     | 0.02%             | 2027-01-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |
| 126105 - B Life Capital 26, LLC                                     | 126105 - B Life Capital 26, LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1287000 | PA      | $1287000.00   | 0.33%             | 2027-07-01      | Fixed         | 10.82%                | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-18

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

**Signature:** /s/ Richard Duff

**Name of Signer:** Richard Duff

**Title:** Treasurer