Just wanted to hear any updates your team might have now that Texas has moved to change its legislation on traveling HFCs. Has that changed how your team's looking at your existing loans as well as any future loans there, just given your Texas multifamily exposure?

Jul 30, 2025 / receipt, needs a key / Mike Mazzei, CEO | earnings call 2025-07-30 | transcript 581f70c4-01e9-4f0d-aa2b-8dae22ea703b | chars 29261-29526 | segment 30

% Change vs. Q1'26 (2%)

ir_statement / Aug 8, 2026 / receipt

% Change vs. Q1'26 (20%)

ir_statement / Aug 8, 2026 / receipt

As part of the sale, the purchaser will assume the $200 million mortgage note payable.

ir_statement / Aug 8, 2026 / receipt

Currently in negotiation with tenant for TI / extension package.

ir_statement / Aug 8, 2026 / receipt

executed a purchase and sale agreement for the industrial net lease asset for a gross sales price of $300 million.

ir_statement / Aug 8, 2026 / receipt

The sale is expected to close in the third quarter 2026

ir_statement / Aug 8, 2026 / receipt

We are currently negotiating an extension with our lender

ir_statement / Aug 8, 2026 / receipt

operating costs and business disruption may be greater than expected

ir_statement / Aug 8, 2026 / receipt

the ability to execute CRE CLO’s on a go forward basis, including at a reduced cost of capital

ir_statement / Aug 8, 2026 / receipt

$1.4B of repurchase facilities availability(3)

ir_statement / Aug 8, 2026 / receipt

$30M of corporate revolver availability

ir_statement / Aug 8, 2026 / receipt

2.7x Debt-to-equity ratio(4)

ir_statement / Aug 8, 2026 / receipt