The Trust owns 2116 Chestnut, a stabilized Class A, 34-story, 321-unit apartment community with 8,171 square feet of ground-floor retail in the Rittenhouse Square area of Philadelphia, bought from an unaffiliated seller in May 2025. The PPM states three objectives: distribute annual cash flow per the Exhibit A targets, manage the Property to maintain its long-term value, and sell the Property before the loan matures in June 2035. The Property is net leased to a sponsor-affiliated master tenant that operates it through Harbor Group, with Greystar as sub-manager.