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Borrower

A••••• O•• P•••••

Equity Real Estate Investment Trusts (REITs)group grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Also written as: ABF Equity; Asset Based Finance; Private Equity

Nothing material in the last 200 days. Last change: 31 Dec 2025, Consensus mark 95¢ on cost, down from 100¢ a year ago, 100¢ last quarter.

Mark path, consensus per quarter end
Q4 2024: 100¢Q1 2025: 100¢Q2 2025: 100¢Q3 2025: 100¢Q4 2025: 95¢100¢ · 100¢ · 100¢ · 100¢ · 95¢Q4 2024 to Q4 2025
Principal held
at least $69.4M
sum of BDC pieces, a lower bound
Fair value
$123M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
2 equity pieces beside them
Next maturity
Mar 1, 2034
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
LenderExposureCurrent markQoQ change
F• K•• C•••••• C•••$69.4M95¢-5 pts
Every BDC piece · 6 positions across 1 lenderlargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
F• K•• C•••••• C•••term loan lien unstated
T••• L•••
$34.7M$34.7M
100c
S+700 bp
F• K•• C•••••• C•••term loan lien unstated
T••• L••• , Equity Real Estate Investment Trusts (R••••)
$34.7M$34.7M
100c
S+700 bp
F• K•• C•••••• C•••equity equity
Equity Real Estate Investment Trusts (R••••)
Not disclosed$6.3M
61c
F• K•• C•••••• C•••term loan lien unstated
T••• L•••
Not disclosed$34.7MS+700 bp
F• K•• C•••••• C•••equity equity
ABF Equity
Not disclosed$6.3M
View all 6 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
F• K•• C•••••• C•••unstated lien unstatedNot disclosed$6.3M
61c
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
FacilityHeldOn costPricingMaturityBDCs
term loan lien unstated
exited Dec 31, 2025
at least $69.4M100cS+700 bpMar 1, 20341
Equity pieces beside the debt: equity ($12.6M fair value, 1 BDC), other ($6.3M fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Dec 31, 20251$69.4M$104M150c0
Sep 30, 20251$34.1M$68.2M200c0
Jun 30, 20251$33.5M$67.0M200c0
Mar 31, 20251$32.9M$65.8M200c0
All 15 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Dec 31, 20241$64.6M$96.9M150c2
Sep 30, 20241$31.7M$63.4M200c1
Jun 30, 20241$31.1M$62.2M200c1
Mar 31, 20241$30.6M$61.2M200c1
Dec 31, 20231$0$0n/a0
Sep 30, 20231$0$0n/a0
Jun 30, 20231$0$0n/a0
Mar 31, 20231$0$0n/a0
Dec 31, 20221$0$0n/a0
Sep 30, 20221$0$0n/a0
Dec 31, 20211$0$0n/a0
What changed
Every change including routine ones
Identity
Group key
AVENUE ONEderivedthe codename stem after legal suffixes and deal words
Spellings
1 across 1 BDCderived
Industry
Equity Real Estate Investment Trusts (REITs)reportedas one filer wrote it