DFX Intelligence
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Borrower
L•••• M••••••• T•••• 2••••••••
Real Estate Management & Developmentgroup grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Also written as: ABS
Nothing material in the last 200 days. Last change: 30 Sep 2025, Consensus mark 102¢ on cost, up from 101¢ a year ago, 100¢ last quarter.
Mark path, consensus per quarter end
101¢ · 100¢ · 101¢ · 100¢ · 102¢Q3 2024 to Q3 2025
Principal held
at least $12.0M
sum of BDC pieces, a lower bound
Fair value
$12.2M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2024
latest Sep 30, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| K•• F• I••••• T•••• | $7.51M | 102¢ | +2 pts |
| K•• F• I••••• T•••• S••••• | $4.51M | 102¢ | +2 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•• F• I••••• T•••• | unstated lien unstated | $7.5M | $7.6M 102c | 9.30% |
| K•• F• I••••• T•••• S••••• | unstated lien unstated | $4.5M | $4.6M 102c | S+930 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Sep 30, 2025 | at least $12.0M | 102c | S+930 bp | unstated | 2 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 2 | $12.0M | $12.2M | 102c | 0 |
| Jun 30, 2025 | 2 | $12.0M | $12.1M | 100c | 0 |
| Mar 31, 2025 | 2 | $12.0M | $12.1M | 101c | 0 |
| Dec 31, 2024 | 2 | $24.0M | $24.1M | 100c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 2 | $12.0M | $12.2M | 101c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- New borrower on a BDC scheduleSep 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- L•••• MORTGAGE TRUST 2024 RTL4derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Real Estate Management & Developmentreportedas one filer wrote it