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Borrower

B••••••• C•••••• L••• A••••••••• T•••• 2••••••••

Real Estate Management & Developmentgroup grade Aon a schedule nowsponsor unattributed
Also written as: Structured
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 2 of 2 lenders
    on non-accrual

    Non-accrual at 2 of 2 lenders on the latest schedules, first placed in Q1 2026.

    since Q1 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.

    FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender →
  2. 53¢ → 76¢
    consensus mark

    Consensus mark 76¢ on cost, up from 53¢ in Q4 2025, 86¢ last quarter.

    Q2 2026 · The lenders' own valuations moved back up.

    Derived1 of 2 lenders' own marks, weighted by principal
  3. $2.71M
    principal outstanding

    $2.71M principal held by 2 lenders; matures Jul 2030.

    Q2 2026 · Refinancing is due in 45 months at a 76¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
  4. 86¢ → 76¢
    -10 pts, one lender

    K•• F• I••••• T•••• marked it 86¢ → 76¢, the largest move among 2 lenders this quarter.

    Q2 2026 · One holder repriced far more than the rest.

    FactK•• F• I••••• T•••• schedule of investmentsOpen the lender →
Mark path, consensus per quarter end
Q4 2025: 53¢Q1 2026: 86¢Q2 2026: 76¢53¢ · 86¢ · 76¢Q4 2025 to Q2 2026
Principal held
at least $2.7M
sum of BDC pieces, a lower bound
Fair value
$865,000
36c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 1, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2025
latest Jun 30, 2026
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
F• K•• C•••••• C•••$1.5M0¢ as filed, not countedno comparable mark
K•• F• I••••• T••••$1.21M76¢-10 pts
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
F• K•• C•••••• C•••subordinated debt unsecured or subordinated
M••••••••
$1.5M$0
0c
S+1800 bp
K•• F• I••••• T••••term loan lien unstated
T••• L•••
$981,000$836,000
85c
7.30%
K•• F• I••••• T••••subordinated debt unsecured or subordinated
M••••••••
$164,000$29,000
18c
8.00%
K•• F• I••••• T••••subordinated debt unsecured or subordinated
M••••••••
$67,000$0
0c
18.00%
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
unsecured or subordinated subordinated debt unsecured or subordinatedat least $1.7M2cS+1800 bpJul 1, 20302
term loan lien unstatedat least $981,00085c7.30%unstated1
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20262$2.7M$865,00036c0
Mar 31, 20262$3.2M$1.1M41c0
Dec 31, 20252$8.4M$3.7M55c0
What changed
Full timeline · 9 events
Every change including routine ones
Identity
Group key
BUILDERS CAPITAL LOAN TRUST 2022 RTL1derivedthe codename stem after legal suffixes and deal words
Spellings
1 across 2 BDCsderived
Industry
Real Estate Management & Developmentreportedas one filer wrote it