ADDED
As of March 17, 2026, there were 52,399,265 outstanding shares of common stock, $0.01 par value.
Management s Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.
We are externally managed by our manager, Lument Investment Management, LLC (the "Manager" or "Lument IM") pursuant to the terms of our Management Agreement (the "Management Agreement").
ORIX is a publicly traded, Tokyo-based international financial services company with assets in excess of $116 billion as of December 2025 and was ranked number 405 on Forbes' 2025 Global 2000: World's Biggest Public Companies.
As of December 31, 2025, Lument had over 550 employees located in over 30 offices throughout the United States.
We finance our investments in transitional multifamily and other CRE loans through matched term non-recourse secured borrowings, including CRE collateralized loan obligations ("CLO"), which are not subject to margin calls or additional collateralization requirements and repurchase facilities, which are only subject to credit marks.
Our Portfolio Transitional Multifamily and Commercial Real Estate Loans As of December 31, 2025, our mortgage loan investment portfolio consisted of 61 senior secured floating rate loans with an aggregate unpaid principal balance of $1.1 billion, collectively having a weighted average coupon of 7.2% and a weighted average term to maturity of 1.7 years.
As of December 31, 2025, 92.7% of the portfolio was supported by multifamily assets.
During 2025, the Company originated or acquired $403.9 million in loans, realized $266.6 million of loan repayments and transitioned $62.6 million in loans to real estate owned.
This activity resulted in a net loan principal balance increase of $74.7 million.
REMOVED
As of March 17, 2025, there were 52,309,209 outstanding shares of common stock, $0.01 par value.
Management s Discussion and Analysis of Financial Condition and Results of Operations 35 Item 8.
We are externally managed by our manager, Lument Investment Management, LLC (the "Manager" or "Lument IM") pursuant to the terms of our management agreement.
ORIX is a publicly traded, Tokyo-based international financial services company with assets in excess of $107 billion as of December 2024 and was ranked number 379 on Forbes 2024 Global 2000: World's Biggest Public Companies.
As of December 31, 2024, Lument had approximately 600 employees located in over 30 offices throughout the United States.
We finance our current investments in transitional multifamily and other CRE loans primarily through matched term non-recourse secured borrowings, including CRE collateralized loan obligations ("CLO"), which are not subject to margin calls or additional collateralization requirements.
We may utilize warehouse repurchase agreements or other forms of financing in the future.
Our Portfolio Transitional Multifamily and Commercial Real Estate Loans As of December 31, 2024, our mortgage loan investment portfolio consisted of 65 senior secured floating rate loans with an aggregate unpaid principal balance of $1.1 billion, collectively having a weighted average coupon of 8.1% and a weighted average term to maturity of 2.1 years.
As of December 31, 2024, 92.3% of the portfolio was supported by multifamily assets.
During 2024, the Company originated or acquired $58.4 million in loans and realized $391.0 million of loan repayments.