
(in thousands)	March 31, 2026	December 31, 2025
REO, held for sale:
Mixed use	$6,240	$19,709
Multi-family	86,724	79,141
Lodging	25,094	8,730
Residential	147,985	168,659
Office	9,797	9,686
Retail	3,880	3,880
Land	71,411	70,152
Other	544	187
Total REO, held for sale	$351,675	$360,144
REO, held for use:
Land	21,469	21,469
Building and improvements, net	224,253	225,355
Furniture, fixtures and equipment, net	12,818	13,257
Total REO, held for use	$258,540	$260,081
Total real estate owned	$610,215	$620,225

•Depreciation expense related to REO, held for use was $1.6 million for the three months ended March 31, 2026.

Accumulated depreciation related to REO, held for use was $4.4 million as of March 31, 2026. There was no

such depreciation expense or accumulated depreciation as of or for the three months ended March 31, 2025.

•Other REO excludes $15.3 million as of both March 31, 2026 and December 31, 2025, of real estate owned,