Investor Presentaiton
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Enterprise Mortgage Loan Portfolio
Mortgage Loans represent 12% of invested assets
Senior loans with prudent loan-to-value and debt
service coverage ratios on stabilized properties
Very high-quality commercial mortgage portfolio:
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Weighted average LTV of 54% (2.4% with LTV > 70%)
Weighted average DSCR of 2.2x (2.4% with DSCR < 1.2x)
Weighted average debt yield of 12.4% (2.9% with DY < 8%)
78% CM1, 21% CM2, 1% CM3, and just one CM4 of $1MM
• CMLS focused on stable property types, such as
multifamily, grocery-anchored retail, and industrial
Only 1% of mortgage holdings mature in
remainder of 2023, with another 1% maturing in
2024
Enterprise Mortgages by Property Type
Retail 25%
Office Building 13%
Apartment Complex 20%
BV1:
$4.5b
Other Commercial 5%
Industrial 37%
Enterprise Mortgages by Region
West South Central 5%
West North Central 8%
East North Central 16%
East South Central 4%
South Atlantic 15%
BV1:
$4.5b
Middle Atlantic 13%
Pacific 27%
1Statutory book value as of June 30, 2023. LTV calculated using current cap rates and most recent net operating income.
Mountain 11%
New England 1%
Mutual Отана
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