GS Mortgage Securities Corp Ii FWP Free writing prospectus

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-226082-10

IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED SECURITIES

The securities offered by these materials are being offered when, as and if issued. In particular, you are advised that the offered securities, and the asset pool backing them, are subject to modification or revision (including, among other things, the possibility that one or more classes of securities may be split, combined or eliminated) at any time prior to issuance or availability of a final prospectus.

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-226082) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Academy Securities, Inc., Drexel Hamilton, LLC, any other underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-471-2526 or if you email a request to prospectus-ny@gs.com.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

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BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

% of Initial Pool Balance

% of Loan Balance

Mortgage Loan Originator

Mortgage Loan Seller

Related Group

Crossed Group

Address

City

County

State

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

9.9%

100.0%

GSBI, DBRI, JPMCB

GSMC, GACC, JPMCB

NAP

300, 307, 311, 322, 333 Airport Boulevard

Burlingame

San Mateo

California

Loan

9, 18, 19, 20

SOMA Teleco Office

8.5%

100.0%

DBRI

GACC

NAP

274 Brannan Street

San Francisco

California

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

7.4%

100.0%

DBRI

GACC

NAP

300 Pine Street

Seattle

King

Washington

Loan

4800-4900 Fournace Place

4.7%

100.0%

GSBI

GSMC

NAP

4800-4900 Fournace Place

Bellaire

Harris

Texas

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

4.1%

100.0%

CREFI, BANA, BMO

CREFI

NAP

909 Third Avenue

New York

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

4.0%

100.0%

GSBI

GSMC

NAP

777 South Flagler Drive

West Palm Beach

Palm Beach

Florida

Loan

2600 El Camino Real

3.8%

100.0%

GSBI

GSMC

NAP

2600 El Camino Real

Palo Alto

Santa Clara

California

Loan

175 Progress Place

3.8%

100.0%

CREFI

NAP

175 Progress Place

Cincinnati

Hamilton

Ohio

Loan

42, 43

Boston Scientific

3.3%

100.0%

DBRI

GACC

NAP

780 Brookside Drive

Spencer

Owen

Indiana

Loan

9, 11, 44, 45, 46

1985 Marcus

3.1%

100.0%

GSBI

GSMC

NAP

1985 Marcus Avenue

New Hyde Park

Nassau

New York

Loan

2501 Seaport

2.8%

100.0%

CREFI

NAP

2501 Seaport Drive

Chester

Delaware

Pennsylvania

Loan

48, 49, 50, 51

100 Bradley

2.7%

100.0%

DBRI

GACC

NAP

100 Bradley Hill Parkway

Blauvelt

Rockland

New York

Loan

618 Bushwick

2.5%

100.0%

JPMCB

NAP

616-638 Bushwick Avenue

Brooklyn

Kings

New York

Loan

Amazon Campbellsville Fulfillment Center

2.4%

100.0%

CREFI

NAP

1150 South Columbia Avenue

Campbellsville

Taylor

Kentucky

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

2.1%

100.0%

JPMCB

NAP

500 West 33rd Street

New York

Loan

Nautica Pointe

2.1%

100.0%

GSBI

GSMC

NAP

9226 White Wing Drive

Ypsilanti

Washtenaw

Michigan

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

2.1%

CREFI, JPMCB

NAP

Various

Houston

Harris

Texas

17.01

Property

Galleria Tower I

1.0%

46.2%

2700 Post Oak Boulevard

Houston

Harris

Texas

17.02

Property

Galleria Tower II

0.6%

30.0%

5051 Westheimer Road

Houston

Harris

Texas

17.03

Property

Galleria Financial Center

0.5%

23.7%

5065-5075 Westheimer Road

Houston

Harris

Texas

Loan

GE Aviation New Hampshire

1.9%

100.0%

GSBI

GSMC

NAP

13 Industrial Park Drive

Hooksett

Merrimack

New Hampshire

Loan

66, 67, 68

2000 Collins Avenue

1.8%

100.0%

JPMCB

NAP

2000 Collins Avenue

Miami Beach

Miami-Dade

Florida

Loan

9, 69

U.S. Industrial Portfolio VI

1.7%

GSBI

GSMC

NAP

Various

20.01

Property

True Value

0.5%

26.7%

308 South Division Street

Harvard

McHenry

Illinois

20.02

Property

Belnick

0.4%

21.4%

4350 Ball Ground Highway

Canton

Cherokee

Georgia

20.03

Property

Tufco - 3161 South Ridge Road

0.2%

11.0%

3161 South Ridge Road

Ashwaubenon

Brown

Wisconsin

20.04

Property

Pro Con - 109 Maplewood Drive

0.2%

9.6%

109 Maplewood Drive

Hazle Township

Luzerne

Pennsylvania

20.05

Property

Total Logistics

0.1%

7.9%

2900 Granada Lane North

Oakdale

Washington

Minnesota

20.06

Property

Pro Con - 2441 East Glendale Avenue

0.1%

6.9%

2441 East Glendale Avenue

Appleton

Outagamie

Wisconsin

20.07

Property

Amaray

0.1%

6.7%

1300 West Park Road

Elizabethtown

Hardin

Kentucky

20.08

Property

Pro Con - 2430 East Glendale Avenue

0.1%

4.9%

2430 East Glendale Avenue

Appleton

Outagamie

Wisconsin

20.09

Property

Tufco - 1205 Burris Road

0.0%

2.6%

1205 Burris Road

Newton

Catawba

North Carolina

20.10

Property

Tufco - 1055 Parkview Road

0.0%

2.1%

1055 Parkview Road

Ashwaubenon

Brown

Wisconsin

Loan

9, 71, 72

JW Marriott Nashville

1.7%

100.0%

GSBI

GSMC

NAP

201 8th Avenue South

Nashville

Davidson

Tennessee

Loan

The Promontory

1.7%

100.0%

JPMCB

NAP

11440 West Bernardo Court

San Diego

California

Loan

18 Spencer Street

1.6%

100.0%

CREFI

NAP

18 Spencer Street

Brooklyn

Kings

New York

Loan

9, 74, 75, 76

Boca Office Portfolio

1.6%

CREFI, BANA

CREFI

NAP

Various

Boca Raton

Palm Beach

Florida

24.01

Property

Boardwalk @ 18th

0.5%

30.3%

6909 Southwest 18th Street

Boca Raton

Palm Beach

Florida

24.02

Property

Fountains Center

0.5%

28.8%

7000-7700 West Camino Real

Boca Raton

Palm Beach

Florida

24.03

Property

City National Park

0.5%

28.8%

7000 Palmetto Park Road and 22125 Powerline Road

Boca Raton

Palm Beach

Florida

24.04

Property

79, 80

Grove Centre

0.2%

12.1%

21301 Powerline Road

Boca Raton

Palm Beach

Florida

Loan

9, 81

Cabinetworks Portfolio

1.4%

GSBI

GSMC

NAP

Various

Ohio

25.01

Property

15535 South State Avenue

0.9%

61.3%

15535 South State Avenue

Middlefield

Geauga

Ohio

25.02

Property

150 Grand Valley Avenue

0.3%

23.1%

150 Grand Valley Avenue

Orwell

Ashtabula

Ohio

25.03

Property

16052 Industrial Parkway

0.2%

15.5%

16052 Industrial Parkway

Middlefield

Geauga

Ohio

Loan

82, 83

Live Nation Downtown LA

1.3%

100.0%

CREFI

NAP

1050 & 1060 South Hill Street

Los Angeles

California

Loan

Kokot Portfolio

1.2%

CREFI

NAP

Various

New York

27.01

Property

638-640 East 14th Street

0.4%

28.9%

638-640 East 14th Street

New York

27.02

Property

217 East 22nd Street

0.3%

26.8%

217 East 22nd Street

New York

27.03

Property

239 West 15th Street

0.2%

12.8%

239 West 15th Street

New York

27.04

Property

106 East 7th Street

0.1%

10.7%

106 East 7th Street

New York

27.05

Property

426 East 77th Street

0.1%

10.6%

426 East 77th Street

New York

27.06

Property

67 Saint Mark’s Place

0.1%

10.2%

67 Saint Mark’s Place

New York

Loan

16-18 Squadron Boulevard

1.2%

100.0%

CREFI

NAP

16-18 Squadron Boulevard

New City

Rockland

New York

Loan

85, 86, 87

Expressway Marketplace

1.2%

100.0%

DBRI

GACC

NAP

561-605 Rohnert Park Expressway West

Rohnert Park

Sonoma

California

Loan

7828 Georgia Avenue NW

1.1%

100.0%

CREFI

NAP

7828 Georgia Avenue Northwest and 7838 Eastern Avenue Northwest

Washington

District of Columbia

Loan

9, 89

141 Livingston

1.0%

100.0%

CREFI

NAP

141 Livingston Street

Brooklyn

Kings

New York

Loan

2233 Nostrand Avenue

0.9%

100.0%

CREFI

NAP

2233 Nostrand Avenue

Brooklyn

Kings

New York

Loan

Birmingham Mixed Use Portfolio

0.9%

DBRI

GACC

NAP

Various

Birmingham

Jefferson

Alabama

33.01

Property

2014 Morris Avenue

0.4%

42.4%

2014 Morris Avenue

Birmingham

Jefferson

Alabama

33.02

Property

209 41st Street South

0.3%

31.8%

209 41st Street South

Birmingham

Jefferson

Alabama

33.03

Property

1024 20th Street South

0.2%

25.8%

1024 20th Street South

Birmingham

Jefferson

Alabama

Loan

1111 Southern Minerals Road

0.8%

100.0%

JPMCB

NAP

1111 Southern Minerals Road

Corpus Christi

Nueces

Texas

Loan

9, 92

At Home - Willow Grove

0.8%

100.0%

GSBI

GSMC

NAP

2620 West Moreland Road

Willow Grove

Montgomery

Pennsylvania

Loan

VanWest MI Portfolio

0.8%

CREFI

NAP

Various

Michigan

36.01

Property

Shelby

0.4%

46.3%

6625 23 Mile Road

Shelby Township

Macomb

Michigan

36.02

Property

Warren

0.2%

21.1%

28000 Mound Road

Warren

Macomb

Michigan

36.03

Property

Rockford

0.1%

16.8%

4121 14 Mile Road Northeast

Rockford

Kent

Michigan

36.04

Property

Belmont

0.1%

15.8%

5720 Samrick Avenue Northeast

Belmont

Kent

Michigan

Loan

Teel Plastics Portfolio

0.8%

DBRI

GACC

NAP

Various

Baraboo

Sauk

Wisconsin

37.01

Property

1060 Teel Court

0.6%

76.6%

1060 Teel Court

Baraboo

Sauk

Wisconsin

37.02

Property

426 Hitchcock Street

0.2%

23.4%

426 Hitchcock Street

Baraboo

Sauk

Wisconsin

Loan

Signal Hill Gateway

0.7%

100.0%

DBRI

GACC

NAP

3055-3075 California Avenue

Signal Hill

Los Angeles

California

Loan

Rouzan Marketplace

0.7%

100.0%

CREFI

NAP

4841 Rouzan Square Avenue and 6220 Corporate Boulevard

Baton Rouge

East Baton Rouge

Louisiana

Loan

Radiance Technologies

0.7%

100.0%

CREFI

NAP

3715 Pentagon Boulevard

Beavercreek

Greene

Ohio

Loan

475 Grand Street

0.6%

100.0%

CREFI

NAP

475 Grand Street

Brooklyn

Kings

New York

Loan

94, 95

Mile High Multifamily Portfolio

0.5%

JPMCB

NAP

Various

Colorado

42.01

Property

Sunrise Apartments

0.2%

41.7%

15571-15573 East 13th Avenue

Aurora

Arapahoe

Colorado

42.02

Property

Olive Tree Apartments

0.2%

35.0%

2550-2560 Ogden Street

Denver

Colorado

42.03

Property

Tangiers Apartments

0.1%

23.3%

1877 South Federal Boulevard

Denver

Colorado

Loan

Mid Cape Flex

0.5%

100.0%

CREFI

NAP

71-79 Mid Cape Terrace

Cape Coral

Lee

Florida

Loan

500 W Superior

0.5%

100.0%

CREFI

NAP

500 West Superior Street

Chicago

Cook

Illinois

Loan

PDX Front Ave Industrial

0.4%

100.0%

CREFI

NAP

4927 Northwest Front Avenue

Portland

Multnomah

Oregon

Loan

2517 North Ontario

0.4%

100.0%

CREFI

NAP

2517 North Ontario Street

Burbank

Los Angeles

California

Loan

4 Storage - Red Lion

0.2%

100.0%

CREFI

NAP

3101 Red Lion Road

Philadelphia

Pennsylvania

A-1-1

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Zip Code	General Property Type	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %	Administrative Fee Rate %
																	1
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	94010	Office	Suburban	2021	NAP	805,118	SF	471.98	120,000,000	120,000,000	120,000,000	3.01680%	0.01207%

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	94107	Office	CBD	1923, 1924	1984, 2011-2013, 2017	110,717	SF	925.78	102,500,000	102,500,000	102,500,000	3.66000%	0.01082%
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	98101	Office	CBD	1929	2017-2021	774,412	SF	303.33	90,000,000	90,000,000	90,000,000	3.004833%	0.01082%
4	Loan	26	1	4800-4900 Fournace Place	77401	Office	Medical	1965, 1975	2020	564,739	SF	100.05	56,500,000	56,500,000	43,805,985	3.35100%	0.03082%

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	10022	Office	CBD	1968	2011	1,350,756	SF	174.42	50,000,000	50,000,000	50,000,000	3.23000%	0.01207%
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	33401	Office	CBD	1985, 1988	2018-2020	448,885	SF	442.25	48,520,000	48,520,000	48,520,000	3.340025%	0.01082%
7	Loan	40	1	2600 El Camino Real	94306	Office	Suburban	2020	NAP	66,454	SF	697.47	46,350,000	46,350,000	46,350,000	3.73400%	0.01082%
8	Loan	41	1	175 Progress Place	45246	Industrial	Flex	1964, 1972	2013	931,982	SF	49.36	46,000,000	46,000,000	37,449,245	3.82000%	0.01082%
9	Loan	42, 43	1	Boston Scientific	47460	Industrial	Flex	1986	2020	258,375	SF	153.75	39,725,850	39,725,850	39,725,850	3.29200%	0.01082%
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	11042	Office	Suburban	1983	2019	312,210	SF	177.76	37,000,000	37,000,000	29,236,869	3.85600%	0.01082%
11	Loan	47	1	2501 Seaport	19013	Office	Suburban	1919	2018	400,890	SF	84.81	34,000,000	34,000,000	26,820,933	3.81000%	0.02082%
12	Loan	48, 49, 50, 51	1	100 Bradley	10913	Self Storage	Art Storage	1983, 2003	2017-2018	133,545	SF	243.36	32,500,000	32,500,000	27,137,002	3.69000%	0.01082%
13	Loan	52	1	618 Bushwick	11206	Multifamily	Mid Rise	1968	2017	99	Units	303,030.30	30,000,000	30,000,000	30,000,000	4.00400%	0.01082%
14	Loan		1	Amazon Campbellsville Fulfillment Center	42718	Industrial	Warehouse/Distribution	1994	1999, 2015	727,000	SF	40.23	29,250,000	29,250,000	29,250,000	3.78000%	0.02082%
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	10001	Office	CBD	2019	NAP	44,954	SF	1,579.39	26,000,000	26,000,000	26,000,000	3.37100%	0.01082%
16	Loan		1	Nautica Pointe	48197	Multifamily	Garden	2020	NAP	142	Units	183,098.59	26,000,000	26,000,000	26,000,000	4.07500%	0.01082%
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	77056	Office	CBD	Various	Various	1,067,672	SF	84.19	25,000,000	24,969,936	20,185,175	4.46000%	0.01082%
17.01	Property		1	Galleria Tower I	77056	Office	CBD	1974	2002, 2020	493,695	SF		11,560,081	11,546,179	9,333,691
17.02	Property		1	Galleria Tower II	77056	Office	CBD	1970	1992, 2005, 2020	320,687	SF		7,509,024	7,499,994	6,062,839
17.03	Property		1	Galleria Financial Center	77056	Office	CBD	1977	2020	253,290	SF		5,930,894	5,923,762	4,788,646
18	Loan	65	1	GE Aviation New Hampshire	03106	Industrial	Manufacturing	1960, 2016	NAP	157,464	SF	147.97	23,300,000	23,300,000	23,300,000	4.32300%	0.01082%
19	Loan	66, 67, 68	1	2000 Collins Avenue	33139	Retail	Unanchored	2010	2020	35,482	SF	622.85	22,100,000	22,100,000	22,100,000	3.94400%	0.01082%
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	Various	Industrial	Various	Various	Various	2,981,955	SF	27.16	21,000,000	21,000,000	21,000,000	3.71600%	0.01082%
20.01	Property		1	True Value	60033	Industrial	Warehouse/Distribution	1942	1982	1,331,727	SF		5,615,556	5,615,556	5,615,556
20.02	Property		1	Belnick	30114	Industrial	Warehouse/Distribution	1999	2011	477,152	SF		4,495,556	4,495,556	4,495,556
20.03	Property		1	Tufco - 3161 South Ridge Road	54304	Industrial	Manufacturing	1978	NAP	226,900	SF		2,317,778	2,317,778	2,317,778
20.04	Property		1	Pro Con - 109 Maplewood Drive	18202	Industrial	Manufacturing	1987, 1997, 2001	NAP	205,320	SF		2,009,778	2,009,778	2,009,778
20.05	Property		1	Total Logistics	55128	Industrial	Warehouse	1994	2008	86,460	SF		1,661,593	1,661,593	1,661,593
20.06	Property		1	Pro Con - 2441 East Glendale Avenue	54911	Industrial	Manufacturing	1978	2002	172,261	SF		1,452,370	1,452,370	1,452,370
20.07	Property		1	Amaray	42701	Industrial	Manufacturing	1975	NAP	194,519	SF		1,415,296	1,415,296	1,415,296
20.08	Property		1	Pro Con - 2430 East Glendale Avenue	54911	Industrial	Manufacturing	1968, 1974, 1995, 1997	NAP	122,500	SF		1,033,926	1,033,926	1,033,926
20.09	Property	70	1	Tufco - 1205 Burris Road	28658	Industrial	Warehouse	1971	NAP	121,096	SF		551,704	551,704	551,704
20.10	Property		1	Tufco - 1055 Parkview Road	54304	Industrial	Manufacturing	1983	NAP	44,020	SF		446,444	446,444	446,444
21	Loan	9, 71, 72	1	JW Marriott Nashville	37203	Hospitality	Full Service	2018	NAP	533	Rooms	347,091.93	20,000,000	20,000,000	20,000,000	3.13900%	0.01082%

22	Loan	73	1	The Promontory	92127	Office	Suburban	1989	NAP	98,249	SF	203.31	19,975,000	19,975,000	19,975,000	3.65200%	0.04082%
23	Loan		1	18 Spencer Street	11205	Office	CBD	2020	NAP	52,185	SF	373.67	19,500,000	19,500,000	19,500,000	3.99000%	0.01082%
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	33433	Mixed Use	Office/Retail	Various	Various	514,527	SF	192.41	19,300,000	19,300,000	19,300,000	4.02000%	0.01082%
24.01	Property	77	1	Boardwalk @ 18th	33433	Mixed Use	Office/Retail	1986	2017	132,132	SF		5,848,485	5,848,485	5,848,485
24.02	Property		1	Fountains Center	33433	Mixed Use	Office/Retail	1983	NAP	188,666	SF		5,556,061	5,556,061	5,556,061
24.03	Property	78	1	City National Park	33433	Mixed Use	Office/Retail	1986, 1991, 1998	NAP	132,207	SF		5,556,061	5,556,061	5,556,061
24.04	Property	79, 80	1	Grove Centre	33433	Mixed Use	Office/Retail	1983	2017	61,522	SF		2,339,394	2,339,394	2,339,394
25	Loan	9, 81	3	Cabinetworks Portfolio	Various	Industrial	Manufacturing	Various	Various	1,528,894	SF	30.96	17,333,000	17,333,000	15,541,937	3.32200%	0.01082%
25.01	Property		1	15535 South State Avenue	44062	Industrial	Manufacturing	1989	2004	937,825	SF		10,632,990	10,632,990	9,534,256
25.02	Property		1	150 Grand Valley Avenue	44076	Industrial	Manufacturing	1995	2004	353,588	SF		4,007,505	4,007,505	3,593,399
25.03	Property		1	16052 Industrial Parkway	44062	Industrial	Manufacturing	1984	2005	237,481	SF		2,692,505	2,692,505	2,414,281
26	Loan	82, 83	1	Live Nation Downtown LA	90015	Retail	Single Tenant	1926, 1929	2001-2020	43,162	SF	370.70	16,000,000	16,000,000	16,000,000	3.25000%	0.01082%
27	Loan		6	Kokot Portfolio	Various	Multifamily	Mid Rise	Various	Various	133	Units	112,781.95	15,000,000	15,000,000	15,000,000	3.07000%	0.01082%
27.01	Property		1	638-640 East 14th Street	10009	Multifamily	Mid Rise	1920	2020	40	Units		4,336,272	4,336,272	4,336,272
27.02	Property		1	217 East 22nd Street	10010	Multifamily	Mid Rise	1920	1985	35	Units		4,024,312	4,024,312	4,024,312
27.03	Property		1	239 West 15th Street	10011	Multifamily	Mid Rise	1901	2015	21	Units		1,916,686	1,916,686	1,916,686
27.04	Property		1	106 East 7th Street	10009	Multifamily	Mid Rise	1900	2009	12	Units		1,604,967	1,604,967	1,604,967
27.05	Property		1	426 East 77th Street	10075	Multifamily	Mid Rise	1910	2020	15	Units		1,584,277	1,584,277	1,584,277
27.06	Property		1	67 Saint Mark’s Place	10003	Multifamily	Mid Rise	1900	2009	10	Units		1,533,486	1,533,486	1,533,486
28	Loan	84	1	16-18 Squadron Boulevard	10956	Office	Medical	1973	2005-2006	51,132	SF	275.76	14,100,000	14,100,000	12,499,584	3.99000%	0.01082%
29	Loan	85, 86, 87	1	Expressway Marketplace	94928	Retail	Anchored	1991-2002	2014	155,029	SF	90.31	14,000,000	14,000,000	11,942,181	3.44800%	0.01082%
30	Loan	88	1	7828 Georgia Avenue NW	20012	Retail	Anchored	1964	2019	48,199	SF	280.50	13,520,000	13,520,000	13,520,000	3.73000%	0.01082%
31	Loan	9, 89	1	141 Livingston	11201	Office	CBD	1959	2015	213,745	SF	467.85	12,500,000	12,500,000	12,500,000	3.21000%	0.01082%
32	Loan		1	2233 Nostrand Avenue	11210	Mixed Use	Office/Retail	1930	2006	23,369	SF	470.71	11,000,000	11,000,000	11,000,000	4.20000%	0.01082%
33	Loan	90	3	Birmingham Mixed Use Portfolio	Various	Various	Various	Various	Various	40,645	SF	253.11	10,300,000	10,287,517	8,306,226	4.42500%	0.01082%
33.01	Property		1	2014 Morris Avenue	35203	Office	Suburban	1900	2017	20,501	SF		4,365,563	4,360,272	3,520,520
33.02	Property		1	209 41st Street South	35222	Retail	Unanchored	1955	2018	12,415	SF		3,274,172	3,270,204	2,640,390
33.03	Property		1	1024 20th Street South	35205	Retail	Unanchored	1900	2018	7,729	SF		2,660,265	2,657,041	2,145,317
34	Loan	91	1	1111 Southern Minerals Road	78409	Mixed Use	Office/Industrial	2019	NAP	28,100	SF	358.72	10,080,000	10,080,000	10,080,000	3.64500%	0.05082%
35	Loan	9, 92	1	At Home - Willow Grove	19090	Retail	Single Tenant	1973	2019	94,554	SF	106.41	10,150,000	10,061,322	7,909,779	3.88000%	0.01082%
36	Loan		4	VanWest MI Portfolio	Various	Self Storage	Self Storage	Various	Various	175,828	SF	54.03	9,500,000	9,500,000	8,621,744	4.00000%	0.01082%
36.01	Property		1	Shelby	48316	Self Storage	Self Storage	1978	2016	52,075	SF		4,400,000	4,400,000	3,993,229
36.02	Property		1	Warren	48092	Self Storage	Self Storage	1996	2017	34,695	SF		2,000,000	2,000,000	1,815,104
36.03	Property		1	Rockford	49341	Self Storage	Self Storage	1987	2001	43,008	SF		1,600,000	1,600,000	1,452,083
36.04	Property		1	Belmont	49306	Self Storage	Self Storage	2007	NAP	46,050	SF		1,500,000	1,500,000	1,361,328
37	Loan		2	Teel Plastics Portfolio	53913	Industrial	Manufacturing	Various	Various	208,940	SF	44.05	9,203,000	9,203,000	8,314,295	3.74000%	0.01082%
37.01	Property		1	1060 Teel Court	53913	Industrial	Manufacturing	2007	2020	139,090	SF		7,045,000	7,045,000	6,364,687
37.02	Property		1	426 Hitchcock Street	53913	Industrial	Manufacturing	1951-1988	2019	69,850	SF		2,158,000	2,158,000	1,949,609
38	Loan		1	Signal Hill Gateway	90755	Retail	Anchored	2004	2010	56,460	SF	156.16	8,817,000	8,817,000	8,053,036	4.38200%	0.01082%
39	Loan	93	1	Rouzan Marketplace	70808, 70809	Retail	Anchored	2003, 2004, 2019, 2020	NAP	37,332	SF	229.03	8,550,000	8,550,000	6,837,963	4.19000%	0.05957%
40	Loan		1	Radiance Technologies	45431	Office	Suburban	2019	NAP	53,634	SF	149.16	8,000,000	8,000,000	7,260,416	4.00000%	0.01082%
41	Loan		1	475 Grand Street	11211	Multifamily	Mid Rise	2020	NAP	8	Units	837,500.00	6,700,000	6,700,000	6,700,000	4.09000%	0.01082%
42	Loan	94, 95	3	Mile High Multifamily Portfolio	Various	Multifamily	Garden	Various	Various	96	Units	62,500.00	6,000,000	6,000,000	6,000,000	3.41300%	0.01082%
42.01	Property		1	Sunrise Apartments	80011	Multifamily	Garden	1972	2020	48	Units		2,500,000	2,500,000	2,500,000
42.02	Property		1	Olive Tree Apartments	80205	Multifamily	Garden	1963	2018	24	Units		2,100,000	2,100,000	2,100,000
42.03	Property		1	Tangiers Apartments	80219	Multifamily	Garden	1962	2021	24	Units		1,400,000	1,400,000	1,400,000
43	Loan	96	1	Mid Cape Flex	33991	Industrial	Flex	2006	NAP	102,679	SF	56.49	5,800,000	5,800,000	4,163,735	3.93000%	0.01082%
44	Loan	97	1	500 W Superior	60654	Retail	Single Tenant	1976	2020	19,823	SF	287.54	5,700,000	5,700,000	5,191,383	4.21000%	0.07957%
45	Loan		1	PDX Front Ave Industrial	97210	Industrial	Warehouse/Distribution	1974	NAP	71,617	SF	73.38	5,255,000	5,255,000	5,255,000	4.22000%	0.01082%
46	Loan		1	2517 North Ontario	91504	Industrial	Warehouse	1976	2017	22,900	SF	196.51	4,500,000	4,500,000	4,500,000	3.91000%	0.01082%
47	Loan	98	1	4 Storage - Red Lion	19114	Self Storage	Self Storage	1968	2017	43,843	SF	68.43	3,000,000	3,000,000	3,000,000	4.57000%	0.01082%

A-1-2

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Net Mortgage Rate %	Monthly Debt Service (P&I) ($)	Monthly Debt Service (IO) ($)	Annual Debt Service (P&I) ($)	Annual Debt Service (IO) ($)	Amortization Type	ARD Loan (Yes / No)	Interest Accrual Method	Original Interest-Only Period (Mos.)	Remaining Interest-Only Period (Mos.)	Original Term To Maturity / ARD (Mos.)	Remaining Term To Maturity / ARD (Mos.)
						2		2
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	3.00473%	NAP	305,870.00	NAP	3,670,440.00	Interest Only - ARD	Yes	Actual/360	111	111	111	111

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	3.64918%	NAP	316,967.01	NAP	3,803,604.12	Interest Only	No	Actual/360	120	120	120	120
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	2.99401%	NAP	228,492.51	NAP	2,741,910.12	Interest Only - ARD	Yes	Actual/360	108	108	108	108
4	Loan	26	1	4800-4900 Fournace Place	3.32018%	249,034.37	NAP	2,988,412.44	NAP	Amortizing Balloon	No	Actual/360	0	0	120	120

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	3.21793%	NAP	136,452.55	NAP	1,637,430.60	Interest Only	No	Actual/360	120	120	120	120
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	3.32921%	NAP	136,924.02	NAP	1,643,088.24	Interest Only	No	Actual/360	120	118	120	118
7	Loan	40	1	2600 El Camino Real	3.72318%	NAP	146,228.89	NAP	1,754,746.68	Interest Only	No	Actual/360	120	120	120	120
8	Loan	41	1	175 Progress Place	3.80918%	214,864.44	148,467.13	2,578,373.28	1,781,605.56	Interest Only, Amortizing Balloon	No	Actual/360	12	12	120	120
9	Loan	42, 43	1	Boston Scientific	3.28118%	NAP	110,494.88	NAP	1,325,938.56	Interest Only	No	Actual/360	120	120	120	120
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	3.84518%	173,585.85	NAP	2,083,030.20	NAP	Amortizing Balloon	No	Actual/360	0	0	120	120
11	Loan	47	1	2501 Seaport	3.78918%	158,619.11	NAP	1,903,429.32	NAP	Amortizing Balloon	No	Actual/360	0	0	120	120
12	Loan	48, 49, 50, 51	1	100 Bradley	3.67918%	149,408.21	101,325.52	1,792,898.52	1,215,906.24	Interest Only, Amortizing Balloon	No	Actual/360	24	24	120	120
13	Loan	52	1	618 Bushwick	3.99318%	NAP	101,490.28	NAP	1,217,883.36	Interest Only	No	Actual/360	84	84	84	84
14	Loan		1	Amazon Campbellsville Fulfillment Center	3.75918%	NAP	93,417.19	NAP	1,121,006.28	Interest Only	No	Actual/360	120	120	120	120
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	3.36018%	NAP	74,052.75	NAP	888,633.00	Interest Only	No	Actual/360	120	119	120	119
16	Loan		1	Nautica Pointe	4.06418%	NAP	89,517.94	NAP	1,074,215.28	Interest Only	No	Actual/360	120	119	120	119
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	4.44918%	126,077.84	NAP	1,512,934.08	NAP	Amortizing Balloon	No	Actual/360	0	0	120	119
17.01	Property		1	Galleria Tower I
17.02	Property		1	Galleria Tower II
17.03	Property		1	Galleria Financial Center
18	Loan	65	1	GE Aviation New Hampshire	4.31218%	NAP	85,104.06	NAP	1,021,248.72	Interest Only	No	Actual/360	120	120	120	120
19	Loan	66, 67, 68	1	2000 Collins Avenue	3.93318%	NAP	73,644.16	NAP	883,729.92	Interest Only	No	Actual/360	120	120	120	120
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	3.70518%	NAP	65,933.19	NAP	791,198.28	Interest Only	No	Actual/360	120	119	120	119
20.01	Property		1	True Value
20.02	Property		1	Belnick
20.03	Property		1	Tufco - 3161 South Ridge Road
20.04	Property		1	Pro Con - 109 Maplewood Drive
20.05	Property		1	Total Logistics
20.06	Property		1	Pro Con - 2441 East Glendale Avenue
20.07	Property		1	Amaray
20.08	Property		1	Pro Con - 2430 East Glendale Avenue
20.09	Property	70	1	Tufco - 1205 Burris Road
20.10	Property		1	Tufco - 1055 Parkview Road
21	Loan	9, 71, 72	1	JW Marriott Nashville	3.12818%	NAP	53,043.29	NAP	636,519.48	Interest Only	No	Actual/360	120	107	120	107

22	Loan	73	1	The Promontory	3.61118%	NAP	61,634.90	NAP	739,618.80	Interest Only	No	Actual/360	120	120	120	120
23	Loan		1	18 Spencer Street	3.97918%	NAP	65,738.02	NAP	788,856.24	Interest Only	No	Actual/360	120	120	120	120
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	4.00918%	NAP	65,552.99	NAP	786,635.88	Interest Only	No	Actual/360	60	59	60	59
24.01	Property	77	1	Boardwalk @ 18th
24.02	Property		1	Fountains Center
24.03	Property	78	1	City National Park
24.04	Property	79, 80	1	Grove Centre
25	Loan	9, 81	3	Cabinetworks Portfolio	3.31118%	76,120.94	48,649.96	913,451.28	583,799.52	Interest Only, Amortizing Balloon	No	Actual/360	60	55	120	115
25.01	Property		1	15535 South State Avenue
25.02	Property		1	150 Grand Valley Avenue
25.03	Property		1	16052 Industrial Parkway
26	Loan	82, 83	1	Live Nation Downtown LA	3.23918%	NAP	43,935.19	NAP	527,222.28	Interest Only	No	Actual/360	120	107	120	107
27	Loan		6	Kokot Portfolio	3.05918%	NAP	38,907.99	NAP	466,895.88	Interest Only	No	Actual/360	120	120	120	120
27.01	Property		1	638-640 East 14th Street
27.02	Property		1	217 East 22nd Street
27.03	Property		1	239 West 15th Street
27.04	Property		1	106 East 7th Street
27.05	Property		1	426 East 77th Street
27.06	Property		1	67 Saint Mark’s Place
28	Loan	84	1	16-18 Squadron Boulevard	3.97918%	67,234.29	47,533.65	806,811.48	570,403.80	Interest Only, Amortizing Balloon	No	Actual/360	48	48	120	120
29	Loan	85, 86, 87	1	Expressway Marketplace	3.43718%	62,460.58	40,785.37	749,526.96	489,424.44	Interest Only, Amortizing Balloon	No	Actual/360	36	36	120	120
30	Loan	88	1	7828 Georgia Avenue NW	3.71918%	NAP	42,608.34	NAP	511,300.08	Interest Only	No	Actual/360	120	120	120	120
31	Loan	9, 89	1	141 Livingston	3.19918%	NAP	33,901.91	NAP	406,822.92	Interest Only	No	Actual/360	120	119	120	119
32	Loan		1	2233 Nostrand Avenue	4.18918%	NAP	39,034.72	NAP	468,416.64	Interest Only	No	Actual/360	120	120	120	120
33	Loan	90	3	Birmingham Mixed Use Portfolio	4.41418%	51,730.59	NAP	620,767.08	NAP	Amortizing Balloon	No	Actual/360	0	0	120	119
33.01	Property		1	2014 Morris Avenue
33.02	Property		1	209 41st Street South
33.03	Property		1	1024 20th Street South
34	Loan	91	1	1111 Southern Minerals Road	3.59418%	NAP	31,043.25	NAP	372,519.00	Interest Only	No	Actual/360	84	84	84	84
35	Loan	9, 92	1	At Home - Willow Grove	3.86918%	50,612.08	33,274.14	607,344.94	399,289.68	Interest Only, Amortizing Balloon	No	Actual/360	12	0	120	103
36	Loan		4	VanWest MI Portfolio	3.98918%	45,354.45	32,106.48	544,253.40	385,277.76	Interest Only, Amortizing Balloon	No	Actual/360	60	60	120	120
36.01	Property		1	Shelby
36.02	Property		1	Warren
36.03	Property		1	Rockford
36.04	Property		1	Belmont
37	Loan		2	Teel Plastics Portfolio	3.72918%	42,568.32	29,081.05	510,819.84	348,972.60	Interest Only, Amortizing Balloon	No	Actual/360	60	57	120	117
37.01	Property		1	1060 Teel Court
37.02	Property		1	426 Hitchcock Street
38	Loan		1	Signal Hill Gateway	4.37118%	44,058.39	32,643.92	528,700.68	391,727.04	Interest Only, Amortizing Balloon	No	Actual/360	60	60	120	120
39	Loan	93	1	Rouzan Marketplace	4.13043%	41,761.08	NAP	501,132.96	NAP	Amortizing Balloon	No	Actual/360	0	0	120	120
40	Loan		1	Radiance Technologies	3.98918%	38,193.22	27,037.04	458,318.64	324,444.48	Interest Only, Amortizing Balloon	No	Actual/360	60	60	120	120
41	Loan		1	475 Grand Street	4.07918%	NAP	23,153.00	NAP	277,836.00	Interest Only	No	Actual/360	120	120	120	120
42	Loan	94, 95	3	Mile High Multifamily Portfolio	3.40218%	NAP	17,302.01	NAP	207,624.12	Interest Only	No	Actual/360	120	120	120	120
42.01	Property		1	Sunrise Apartments
42.02	Property		1	Olive Tree Apartments
42.03	Property		1	Tangiers Apartments
43	Loan	96	1	Mid Cape Flex	3.91918%	30,390.81	NAP	364,689.72	NAP	Amortizing Balloon	No	Actual/360	0	0	120	120
44	Loan	97	1	500 W Superior	4.13043%	27,907.26	20,275.24	334,887.12	243,302.88	Interest Only, Amortizing Balloon	No	Actual/360	60	60	120	120
45	Loan		1	PDX Front Ave Industrial	4.20918%	NAP	18,736.75	NAP	224,841.00	Interest Only	No	Actual/360	120	120	120	120
46	Loan		1	2517 North Ontario	3.89918%	NAP	14,866.15	NAP	178,393.80	Interest Only	No	Actual/360	120	120	120	120
47	Loan	98	1	4 Storage - Red Lion	4.55918%	NAP	11,583.68	NAP	139,004.16	Interest Only	No	Actual/360	120	119	120	119

A-1-3

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Original Amortization Term (Mos.)	Remaining Amortization Term (Mos.)	Origination Date	Seasoning (Mos.)	Payment Due Date	First Payment Date	First P&I Payment Date	Maturity Date or Anticipated Repayment Date	Final Maturity Date	Grace Period - Late Fee (Days)	Grace Period - Default (Days)	Prepayment Provision	Most Recent EGI ($)
																3
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	0	0	4/1/2021	0	6	5/6/2021	NAP	7/6/2030	1/6/2033	5	0	L(24),D(81),O(6)	NAV

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	0	0	3/9/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(11),YM0.75(102),O(7)	8,646,063
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	0	0	4/1/2021	0	6	5/6/2021	NAP	4/6/2030	5/6/2033	0	0	L(24),DorYM1(77),O(7)	NAV
4	Loan	26	1	4800-4900 Fournace Place	360	360	3/19/2021	0	6	5/6/2021	5/6/2021	4/6/2031	NAP	0	0	L(24),D(92),O(4)	NAV

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	0	0	3/26/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	3	0	L(24),D(89),O(7)	57,236,811
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	0	0	1/15/2021	2	6	3/6/2021	NAP	2/6/2031	NAP	5	0	L(26),D(89),O(5)	26,444,348
7	Loan	40	1	2600 El Camino Real	0	0	3/19/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(92),O(4)	NAV
8	Loan	41	1	175 Progress Place	360	360	3/19/2021	0	6	5/6/2021	5/6/2022	4/6/2031	NAP	0	0	L(24),D(92),O(4)	5,080,880
9	Loan	42, 43	1	Boston Scientific	0	0	3/18/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(23),YM1(1),DorYM1(91),O(5)	NAV
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	360	360	3/12/2021	0	6	5/6/2021	5/6/2021	4/6/2031	NAP	0	0	L(24),D(92),O(4)	5,768,054
11	Loan	47	1	2501 Seaport	360	360	3/15/2021	0	6	5/6/2021	5/6/2021	4/6/2031	NAP	0	0	L(24),DorYM1(93),O(3)	6,125,613
12	Loan	48, 49, 50, 51	1	100 Bradley	360	360	3/19/2021	0	6	5/6/2021	5/6/2023	4/6/2031	NAP	0	0	L(24),D(92),O(4)	4,097,029
13	Loan	52	1	618 Bushwick	0	0	3/22/2021	0	1	5/1/2021	NAP	4/1/2028	NAP	0	0	L(24),D(57),O(3)	2,809,094
14	Loan		1	Amazon Campbellsville Fulfillment Center	0	0	3/9/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(92),O(4)	2,867,620
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	0	0	2/19/2021	1	7	4/7/2021	NAP	3/7/2031	NAP	0	0	L(25),D(92),O(3)	NAV
16	Loan		1	Nautica Pointe	0	0	3/5/2021	1	6	4/6/2021	NAP	3/6/2031	NAP	0	0	L(25),D(91),O(4)	NAV
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	360	359	2/17/2021	1	6	4/6/2021	4/6/2021	3/6/2031	NAP	0	0	L(25),D(90),O(5)	25,710,718
17.01	Property		1	Galleria Tower I													14,475,006
17.02	Property		1	Galleria Tower II													7,275,570
17.03	Property		1	Galleria Financial Center													3,960,142
18	Loan	65	1	GE Aviation New Hampshire	0	0	3/19/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(92),O(4)	NAV
19	Loan	66, 67, 68	1	2000 Collins Avenue	0	0	3/30/2021	0	1	5/1/2021	NAP	4/1/2031	NAP	0	5	L(24),D(91),O(5)	2,619,532
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	0	0	2/8/2021	1	6	4/6/2021	NAP	3/6/2031	NAP	0	0	L(25),D(91),O(4)	NAV
20.01	Property		1	True Value													NAV
20.02	Property		1	Belnick													NAV
20.03	Property		1	Tufco - 3161 South Ridge Road													NAV
20.04	Property		1	Pro Con - 109 Maplewood Drive													NAV
20.05	Property		1	Total Logistics													NAV
20.06	Property		1	Pro Con - 2441 East Glendale Avenue													NAV
20.07	Property		1	Amaray													NAV
20.08	Property		1	Pro Con - 2430 East Glendale Avenue													NAV
20.09	Property	70	1	Tufco - 1205 Burris Road													NAV
20.10	Property		1	Tufco - 1055 Parkview Road													NAV
21	Loan	9, 71, 72	1	JW Marriott Nashville	0	0	3/6/2020	13	6	4/6/2020	NAP	3/6/2030	NAP	0	0	L(36),D(77),O(7)	20,034,306

22	Loan	73	1	The Promontory	0	0	3/31/2021	0	1	5/1/2021	NAP	4/1/2031	NAP	5	5	L(24),D(1),DorYM1(90),YM1(1),O(4)	3,349,414
23	Loan		1	18 Spencer Street	0	0	3/22/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(91),O(5)	NAV
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	0	0	2/17/2021	1	6	4/6/2021	NAP	3/6/2026	NAP	0	0	L(25),D(32),O(3)	13,895,191
24.01	Property	77	1	Boardwalk @ 18th													3,992,387
24.02	Property		1	Fountains Center													4,444,768
24.03	Property	78	1	City National Park													3,692,576
24.04	Property	79, 80	1	Grove Centre													1,765,460
25	Loan	9, 81	3	Cabinetworks Portfolio	360	360	10/26/2020	5	6	12/6/2020	12/6/2025	11/6/2030	NAP	0	0	L(29),DorYM1(84),O(7)	NAV
25.01	Property		1	15535 South State Avenue													NAV
25.02	Property		1	150 Grand Valley Avenue													NAV
25.03	Property		1	16052 Industrial Parkway													NAV
26	Loan	82, 83	1	Live Nation Downtown LA	0	0	3/6/2020	13	6	4/6/2020	NAP	3/6/2030	NAP	0	5	L(37),D(79),O(4)	1,051,731
27	Loan		6	Kokot Portfolio	0	0	3/22/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(93),O(3)	3,452,866
27.01	Property		1	638-640 East 14th Street													961,101
27.02	Property		1	217 East 22nd Street													930,957
27.03	Property		1	239 West 15th Street													475,721
27.04	Property		1	106 East 7th Street													370,280
27.05	Property		1	426 East 77th Street													359,342
27.06	Property		1	67 Saint Mark’s Place													355,466
28	Loan	84	1	16-18 Squadron Boulevard	360	360	3/24/2021	0	6	5/6/2021	5/6/2025	4/6/2031	NAP	0	0	L(24),D(93),O(3)	1,594,829
29	Loan	85, 86, 87	1	Expressway Marketplace	360	360	3/10/2021	0	6	5/6/2021	5/6/2024	4/6/2031	NAP	5	0	L(24),D(92),O(4)	2,016,741
30	Loan	88	1	7828 Georgia Avenue NW	0	0	3/19/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(93),O(3)	1,336,898
31	Loan	9, 89	1	141 Livingston	0	0	2/18/2021	1	6	4/6/2021	NAP	3/6/2031	NAP	0	0	L(25),D(91),O(4)	12,497,970
32	Loan		1	2233 Nostrand Avenue	0	0	4/1/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(91),O(5)	997,076
33	Loan	90	3	Birmingham Mixed Use Portfolio	360	359	3/2/2021	1	6	4/6/2021	4/6/2021	3/6/2031	NAP	0	0	L(25),D(91),O(4)	NAV
33.01	Property		1	2014 Morris Avenue													NAV
33.02	Property		1	209 41st Street South													NAV
33.03	Property		1	1024 20th Street South													NAV
34	Loan	91	1	1111 Southern Minerals Road	0	0	3/26/2021	0	1	5/1/2021	NAP	4/1/2028	NAP	0	0	L(24),D(57),O(3)	1,086,691
35	Loan	9, 92	1	At Home - Willow Grove	324	319	11/1/2019	17	6	12/6/2019	12/6/2020	11/6/2029	NAP	0	0	L(41),D(75),O(4)	NAV
36	Loan		4	VanWest MI Portfolio	360	360	3/16/2021	0	6	5/6/2021	5/6/2026	4/6/2031	NAP	0	0	L(24),D(93),O(3)	1,622,019
36.01	Property		1	Shelby													639,499
36.02	Property		1	Warren													351,538
36.03	Property		1	Rockford													309,938
36.04	Property		1	Belmont													321,044
37	Loan		2	Teel Plastics Portfolio	360	360	12/18/2020	3	6	2/6/2021	2/6/2026	1/6/2031	NAP	0	0	L(27),D(88),O(5)	NAV
37.01	Property		1	1060 Teel Court													NAV
37.02	Property		1	426 Hitchcock Street													NAV
38	Loan		1	Signal Hill Gateway	360	360	3/18/2021	0	6	5/6/2021	5/6/2026	4/6/2031	NAP	0	0	L(24),D(91),O(5)	1,112,589
39	Loan	93	1	Rouzan Marketplace	360	360	3/25/2021	0	6	5/6/2021	5/6/2021	4/6/2031	NAP	0	0	L(24),D(92),O(4)	621,141
40	Loan		1	Radiance Technologies	360	360	3/22/2021	0	6	5/6/2021	5/6/2026	4/6/2031	NAP	0	0	L(24),D(93),O(3)	1,338,696
41	Loan		1	475 Grand Street	0	0	3/17/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(93),O(3)	NAV
42	Loan	94, 95	3	Mile High Multifamily Portfolio	0	0	4/1/2021	0	1	5/1/2021	NAP	4/1/2031	NAP	0	0	L(24),D(93),O(3)	NAV
42.01	Property		1	Sunrise Apartments													NAV
42.02	Property		1	Olive Tree Apartments													NAV
42.03	Property		1	Tangiers Apartments													NAV
43	Loan	96	1	Mid Cape Flex	300	300	3/30/2021	0	6	5/6/2021	5/6/2021	4/6/2031	NAP	0	0	L(24),D(89),O(7)	923,747
44	Loan	97	1	500 W Superior	360	360	3/15/2021	0	6	5/6/2021	5/6/2026	4/6/2031	NAP	0	0	L(24),D(92),O(4)	583,453
45	Loan		1	PDX Front Ave Industrial	0	0	3/23/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(92),O(4)	598,207
46	Loan		1	2517 North Ontario	0	0	3/25/2021	0	6	5/6/2021	NAP	4/6/2031	NAP	0	0	L(24),D(93),O(3)	NAV
47	Loan	98	1	4 Storage - Red Lion	0	0	2/26/2021	1	6	4/6/2021	NAP	3/6/2031	NAP	0	0	L(25),D(90),O(5)	497,135

A-1-4

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Most Recent Expenses ($)

Most Recent NOI ($)

Most Recent NOI Date

Most Recent Description

Second Most Recent EGI ($)

Second Most Recent Expenses ($)

Second Most Recent NOI ($)

Second Most Recent NOI Date

Second Most Recent Description

Third Most Recent EGI ($)

Third Most Recent Expenses ($)

Third Most Recent NOI ($)

Third Most Recent NOI Date

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

NAV

Loan

9, 18, 19, 20

SOMA Teleco Office

2,720,297

5,925,766

12/31/2020

T-12

8,857,819

2,546,920

6,310,899

12/31/2019

T-12

6,316,794

2,349,226

3,967,568

12/31/2018

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

NAV

Loan

4800-4900 Fournace Place

NAV

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

28,158,099

29,078,712

12/31/2020

T-12

56,511,000

29,465,150

27,045,850

12/31/2019

T-12

55,944,000

28,896,174

27,047,826

12/31/2018

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

9,026,741

17,417,607

11/30/2020

T-12

25,024,486

9,421,017

15,603,469

12/31/2019

T-12

25,191,774

9,017,791

16,173,983

12/31/2018

Loan

2600 El Camino Real

NAV

Loan

175 Progress Place

1,856,657

3,224,223

1/31/2021

T-12

4,950,253

1,876,378

3,073,875

12/31/2020

T-12

4,565,344

1,946,494

2,618,849

12/31/2019

Loan

42, 43

Boston Scientific

NAV

Loan

9, 11, 44, 45, 46

1985 Marcus

4,818,470

949,584

12/31/2020

T-12

8,392,209

5,207,605

3,184,604

12/31/2019

T-12

9,844,168

5,529,551

4,314,617

12/31/2018

Loan

2501 Seaport

2,838,929

3,286,684

12/31/2020

T-12

6,394,247

3,374,945

3,019,302

12/31/2019

T-12

5,461,342

3,087,542

2,373,800

12/31/2018

Loan

48, 49, 50, 51

100 Bradley

1,976,370

2,120,660

11/30/2020

T-12

3,095,145

1,981,361

1,113,784

12/31/2019

T-12

2,031,301

1,626,024

405,278

12/31/2018

Loan

618 Bushwick

612,250

2,196,843

2/28/2021

T-12

2,791,037

600,206

2,190,831

12/31/2020

T-12

2,349,761

627,145

1,722,616

12/31/2019

Loan

Amazon Campbellsville Fulfillment Center

303,303

2,564,317

12/31/2020

T-12

2,814,979

295,054

2,519,925

12/31/2019

T-12

2,742,336

328,341

2,413,995

12/31/2018

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

NAV

Loan

Nautica Pointe

NAV

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

13,251,714

12,459,004

12/31/2020

T-12

26,285,767

13,909,984

12,375,783

12/31/2019

T-12

28,701,343

13,539,624

15,161,719

12/31/2018

17.01

Property

Galleria Tower I

6,136,741

8,338,265

12/31/2020

T-12

13,355,546

6,322,096

7,033,450

12/31/2019

T-12

13,159,814

6,172,968

6,986,846

12/31/2018

17.02

Property

Galleria Tower II

3,976,206

3,299,364

12/31/2020

T-12

7,540,539

4,118,572

3,421,967

12/31/2019

T-12

8,239,631

4,058,660

4,180,971

12/31/2018

17.03

Property

Galleria Financial Center

3,138,768

821,374

12/31/2020

T-12

5,389,682

3,469,316

1,920,366

12/31/2019

T-12

7,301,898

3,307,996

3,993,902

12/31/2018

Loan

GE Aviation New Hampshire

NAV

Loan

66, 67, 68

2000 Collins Avenue

570,610

2,048,923

12/31/2020

T-12

NAV

Loan

9, 69

U.S. Industrial Portfolio VI

NAV

20.01

Property

True Value

NAV

20.02

Property

Belnick

NAV

20.03

Property

Tufco - 3161 South Ridge Road

NAV

20.04

Property

Pro Con - 109 Maplewood Drive

NAV

20.05

Property

Total Logistics

NAV

20.06

Property

Pro Con - 2441 East Glendale Avenue

NAV

20.07

Property

Amaray

NAV

20.08

Property

Pro Con - 2430 East Glendale Avenue

NAV

20.09

Property

Tufco - 1205 Burris Road

NAV

20.10

Property

Tufco - 1055 Parkview Road

NAV

Loan

9, 71, 72

JW Marriott Nashville

24,745,775

(4,711,469)

3/31/2021

T-12

93,677,197

65,123,527

28,553,670

12/31/2019

T-12

NAV

Loan

The Promontory

993,513

2,355,901

12/31/2020

T-12

3,185,049

983,773

2,201,276

12/31/2019

T-12

3,045,328

973,584

2,071,744

12/31/2018

Loan

18 Spencer Street

NAV

Loan

9, 74, 75, 76

Boca Office Portfolio

5,846,969

8,048,222

12/31/2020

T-12

14,625,310

5,697,675

8,927,635

12/31/2019

T-12

13,568,307

5,056,153

8,512,154

12/31/2018

24.01

Property

Boardwalk @ 18th

1,521,784

2,470,603

12/31/2020

T-12

4,494,033

1,328,656

3,165,377

12/31/2019

T-12

3,984,565

1,248,816

2,735,749

12/31/2018

24.02

Property

Fountains Center

2,140,294

2,304,474

12/31/2020

T-12

4,608,760

2,215,470

2,393,290

12/31/2019

T-12

4,595,137

1,911,729

2,683,408

12/31/2018

24.03

Property

City National Park

1,598,181

2,094,395

12/31/2020

T-12

3,987,812

1,490,022

2,497,790

12/31/2019

T-12

3,526,454

1,319,363

2,207,091

12/31/2018

24.04

Property

79, 80

Grove Centre

586,711

1,178,749

12/31/2020

T-12

1,534,705

663,527

871,178

12/31/2019

T-12

1,462,151

576,246

885,905

12/31/2018

Loan

9, 81

Cabinetworks Portfolio

NAV

25.01

Property

15535 South State Avenue

NAV

25.02

Property

150 Grand Valley Avenue

NAV

25.03

Property

16052 Industrial Parkway

NAV

Loan

82, 83

Live Nation Downtown LA

139,981

911,750

12/31/2020

T-12

1,532,569

102,943

1,429,626

12/31/2019

T-12

1,477,869

84,671

1,393,199

12/31/2018

Loan

Kokot Portfolio

1,532,570

1,920,296

12/31/2020

T-12

3,769,926

1,437,330

2,332,596

12/31/2019

T-12

3,419,059

1,388,114

2,030,944

12/31/2018

27.01

Property

638-640 East 14th Street

440,078

521,023

12/31/2020

T-12

1,036,561

411,549

625,013

12/31/2019

T-12

954,527

390,194

564,332

12/31/2018

27.02

Property

217 East 22nd Street

486,192

444,764

12/31/2020

T-12

1,040,014

433,692

606,322

12/31/2019

T-12

934,023

421,683

512,339

12/31/2018

27.03

Property

239 West 15th Street

225,245

250,476

12/31/2020

T-12

483,810

198,511

285,299

12/31/2019

T-12

488,597

205,169

283,428

12/31/2018

27.04

Property

106 East 7th Street

174,963

195,317

12/31/2020

T-12

449,607

184,746

264,861

12/31/2019

T-12

360,950

164,363

196,588

12/31/2018

27.05

Property

426 East 77th Street

105,774

253,568

12/31/2020

T-12

391,805

117,109

274,696

12/31/2019

T-12

331,554

113,566

217,987

12/31/2018

27.06

Property

67 Saint Mark’s Place

100,316

255,150

12/31/2020

T-12

368,128

91,723

276,406

12/31/2019

T-12

349,408

93,138

256,270

12/31/2018

Loan

16-18 Squadron Boulevard

517,578

1,077,252

2/28/2021

T-12

1,590,829

516,168

1,074,661

12/31/2020

T-12

1,980,507

535,213

1,445,294

12/31/2019

Loan

85, 86, 87

Expressway Marketplace

680,897

1,335,844

12/31/2020

T-12

2,152,034

679,167

1,472,867

12/31/2019

T-12

2,170,324

622,325

1,547,999

12/31/2018

Loan

7828 Georgia Avenue NW

387,901

948,996

12/31/2020

T-12

966,870

281,070

685,801

12/31/2019

T-12

NAV

Loan

9, 89

141 Livingston

4,283,397

8,214,573

9/30/2020

T-12

11,956,405

3,852,419

8,103,986

12/31/2019

T-12

11,375,314

3,307,738

8,067,576

12/31/2018

Loan

2233 Nostrand Avenue

109,799

887,277

11/30/2020

T-12

987,778

67,831

919,947

12/31/2019

T-12

992,732

111,032

881,700

12/31/2018

Loan

Birmingham Mixed Use Portfolio

NAV

33.01

Property

2014 Morris Avenue

NAV

33.02

Property

209 41st Street South

NAV

33.03

Property

1024 20th Street South

NAV

Loan

1111 Southern Minerals Road

155,607

931,084

11/30/2020

T-12

NAV

Loan

9, 92

At Home - Willow Grove

NAV

Loan

VanWest MI Portfolio

651,549

970,470

1/31/2021

T-12

1,610,683

653,667

957,016

12/31/2020

T-12

1,516,595

632,518

884,077

12/31/2019

36.01

Property

Shelby

205,568

433,931

1/31/2021

T-12

626,578

205,062

421,516

12/31/2020

T-12

591,678

195,929

395,749

12/31/2019

36.02

Property

Warren

149,811

201,727

1/31/2021

T-12

350,099

149,151

200,948

12/31/2020

T-12

301,994

145,765

156,229

12/31/2019

36.03

Property

Rockford

144,032

165,906

1/31/2021

T-12

314,198

145,485

168,713

12/31/2020

T-12

325,074

146,471

178,603

12/31/2019

36.04

Property

Belmont

152,139

168,906

1/31/2021

T-12

319,808

153,969

165,839

12/31/2020

T-12

297,849

144,353

153,496

12/31/2019

Loan

Teel Plastics Portfolio

NAV

37.01

Property

1060 Teel Court

NAV

37.02

Property

426 Hitchcock Street

NAV

Loan

Signal Hill Gateway

308,255

804,334

12/31/2020

T-12

1,169,125

323,774

845,351

12/31/2019

T-12

1,177,894

364,940

812,954

12/31/2018

Loan

Rouzan Marketplace

142,416

478,725

12/31/2020

T-12

NAV

Loan

Radiance Technologies

277,547

1,061,149

12/31/2020

T-12

NAV

Loan

475 Grand Street

NAV

Loan

94, 95

Mile High Multifamily Portfolio

NAV

42.01

Property

Sunrise Apartments

NAV

42.02

Property

Olive Tree Apartments

NAV

42.03

Property

Tangiers Apartments

NAV

Loan

Mid Cape Flex

266,164

657,583

2/28/2021

T-12

789,777

260,914

528,863

12/31/2020

T-12

786,056

236,154

549,902

12/31/2019

Loan

500 W Superior

169,830

413,623

12/31/2020

T-12

NAV

Loan

PDX Front Ave Industrial

152,694

445,513

12/31/2020

T-12

568,047

124,589

443,458

12/31/2019

T-12

522,696

196,542

326,153

12/31/2018

Loan

2517 North Ontario

NAV

Loan

4 Storage - Red Lion

280,722

216,413

1/31/2021

T-12

494,437

281,719

212,718

12/31/2020

T-12

337,207

247,784

89,423

12/31/2019

A-1-5

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Third Most Recent Description	Underwritten Economic Occupancy (%)	Underwritten EGI ($)	Underwritten Expenses ($)	Underwritten Net Operating Income ($)	Underwritten Replacement / FF&E Reserve ($)	Underwritten TI / LC ($)	Underwritten Net Cash Flow ($)	Underwritten NOI DSCR (x)	Underwritten NCF DSCR (x)	Underwritten NOI Debt Yield (%)	Underwritten NCF Debt Yield (%)
													4	4
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	NAV	97.6%	66,137,945	10,736,605	55,401,340	161,024	373,279	54,867,037	4.77	4.72	14.6%	14.4%

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	T-12	94.8%	12,348,078	3,695,229	8,652,849	27,679	0	8,625,170	2.27	2.27	8.4%	8.4%
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	NAV	92.9%	36,483,599	5,700,582	30,783,017	154,882	77,346	30,550,788	4.30	4.27	13.1%	13.0%
4	Loan	26	1	4800-4900 Fournace Place	NAV	93.7%	12,671,574	5,445,823	7,225,751	112,948	404,403	6,708,401	2.42	2.24	12.8%	11.9%

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	T-12	97.1%	64,143,441	30,952,023	33,191,419	270,151	1,688,445	31,232,823	4.30	4.05	14.1%	13.3%
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	T-12	92.5%	28,497,504	9,339,815	19,157,689	107,732	384,053	18,665,904	2.85	2.78	9.7%	9.4%
7	Loan	40	1	2600 El Camino Real	NAV	91.6%	7,452,819	2,760,551	4,692,269	16,198	91,317	4,584,754	2.67	2.61	10.1%	9.9%
8	Loan	41	1	175 Progress Place	T-12	80.5%	6,616,325	1,925,080	4,691,245	130,477	234,799	4,325,969	1.82	1.68	10.2%	9.4%
9	Loan	42, 43	1	Boston Scientific	NAV	97.0%	3,927,968	117,839	3,810,129	33,589	0	3,776,540	2.87	2.85	9.6%	9.5%
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	T-12	95.5%	10,056,678	4,756,558	5,300,121	74,930	0	5,225,190	1.70	1.67	9.5%	9.4%
11	Loan	47	1	2501 Seaport	T-12	81.5%	7,210,840	3,427,854	3,782,986	157,612	578,215	3,047,159	1.99	1.60	11.1%	9.0%
12	Loan	48, 49, 50, 51	1	100 Bradley	T-12	60.8%	4,355,636	1,251,342	3,104,295	14,965	0	3,089,330	1.73	1.72	9.6%	9.5%
13	Loan	52	1	618 Bushwick	T-12	93.6%	2,844,830	608,803	2,236,027	24,750	0	2,211,277	1.84	1.82	7.5%	7.4%
14	Loan		1	Amazon Campbellsville Fulfillment Center	T-12	97.8%	3,161,168	658,226	2,502,942	72,700	48,524	2,381,718	2.23	2.12	8.6%	8.1%
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	NAV	95.0%	6,405,945	1,700,425	4,705,520	8,991	44,954	4,651,575	1.94	1.92	6.6%	6.6%
16	Loan		1	Nautica Pointe	NAV	95.0%	3,170,266	1,148,813	2,021,453	33,086	0	1,988,367	1.88	1.85	7.8%	7.6%
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	T-12	68.7%	25,273,331	13,960,632	11,312,699	263,875	1,715,535	9,333,289	2.08	1.71	12.6%	10.4%
17.01	Property		1	Galleria Tower I	T-12	78.4%	14,068,746	6,512,290	7,556,456	60,362	939,763	6,556,331
17.02	Property		1	Galleria Tower II	T-12	65.3%	6,843,731	4,135,679	2,708,052	172,428	536,389	1,999,236
17.03	Property		1	Galleria Financial Center	T-12	51.9%	4,360,855	3,312,664	1,048,191	31,085	239,383	777,722
18	Loan	65	1	GE Aviation New Hampshire	NAV	96.9%	1,853,685	55,611	1,798,074	23,620	66,738	1,707,717	1.76	1.67	7.7%	7.3%
19	Loan	66, 67, 68	1	2000 Collins Avenue	NAV	88.7%	2,885,340	563,507	2,321,833	5,322	82,821	2,233,690	2.63	2.53	10.5%	10.1%
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	NAV	91.9%	8,943,989	268,320	8,675,669	317,127	540,768	7,817,775	2.84	2.56	10.7%	9.7%
20.01	Property		1	True Value	NAV	92.9%	2,406,946	72,208	2,334,737	149,084	247,435	1,938,218
20.02	Property		1	Belnick	NAV	95.6%	1,779,184	53,376	1,725,809	50,196	91,231	1,584,381
20.03	Property		1	Tufco - 3161 South Ridge Road	NAV	95.0%	1,130,867	33,926	1,096,941	33,581	43,111	1,020,249
20.04	Property		1	Pro Con - 109 Maplewood Drive	NAV	97.0%	824,584	24,738	799,847	20,986	39,832	739,029
20.05	Property		1	Total Logistics	NAV	96.3%	754,061	22,622	731,439	8,802	16,652	705,985
20.06	Property		1	Pro Con - 2441 East Glendale Avenue	NAV	97.0%	691,816	20,754	671,062	17,654	33,419	619,990
20.07	Property		1	Amaray	NAV	95.0%	645,164	19,355	625,809	19,561	36,959	569,289
20.08	Property		1	Pro Con - 2430 East Glendale Avenue	NAV	97.0%	491,972	14,759	477,212	12,861	23,765	440,586
20.09	Property	70	1	Tufco - 1205 Burris Road	NAV	0.0%	0	0	0	0	0	0
20.10	Property		1	Tufco - 1055 Parkview Road	NAV	95.0%	219,395	6,582	212,813	4,402	8,364	200,047
21	Loan	9, 71, 72	1	JW Marriott Nashville	NAV	85.8%	94,449,843	66,104,698	28,345,145	3,777,994	0	24,567,151	4.81	4.17	15.3%	13.3%

22	Loan	73	1	The Promontory	T-12	95.0%	3,434,470	1,153,081	2,281,390	19,650	98,249	2,258,491	3.08	3.05	11.4%	11.3%
23	Loan		1	18 Spencer Street	NAV	93.6%	1,834,437	215,672	1,618,765	10,437	69,203	1,539,125	2.05	1.95	8.3%	7.9%
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	T-12	92.6%	16,623,446	6,161,981	10,461,465	127,369	411,477	9,922,619	2.59	2.46	10.6%	10.0%
24.01	Property	77	1	Boardwalk @ 18th	T-12	95.0%	4,793,055	1,573,741	3,219,314	47,800	117,867	3,053,647
24.02	Property		1	Fountains Center	T-12	86.9%	5,288,444	2,332,314	2,956,130	44,897	122,807	2,788,425
24.03	Property	78	1	City National Park	T-12	97.6%	4,752,927	1,662,836	3,090,091	30,536	118,947	2,940,608
24.04	Property	79, 80	1	Grove Centre	T-12	91.6%	1,789,020	593,091	1,195,930	4,136	51,856	1,139,938
25	Loan	9, 81	3	Cabinetworks Portfolio	NAV	95.0%	5,732,615	171,978	5,560,637	229,334	145,245	5,186,058	2.23	2.08	11.7%	11.0%
25.01	Property		1	15535 South State Avenue	NAV	95.0%	3,516,392	105,492	3,410,900	140,674	89,093	3,181,133
25.02	Property		1	150 Grand Valley Avenue	NAV	95.0%	1,325,784	39,774	1,286,011	53,038	33,591	1,199,382
25.03	Property		1	16052 Industrial Parkway	NAV	95.0%	890,439	26,713	863,726	35,622	22,561	805,543
26	Loan	82, 83	1	Live Nation Downtown LA	T-12	95.0%	1,702,849	148,263	1,554,586	6,474	44,169	1,503,942	2.95	2.85	9.7%	9.4%
27	Loan		6	Kokot Portfolio	T-12	95.0%	3,158,882	1,629,211	1,529,671	33,480	683	1,495,508	3.28	3.20	10.2%	10.0%
27.01	Property		1	638-640 East 14th Street	T-12	92.8%	867,250	475,914	391,336	10,000	0	381,336
27.02	Property		1	217 East 22nd Street	T-12	96.3%	865,534	486,947	378,587	8,750	0	369,837
27.03	Property		1	239 West 15th Street	T-12	93.7%	413,027	228,936	184,091	5,310	683	178,098
27.04	Property		1	106 East 7th Street	T-12	96.3%	344,281	186,319	157,962	3,000	0	154,962
27.05	Property		1	426 East 77th Street	T-12	96.3%	339,843	140,053	199,789	3,750	0	196,039
27.06	Property		1	67 Saint Mark’s Place	T-12	96.3%	328,947	111,041	217,907	2,670	0	215,237
28	Loan	84	1	16-18 Squadron Boulevard	T-12	95.0%	1,887,506	533,548	1,353,957	10,226	87,258	1,256,473	1.68	1.56	9.6%	8.9%
29	Loan	85, 86, 87	1	Expressway Marketplace	T-12	93.3%	2,295,109	718,676	1,576,433	41,858	77,515	1,457,060	2.10	1.94	11.3%	10.4%
30	Loan	88	1	7828 Georgia Avenue NW	NAV	95.0%	1,612,025	400,642	1,211,383	8,676	53,360	1,149,346	2.37	2.25	9.0%	8.5%
31	Loan	9, 89	1	141 Livingston	T-12	95.0%	14,702,075	5,797,645	8,904,430	42,749	658,802	8,202,879	2.74	2.52	8.9%	8.2%
32	Loan		1	2233 Nostrand Avenue	T-12	95.2%	1,084,060	217,867	866,193	4,233	46,965	814,995	1.85	1.74	7.9%	7.4%
33	Loan	90	3	Birmingham Mixed Use Portfolio	NAV	95.0%	1,246,055	214,579	1,031,477	8,836	30,645	991,996	1.66	1.60	10.0%	9.6%
33.01	Property		1	2014 Morris Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
33.02	Property		1	209 41st Street South	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
33.03	Property		1	1024 20th Street South	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
34	Loan	91	1	1111 Southern Minerals Road	NAV	100.0%	1,093,356	158,591	934,766	4,215	0	930,551	2.51	2.50	9.3%	9.2%
35	Loan	9, 92	1	At Home - Willow Grove	NAV	95.0%	1,348,121	40,444	1,307,678	14,183	44,914	1,248,581	2.15	2.06	13.0%	12.4%
36	Loan		4	VanWest MI Portfolio	T-12	65.6%	1,622,019	720,587	901,432	28,174	0	873,258	1.66	1.60	9.5%	9.2%
36.01	Property		1	Shelby	T-12	61.7%	639,499	229,769	409,730	7,291	0	402,439
36.02	Property		1	Warren	T-12	71.4%	351,538	162,622	188,916	4,163	0	184,752
36.03	Property		1	Rockford	T-12	65.5%	309,938	152,800	157,138	9,462	0	147,676
36.04	Property		1	Belmont	T-12	68.1%	321,044	175,396	145,649	7,258	0	138,390
37	Loan		2	Teel Plastics Portfolio	NAV	95.0%	1,058,974	31,769	1,027,204	31,341	73,129	922,734	2.01	1.81	11.2%	10.0%
37.01	Property		1	1060 Teel Court	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
37.02	Property		1	426 Hitchcock Street	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
38	Loan		1	Signal Hill Gateway	T-12	95.0%	1,305,854	434,139	871,715	14,264	56,460	800,992	1.65	1.52	9.9%	9.1%
39	Loan	93	1	Rouzan Marketplace	NAV	95.0%	942,318	174,821	767,497	5,600	35,952	725,945	1.53	1.45	9.0%	8.5%
40	Loan		1	Radiance Technologies	NAV	95.0%	1,453,856	537,121	916,736	10,727	53,634	852,375	2.00	1.86	11.5%	10.7%
41	Loan		1	475 Grand Street	NAV	93.0%	594,996	105,943	489,053	1,600	0	487,453	1.76	1.75	7.3%	7.3%
42	Loan	94, 95	3	Mile High Multifamily Portfolio	NAV	90.6%	1,249,423	516,226	733,197	28,800	0	704,397	3.53	3.39	12.2%	11.7%
42.01	Property		1	Sunrise Apartments	NAV	90.0%	607,539	281,843	325,697	14,400	0	311,297
42.02	Property		1	Olive Tree Apartments	NAV	88.3%	360,538	122,409	238,129	7,200	0	230,929
42.03	Property		1	Tangiers Apartments	NAV	95.0%	281,345	111,974	169,372	7,200	0	162,172
43	Loan	96	1	Mid Cape Flex	T-12	94.7%	1,140,969	295,372	845,597	16,429	102,526	726,642	2.32	1.99	14.6%	12.5%
44	Loan	97	1	500 W Superior	NAV	95.0%	767,641	190,404	577,237	2,973	9,416	564,847	1.72	1.69	10.1%	9.9%
45	Loan		1	PDX Front Ave Industrial	T-12	95.0%	649,056	162,511	486,546	8,621	23,557	454,368	2.16	2.02	9.3%	8.6%
46	Loan		1	2517 North Ontario	NAV	95.0%	516,023	126,663	389,360	8,015	17,063	364,282	2.18	2.04	8.7%	8.1%
47	Loan	98	1	4 Storage - Red Lion	T-12	73.0%	516,970	253,670	263,300	4,384	0	258,915	1.89	1.86	8.8%	8.6%

A-1-6

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Appraised Value ($)	Appraised Value Type	Appraisal Date	Cut-off Date LTV Ratio (%)	LTV Ratio at Maturity / ARD (%)	Leased Occupancy (%)	Occupancy Date	Single Tenant (Y/N)
										5
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	1,000,000,000	Hypothetical As If Stabilized	1/14/2021	38.0%	38.0%	100.0%	4/1/2021	Yes

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	155,000,000	As Is Excluding Impact of VZ Purchase Option	1/21/2021	66.1%	66.1%	93.6%	3/1/2021	No
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	670,000,000	Hypothetical As Is	3/4/2021	35.1%	35.1%	92.2%	3/31/2021	No
4	Loan	26	1	4800-4900 Fournace Place	104,000,000	As Is	2/22/2021	54.3%	42.1%	87.4%	1/1/2021	No

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	675,000,000	As Is	3/1/2021	34.9%	34.9%	97.9%	2/1/2021	No
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	289,000,000	Hypothetical As Is	12/15/2020	68.7%	68.7%	90.5%	12/1/2020	No
7	Loan	40	1	2600 El Camino Real	82,900,000	As Is	1/28/2021	55.9%	55.9%	87.5%	3/17/2021	No
8	Loan	41	1	175 Progress Place	75,000,000	As Is	3/1/2021	61.3%	49.9%	84.5%	3/1/2021	No
9	Loan	42, 43	1	Boston Scientific	63,700,000	As Is	3/5/2021	62.4%	62.4%	100.0%	4/6/2021	Yes
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	75,000,000	As Is	2/12/2021	74.0%	58.5%	92.4%	3/9/2021	No
11	Loan	47	1	2501 Seaport	61,800,000	As Is	11/4/2020	55.0%	43.4%	79.6%	2/2/2021	No
12	Loan	48, 49, 50, 51	1	100 Bradley	51,000,000	As Is	3/2/2021	63.7%	53.2%	83.7%	1/19/2021	NAP
13	Loan	52	1	618 Bushwick	51,400,000	As Is	12/9/2020	58.4%	58.4%	93.9%	3/9/2021	NAP
14	Loan		1	Amazon Campbellsville Fulfillment Center	48,700,000	As Is	2/9/2021	60.1%	60.1%	100.0%	4/6/2021	Yes
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	110,000,000	Hypothetical Value: “Escrow Tenant Improvements”	2/1/2021	64.5%	64.5%	100.0%	4/7/2021	Yes
16	Loan		1	Nautica Pointe	37,440,000	As Is	2/12/2021	69.4%	69.4%	99.3%	3/1/2021	NAP
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	185,000,000	As Is	1/6/2021	48.6%	39.3%	68.1%
17.01	Property		1	Galleria Tower I	85,544,600	As Is	1/6/2021			78.1%	1/20/2021	No
17.02	Property		1	Galleria Tower II	55,566,781	As Is	1/6/2021			68.1%	1/20/2021	No
17.03	Property		1	Galleria Financial Center	43,888,619	As Is	1/6/2021			48.7%	1/20/2021	No
18	Loan	65	1	GE Aviation New Hampshire	35,500,000	As Is	2/15/2021	65.6%	65.6%	100.0%	4/1/2021	Yes
19	Loan	66, 67, 68	1	2000 Collins Avenue	34,500,000	As Is	3/3/2021	64.1%	64.1%	77.7%	3/16/2021	No
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	136,500,000	As Is	Various	59.3%	59.3%	95.9%
20.01	Property		1	True Value	36,100,000	As Is	1/6/2021			100.0%	4/1/2021	Yes
20.02	Property		1	Belnick	28,900,000	As Is	1/5/2021			100.0%	4/1/2021	Yes
20.03	Property		1	Tufco - 3161 South Ridge Road	14,900,000	As Is	12/28/2020			100.0%	4/1/2021	Yes
20.04	Property		1	Pro Con - 109 Maplewood Drive	12,920,000	As Is	12/29/2020			100.0%	4/1/2021	Yes
20.05	Property		1	Total Logistics	10,800,000	As Is	12/21/2020			100.0%	4/1/2021	Yes
20.06	Property		1	Pro Con - 2441 East Glendale Avenue	9,440,000	As Is	12/28/2020			100.0%	4/1/2021	Yes
20.07	Property		1	Amaray	9,200,000	As Is	12/30/2020			100.0%	4/1/2021	Yes
20.08	Property		1	Pro Con - 2430 East Glendale Avenue	6,720,000	As Is	12/28/2020			100.0%	4/1/2021	Yes
20.09	Property	70	1	Tufco - 1205 Burris Road	4,650,000	As Is	12/23/2020			0.0%	4/1/2021	Yes
20.10	Property		1	Tufco - 1055 Parkview Road	2,870,000	As Is	12/28/2020			100.0%	4/1/2021	Yes
21	Loan	9, 71, 72	1	JW Marriott Nashville	301,000,000	As Is	11/10/2020	61.5%	61.5%	18.4%	3/31/2021	NAP

22	Loan	73	1	The Promontory	33,300,000	As Is	2/16/2021	60.0%	60.0%	96.7%	1/27/2021	No
23	Loan		1	18 Spencer Street	33,800,000	As Is	1/1/2021	57.7%	57.7%	97.5%	3/1/2021	No
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	155,900,000	As Portfolio	11/13/2020	63.5%	63.5%	90.4%
24.01	Property	77	1	Boardwalk @ 18th	49,500,000	As Is	10/22/2020			91.8%	1/23/2021	No
24.02	Property		1	Fountains Center	44,500,000	As Is	11/13/2020			84.5%	1/23/2021	No
24.03	Property	78	1	City National Park	39,200,000	As Is	11/13/2020			97.4%	1/23/2021	No
24.04	Property	79, 80	1	Grove Centre	17,500,000	As Is	10/22/2020			90.8%	1/23/2021	No
25	Loan	9, 81	3	Cabinetworks Portfolio	73,450,000	As Is	10/1/2020	64.4%	57.8%	100.0%
25.01	Property		1	15535 South State Avenue	45,400,000	As Is	10/1/2020			100.0%	4/1/2021	Yes
25.02	Property		1	150 Grand Valley Avenue	16,550,000	As Is	10/1/2020			100.0%	4/1/2021	Yes
25.03	Property		1	16052 Industrial Parkway	11,500,000	As Is	10/1/2020			100.0%	4/1/2021	Yes
26	Loan	82, 83	1	Live Nation Downtown LA	30,000,000	As Is	2/13/2020	53.3%	53.3%	100.0%	4/6/2021	Yes
27	Loan		6	Kokot Portfolio	33,400,000	As Is	Various	44.9%	44.9%	96.2%
27.01	Property		1	638-640 East 14th Street	8,400,000	As Is	2/23/2021			92.5%	2/19/2021	NAP
27.02	Property		1	217 East 22nd Street	8,500,000	As Is	2/16/2021			97.1%	2/19/2021	NAP
27.03	Property		1	239 West 15th Street	4,300,000	As Is	2/16/2021			95.2%	2/19/2021	NAP
27.04	Property		1	106 East 7th Street	3,300,000	As Is	2/23/2021			100.0%	2/19/2021	NAP
27.05	Property		1	426 East 77th Street	4,600,000	As Is	2/16/2021			100.0%	2/19/2021	NAP
27.06	Property		1	67 Saint Mark’s Place	4,300,000	As Is	2/23/2021			100.0%	2/19/2021	NAP
28	Loan	84	1	16-18 Squadron Boulevard	21,800,000	As Is	12/8/2020	64.7%	57.3%	99.3%	3/24/2021	No
29	Loan	85, 86, 87	1	Expressway Marketplace	22,800,000	As Is	2/9/2021	61.4%	52.4%	95.3%	12/31/2020	No
30	Loan	88	1	7828 Georgia Avenue NW	19,800,000	As Is	2/10/2021	68.3%	68.3%	95.4%	2/8/2021	No
31	Loan	9, 89	1	141 Livingston	182,300,000	As Is	2/1/2021	54.9%	54.9%	100.0%	2/1/2021	No
32	Loan		1	2233 Nostrand Avenue	17,500,000	As Is	11/19/2020	62.9%	62.9%	100.0%	3/1/2020	No
33	Loan	90	3	Birmingham Mixed Use Portfolio	15,160,000	As Is	2/3/2021	67.9%	54.8%	93.8%
33.01	Property		1	2014 Morris Avenue	6,460,000	As Is	2/3/2021			87.8%	3/1/2021	No
33.02	Property		1	209 41st Street South	4,800,000	As Is	2/3/2021			100.0%	3/1/2021	No
33.03	Property		1	1024 20th Street South	3,900,000	As Is	2/3/2021			100.0%	3/1/2021	No
34	Loan	91	1	1111 Southern Minerals Road	16,000,000	As Is	2/2/2021	63.0%	63.0%	100.0%	4/1/2021	Yes
35	Loan	9, 92	1	At Home - Willow Grove	20,100,000	As Is	3/5/2021	50.1%	39.4%	100.0%	4/1/2021	Yes
36	Loan		4	VanWest MI Portfolio	17,350,000	As Is	1/14/2021	54.8%	49.7%	80.6%
36.01	Property		1	Shelby	7,825,000	As Is	1/14/2021			82.9%	2/23/2021	NAP
36.02	Property		1	Warren	3,450,000	As Is	1/14/2021			84.1%	2/23/2021	NAP
36.03	Property		1	Rockford	2,850,000	As Is	1/14/2021			71.9%	2/23/2021	NAP
36.04	Property		1	Belmont	3,225,000	As Is	1/14/2021			83.7%	2/23/2021	NAP
37	Loan		2	Teel Plastics Portfolio	14,460,000	As Is	12/11/2020	63.6%	57.5%	100.0%
37.01	Property		1	1060 Teel Court	11,070,000	As Is	12/11/2020			100.0%	4/6/2021	Yes
37.02	Property		1	426 Hitchcock Street	3,390,000	As Is	12/11/2020			100.0%	4/6/2021	Yes
38	Loan		1	Signal Hill Gateway	16,000,000	As Is	11/16/2020	55.1%	50.3%	100.0%	3/10/2021	No
39	Loan	93	1	Rouzan Marketplace	12,730,000	As Is	2/6/2021	67.2%	53.7%	100.0%	1/31/2021	No
40	Loan		1	Radiance Technologies	13,100,000	As Is	3/3/2021	61.1%	55.4%	100.0%	4/6/2021	Yes
41	Loan		1	475 Grand Street	10,700,000	As Is	1/27/2020	62.6%	62.6%	100.0%	2/1/2021	NAP
42	Loan	94, 95	3	Mile High Multifamily Portfolio	13,790,000	As Is	1/7/2021	43.5%	43.5%	85.4%
42.01	Property		1	Sunrise Apartments	5,790,000	As Is	1/7/2021			79.2%	2/8/2021	NAP
42.02	Property		1	Olive Tree Apartments	4,800,000	As Is	1/7/2021			87.5%	2/8/2021	NAP
42.03	Property		1	Tangiers Apartments	3,200,000	As Is	1/7/2021			95.8%	2/8/2021	NAP
43	Loan	96	1	Mid Cape Flex	9,600,000	As Is	3/11/2021	60.4%	43.4%	94.8%	1/14/2021	No
44	Loan	97	1	500 W Superior	9,700,000	As Is	2/3/2021	58.8%	53.5%	100.0%	4/6/2021	Yes
45	Loan		1	PDX Front Ave Industrial	9,500,000	As Is	2/8/2021	55.3%	55.3%	100.0%	3/1/2021	No
46	Loan		1	2517 North Ontario	8,500,000	As Is	2/14/2021	52.9%	52.9%	100.0%	4/6/2021	Yes
47	Loan	98	1	4 Storage - Red Lion	5,900,000	As Is	2/4/2021	50.8%	50.8%	79.1%	1/19/2021	NAP

A-1-7

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Largest Tenant

Largest Tenant SF

Largest Tenant % of NRA

Largest Tenant Lease Expiration Date

Second Largest Tenant

Second Largest Tenant SF

Second Largest Tenant % of NRA

Second Largest Tenant Lease Expiration Date

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

Facebook

805,118

100.0%

1/31/2033

NAP

Loan

9, 18, 19, 20

SOMA Teleco Office

Verizon

51,214

46.3%

3/31/2040

Adyen

42,152

38.1%

1/31/2026

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

Amazon.com Services LLC

680,215

87.8%

5/31/2033

Knot Springs

31,209

4.0%

4/30/2037

Loan

4800-4900 Fournace Place

Harris Health

328,779

58.2%

12/31/2030

Houston Methodist

100,812

17.9%

6/30/2027

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

USPS

492,375

36.5%

10/10/2038

IPG DXTRA, Inc.

231,164

17.1%

2/29/2028

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

Gunster, Yoakley, Valdes-Fauli

50,800

11.3%

8/31/2024

Akerman, Senterfitt & Eidson

48,678

10.8%

9/30/2028

Loan

2600 El Camino Real

WilmerHale

46,910

70.6%

1/4/2031

Sand Hill Property Co.

11,229

16.9%

4/6/2034

Loan

175 Progress Place

Procter & Gamble

284,209

30.5%

6/30/2027

Product Fulfillment Solutions

167,103

17.9%

10/31/2024

Loan

42, 43

Boston Scientific

258,375

100.0%

11/30/2035

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

JPMorgan Chase

76,126

24.4%

10/31/2030

Integra MLTC, Inc.

38,474

12.3%

8/31/2031

Loan

2501 Seaport

Power Home Remodeling Group LLC

180,720

45.1%

12/31/2030

Keystone Sports & Entertainment LLC

36,418

9.1%

8/31/2033

Loan

48, 49, 50, 51

100 Bradley

NAP

Loan

618 Bushwick

NAP

Loan

Amazon Campbellsville Fulfillment Center

Amazon.com Services LLC

727,000

100.0%

1/31/2032

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

Related Companies L.P.

44,954

100.0%

2/28/2039

NAP

Loan

Nautica Pointe

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

17.01

Property

Galleria Tower I

WeWork Companies, Inc.

100,141

20.3%

11/30/2033

Citigroup Technology

49,740

10.1%

12/31/2028

17.02

Property

Galleria Tower II

Quanta Services

56,345

17.6%

3/31/2022

Hoover, Slovacek

49,076

15.3%

3/31/2032

17.03

Property

Galleria Financial Center

Situs Holdings, LLC

18,240

7.2%

7/31/2022

Southwest Risk, LP

12,169

4.8%

5/31/2026

Loan

GE Aviation New Hampshire

General Electric Company

157,464

100.0%

1/12/2031

NAP

Loan

66, 67, 68

2000 Collins Avenue

Holiday CVS, LLC

9,869

27.8%

1/31/2036

Raspoutine Miami, LLC (Bagatelle)

4,656

13.1%

9/30/2031

Loan

9, 69

U.S. Industrial Portfolio VI

20.01

Property

True Value

1,331,727

100.0%

2/28/2029

NAP

20.02

Property

Belnick

477,152

100.0%

6/1/2029

NAP

20.03

Property

Tufco - 3161 South Ridge Road

Tufco

226,900

100.0%

7/21/2037

NAP

20.04

Property

Pro Con - 109 Maplewood Drive

Pro Con

205,320

100.0%

12/30/2030

NAP

20.05

Property

Total Logistics

86,460

100.0%

8/31/2032

NAP

20.06

Property

Pro Con - 2441 East Glendale Avenue

Pro Con

172,261

100.0%

12/30/2030

NAP

20.07

Property

Amaray

194,519

100.0%

10/31/2033

NAP

20.08

Property

Pro Con - 2430 East Glendale Avenue

Pro Con

122,500

100.0%

12/30/2030

NAP

20.09

Property

Tufco - 1205 Burris Road

NAP

20.10

Property

Tufco - 1055 Parkview Road

Tufco

44,020

100.0%

7/21/2037

NAP

Loan

9, 71, 72

JW Marriott Nashville

NAP

Loan

The Promontory

Premier Office Centers, LLC

18,245

18.6%

7/31/2022

National Weather Service

6,685

6.8%

3/31/2029

Loan

18 Spencer Street

LLC, 12 Spencer Park dba Park Pro

17,829

34.2%

12/31/2033

Bridal Studio

5,122

9.8%

2/28/2031

Loan

9, 74, 75, 76

Boca Office Portfolio

24.01

Property

Boardwalk @ 18th

Women’s Health Partners, LLC

16,662

12.6%

12/31/2027

Carraba’s Tropical Coast

5,921

4.5%

4/30/2023

24.02

Property

Fountains Center

University of Miami

12,987

6.9%

4/30/2026

Madsen, Kneepers & Associates

6,350

3.4%

12/31/2024

24.03

Property

City National Park

Belux LLC (Aka Opus)

17,902

13.5%

12/31/2030

TDL Centers Inc

14,067

10.6%

7/14/2030

24.04

Property

79, 80

Grove Centre

Soberinves Sober Investments, LLC

10,885

17.7%

6/30/2024

Kabbalah Center

4,500

7.3%

2/28/2026

Loan

9, 81

Cabinetworks Portfolio

25.01

Property

15535 South State Avenue

Cabinetworks

937,825

100.0%

8/31/2040

NAP

25.02

Property

150 Grand Valley Avenue

Cabinetworks

353,588

100.0%

8/31/2040

NAP

25.03

Property

16052 Industrial Parkway

Cabinetworks

237,481

100.0%

8/31/2040

NAP

Loan

82, 83

Live Nation Downtown LA

Live Nation Worldwide

43,162

100.0%

1/2/2035

NAP

Loan

Kokot Portfolio

27.01

Property

638-640 East 14th Street

NAP

27.02

Property

217 East 22nd Street

NAP

27.03

Property

239 West 15th Street

NAP

27.04

Property

106 East 7th Street

NAP

27.05

Property

426 East 77th Street

NAP

27.06

Property

67 Saint Mark’s Place

NAP

Loan

16-18 Squadron Boulevard

Mid Rockland Imaging

32,100

62.8%

1/31/2027

Body Bank Fitness Corp.

7,000

13.7%

12/31/2023

Loan

85, 86, 87

Expressway Marketplace

Save Mart

53,950

34.8%

11/5/2031

Big Lots

29,250

18.9%

1/31/2026

Loan

7828 Georgia Avenue NW

Target Corporation

30,432

63.1%

1/31/2030

Morris Miller Liquors

9,571

19.9%

6/30/2028

Loan

9, 89

141 Livingston

City of New York Department of Citywide Administrative Services

206,084

96.4%

12/26/2025

Smith & Livingston Parking

7,568

3.5%

6/30/2027

Loan

2233 Nostrand Avenue

The Jewish Board

10,800

46.2%

6/30/2026

Mattress Firm

4,320

18.5%

2/28/2026

Loan

Birmingham Mixed Use Portfolio

33.01

Property

2014 Morris Avenue

Atlas RFID

10,140

49.5%

5/14/2023

Orchestra Partners

4,805

23.4%

2/29/2040

33.02

Property

209 41st Street South

Post Office Pies

3,748

30.2%

7/31/2027

Avondale Common House

3,130

25.2%

11/30/2024

33.03

Property

1024 20th Street South

NHAM LLC (MCFlys & Unplugged)

4,800

62.1%

3/31/2029

Bayleaf

2,300

29.8%

3/31/2029

Loan

1111 Southern Minerals Road

Corpus Christi - DOJ

28,100

100.0%

8/31/2034

NAP

Loan

9, 92

At Home - Willow Grove

At Home

94,554

100.0%

7/10/2029

NAP

Loan

VanWest MI Portfolio

36.01

Property

Shelby

NAP

36.02

Property

Warren

NAP

36.03

Property

Rockford

NAP

36.04

Property

Belmont

NAP

Loan

Teel Plastics Portfolio

37.01

Property

1060 Teel Court

Teel Plastics

139,090

100.0%

12/14/2040

NAP

37.02

Property

426 Hitchcock Street

Teel Plastics

69,850

100.0%

12/14/2040

NAP

Loan

Signal Hill Gateway

Ross

30,247

53.6%

1/31/2026

Petco

15,000

26.6%

10/31/2029

Loan

Rouzan Marketplace

Sprouts Farmers Market

30,000

80.4%

6/24/2034

Pizza Artista

3,082

8.3%

2/28/2031

Loan

Radiance Technologies

53,634

100.0%

8/31/2029

NAP

Loan

475 Grand Street

NAP

Loan

94, 95

Mile High Multifamily Portfolio

42.01

Property

Sunrise Apartments

NAP

42.02

Property

Olive Tree Apartments

NAP

42.03

Property

Tangiers Apartments

NAP

Loan

Mid Cape Flex

Rule Marketing, LLC

20,000

19.5%

8/31/2025

Energy Harness Corporation

14,061

13.7%

3/31/2024

Loan

500 W Superior

The Gardner School

19,823

100.0%

4/30/2040

NAP

Loan

PDX Front Ave Industrial

Pww Portland, LLC (Patriot)

47,175

65.9%

1/31/2031

Ruan Transport

17,600

24.6%

6/30/2023

Loan

2517 North Ontario

CenterStaging, LLC

22,900

100.0%

3/25/2026

NAP

Loan

4 Storage - Red Lion

NAP

A-1-8

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Third Largest Tenant

Third Largest Tenant SF

Third Largest Tenant % of NRA

Third Largest Tenant Lease Expiration Date

Fourth Largest Tenant

Fourth Largest Tenant SF

Fourth Largest Tenant % of NRA

Fourth Largest Tenant Lease Expiration Date

Fifth Largest Tenant

Fifth Largest Tenant SF

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

NAP

Loan

9, 18, 19, 20

SOMA Teleco Office

Neutral Tandem

3,922

3.5%

4/30/2026

Fortress SF1, LLC

2,580

2.3%

4/30/2026

Mpower Communications

2,470

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

Victrola Coffee

2,418

0.3%

5/27/2028

NAP

Loan

4800-4900 Fournace Place

Texas Justice Center

13,303

2.4%

9/30/2022

SLS Properties

11,319

2.0%

12/31/2025

Consultive Geonomics PLLC

4,450

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

Allergan Sales, LLC

168,673

12.5%

1/31/2027

Geller & Company

125,453

9.3%

4/30/2025

Morrison Cohen LLP

65,068

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

Affiliated Managers Group (AMG)

38,499

8.6%

3/31/2026

Greenberg Traurig

30,254

6.7%

11/30/2027

Morgan Stanley

26,463

Loan

2600 El Camino Real

NAP

Loan

175 Progress Place

Macy’s Inc.

166,600

17.9%

4/30/2028

General Electric Aviation

126,389

13.6%

11/30/2031

Pacific Manufacturing Ohio

43,266

Loan

42, 43

Boston Scientific

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

Garden City Group

28,533

9.1%

5/31/2022

Hull & Company

23,831

7.6%

7/31/2028

PharMerica Corporation

22,500

Loan

2501 Seaport

Schenker, Inc.

20,240

5.0%

10/31/2027

County of Delaware

16,140

4.0%

1/31/2026

SIG Combibloc, Inc.

14,437

Loan

48, 49, 50, 51

100 Bradley

NAP

Loan

618 Bushwick

NAP

Loan

Amazon Campbellsville Fulfillment Center

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

NAP

Loan

Nautica Pointe

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

17.01

Property

Galleria Tower I

Westlake Management

40,588

8.2%

8/31/2025

BKD, LLP

29,690

6.0%

6/30/2029

Ascende, Inc.

27,511

17.02

Property

Galleria Tower II

Kane Russell Coleman & Logan PC

25,390

7.9%

3/31/2022

Capgemini U.S. LLC

21,651

6.8%

1/31/2027

Infrastructure Network

15,879

17.03

Property

Galleria Financial Center

GSA

11,544

4.6%

2/28/2031

Banorte -IXE Securities

10,063

4.0%

2/29/2028

Fusion Learning, Inc

9,536

Loan

GE Aviation New Hampshire

NAP

Loan

66, 67, 68

2000 Collins Avenue

Sweet Liberty Brothers, LLC

3,562

10.0%

9/30/2030

Charles St. LLC (Orange Blossom)

2,473

7.0%

12/31/2028

Joe & The Juice Miami LLC

2,433

Loan

9, 69

U.S. Industrial Portfolio VI

20.01

Property

True Value

NAP

20.02

Property

Belnick

NAP

20.03

Property

Tufco - 3161 South Ridge Road

NAP

20.04

Property

Pro Con - 109 Maplewood Drive

NAP

20.05

Property

Total Logistics

NAP

20.06

Property

Pro Con - 2441 East Glendale Avenue

NAP

20.07

Property

Amaray

NAP

20.08

Property

Pro Con - 2430 East Glendale Avenue

NAP

20.09

Property

Tufco - 1205 Burris Road

NAP

20.10

Property

Tufco - 1055 Parkview Road

NAP

Loan

9, 71, 72

JW Marriott Nashville

NAP

Loan

The Promontory

Innovative Industrial Prop.

6,119

6.2%

4/15/2025

Hill International Inc.

6,063

6.2%

12/31/2022

Phunware, Inc.

5,353

Loan

18 Spencer Street

Silver Cup

3,629

7.0%

11/30/2025

Kindercare

3,629

7.0%

11/30/2030

Astar Home Capital

3,344

Loan

9, 74, 75, 76

Boca Office Portfolio

24.01

Property

Boardwalk @ 18th

Wild Hair Salon

5,889

4.5%

11/30/2021

Boca Pointe Community Assoc.

5,551

4.2%

11/30/2025

Rooms For Prince & Princess

4,920

24.02

Property

Fountains Center

Gil Lichtshein

5,987

3.2%

7/31/2026

Salt Academy

5,950

3.2%

8/31/2028

Cohen & Sheinker, MD, PA

5,066

24.03

Property

City National Park

Hellenic Petroleum LLC

8,381

6.3%

2/28/2025

Harbinger Capital Group

8,281

6.3%

6/30/2021

Revamp Healthcare Partners

7,622

24.04

Property

79, 80

Grove Centre

Big Boca Smiles

4,495

7.3%

11/30/2026

Sequoia Insurance

4,371

7.1%

10/31/2024

Skin Apeel, Inc.

3,162

Loan

9, 81

Cabinetworks Portfolio

25.01

Property

15535 South State Avenue

NAP

25.02

Property

150 Grand Valley Avenue

NAP

25.03

Property

16052 Industrial Parkway

NAP

Loan

82, 83

Live Nation Downtown LA

NAP

Loan

Kokot Portfolio

27.01

Property

638-640 East 14th Street

NAP

27.02

Property

217 East 22nd Street

NAP

27.03

Property

239 West 15th Street

NAP

27.04

Property

106 East 7th Street

NAP

27.05

Property

426 East 77th Street

NAP

27.06

Property

67 Saint Mark’s Place

NAP

Loan

16-18 Squadron Boulevard

Dr. Michael S. Rothstein D.D.S

3,035

5.9%

6/30/2023

All Sport & Spine

2,400

4.7%

4/29/2023

NCTRC

2,297

Loan

85, 86, 87

Expressway Marketplace

Petsmart

25,020

16.1%

10/31/2032

Fundemonium

14,000

9.0%

9/30/2024

Chuck E Cheese

11,250

Loan

7828 Georgia Avenue NW

Shephed Park Childrens Academy

3,942

8.2%

9/30/2033

Stella Chukwu, DDS

2,054

4.3%

1/31/2032

NAP

Loan

9, 89

141 Livingston

AT&T Mobility

0.0%

12/31/2023

NAP

Loan

2233 Nostrand Avenue

Law Offices of David Fleischmann

3,300

14.1%

7/31/2025

FedEx Office and Print Center

2,599

11.1%

3/31/2027

Dr. Petrosova

2,350

Loan

Birmingham Mixed Use Portfolio

33.01

Property

2014 Morris Avenue

Maestro Maintenance

3,056

14.9%

1/31/2040

NAP

33.02

Property

209 41st Street South

Saw’s Soul Kitchen

2,337

18.8%

11/30/2029

Balance Nutrition

2,200

17.7%

4/30/2024

Ampersandwich

1,000

33.03

Property

1024 20th Street South

Domestique Café

629

8.1%

3/31/2024

NAP

Loan

1111 Southern Minerals Road

NAP

Loan

9, 92

At Home - Willow Grove

NAP

Loan

VanWest MI Portfolio

36.01

Property

Shelby

NAP

36.02

Property

Warren

NAP

36.03

Property

Rockford

NAP

36.04

Property

Belmont

NAP

Loan

Teel Plastics Portfolio

37.01

Property

1060 Teel Court

NAP

37.02

Property

426 Hitchcock Street

NAP

Loan

Signal Hill Gateway

Dollar Tree

11,213

19.9%

2/25/2025

NAP

Loan

Rouzan Marketplace

Izzo’s Illegal Burritos

2,250

6.0%

2/28/2029

Ocean Nails

2,000

5.4%

5/31/2030

NAP

Loan

Radiance Technologies

NAP

Loan

475 Grand Street

NAP

Loan

94, 95

Mile High Multifamily Portfolio

42.01

Property

Sunrise Apartments

NAP

42.02

Property

Olive Tree Apartments

NAP

42.03

Property

Tangiers Apartments

NAP

Loan

Mid Cape Flex

Fair Play Indoor Sports, Inc.

11,850

11.5%

2/28/2024

Keltour US Inc.

9,440

9.2%

10/31/2024

Elite Performance Training Health

9,436

Loan

500 W Superior

NAP

Loan

PDX Front Ave Industrial

Hercules Towing

6,842

9.6%

11/30/2021

NAP

Loan

2517 North Ontario

NAP

Loan

4 Storage - Red Lion

NAP

A-1-9

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Fifth Largest Tenant % of NRA

Fifth Largest Tenant Lease Expiration Date

Environmental Phase I Report Date

Environmental Phase II Report Date

Engineering Report Date

Seismic Report Date

PML or SEL (%)

Flood Zone

Ownership Interest

Ground Lease Expiration Date

Ground Lease Extension Terms

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

NAP

1/20/2021

NAP

1/20/2021

12/24/2020

10%

Yes - AE

Fee

NAP

Loan

9, 18, 19, 20

SOMA Teleco Office

2.2%

8/31/2031

3/4/2021

NAP

2/24/2021

2/23/2021

14%

Fee

NAP

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

NAP

3/11/2021

NAP

3/11/2021

11%

Fee

NAP

Loan

4800-4900 Fournace Place

0.8%

6/30/2025

3/3/2021

NAP

3/3/2021

NAP

Fee

NAP

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

4.8%

12/31/2031

3/3/2021

NAP

3/3/2021

NAP

Leasehold

5/31/2041

1, 22-year and 6 months renewal

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

5.9%

10/31/2024

1/8/2021

NAP

12/28/2020

NAP

Yes - AE

Fee

NAP

Loan

2600 El Camino Real

NAP

2/16/2021

NAP

2/16/2021

2/17/2021

10%

Leasehold

9/30/2051

None

Loan

175 Progress Place

4.6%

11/30/2022

3/15/2021

NAP

3/12/2021

NAP

Fee

NAP

Loan

42, 43

Boston Scientific

NAP

1/27/2021

NAP

11/3/2020

NAP

Fee

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

7.2%

1/31/2031

7/1/2020

NAP

7/1/2020

NAP

Fee

NAP

Loan

2501 Seaport

3.6%

8/31/2022

11/18/2020

NAP

2/16/2021

NAP

Yes - AE

Fee

NAP

Loan

48, 49, 50, 51

100 Bradley

NAP

8/24/2020

NAP

8/24/2020

NAP

Fee

NAP

Loan

618 Bushwick

NAP

3/8/2021

NAP

3/8/2021

NAP

Fee

NAP

Loan

Amazon Campbellsville Fulfillment Center

NAP

3/1/2021

NAP

2/25/2021

NAP

Fee

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

NAP

1/27/2021

NAP

1/27/2021

NAP

Fee

NAP

Loan

Nautica Pointe

NAP

3/2/2021

NAP

3/2/2021

NAP

Fee

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

17.01

Property

Galleria Tower I

5.6%

4/30/2022

1/13/2020

NAP

1/13/2021

NAP

Fee

NAP

17.02

Property

Galleria Tower II

5.0%

3/31/2022

1/13/2020

NAP

1/13/2021

NAP

Fee

NAP

17.03

Property

Galleria Financial Center

3.8%

3/31/2025

1/13/2020

NAP

1/13/2021

NAP

Fee

NAP

Loan

GE Aviation New Hampshire

NAP

3/2/2021

NAP

2/26/2021

NAP

Fee

NAP

Loan

66, 67, 68

2000 Collins Avenue

6.9%

2/28/2030

3/8/2021

NAP

3/8/2021

NAP

Yes - AE

Fee

NAP

Loan

9, 69

U.S. Industrial Portfolio VI

20.01

Property

True Value

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.02

Property

Belnick

NAP

12/21/2020

NAP

12/21/2020

NAP

Fee

NAP

20.03

Property

Tufco - 3161 South Ridge Road

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.04

Property

Pro Con - 109 Maplewood Drive

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.05

Property

Total Logistics

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.06

Property

Pro Con - 2441 East Glendale Avenue

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.07

Property

Amaray

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.08

Property

Pro Con - 2430 East Glendale Avenue

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.09

Property

Tufco - 1205 Burris Road

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

20.10

Property

Tufco - 1055 Parkview Road

NAP

12/22/2020

NAP

12/22/2020

NAP

Fee

NAP

Loan

9, 71, 72

JW Marriott Nashville

NAP

2/25/2020

NAP

2/26/2020

NAP

Fee / Leasehold

3/6/2030

4, 10-year extension options

Loan

The Promontory

5.4%

6/30/2025

2/25/2021

NAP

2/25/2021

Fee

NAP

Loan

18 Spencer Street

6.4%

11/30/2025

1/21/2021

NAP

1/19/2021

NAP

Fee

NAP

Loan

9, 74, 75, 76

Boca Office Portfolio

24.01

Property

Boardwalk @ 18th

3.7%

8/31/2024

2/19/2020

NAP

2/20/2020

NAP

Yes - AE

Fee

NAP

24.02

Property

Fountains Center

2.7%

2/28/2023

2/21/2020

NAP

2/20/2020

NAP

Fee

NAP

24.03

Property

City National Park

5.8%

8/31/2027

2/20/2020

NAP

2/20/2020

NAP

Yes - AH, AE

Fee

NAP

24.04

Property

79, 80

Grove Centre

5.1%

1/31/2024

2/22/2020

NAP

2/20/2020

NAP

Fee

NAP

Loan

9, 81

Cabinetworks Portfolio

25.01

Property

15535 South State Avenue

NAP

7/24/2020

NAP

7/24/2020

NAP

Fee

NAP

25.02

Property

150 Grand Valley Avenue

NAP

7/24/2020

NAP

7/23/2020

NAP

Fee

NAP

25.03

Property

16052 Industrial Parkway

NAP

7/24/2020

NAP

7/24/2020

NAP

Fee

NAP

Loan

82, 83

Live Nation Downtown LA

NAP

3/16/2021

3/9/2020

3/16/2021

18%

Fee

NAP

Loan

Kokot Portfolio

27.01

Property

638-640 East 14th Street

NAP

3/1/2021

NAP

3/1/2021

NAP

Yes - AE

Fee

NAP

27.02

Property

217 East 22nd Street

NAP

3/1/2021

NAP

3/1/2021

NAP

Fee

NAP

27.03

Property

239 West 15th Street

NAP

3/1/2021

NAP

3/1/2021

NAP

Fee

NAP

27.04

Property

106 East 7th Street

NAP

3/1/2021

NAP

3/1/2021

NAP

Fee

NAP

27.05

Property

426 East 77th Street

NAP

3/1/2021

NAP

3/1/2021

NAP

Fee

NAP

27.06

Property

67 Saint Mark’s Place

NAP

3/1/2021

NAP

3/1/2021

NAP

Fee

NAP

Loan

16-18 Squadron Boulevard

4.5%

3/14/2022

12/1/2020

NAP

12/1/2020

NAP

Yes - AE

Fee

NAP

Loan

85, 86, 87

Expressway Marketplace

7.3%

8/31/2025

7/6/2020

NAP

3/1/2021

2/10/2021

Fee

NAP

Loan

7828 Georgia Avenue NW

NAP

2/12/2021

NAP

2/12/2021

NAP

Fee

NAP

Loan

9, 89

141 Livingston

NAP

2/2/2021

NAP

2/1/2021

NAP

Fee

NAP

Loan

2233 Nostrand Avenue

10.1%

11/30/2024

11/23/2020

NAP

11/23/2020

NAP

Fee

NAP

Loan

Birmingham Mixed Use Portfolio

33.01

Property

2014 Morris Avenue

NAP

2/9/2021

NAP

2/9/2021

NAP

Fee

NAP

33.02

Property

209 41st Street South

8.1%

4/30/2026

2/9/2021

NAP

2/9/2021

NAP

Fee

NAP

33.03

Property

1024 20th Street South

NAP

2/9/2021

NAP

2/9/2021

NAP

Fee

NAP

Loan

1111 Southern Minerals Road

NAP

2/19/2021

NAP

3/3/2021

NAP

Fee

NAP

Loan

9, 92

At Home - Willow Grove

NAP

4/7/2021

NAP

4/5/2021

NAP

Fee / Leasehold

7/31/2048

3, 10-year extension options

Loan

VanWest MI Portfolio

36.01

Property

Shelby

NAP

12/7/2020

NAP

12/7/2020

NAP

Fee

NAP

36.02

Property

Warren

NAP

12/7/2020

NAP

12/7/2020

NAP

Fee

NAP

36.03

Property

Rockford

NAP

12/10/2020

NAP

12/10/2020

NAP

Fee

NAP

36.04

Property

Belmont

NAP

12/8/2020

NAP

12/8/2020

NAP

Fee

NAP

Loan

Teel Plastics Portfolio

37.01

Property

1060 Teel Court

NAP

11/4/2020

NAP

11/4/2020

NAP

Fee

NAP

37.02

Property

426 Hitchcock Street

NAP

11/4/2020

NAP

11/4/2020

NAP

Fee

NAP

Loan

Signal Hill Gateway

NAP

11/17/2020

NAP

1/27/2021

1/26/2021

11%

Fee

NAP

Loan

Rouzan Marketplace

NAP

2/12/2021

NAP

2/12/2021

NAP

Fee

NAP

Loan

Radiance Technologies

NAP

3/11/2021

NAP

3/11/2021

NAP

Fee

NAP

Loan

475 Grand Street

NAP

2/9/2021

NAP

2/9/2021

NAP

Fee

NAP

Loan

94, 95

Mile High Multifamily Portfolio

42.01

Property

Sunrise Apartments

NAP

1/21/2021

NAP

1/6/2021

NAP

Fee

NAP

42.02

Property

Olive Tree Apartments

NAP

1/6/2021

NAP

1/6/2021

NAP

Fee

NAP

42.03

Property

Tangiers Apartments

NAP

1/6/2021

NAP

1/6/2021

NAP

Fee

NAP

Loan

Mid Cape Flex

9.2%

6/30/2025

1/12/2021

NAP

1/11/2021

NAP

Fee

NAP

Loan

500 W Superior

NAP

2/10/2021

NAP

2/10/2021

NAP

Fee

NAP

Loan

PDX Front Ave Industrial

NAP

2/5/2021

NAP

2/5/2021

2/25/2021

14%

Fee

NAP

Loan

2517 North Ontario

NAP

2/9/2021

NAP

2/9/2021

15%

Fee

NAP

Loan

4 Storage - Red Lion

NAP

2/19/2021

NAP

2/19/2021

NAP

Fee

NAP

A-1-10

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Annual Ground Lease Payment as of the Cut-off Date ($)	Annual Ground Rent Increases (Y/N)	Upfront RE Tax Reserve ($)	Monthly RE Tax Reserve ($)	Upfront Insurance Reserve ($)	Monthly Insurance Reserve ($)	Upfront Replacement / PIP Reserve ($)	Monthly Replacement / FF&E Reserve ($)

1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	NAP	NAP	0	Springing	0	Springing	0	Springing

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	NAP	NAP	79,120	79,120	0	Springing	0	2,307
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	NAP	NAP	0	Springing	0	Springing	0	Springing
4	Loan	26	1	4800-4900 Fournace Place	NAP	NAP	142,263	35,566	112,966	19,010	0	9,412

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	1,600,000	None	0	Springing	0	Springing	0	Springing
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	NAP	NAP	0	Springing	0	Springing	0	0
7	Loan	40	1	2600 El Camino Real	1,423,793	Yes	61,200	61,200	0	Springing	0	1,384
8	Loan	41	1	175 Progress Place	NAP	NAP	372,470	62,078	0	Springing	0	10,873
9	Loan	42, 43	1	Boston Scientific	NAP	NAP	0	Springing	0	Springing	0	Springing
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	NAP	NAP	374,559	187,280	0	Springing	0	6,504
11	Loan	47	1	2501 Seaport	NAP	NAP	300,378	42,911	0	Springing	0	13,134
12	Loan	48, 49, 50, 51	1	100 Bradley	NAP	NAP	240,642	35,862	0	Springing	0	1,042
13	Loan	52	1	618 Bushwick	NAP	NAP	27,390	6,847	6,784	6,784	2,063	2,063
14	Loan		1	Amazon Campbellsville Fulfillment Center	NAP	NAP	0	Springing	0	Springing	0	Springing
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	NAP	NAP	143,650	47,883	97,653	7,512	0	Springing
16	Loan		1	Nautica Pointe	NAP	NAP	126,617	63,309	0	Springing	0	2,757
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers			1,133,321	283,330	0	Springing	0	21,990
17.01	Property		1	Galleria Tower I	NAP	NAP
17.02	Property		1	Galleria Tower II	NAP	NAP
17.03	Property		1	Galleria Financial Center	NAP	NAP
18	Loan	65	1	GE Aviation New Hampshire	NAP	NAP	0	Springing	0	Springing	0	Springing
19	Loan	66, 67, 68	1	2000 Collins Avenue	NAP	NAP	142,574	23,762	0	Springing	444	444
20	Loan	9, 69	10	U.S. Industrial Portfolio VI			0	Springing	0	Springing	0	Springing
20.01	Property		1	True Value	NAP	NAP
20.02	Property		1	Belnick	NAP	NAP
20.03	Property		1	Tufco - 3161 South Ridge Road	NAP	NAP
20.04	Property		1	Pro Con - 109 Maplewood Drive	NAP	NAP
20.05	Property		1	Total Logistics	NAP	NAP
20.06	Property		1	Pro Con - 2441 East Glendale Avenue	NAP	NAP
20.07	Property		1	Amaray	NAP	NAP
20.08	Property		1	Pro Con - 2430 East Glendale Avenue	NAP	NAP
20.09	Property	70	1	Tufco - 1205 Burris Road	NAP	NAP
20.10	Property		1	Tufco - 1055 Parkview Road	NAP	NAP
21	Loan	9, 71, 72	1	JW Marriott Nashville	1	No	0	Springing	0	Springing	1,875,692	(i) for the payment dates through and including July 2023, 3% of Gross Revenues for the prior calendar month and (ii) thereafter, 4% of Gross Revenues for the prior calendar month

22	Loan	73	1	The Promontory	NAP	NAP	0	31,818	2,735	2,735	500,000	1,637
23	Loan		1	18 Spencer Street	NAP	NAP	14,011	2,002	21,669	2,709	0	871
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio			609,758	152,439	1,008,948	84,079	0	10,614
24.01	Property	77	1	Boardwalk @ 18th	NAP	NAP
24.02	Property		1	Fountains Center	NAP	NAP
24.03	Property	78	1	City National Park	NAP	NAP
24.04	Property	79, 80	1	Grove Centre	NAP	NAP
25	Loan	9, 81	3	Cabinetworks Portfolio			0	Springing	0	Springing	0	Springing
25.01	Property		1	15535 South State Avenue	NAP	NAP
25.02	Property		1	150 Grand Valley Avenue	NAP	NAP
25.03	Property		1	16052 Industrial Parkway	NAP	NAP
26	Loan	82, 83	1	Live Nation Downtown LA	NAP	NAP	12,103	3,026	0	Springing	0	540
27	Loan		6	Kokot Portfolio			423,796	84,759	0	Springing	0	2,790
27.01	Property		1	638-640 East 14th Street	NAP	NAP
27.02	Property		1	217 East 22nd Street	NAP	NAP
27.03	Property		1	239 West 15th Street	NAP	NAP
27.04	Property		1	106 East 7th Street	NAP	NAP
27.05	Property		1	426 East 77th Street	NAP	NAP
27.06	Property		1	67 Saint Mark’s Place	NAP	NAP
28	Loan	84	1	16-18 Squadron Boulevard	NAP	NAP	140,877	28,175	12,184	3,046	0	852
29	Loan	85, 86, 87	1	Expressway Marketplace	NAP	NAP	0	Springing	0	Springing	0	3,488
30	Loan	88	1	7828 Georgia Avenue NW	NAP	NAP	46,878	23,439	0	Springing	0	723
31	Loan	9, 89	1	141 Livingston	NAP	NAP	70,582	17,646	0	Springing	0	Springing
32	Loan		1	2233 Nostrand Avenue	NAP	NAP	28,367	5,673	4,109	1,027	100,000	353
33	Loan	90	3	Birmingham Mixed Use Portfolio			10,308	3,436	0	Springing	0	736
33.01	Property		1	2014 Morris Avenue	NAP	NAP
33.02	Property		1	209 41st Street South	NAP	NAP
33.03	Property		1	1024 20th Street South	NAP	NAP
34	Loan	91	1	1111 Southern Minerals Road	NAP	NAP	5,873	1,468	0	Springing	351	351
35	Loan	9, 92	1	At Home - Willow Grove	320,951	No	0	Springing	0	Springing	0	1,182
36	Loan		4	VanWest MI Portfolio			78,016	19,504	3,438	1,719	0	2,348
36.01	Property		1	Shelby	NAP	NAP
36.02	Property		1	Warren	NAP	NAP
36.03	Property		1	Rockford	NAP	NAP
36.04	Property		1	Belmont	NAP	NAP
37	Loan		2	Teel Plastics Portfolio			0	Springing	0	Springing	0	Springing
37.01	Property		1	1060 Teel Court	NAP	NAP
37.02	Property		1	426 Hitchcock Street	NAP	NAP
38	Loan		1	Signal Hill Gateway	NAP	NAP	0	16,497	3,196	1,598	0	1,189
39	Loan	93	1	Rouzan Marketplace	NAP	NAP	3,071	614	17,465	1,588	0	467
40	Loan		1	Radiance Technologies	NAP	NAP	77,458	19,365	0	Springing	0	894
41	Loan		1	475 Grand Street	NAP	NAP	29,957	5,991	1,687	422	0	133
42	Loan	94, 95	3	Mile High Multifamily Portfolio			0	6,596	2,827	2,827	360,000	2,400
42.01	Property		1	Sunrise Apartments	NAP	NAP
42.02	Property		1	Olive Tree Apartments	NAP	NAP
42.03	Property		1	Tangiers Apartments	NAP	NAP
43	Loan	96	1	Mid Cape Flex	NAP	NAP	53,629	7,661	35,599	4,450	0	1,369
44	Loan	97	1	500 W Superior	NAP	NAP	43,335	10,834	4,003	801	0	248
45	Loan		1	PDX Front Ave Industrial	NAP	NAP	39,146	6,524	22,238	1,853	0	718
46	Loan		1	2517 North Ontario	NAP	NAP	0	Springing	0	Springing	0	Springing
47	Loan	98	1	4 Storage - Red Lion	NAP	NAP	3,969	3,969	0	Springing	0	365

A-1-11

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Replacement Reserve Caps ($)	Upfront TI/LC Reserve ($)	Monthly TI/LC Reserve ($)	TI/LC Caps ($)	Upfront Debt Service Reserve ($)	Monthly Debt Service Reserve ($)	Debt Service Reserve Cap ($)	Upfront Deferred Maintenance Reserve ($)	Upfront Other Reserve ($)	Monthly Other Reserve ($)

1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	32,205	0	Springing	0	0	0	0	0	122,730,124	Springing

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	0	0	13,840	0	0	0	0	0	949,120	0
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	0	16,421,411	Springing	0	0	0	0	0	5,572,775	Springing
4	Loan	26	1	4800-4900 Fournace Place	0	0	47,062	0	0	0	0	0	2,350,000	Springing

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	0	0	Springing	0	0	0	0	0	319,928	Springing
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	0	6,650,000	Springing	6,650,000	0	0	0	768,881	1,556,161	0
7	Loan	40	1	2600 El Camino Real	49,841	0	0	0	0	0	0	0	2,918,776	118,649
8	Loan	41	1	175 Progress Place	0	1,700,000	19,416	2,700,000	0	0	0	96,406	770,442	0
9	Loan	42, 43	1	Boston Scientific	50,383	0	Springing	231,745	0	0	0	0	0	0
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	0	3,000,000	Springing	1,170,788	0	0	0	4,620	3,422,872	0
11	Loan	47	1	2501 Seaport	0	0	41,759	0	0	0	0	104,813	1,041,607	0
12	Loan	48, 49, 50, 51	1	100 Bradley	0	0	0	0	599,635	0	0	0	303,011	0
13	Loan	52	1	618 Bushwick	0	0	0	0	0	0	0	0	15,000	0
14	Loan		1	Amazon Campbellsville Fulfillment Center	0	0	Springing	0	565,110	0	0	0	363,500	0
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	0	0	0	0	0	0	0	0	4,868,592	0
16	Loan		1	Nautica Pointe	85,200	0	0	0	0	0	0	0	0	0
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	0	6,000,000	88,973	8,000,000	0	0	0	0	2,290,985	Springing
17.01	Property		1	Galleria Tower I
17.02	Property		1	Galleria Tower II
17.03	Property		1	Galleria Financial Center
18	Loan	65	1	GE Aviation New Hampshire	0	0	Springing	0	0	0	0	0	0	0
19	Loan	66, 67, 68	1	2000 Collins Avenue	0	8,333	8,333	400,000	0	0	0	0	500,000	0
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	894,587	0	Springing	1,789,173	0	0	0	0	701,088	0
20.01	Property		1	True Value
20.02	Property		1	Belnick
20.03	Property		1	Tufco - 3161 South Ridge Road
20.04	Property		1	Pro Con - 109 Maplewood Drive
20.05	Property		1	Total Logistics
20.06	Property		1	Pro Con - 2441 East Glendale Avenue
20.07	Property		1	Amaray
20.08	Property		1	Pro Con - 2430 East Glendale Avenue
20.09	Property	70	1	Tufco - 1205 Burris Road
20.10	Property		1	Tufco - 1055 Parkview Road
21	Loan	9, 71, 72	1	JW Marriott Nashville	0	0	0	0	8,831,707	0	0	0	0	0

22	Loan	73	1	The Promontory	0	750,000	Springing	491,245	0	0	0	0	54,873	0
23	Loan		1	18 Spencer Street	0	0	5,446	350,000	388,830	0	0	45,000	225,600	0
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	0	1,500,000	42,877	3,000,000	1,000,000	Springing	0	18,755	211,000	0
24.01	Property	77	1	Boardwalk @ 18th
24.02	Property		1	Fountains Center
24.03	Property	78	1	City National Park
24.04	Property	79, 80	1	Grove Centre
25	Loan	9, 81	3	Cabinetworks Portfolio	305,779	0	Springing	1,528,894	0	0	0	0	0	0
25.01	Property		1	15535 South State Avenue
25.02	Property		1	150 Grand Valley Avenue
25.03	Property		1	16052 Industrial Parkway
26	Loan	82, 83	1	Live Nation Downtown LA	19,423	0	3,598	0	790,833	0	0	0	0	0
27	Loan		6	Kokot Portfolio	0	0	0	0	0	0	0	0	0	0
27.01	Property		1	638-640 East 14th Street
27.02	Property		1	217 East 22nd Street
27.03	Property		1	239 West 15th Street
27.04	Property		1	106 East 7th Street
27.05	Property		1	426 East 77th Street
27.06	Property		1	67 Saint Mark’s Place
28	Loan	84	1	16-18 Squadron Boulevard	0	0	7,159	258,922	0	0	0	4,563	0	0
29	Loan	85, 86, 87	1	Expressway Marketplace	0	0	6,460	232,543	244,712	0	0	0	84,341	Springing
30	Loan	88	1	7828 Georgia Avenue NW	0	0	Springing	0	0	0	0	6,050	423,936	0
31	Loan	9, 89	1	141 Livingston	0	0	0	0	0	0	0	0	0	Springing
32	Loan		1	2233 Nostrand Avenue	0	0	3,875	200,000	400,000	0	0	4,400	2,700	2,700
33	Loan	90	3	Birmingham Mixed Use Portfolio	0	100,000	3,387	0	310,384	0	0	0	0	0
33.01	Property		1	2014 Morris Avenue
33.02	Property		1	209 41st Street South
33.03	Property		1	1024 20th Street South
34	Loan	91	1	1111 Southern Minerals Road	0	0	0	0	0	0	0	10,323	90,721	0
35	Loan	9, 92	1	At Home - Willow Grove	0	0	5,910	0	0	0	0	0	1,835,000	0
36	Loan		4	VanWest MI Portfolio	0	0	0	0	0	0	0	469,949	0	0
36.01	Property		1	Shelby
36.02	Property		1	Warren
36.03	Property		1	Rockford
36.04	Property		1	Belmont
37	Loan		2	Teel Plastics Portfolio	0	0	0	0	173,052	0	0	0	0	0
37.01	Property		1	1060 Teel Court
37.02	Property		1	426 Hitchcock Street
38	Loan		1	Signal Hill Gateway	0	0	4,705	282,300	195,864	0	0	0	150,000	0
39	Loan	93	1	Rouzan Marketplace	0	0	2,333	0	0	0	0	0	159,651	0
40	Loan		1	Radiance Technologies	53,634	0	4,470	0	0	0	0	0	0	0
41	Loan		1	475 Grand Street	0	0	0	0	0	0	0	0	0	0
42	Loan	94, 95	3	Mile High Multifamily Portfolio	0	0	0	0	60,000	0	0	132,688	0	0
42.01	Property		1	Sunrise Apartments
42.02	Property		1	Olive Tree Apartments
42.03	Property		1	Tangiers Apartments
43	Loan	96	1	Mid Cape Flex	32,858	100,000	8,557	200,000	0	0	0	0	15,000	0
44	Loan	97	1	500 W Superior	0	200,000	3,304	400,000	243,303	0	0	0	0	0
45	Loan		1	PDX Front Ave Industrial	0	0	2,566	92,385	0	0	0	11,875	0	Springing
46	Loan		1	2517 North Ontario	0	0	Springing	0	0	0	0	0	225,000	0
47	Loan	98	1	4 Storage - Red Lion	0	0	0	0	0	0	0	13,125	0	0

A-1-12

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Other Reserve Description	Other Reserve Cap ($)	Holdback/ Earnout Amount ($)	Holdback/ Earnout Description	Lockbox Type	Cash Management

1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	Unfunded Obligations Reserve (Upfront: $122,730,124.21), Ground Rent Reserve (Monthly: Springing)	0	0	NAP	Hard	Springing

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	Unfunded Obligations Reserve	0	0	NAP	Hard	In Place
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	Free Rent Reserve (Upfront: $5,572,775.41), Condominium Reserve (Monthly: Springing)	0	0	NAP	Hard	Springing
4	Loan	26	1	4800-4900 Fournace Place	Capital Improvement Reserve (Upfront: $2,350,000), Houston Methodist Reserve (Monthly: Springing; Cap: $1,000,000)	1,000,000	0	NAP	Hard	In Place

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	Unfunded Obligations Reserve (Upfront: $319,928), Ground Rent Reserve (Monthly: Springing), Specified Tenant Trigger Reserve (Monthly: Springing)	Specified Tenant Trigger Reserve ($16,181,480)	0	NAP	Hard	Springing
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
7	Loan	40	1	2600 El Camino Real	Unfunded Obligations Reserve (Upfront: $2,800,126.87), Ground Rent Reserve (Upfront: $118,649.40; Monthly: $118,649.40)	0	0	NAP	Hard	Springing
8	Loan	41	1	175 Progress Place	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
9	Loan	42, 43	1	Boston Scientific	NAP	0	0	NAP	Hard	Springing
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
11	Loan	47	1	2501 Seaport	Unfunded Obligations Reserve ($978,023.53), Talen Energy Reserve ($63,583.37)	0	0	NAP	Hard	Springing
12	Loan	48, 49, 50, 51	1	100 Bradley	Fortress Reimbursement Reserve ($213,011), Transformer Reserve ($90,000)	0	0	NAP	Springing	Springing
13	Loan	52	1	618 Bushwick	Municipal Violation Reserve	0	0	NAP	Hard	Springing
14	Loan		1	Amazon Campbellsville Fulfillment Center	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	Outstanding TI/LC Reserve: ($4,799,293), Condominium Reserve: ($69,299)	0	0	NAP	Hard	Springing
16	Loan		1	Nautica Pointe	NAP	0	0	NAP	None	None
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	Condo Reserve Funds (Upfront: $98,143.16, Monthly: Springing), Unfunded Obligations Reserve ($2,192,842)	0	0	NAP	Hard	Springing
17.01	Property		1	Galleria Tower I
17.02	Property		1	Galleria Tower II
17.03	Property		1	Galleria Financial Center
18	Loan	65	1	GE Aviation New Hampshire	NAP	0	0	NAP	Hard	Springing
19	Loan	66, 67, 68	1	2000 Collins Avenue	Outstanding TI Reserve	0	0	NAP	Springing	Springing
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
20.01	Property		1	True Value
20.02	Property		1	Belnick
20.03	Property		1	Tufco - 3161 South Ridge Road
20.04	Property		1	Pro Con - 109 Maplewood Drive
20.05	Property		1	Total Logistics
20.06	Property		1	Pro Con - 2441 East Glendale Avenue
20.07	Property		1	Amaray
20.08	Property		1	Pro Con - 2430 East Glendale Avenue
20.09	Property	70	1	Tufco - 1205 Burris Road
20.10	Property		1	Tufco - 1055 Parkview Road
21	Loan	9, 71, 72	1	JW Marriott Nashville	NAP	0	0	NAP	Hard	Springing

22	Loan	73	1	The Promontory	Free Rent Reserve	0	0	NAP	Springing	Springing
23	Loan		1	18 Spencer Street	Free Rent Reserve	0	0	NAP	Springing	Springing
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	Unfunded Obligations Reserve	0	0	NAP	Hard	Springing
24.01	Property	77	1	Boardwalk @ 18th
24.02	Property		1	Fountains Center
24.03	Property	78	1	City National Park
24.04	Property	79, 80	1	Grove Centre
25	Loan	9, 81	3	Cabinetworks Portfolio	NAP	0	0	NAP	Hard	Springing
25.01	Property		1	15535 South State Avenue
25.02	Property		1	150 Grand Valley Avenue
25.03	Property		1	16052 Industrial Parkway
26	Loan	82, 83	1	Live Nation Downtown LA	NAP	0	0	NAP	Hard	Springing
27	Loan		6	Kokot Portfolio	NAP	0	0	NAP	Springing	Springing
27.01	Property		1	638-640 East 14th Street
27.02	Property		1	217 East 22nd Street
27.03	Property		1	239 West 15th Street
27.04	Property		1	106 East 7th Street
27.05	Property		1	426 East 77th Street
27.06	Property		1	67 Saint Mark’s Place
28	Loan	84	1	16-18 Squadron Boulevard	NAP	0	0	NAP	Springing	Springing
29	Loan	85, 86, 87	1	Expressway Marketplace	Free Rent Reserve (Upfront: $84,341.25), Big Lots Extension Funds (Monthly: Springing)	0	0	NAP	Hard	In Place
30	Loan	88	1	7828 Georgia Avenue NW	Unfunded Obligations Reserve ($258,620), Free Rent Reserve ($165,316)	0	0	NAP	Hard	Springing
31	Loan	9, 89	1	141 Livingston	Renewal Tenant Reserve	0	0	NAP	Springing	Springing
32	Loan		1	2233 Nostrand Avenue	Free Rent Reserve	0	0	NAP	Springing	Springing
33	Loan	90	3	Birmingham Mixed Use Portfolio	NAP	0	0	NAP	Hard	Springing
33.01	Property		1	2014 Morris Avenue
33.02	Property		1	209 41st Street South
33.03	Property		1	1024 20th Street South
34	Loan	91	1	1111 Southern Minerals Road	Rent Reserve	0	0	NAP	Hard	Springing
35	Loan	9, 92	1	At Home - Willow Grove	Unfunded Obligations Reserve	0	0	NAP	Hard	In Place
36	Loan		4	VanWest MI Portfolio	NAP	0	0	NAP	Springing	Springing
36.01	Property		1	Shelby
36.02	Property		1	Warren
36.03	Property		1	Rockford
36.04	Property		1	Belmont
37	Loan		2	Teel Plastics Portfolio	NAP	0	0	NAP	Hard	In Place
37.01	Property		1	1060 Teel Court
37.02	Property		1	426 Hitchcock Street
38	Loan		1	Signal Hill Gateway	Petco TI Reserve	0	0	NAP	Hard	Springing
39	Loan	93	1	Rouzan Marketplace	Unfunded Obligations Reserve	0	0	NAP	Hard	In Place
40	Loan		1	Radiance Technologies	NAP	0	0	NAP	Springing	Springing
41	Loan		1	475 Grand Street	NAP	0	0	NAP	Springing	Springing
42	Loan	94, 95	3	Mile High Multifamily Portfolio	NAP	0	0	NAP	Springing	Springing
42.01	Property		1	Sunrise Apartments
42.02	Property		1	Olive Tree Apartments
42.03	Property		1	Tangiers Apartments
43	Loan	96	1	Mid Cape Flex	Unfunded Obligations Reserve	0	0	NAP	Springing	Springing
44	Loan	97	1	500 W Superior	NAP	0	0	NAP	Hard	Springing
45	Loan		1	PDX Front Ave Industrial	Raun Renewal Reserve	0	0	NAP	Hard	Springing
46	Loan		1	2517 North Ontario	Center Staging Prepaid Rent Reserve	0	0	NAP	Springing	Springing
47	Loan	98	1	4 Storage - Red Lion	NAP	0	0	NAP	Springing	Springing

A-1-13

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)

Tenant Specific Excess Cash Trap Trigger (Y/N)

Pari Passu (Y/N)

Pari Passu in Trust Controlling (Y/N)

Trust Pari Passu Cut-off Date Balance ($)

Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($)

Non-Trust Pari Passu Companion Loan Monthly Debt Service ($)

Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($)

Subordinate Companion Loan Cut-off Date Balance ($)

Subordinate Companion Loan Interest Rate

Whole Loan Cut-off Date Balance ($)

Whole Loan Monthly Debt Service ($)

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

Yes

120,000,000

260,000,000

662,718.33

968,588.33

240,000,000

3.01680%

620,000,000

1,580,328.33

Loan

9, 18, 19, 20

SOMA Teleco Office

Yes

NAP

12,500,000

3.66000%

115,000,000

355,621.52

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

Yes

90,000,000

144,900,000

367,872.94

596,365.45

155,100,000

3.004833%

390,000,000

990,134.21

Loan

4800-4900 Fournace Place

Yes

NAP

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

Yes

50,000,000

185,600,000

506,511.85

642,964.40

114,400,000

3.23000%

350,000,000

955,167.83

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

Yes

48,520,000

150,000,000

423,301.78

560,225.80

NAP

198,520,000

560,225.80

Loan

2600 El Camino Real

Yes

NAP

Loan

175 Progress Place

Yes

NAP

Loan

42, 43

Boston Scientific

Yes

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

Yes

37,000,000

18,500,000

86,792.93

260,378.78

NAP

55,500,000

260,378.78

Loan

2501 Seaport

Yes

NAP

Loan

48, 49, 50, 51

100 Bradley

Yes

NAP

Loan

618 Bushwick

Yes

NAP

Loan

Amazon Campbellsville Fulfillment Center

Yes

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

Yes

26,000,000

45,000,000

128,168.23

202,220.98

NAP

71,000,000

202,220.98

Loan

Nautica Pointe

Yes

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

Yes

24,969,936

64,921,834

327,802.40

453,880.24

NAP

89,891,770

453,880.24

17.01

Property

Galleria Tower I

17.02

Property

Galleria Tower II

17.03

Property

Galleria Financial Center

Loan

GE Aviation New Hampshire

Yes

NAP

Loan

66, 67, 68

2000 Collins Avenue

Yes

NAP

Loan

9, 69

U.S. Industrial Portfolio VI

Yes

21,000,000

60,000,000

188,380.56

254,313.75

NAP

81,000,000

254,313.75

20.01

Property

True Value

20.02

Property

Belnick

20.03

Property

Tufco - 3161 South Ridge Road

20.04

Property

Pro Con - 109 Maplewood Drive

20.05

Property

Total Logistics

20.06

Property

Pro Con - 2441 East Glendale Avenue

20.07

Property

Amaray

20.08

Property

Pro Con - 2430 East Glendale Avenue

20.09

Property

Tufco - 1205 Burris Road

20.10

Property

Tufco - 1055 Parkview Road

Loan

9, 71, 72

JW Marriott Nashville

Yes

20,000,000

165,000,000

437,607.12

490,650.41

NAP

185,000,000

490,650.41

Loan

The Promontory

Yes

NAP

Loan

18 Spencer Street

Yes

NAP

Loan

9, 74, 75, 76

Boca Office Portfolio

Yes

19,300,000

79,700,000

270,703.26

336,256.25

NAP

99,000,000

336,256.25

24.01

Property

Boardwalk @ 18th

24.02

Property

Fountains Center

24.03

Property

City National Park

24.04

Property

79, 80

Grove Centre

Loan

9, 81

Cabinetworks Portfolio

Yes

17,333,000

30,000,000

131,750.32

207,871.26

NAP

47,333,000

207,871.26

25.01

Property

15535 South State Avenue

25.02

Property

150 Grand Valley Avenue

25.03

Property

16052 Industrial Parkway

Loan

82, 83

Live Nation Downtown LA

Yes

NAP

Loan

Kokot Portfolio

Yes

NAP

27.01

Property

638-640 East 14th Street

27.02

Property

217 East 22nd Street

27.03

Property

239 West 15th Street

27.04

Property

106 East 7th Street

27.05

Property

426 East 77th Street

27.06

Property

67 Saint Mark’s Place

Loan

16-18 Squadron Boulevard

Yes

NAP

Loan

85, 86, 87

Expressway Marketplace

Yes

NAP

Loan

7828 Georgia Avenue NW

Yes

NAP

Loan

9, 89

141 Livingston

Yes

12,500,000

87,500,000

237,313.37

271,215.28

NAP

100,000,000

271,215.28

Loan

2233 Nostrand Avenue

Yes

NAP

Loan

Birmingham Mixed Use Portfolio

Yes

NAP

33.01

Property

2014 Morris Avenue

33.02

Property

209 41st Street South

33.03

Property

1024 20th Street South

Loan

1111 Southern Minerals Road

Yes

NAP

Loan

9, 92

At Home - Willow Grove

Yes

NAP

2,000,000

3.88000%

12,061,322

57,168.56

Loan

VanWest MI Portfolio

Yes

NAP

36.01

Property

Shelby

36.02

Property

Warren

36.03

Property

Rockford

36.04

Property

Belmont

Loan

Teel Plastics Portfolio

Yes

NAP

37.01

Property

1060 Teel Court

37.02

Property

426 Hitchcock Street

Loan

Signal Hill Gateway

Yes

NAP

Loan

Rouzan Marketplace

Yes

NAP

Loan

Radiance Technologies

Yes

NAP

Loan

475 Grand Street

Yes

NAP

Loan

94, 95

Mile High Multifamily Portfolio

Yes

NAP

42.01

Property

Sunrise Apartments

42.02

Property

Olive Tree Apartments

42.03

Property

Tangiers Apartments

Loan

Mid Cape Flex

Yes

NAP

Loan

500 W Superior

Yes

NAP

Loan

PDX Front Ave Industrial

Yes

NAP

Loan

2517 North Ontario

Yes

NAP

Loan

4 Storage - Red Lion

Yes

NAP

A-1-14

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Whole Loan Cut-off Date LTV Ratio (%)

Whole Loan Underwritten NCF DSCR (x)

Whole Loan Underwritten NOI Debt Yield (%)

Mezzanine Debt Cut-off Date Balance($)

Mezzanine Debt Interest Rate (%)

Total Debt Cut-off Date Balance ($)

Total Debt Monthly Debt Service ($)

Total Debt Cut-off Date LTV Ratio (%)

Total Debt Underwritten NCF DSCR (x)

Total Debt Underwritten NOI Debt Yield (%)

Future Additional Debt Permitted (Y/N)

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

62.0%

2.89

8.9%

130,000,000

4.50000%

750,000,000

3,435,652.96

75.0%

1.33

7.4%

Loan

9, 18, 19, 20

SOMA Teleco Office

74.2%

2.02

7.5%

NAP

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

58.2%

2.57

7.9%

65,000,000

6.10000%

455,000,000

1,325,140.00

67.9%

1.92

6.8%

Loan

4800-4900 Fournace Place

NAP

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

51.9%

2.72

9.5%

NAP

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

68.7%

2.78

9.7%

30,540,000

7.00000%

229,060,000

740,850.11

79.3%

2.10

8.4%

Loan

2600 El Camino Real

NAP

Loan

175 Progress Place

NAP

Loan

42, 43

Boston Scientific

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

74.0%

1.67

9.5%

NAP

Loan

2501 Seaport

NAP

Loan

48, 49, 50, 51

100 Bradley

NAP

Loan

618 Bushwick

NAP

Loan

Amazon Campbellsville Fulfillment Center

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

64.5%

1.92

6.6%

NAP

Loan

Nautica Pointe

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

48.6%

1.71

12.6%

NAP

17.01

Property

Galleria Tower I

17.02

Property

Galleria Tower II

17.03

Property

Galleria Financial Center

Loan

GE Aviation New Hampshire

NAP

Loan

66, 67, 68

2000 Collins Avenue

NAP

Loan

9, 69

U.S. Industrial Portfolio VI

59.3%

2.56

10.7%

NAP

Yes

20.01

Property

True Value

20.02

Property

Belnick

20.03

Property

Tufco - 3161 South Ridge Road

20.04

Property

Pro Con - 109 Maplewood Drive

20.05

Property

Total Logistics

20.06

Property

Pro Con - 2441 East Glendale Avenue

20.07

Property

Amaray

20.08

Property

Pro Con - 2430 East Glendale Avenue

20.09

Property

Tufco - 1205 Burris Road

20.10

Property

Tufco - 1055 Parkview Road

Loan

9, 71, 72

JW Marriott Nashville

61.5%

4.17

15.3%

NAP

Loan

The Promontory

NAP

Loan

18 Spencer Street

NAP

Loan

9, 74, 75, 76

Boca Office Portfolio

63.5%

2.46

10.6%

NAP

24.01

Property

Boardwalk @ 18th

24.02

Property

Fountains Center

24.03

Property

City National Park

24.04

Property

79, 80

Grove Centre

Loan

9, 81

Cabinetworks Portfolio

64.4%

2.08

11.7%

NAP

Yes

25.01

Property

15535 South State Avenue

25.02

Property

150 Grand Valley Avenue

25.03

Property

16052 Industrial Parkway

Loan

82, 83

Live Nation Downtown LA

NAP

Loan

Kokot Portfolio

NAP

27.01

Property

638-640 East 14th Street

27.02

Property

217 East 22nd Street

27.03

Property

239 West 15th Street

27.04

Property

106 East 7th Street

27.05

Property

426 East 77th Street

27.06

Property

67 Saint Mark’s Place

Loan

16-18 Squadron Boulevard

NAP

Loan

85, 86, 87

Expressway Marketplace

NAP

Yes

Loan

7828 Georgia Avenue NW

NAP

Loan

9, 89

141 Livingston

54.9%

2.52

8.9%

NAP

Loan

2233 Nostrand Avenue

NAP

Loan

Birmingham Mixed Use Portfolio

NAP

33.01

Property

2014 Morris Avenue

33.02

Property

209 41st Street South

33.03

Property

1024 20th Street South

Loan

1111 Southern Minerals Road

NAP

Loan

9, 92

At Home - Willow Grove

60.0%

1.82

10.8%

NAP

Loan

VanWest MI Portfolio

NAP

36.01

Property

Shelby

36.02

Property

Warren

36.03

Property

Rockford

36.04

Property

Belmont

Loan

Teel Plastics Portfolio

NAP

37.01

Property

1060 Teel Court

37.02

Property

426 Hitchcock Street

Loan

Signal Hill Gateway

NAP

Loan

Rouzan Marketplace

NAP

Loan

Radiance Technologies

NAP

Loan

475 Grand Street

NAP

Loan

94, 95

Mile High Multifamily Portfolio

NAP

42.01

Property

Sunrise Apartments

42.02

Property

Olive Tree Apartments

42.03

Property

Tangiers Apartments

Loan

Mid Cape Flex

NAP

Loan

500 W Superior

NAP

Loan

PDX Front Ave Industrial

NAP

Loan

2517 North Ontario

NAP

Loan

4 Storage - Red Lion

NAP

A-1-15

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Future Debt Permitted Type	Sponsor

1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	NAP	Kylli Inc.

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	NAP	John R. Winther
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	NAP	KKR Real Estate Select Trust Inc.
4	Loan	26	1	4800-4900 Fournace Place	NAP	Danny M. Sheena and Osama Abdullatif

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	NAP	Vornado Realty L.P.
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	NAP	The Related Companies, Inc.
7	Loan	40	1	2600 El Camino Real	NAP	SHP Master II, LLC
8	Loan	41	1	175 Progress Place	NAP	Peter Murphy, Matthew O’Connor, Kevin Smith and Jonathan Stott
9	Loan	42, 43	1	Boston Scientific	NAP	New Mountain Net Lease Partners Corporation and New Mountain Net Lease Corporation
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	NAP	Abraham Grunhut
11	Loan	47	1	2501 Seaport	NAP	Jay Sugarman
12	Loan	48, 49, 50, 51	1	100 Bradley	NAP	Steven J. Guttman
13	Loan	52	1	618 Bushwick	NAP	Cayuga Capital Management LLC and Wildenstein & Co
14	Loan		1	Amazon Campbellsville Fulfillment Center	NAP	Edmund C. Wideman III, Matthew M. Wideman and Christopher D. Wideman
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	NAP	Massa Nova GmbH
16	Loan		1	Nautica Pointe	NAP	David M. Conwill and Steven B. Kimmelman
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	NAP	Azrieli Group Ltd.
17.01	Property		1	Galleria Tower I
17.02	Property		1	Galleria Tower II
17.03	Property		1	Galleria Financial Center
18	Loan	65	1	GE Aviation New Hampshire	NAP	Moses Mizrahi
19	Loan	66, 67, 68	1	2000 Collins Avenue	NAP	Elyahu Cohen, Alexander Smith and Joey Cohen
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	Mezzanine (After 180 days from the origination date, Max Combined LTV of 56.37%, Min Combined DSCR of 3.269x, Min Combined DY of 12.32%; Intercreditor Agreement is required)	BIG STNL II LLC
20.01	Property		1	True Value
20.02	Property		1	Belnick
20.03	Property		1	Tufco - 3161 South Ridge Road
20.04	Property		1	Pro Con - 109 Maplewood Drive
20.05	Property		1	Total Logistics
20.06	Property		1	Pro Con - 2441 East Glendale Avenue
20.07	Property		1	Amaray
20.08	Property		1	Pro Con - 2430 East Glendale Avenue
20.09	Property	70	1	Tufco - 1205 Burris Road
20.10	Property		1	Tufco - 1055 Parkview Road
21	Loan	9, 71, 72	1	JW Marriott Nashville	NAP	Jacquelyn Soffer

22	Loan	73	1	The Promontory	NAP	Stephen M. Zotovich
23	Loan		1	18 Spencer Street	NAP	Pinchos Loketch and Chana Lichtenstein
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	NAP	Carlos Ulloa, Debra Corchia, Daniel Statlander and James Capirio
24.01	Property	77	1	Boardwalk @ 18th
24.02	Property		1	Fountains Center
24.03	Property	78	1	City National Park
24.04	Property	79, 80	1	Grove Centre
25	Loan	9, 81	3	Cabinetworks Portfolio	Mezzanine (Max Combined LTV of 64.4%; Min Combined DSCR of 2.35x; Min Combined Debt Yield of 12.38%; Intercreditor Agreement is required)	AG Net Lease IV (Q) Corp., AG Net Lease IV Corp. and AG Net Lease Realty Fund IV Investments (H-1), L.P.
25.01	Property		1	15535 South State Avenue
25.02	Property		1	150 Grand Valley Avenue
25.03	Property		1	16052 Industrial Parkway
26	Loan	82, 83	1	Live Nation Downtown LA	NAP	David Bolour
27	Loan		6	Kokot Portfolio	NAP	Arthur Kokot
27.01	Property		1	638-640 East 14th Street
27.02	Property		1	217 East 22nd Street
27.03	Property		1	239 West 15th Street
27.04	Property		1	106 East 7th Street
27.05	Property		1	426 East 77th Street
27.06	Property		1	67 Saint Mark’s Place
28	Loan	84	1	16-18 Squadron Boulevard	NAP	Jack Wercberger
29	Loan	85, 86, 87	1	Expressway Marketplace	Mezz (Max Combined LTV of 62.0%; Min Combined DSCR of 1.90x; Min Combined Debt Yield of 10.25%; Intercreditor Agreement is required)	PWD Holdings, LLC
30	Loan	88	1	7828 Georgia Avenue NW	NAP	Norman Jemal
31	Loan	9, 89	1	141 Livingston	NAP	Clipper Realty Inc. and Clipper Realty L.P.
32	Loan		1	2233 Nostrand Avenue	NAP	Joel Wertzberger, Allan Lebovits and Jacob Tambor
33	Loan	90	3	Birmingham Mixed Use Portfolio	NAP	Hunter Renfroe and John Boone
33.01	Property		1	2014 Morris Avenue
33.02	Property		1	209 41st Street South
33.03	Property		1	1024 20th Street South
34	Loan	91	1	1111 Southern Minerals Road	NAP	Avery Capital Real Estate Fund I, LP
35	Loan	9, 92	1	At Home - Willow Grove	NAP	Ronald J. Oehl
36	Loan		4	VanWest MI Portfolio	NAP	Wade A. Buxton, Jacob A. Vanderslice and Aaron M. Westphal
36.01	Property		1	Shelby
36.02	Property		1	Warren
36.03	Property		1	Rockford
36.04	Property		1	Belmont
37	Loan		2	Teel Plastics Portfolio	NAP	LCN North American Fund III REIT
37.01	Property		1	1060 Teel Court
37.02	Property		1	426 Hitchcock Street
38	Loan		1	Signal Hill Gateway	NAP	William S. Russell
39	Loan	93	1	Rouzan Marketplace	NAP	Spinosa Class Trust, CJS Trust and Joseph T. Spinosa
40	Loan		1	Radiance Technologies	NAP	Allan Adelson
41	Loan		1	475 Grand Street	NAP	Joel Schwartz
42	Loan	94, 95	3	Mile High Multifamily Portfolio	NAP	Maximo Juda
42.01	Property		1	Sunrise Apartments
42.02	Property		1	Olive Tree Apartments
42.03	Property		1	Tangiers Apartments
43	Loan	96	1	Mid Cape Flex	NAP	Douglas Hannah
44	Loan	97	1	500 W Superior	NAP	McLinden Holdings, L.L.C., Jane Slaven, Trustee of the Jane Slaven Revocable Trust
45	Loan		1	PDX Front Ave Industrial	NAP	Bradley Boland Sr. and Dorinda Boland
46	Loan		1	2517 North Ontario	NAP	Shahram Fahimian
47	Loan	98	1	4 Storage - Red Lion	NAP	Susan E. T. Petrone and SETP Revocable Trust

A-1-16

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Non-Recourse Carveout Guarantor	Delaware Statutory Trust (Y/N)	Tenants-in-common (Y/N)	Loan Purpose	Property Located Within a Qualified Opportunity Zone (Y/N)	Sources: Loan Amount ($)	Sources: Principal’s New Cash Contribution ($)
									7		8
1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	Kylli Inc.	No	No	Refinance	No	380,000,000	0

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	John R. Winther and John R. Winther as trustee of The John R. Winther Trust, dated September 20, 2012	No	No	Refinance	No	102,500,000	0
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	KKR Real Estate Select Trust Inc.	No	No	Acquisition	No	234,900,000	152,433,823
4	Loan	26	1	4800-4900 Fournace Place	Danny M. Sheena and Osama Abdullatif	No	No	Refinance	No	56,500,000	0

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	None	No	No	Refinance	No	235,600,000	2,882,061
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	The Related Companies, Inc.	No	No	Acquisition	No	198,520,000	62,659,814
7	Loan	40	1	2600 El Camino Real	SHP Master II, LLC	No	No	Refinance	No	46,350,000	0
8	Loan	41	1	175 Progress Place	Peter Murphy, Matthew O’Connor, Kevin Smith and Jonathan Stott	No	No	Refinance	No	46,000,000	0
9	Loan	42, 43	1	Boston Scientific	New Mountain Net Lease Partners Corporation and New Mountain Net Lease Corporation	No	No	Recapitalization	No	39,725,850	0
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	Abraham Grunhut	No	No	Acquisition	No	55,500,000	27,190,492
11	Loan	47	1	2501 Seaport	Jay Sugarman	No	No	Refinance	Yes	34,000,000	0
12	Loan	48, 49, 50, 51	1	100 Bradley	Steven J. Guttman	No	No	Refinance	No	32,500,000	0
13	Loan	52	1	618 Bushwick	James P. Wiseman and Jacob L. Sacks	No	No	Refinance	No	30,000,000	0
14	Loan		1	Amazon Campbellsville Fulfillment Center	Edmund C. Wideman III, Matthew M. Wideman and Christopher D. Wideman	No	No	Acquisition	Yes	29,250,000	16,136,381
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	Massa Nova GmbH	No	No	Refinance	No	71,000,000	131,104
16	Loan		1	Nautica Pointe	David M. Conwill and Steven B. Kimmelman	No	No	Refinance	No
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers	Azrieli Group Ltd.	No	No	Refinance
17.01	Property		1	Galleria Tower I					No
17.02	Property		1	Galleria Tower II					No
17.03	Property		1	Galleria Financial Center					No
18	Loan	65	1	GE Aviation New Hampshire	Moses Mizrahi	No	No	Refinance	No
19	Loan	66, 67, 68	1	2000 Collins Avenue	Elyahu Cohen, Alexander Smith and Joey Cohen	No	No	Acquisition	No
20	Loan	9, 69	10	U.S. Industrial Portfolio VI	Brennan Management LLC, Michael Brennan, Robert G. Vanecko, Scott D. McKibben, Samuel A. Mandarino, Brad S. O’Halloran, Allen H. Crosswell, W. Troy McMane and Greenwood Holding Company, LLC	No	No	Refinance
20.01	Property		1	True Value					No
20.02	Property		1	Belnick					No
20.03	Property		1	Tufco - 3161 South Ridge Road					No
20.04	Property		1	Pro Con - 109 Maplewood Drive					Yes
20.05	Property		1	Total Logistics					No
20.06	Property		1	Pro Con - 2441 East Glendale Avenue					No
20.07	Property		1	Amaray					No
20.08	Property		1	Pro Con - 2430 East Glendale Avenue					No
20.09	Property	70	1	Tufco - 1205 Burris Road					Yes
20.10	Property		1	Tufco - 1055 Parkview Road					No
21	Loan	9, 71, 72	1	JW Marriott Nashville	Jacquelyn Soffer	No	No	Refinance	No

22	Loan	73	1	The Promontory	Stephen M. Zotovich	No	No	Acquisition	No
23	Loan		1	18 Spencer Street	Pinchos Loketch and Chana Lichtenstein	No	No	Refinance	No
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio	Carlos Ulloa, Debra Corchia, Daniel Statlander and James Capirio	No	No	Recapitalization; Acquisition
24.01	Property	77	1	Boardwalk @ 18th					No
24.02	Property		1	Fountains Center					No
24.03	Property	78	1	City National Park					No
24.04	Property	79, 80	1	Grove Centre					No
25	Loan	9, 81	3	Cabinetworks Portfolio	AG Net Lease IV (Q) Corp., AG Net Lease IV Corp. and AG Net Lease Realty Fund IV Investments (H-1), L.P.	No	No	Acquisition
25.01	Property		1	15535 South State Avenue					No
25.02	Property		1	150 Grand Valley Avenue					No
25.03	Property		1	16052 Industrial Parkway					No
26	Loan	82, 83	1	Live Nation Downtown LA	David Bolour, David Bolour, as Co-Trustee for the OAL Trust dated January 31, 2011, Arezou Derghoff, as Co-Trustee for the OAL Trust dated January 31, 2011, David Dolour, as Co-Trustee for the JLL Trust dated January 31, 2011, Negin Dolour, as Co-Trustee for the JLL Trust dated January 31, 2011, Negin Dolour, as Co-Trustee for the IAB Trust dated August 5, 2011 and Arezou Derghoff, as Co-Trustee for the IAD Trust dated August 5, 2011	No	No	Refinance	No
27	Loan		6	Kokot Portfolio	Arthur Kokot	No	No	Refinance
27.01	Property		1	638-640 East 14th Street					No
27.02	Property		1	217 East 22nd Street					No
27.03	Property		1	239 West 15th Street					No
27.04	Property		1	106 East 7th Street					No
27.05	Property		1	426 East 77th Street					No
27.06	Property		1	67 Saint Mark’s Place					No
28	Loan	84	1	16-18 Squadron Boulevard	Jack Wercberger	No	No	Refinance	No
29	Loan	85, 86, 87	1	Expressway Marketplace	PWD Holdings, LLC	No	No	Refinance	No
30	Loan	88	1	7828 Georgia Avenue NW	Norman Jemal	No	No	Refinance	No
31	Loan	9, 89	1	141 Livingston	Clipper Realty Inc. and Clipper Realty L.P.	No	No	Refinance	No
32	Loan		1	2233 Nostrand Avenue	Joel Wertzberger, Allan Lebovits and Jacob Tambor	No	Yes	Refinance	Yes
33	Loan	90	3	Birmingham Mixed Use Portfolio	Hunter Renfroe and John Boone	No	No	Refinance
33.01	Property		1	2014 Morris Avenue					Yes
33.02	Property		1	209 41st Street South					Yes
33.03	Property		1	1024 20th Street South					Yes
34	Loan	91	1	1111 Southern Minerals Road	Avery Capital Real Estate Fund I, LP	No	No	Acquisition	No
35	Loan	9, 92	1	At Home - Willow Grove	Ronald J. Oehl	No	No	Recapitalization	No
36	Loan		4	VanWest MI Portfolio	Wade A. Buxton, Jacob A. Vanderslice and Aaron M. Westphal	No	No	Acquisition
36.01	Property		1	Shelby					No
36.02	Property		1	Warren					No
36.03	Property		1	Rockford					No
36.04	Property		1	Belmont					No
37	Loan		2	Teel Plastics Portfolio	LCN North American Fund III REIT	No	No	Acquisition
37.01	Property		1	1060 Teel Court					Yes
37.02	Property		1	426 Hitchcock Street					Yes
38	Loan		1	Signal Hill Gateway	William S. Russell	No	No	Acquisition	No
39	Loan	93	1	Rouzan Marketplace	Spinosa Class Trust, CJS Trust and Joseph T. Spinosa	No	No	Refinance	No
40	Loan		1	Radiance Technologies	Allan Adelson	No	No	Acquisition	No
41	Loan		1	475 Grand Street	Joel Schwartz	No	No	Refinance	Yes
42	Loan	94, 95	3	Mile High Multifamily Portfolio	Maximo Juda	No	No	Recapitalization
42.01	Property		1	Sunrise Apartments					No
42.02	Property		1	Olive Tree Apartments					No
42.03	Property		1	Tangiers Apartments					No
43	Loan	96	1	Mid Cape Flex	Douglas Hannah	No	No	Refinance	No
44	Loan	97	1	500 W Superior	McLinden Holdings, L.L.C., Jane Slaven, Trustee of the Jane Slaven Revocable Trust	No	No	Refinance	No
45	Loan		1	PDX Front Ave Industrial	Bradley Boland Sr. and Dorinda Boland	No	No	Refinance	No
46	Loan		1	2517 North Ontario	Shahram Fahimian	No	Yes	Acquisition	No
47	Loan	98	1	4 Storage - Red Lion	Susan E. T. Petrone and SETP Revocable Trust	No	No	Refinance	No

A-1-17

BMARK 2021-B25 Annex A-1

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Sources: Subordinate Debt ($)	Sources: Other Sources ($)	Sources: Total Sources ($)	Uses: Loan Payoff ($)	Uses: Purchase Price ($)	Uses: Closing Costs ($)	Uses: Reserves ($)	Uses: Principal Equity Distribution ($)	Uses: Other Uses ($)	Uses: Total Uses ($)	Franchise Agreement Expiration	Underwritten ADR ($)

1	Loan	9, 10, 11, 12, 13, 14, 15, 16, 17	1	Burlingame Point	370,000,000	0	750,000,000	450,379,085	0	29,007,553	122,730,124	147,883,238	0	750,000,000	NAP	NAP

2	Loan	9, 18, 19, 20	1	SOMA Teleco Office	12,500,000	0	115,000,000	99,806,719	0	2,197,462	1,028,241	11,967,578	0	115,000,000	NAP	NAP
3	Loan	9, 11, 21, 22, 23, 24, 25	1	Amazon Seattle	220,100,000	0	607,433,823	0	579,386,461	6,053,175	21,994,186	0	0	607,433,823	NAP	NAP
4	Loan	26	1	4800-4900 Fournace Place	0	0	56,500,000	27,710,502	0	498,471	2,605,230	25,685,797	0	56,500,000	NAP	NAP

5	Loan	9, 11, 27, 28, 29, 30, 31, 32, 33	1	909 Third Avenue	114,400,000	0	352,882,061	350,000,000	0	2,562,133	319,928	0	0	352,882,061	NAP	NAP
6	Loan	9, 34, 35, 36, 37, 38, 39	1	Phillips Point	30,540,000	0	291,719,814	0	281,850,000	894,772	8,975,042	0	0	291,719,814	NAP	NAP
7	Loan	40	1	2600 El Camino Real	0	0	46,350,000	32,987,313	0	274,169	2,979,976	10,108,542	0	46,350,000	NAP	NAP
8	Loan	41	1	175 Progress Place	0	0	46,000,000	37,000,533	0	787,711	2,939,318	5,272,438	0	46,000,000	NAP	NAP
9	Loan	42, 43	1	Boston Scientific	0	0	39,725,850	0	0	279,706	0	39,446,144	0	39,725,850	NAP	NAP
10	Loan	9, 11, 44, 45, 46	1	1985 Marcus	0	0	82,690,492	0	75,000,000	888,441	6,802,051	0	0	82,690,492	NAP	NAP
11	Loan	47	1	2501 Seaport	0	0	34,000,000	12,952,461	0	3,271,255	1,446,798	16,329,485	0	34,000,000	NAP	NAP
12	Loan	48, 49, 50, 51	1	100 Bradley	0	0	32,500,000	7,017,496	0	876,345	1,143,288	23,462,871	0	32,500,000	NAP	NAP
13	Loan	52	1	618 Bushwick	0	0	30,000,000	25,551,553	0	2,695,998	51,237	1,701,212	0	30,000,000	NAP	NAP
14	Loan		1	Amazon Campbellsville Fulfillment Center	0	1,708,605	47,094,986	0	45,000,000	1,166,376	928,610	0	0	47,094,986	NAP	NAP
15	Loan	9, 53, 54, 55, 56	1	30 Hudson Yards 67	0	0	71,131,104	64,753,928	0	1,267,282	5,109,895	0	0	71,131,104	NAP	NAP
16	Loan		1	Nautica Pointe											NAP	NAP
17	Loan	9, 57, 58, 59, 60, 61, 62, 63, 64	3	The Galleria Office Towers											NAP	NAP
17.01	Property		1	Galleria Tower I											NAP	NAP
17.02	Property		1	Galleria Tower II											NAP	NAP
17.03	Property		1	Galleria Financial Center											NAP	NAP
18	Loan	65	1	GE Aviation New Hampshire											NAP	NAP
19	Loan	66, 67, 68	1	2000 Collins Avenue											NAP	NAP
20	Loan	9, 69	10	U.S. Industrial Portfolio VI											NAP	NAP
20.01	Property		1	True Value											NAP	NAP
20.02	Property		1	Belnick											NAP	NAP
20.03	Property		1	Tufco - 3161 South Ridge Road											NAP	NAP
20.04	Property		1	Pro Con - 109 Maplewood Drive											NAP	NAP
20.05	Property		1	Total Logistics											NAP	NAP
20.06	Property		1	Pro Con - 2441 East Glendale Avenue											NAP	NAP
20.07	Property		1	Amaray											NAP	NAP
20.08	Property		1	Pro Con - 2430 East Glendale Avenue											NAP	NAP
20.09	Property	70	1	Tufco - 1205 Burris Road											NAP	NAP
20.10	Property		1	Tufco - 1055 Parkview Road											NAP	NAP
21	Loan	9, 71, 72	1	JW Marriott Nashville											7/1/2048	295.53

22	Loan	73	1	The Promontory											NAP	NAP
23	Loan		1	18 Spencer Street											NAP	NAP
24	Loan	9, 74, 75, 76	4	Boca Office Portfolio											NAP	NAP
24.01	Property	77	1	Boardwalk @ 18th											NAP	NAP
24.02	Property		1	Fountains Center											NAP	NAP
24.03	Property	78	1	City National Park											NAP	NAP
24.04	Property	79, 80	1	Grove Centre											NAP	NAP
25	Loan	9, 81	3	Cabinetworks Portfolio											NAP	NAP
25.01	Property		1	15535 South State Avenue											NAP	NAP
25.02	Property		1	150 Grand Valley Avenue											NAP	NAP
25.03	Property		1	16052 Industrial Parkway											NAP	NAP
26	Loan	82, 83	1	Live Nation Downtown LA											NAP	NAP
27	Loan		6	Kokot Portfolio											NAP	NAP
27.01	Property		1	638-640 East 14th Street											NAP	NAP
27.02	Property		1	217 East 22nd Street											NAP	NAP
27.03	Property		1	239 West 15th Street											NAP	NAP
27.04	Property		1	106 East 7th Street											NAP	NAP
27.05	Property		1	426 East 77th Street											NAP	NAP
27.06	Property		1	67 Saint Mark’s Place											NAP	NAP
28	Loan	84	1	16-18 Squadron Boulevard											NAP	NAP
29	Loan	85, 86, 87	1	Expressway Marketplace											NAP	NAP
30	Loan	88	1	7828 Georgia Avenue NW											NAP	NAP
31	Loan	9, 89	1	141 Livingston											NAP	NAP
32	Loan		1	2233 Nostrand Avenue											NAP	NAP
33	Loan	90	3	Birmingham Mixed Use Portfolio											NAP	NAP
33.01	Property		1	2014 Morris Avenue											NAP	NAP
33.02	Property		1	209 41st Street South											NAP	NAP
33.03	Property		1	1024 20th Street South											NAP	NAP
34	Loan	91	1	1111 Southern Minerals Road											NAP	NAP
35	Loan	9, 92	1	At Home - Willow Grove											NAP	NAP
36	Loan		4	VanWest MI Portfolio											NAP	NAP
36.01	Property		1	Shelby											NAP	NAP
36.02	Property		1	Warren											NAP	NAP
36.03	Property		1	Rockford											NAP	NAP
36.04	Property		1	Belmont											NAP	NAP
37	Loan		2	Teel Plastics Portfolio											NAP	NAP
37.01	Property		1	1060 Teel Court											NAP	NAP
37.02	Property		1	426 Hitchcock Street											NAP	NAP
38	Loan		1	Signal Hill Gateway											NAP	NAP
39	Loan	93	1	Rouzan Marketplace											NAP	NAP
40	Loan		1	Radiance Technologies											NAP	NAP
41	Loan		1	475 Grand Street											NAP	NAP
42	Loan	94, 95	3	Mile High Multifamily Portfolio											NAP	NAP
42.01	Property		1	Sunrise Apartments											NAP	NAP
42.02	Property		1	Olive Tree Apartments											NAP	NAP
42.03	Property		1	Tangiers Apartments											NAP	NAP
43	Loan	96	1	Mid Cape Flex											NAP	NAP
44	Loan	97	1	500 W Superior											NAP	NAP
45	Loan		1	PDX Front Ave Industrial											NAP	NAP
46	Loan		1	2517 North Ontario											NAP	NAP
47	Loan	98	1	4 Storage - Red Lion											NAP	NAP

A-1-18

BMARK 2021-B25 Annex A-1

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Underwritten RevPAR ($)

Underwritten Hotel Occupancy (%)

Most Recent ADR ($)

Most Recent RevPAR ($)

Most Recent Hotel Occupancy (%)

Second Most Recent ADR ($)

Second Most Recent RevPAR ($)

Second Most Recent Hotel Occupancy (%)

Third Most Recent ADR ($)

Third Most Recent RevPAR ($)

Third Most Recent Hotel Occupancy (%)

Loan

9, 10, 11, 12, 13, 14, 15, 16, 17

Burlingame Point

NAP

Loan

9, 18, 19, 20

SOMA Teleco Office

NAP

Loan

9, 11, 21, 22, 23, 24, 25

Amazon Seattle

NAP

Loan

4800-4900 Fournace Place

NAP

Loan

9, 11, 27, 28, 29, 30, 31, 32, 33

909 Third Avenue

NAP

Loan

9, 34, 35, 36, 37, 38, 39

Phillips Point

NAP

Loan

2600 El Camino Real

NAP

Loan

175 Progress Place

NAP

Loan

42, 43

Boston Scientific

NAP

Loan

9, 11, 44, 45, 46

1985 Marcus

NAP

Loan

2501 Seaport

NAP

Loan

48, 49, 50, 51

100 Bradley

NAP

Loan

618 Bushwick

NAP

Loan

Amazon Campbellsville Fulfillment Center

NAP

Loan

9, 53, 54, 55, 56

30 Hudson Yards 67

NAP

Loan

Nautica Pointe

NAP

Loan

9, 57, 58, 59, 60, 61, 62, 63, 64

The Galleria Office Towers

NAP

17.01

Property

Galleria Tower I

NAP

17.02

Property

Galleria Tower II

NAP

17.03

Property

Galleria Financial Center

NAP

Loan

GE Aviation New Hampshire

NAP

Loan

66, 67, 68

2000 Collins Avenue

NAP

Loan

9, 69

U.S. Industrial Portfolio VI

NAP

20.01

Property

True Value

NAP

20.02

Property

Belnick

NAP

20.03

Property

Tufco - 3161 South Ridge Road

NAP

20.04

Property

Pro Con - 109 Maplewood Drive

NAP

20.05

Property

Total Logistics

NAP

20.06

Property

Pro Con - 2441 East Glendale Avenue

NAP

20.07

Property

Amaray

NAP

20.08

Property

Pro Con - 2430 East Glendale Avenue

NAP

20.09

Property

Tufco - 1205 Burris Road

NAP

20.10

Property

Tufco - 1055 Parkview Road

NAP

Loan

9, 71, 72

JW Marriott Nashville

253.69

85.8%

211.99

39.10

18.4%

294.74

251.86

85.5%

NAV

Loan

The Promontory

NAP

Loan

18 Spencer Street

NAP

Loan

9, 74, 75, 76

Boca Office Portfolio

NAP

24.01

Property

Boardwalk @ 18th

NAP

24.02

Property

Fountains Center

NAP

24.03

Property

City National Park

NAP

24.04

Property

79, 80

Grove Centre

NAP

Loan

9, 81

Cabinetworks Portfolio

NAP

25.01

Property

15535 South State Avenue

NAP

25.02

Property

150 Grand Valley Avenue

NAP

25.03

Property

16052 Industrial Parkway

NAP

Loan

82, 83

Live Nation Downtown LA

NAP

Loan

Kokot Portfolio

NAP

27.01

Property

638-640 East 14th Street

NAP

27.02

Property

217 East 22nd Street

NAP

27.03

Property

239 West 15th Street

NAP

27.04

Property

106 East 7th Street

NAP

27.05

Property

426 East 77th Street

NAP

27.06

Property

67 Saint Mark’s Place

NAP

Loan

16-18 Squadron Boulevard

NAP

Loan

85, 86, 87

Expressway Marketplace

NAP

Loan

7828 Georgia Avenue NW

NAP

Loan

9, 89

141 Livingston

NAP

Loan

2233 Nostrand Avenue

NAP

Loan

Birmingham Mixed Use Portfolio

NAP

33.01

Property

2014 Morris Avenue

NAP

33.02

Property

209 41st Street South

NAP

33.03

Property

1024 20th Street South

NAP

Loan

1111 Southern Minerals Road

NAP

Loan

9, 92

At Home - Willow Grove

NAP

Loan

VanWest MI Portfolio

NAP

36.01

Property

Shelby

NAP

36.02

Property

Warren

NAP

36.03

Property

Rockford

NAP

36.04

Property

Belmont

NAP

Loan

Teel Plastics Portfolio

NAP

37.01

Property

1060 Teel Court

NAP

37.02

Property

426 Hitchcock Street

NAP

Loan

Signal Hill Gateway

NAP

Loan

Rouzan Marketplace

NAP

Loan

Radiance Technologies

NAP

Loan

475 Grand Street

NAP

Loan

94, 95

Mile High Multifamily Portfolio

NAP

42.01

Property

Sunrise Apartments

NAP

42.02

Property

Olive Tree Apartments

NAP

42.03

Property

Tangiers Apartments

NAP

Loan

Mid Cape Flex

NAP

Loan

500 W Superior

NAP

Loan

PDX Front Ave Industrial

NAP

Loan

2517 North Ontario

NAP

Loan

4 Storage - Red Lion

NAP

A-1-19

Footnotes to Annex A-1

(1)	The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC^® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan.

(2)	The Monthly Debt Service (P&I) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period.

(3)	The open period is inclusive of the Maturity Date or Anticipated Repayment Date.

(4)	Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) is calculated based on amortizing debt service payments (except for interest-only loans).

(5)	Leased Occupancy (%) reflects tenants that have signed leases, but are not yet in occupancy or may not be paying rent.

(6)	The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease the leased premises and be released from its obligations under the lease.

(7)	Property Located Within a Qualified Opportunity Zone (Y/N) reflects Mortgaged Properties that are located in qualified opportunity zones (“QOZs”) under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ.

(8)	If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field “Sources: Principal’s New Cash Contribution ($)” reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field “Sources: Principal’s New Cash Contribution ($)” reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated.

(9)	The Mortgage Loan is part of a whole loan structure. Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan Per Unit ($) calculations are based on the Mortgage Loan and any related Pari Passu Companion Loans, if applicable, but exclude any related Subordinate Companion Loans.

(10)	The Burlingame Point Whole Loan was co-originated by Goldman Sachs Bank USA, DBR Investments Co. Limited and JPMorgan Chase Bank, National Association.

(11)	The lockout period will be at least 24 payment dates beginning with and including the First Payment Date in May 2021. For the purpose of this prospectus, the assumed lockout period of 24 payment dates is based on the expected Benchmark 2021-B25 securitization closing date in April 2021. The actual lockout period may be longer.

(12)	Commencing on the Anticipated Repayment Date, the interest rate will increase to a per annum rate equal to 200 basis points plus the greater of (x) 3.01680% (the assumed initial interest rate) or (y) the then prevailing yield on the offer side swap rate with terms most nearly approximating those having maturities as close as possible to the Final Maturity Date plus 123 basis points.

(13)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are calculated utilizing the “Hypothetical Market Value As If Stabilized” appraised value of $1,000,000,000 as of January 14, 2021, which assumes that the outstanding leasing costs, construction costs, gap rent and rent abatement are paid/accrued, and that the rent commencement date for Building 3, Building 4 and the Amenity Space is February 1, 2021. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) calculated based on the “as-is” appraised value of $900,000,000, as of January 14, 2021, are both 42.2%.

A-1-20


(14)	The Burlingame Point Whole Loan documents provide the borrower with one five-day grace period in any 12-month period for any payments due on a payment date.

(15)	The sole tenant, Facebook, has executed a lease for the Mortgaged Property and is currently building out its space, but has not yet taken occupancy or begun paying rent. It is expected that Facebook could take occupancy of each building and the Amenity Space in approximately June 2021. Facebook is expected to begin paying rent on Building 1, Building 2, Building 3, Building 4, and the Amenity Space on July 11, 2021, January 11, 2022, May 8, 2022, November 7, 2022 and November 7, 2021, respectively. In addition, Facebook has been granted a rent credit in the total amount of $7,731,750. Facebook’s lease commenced with respect to Building 1 and Building 2 in November 2020 and is expected to commence with respect to Building 3, Building 4 and the Amenity Space in April 2021. We cannot assure you that Facebook’s lease will commence, or that it will occupy its space, open for business or begin paying rent as expected or at all.

(16)	The California State Lands Commission leases to the borrower rights of way over three parcels that are adjacent to the Burlingame Point Mortgaged Property and are expected to contain certain public improvements. If the California State Lands Commission consents, then the borrower’s leasehold interest in these rights of way will become collateral for the Burlingame Point Whole Loan. These leasehold interests were given no value for purposes of underwriting and the Appraised Value.

(17)	The mezzanine loan was funded by Athene Annuity and Life Company. The mezzanine loan is structured with a three-year interest-only period followed by a 6.25-year fixed amortization schedule. The amortization will include a base amortization and rent step amortization component. The rent step amortization requires all future rent increases above year 1 to be used to pay down the mezzanine loan, resulting in a balloon balance of zero at the anticipated repayment date. Annual debt service for the Total Debt Underwritten NCF DSCR (x) is calculated based on the sum of (x) with respect to the Burlingame Point Whole Loan, the interest-only annual debt service and (y) with respect to the mezzanine loan, the sum of the first 12 principal and interest payments following the initial three-year interest-only period. The Total Debt Monthly Debt Service ($) is calculated as the annual debt service described above divided by 12.

(18)	The SOMA Teleco Office Property is a 110,717 SF creative office and telecom building located at 274 Brannan Street in San Francisco, California. The SOMA Teleco Office Property consists of data center space (60,394 SF, 57.2% of underwritten base rent), office space (47,743 SF, 38.8% of underwritten base rent) and meet-me-room space (2,580 SF, 4.0% of underwritten base rent).

(19)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are calculated on the basis of the “As-is Excluding Impact of VZ Purchase Option” value of $155.0 million as of January 21, 2021, which assumes the Verizon Tenant does not exercise its option to acquire the SOMA Teleco Office Property. The appraisal concluded to an “As-is” value of $140.0 million, which factors in the Verizon Tenant’s purchase option to acquire the SOMA Teleco Office Property at a fixed purchase price of $140.0 million. MCI Communications Services LLC, one of two affiliated entities comprising the Verizon Tenant, has the option to purchase the entire Mortgaged Property for $140.0 million for (i) a 24-month period commencing on April 1, 2021, or (ii) if the full and final resolution of the litigation between landlord and Fortress SF1, LLC has not occurred prior to October 1, 2022, a six-month period commencing on the final resolution date. The “As-is” value results in a Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) of 73.2% for the SOMA Teleco Office Loan and a Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) of 82.1% for the SOMA Teleco Office Whole Loan.

(20)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) is a result of recent leasing at the SOMA Teleco Office Property including (i) the extension and expansion of the Verizon Tenant lease and (ii) the underwriting of $961,758 in straight line rent steps for the Verizon Tenant and Adyen.

(21)	The Amazon Seattle Whole Loan is structured with an Anticipated Repayment Date (“ARD”) of April 6, 2030 and a final maturity date of May 6, 2033. After the ARD, the interest rate will increase by 250 basis points over the greater of (x) 3.004833%, and (y) (1) the Nine-Year Swap Rate (as defined in Annex A-3 in this prospectus) in effect on the ARD plus (2) 1.357833%.

(22)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are calculated on the basis of the “Hypothetical As-is” value of $670.0 million as of March 4, 2021, which assumes the building is stabilized as of the effective date with all remaining lease-up costs for the Amazon.com Services LLC expansion space and the retail spaces paid. The appraisal concluded to an “As-is” value of $644.0 million as of March 4, 2021. The “As-is” value results in a Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) of 60.6% for the Amazon Seattle Whole Loan, and a Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) of 70.7% for the Amazon Seattle Total Debt.

A-1-21


(23)	The TI/LC Cap ($) is equal to the product of (x) $75.00 multiplied by (y) the aggregate number of rentable SF.

(24)	Commencing in 2015, the Mortgaged Property has undergone an extensive redevelopment from a department store to an office building by the seller of the Mortgaged Property. As of origination, certain portions of the redevelopment, consisting of the new lobby and the level one premises, together totaling 23,578 square feet (3.0% of total net rentable area), which are leased to the largest tenant, Amazon.com Services LLC, have not been completed. The Amazon.com Services LLC lease specifies required dates for (i) delivery of each phase of space in accordance with specified requirements, generally with landlord work sufficiently completed to allow for the construction of tenant’s improvements without material interference from landlord or landlord’s contractors (“Delivered”) and (ii) completion of each space in accordance with specified requirements, generally with landlord work completed and with a temporary or permanent certificate of occupancy or legal equivalent (“Completed”). Amazon.com Services LLC will be entitled to credits against its rent in the amount of one day of base rent for the applicable space for each day of delay for the first 45 days, and two days of base rent for the applicable space for each day of delay thereafter, (i) if the new lobby is not Delivered to it by November 30, 2021 (and a 90-day delivery notice has been sent to Amazon.com Services LLC with anticipated Delivery of the new lobby space by June 14, 2021), and (ii) if the new lobby is not Completed by August 15, 2021 or the level one space is not Completed by July 15, 2021. Amazon.com Services LLC has the right to terminate the new lobby space if either it is not Delivered or it is not Completed by February 28, 2022. The level one space is Delivered and no termination option remains for Delivery; however, Amazon.com Services LLC has the right to terminate the level one space if not Completed by January 31, 2022. In addition, Amazon.com Services LLC has not yet taken occupancy of its Phase III space (approximately 198,056 square feet), and has free or gap rent for various portions of its leased space through dates ranging from August 6, 2021 to February 6, 2022, which has been reserved for under the loan documents. We cannot assure you that the remaining Phase III space will be delivered as expected or at all, or that Amazon.com Services LLC will take occupancy and/or pay rent on the applicable space as expected or at all.

(25)	Due to its designation as a historic landmark, the Mortgaged Property is also eligible to receive real estate tax credits for capital projects with qualified rehabilitation costs exceeding 25% of the current assessed value for a period of 10 years. The Mortgage Loan was underwritten based on the estimated real estate taxes in the borrower sponsor’s Year 1 Budget of $1,689,072, which is net of estimated tax credits of $1,605,470.

(26)	The Largest Tenant, Harris Health, representing approximately 58.2% of the net rentable area, has the right to (i) terminate its lease at any time after December 31, 2027 with at least six months’ prior written notice and payment of a termination fee and (ii) contract its space by up to 25% at any time after December 31, 2023 with at least six months’ prior written notice and payment of a termination fee. In addition, Harris Health has the right to terminate its lease at any time with at least four months’ prior written notice and payment of a termination fee if its related board of trustees or the Commissioners Court of Harris County determines, in their sole discretion, not to approve funding for Harris Health’s obligations under its related lease for the upcoming lease year.

(27)	The Largest Tenant at the 909 Third Avenue Mortgaged Property, USPS, lease expiration date is based on the assumption that USPS continues to exercise its remaining three, 5-year lease extension options through October 10, 2038. There is no assurance that USPS will in fact extend its lease through October 10, 2038 and it is not obligated to do so.

(28)	The Appraised Value ($) of the 909 Third Avenue Mortgaged Property assumes that USPS (which has three, 5-year renewal options remaining under its lease) extends the term of its current lease through October 10, 2038. The appraiser also provided a hypothetical value of $860,000,000 ($637 per SF) with a valuation date of March 1, 2021 which assumes USPS vacates after its current lease expiration date in October 2023 (the “Appraised Value Assuming USPS Vacates in 2023”).

(29)	The Second Largest Tenant at the 909 Third Avenue Mortgaged Property, IPG DXTRA, Inc., subleases a portion of the 20th floor and the entire 23rd, 24th and 25th floors (105,295 SF) from Allergan Sales, LLC (as successor by merger to Forest Laboratories) through January 2027.

(30)	The Second Largest Tenant at the 909 Third Avenue Mortgaged Property, IPG DXTRA, Inc., has a one-time right to terminate its lease on November 1, 2023 with 18 months’ notice and payment of a termination fee (estimated at approximately $20.4 million). Such termination would constitute the occurrence of a Specified Tenant Trigger under the Mortgage Loan documents. In addition, IPG DXTRA, Inc. has a one-time contraction option to reduce its leased space by 20,000 SF on March 1, 2024 with 12 months’ notice with payment of a contraction fee (estimated at approximately $1.7 million).

(31)	The Fourth Largest Tenant at the 909 Third Avenue Mortgaged Property, Geller & Company, subleases a portion of the 15th floor (9,343 SF) to Pizzarotta IBC.

A-1-22


(32)	The Fourth Largest Tenant at the 909 Third Avenue Mortgaged Property, Geller & Company, has the right to contract its lease for either the entirety of Floor 16 or portions thereof and either the entirety of Floor 17 or portions thereof at any time on or after April 30, 2017.

(33)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 909 Third Avenue Mortgaged Property can be attributed to recent leasing.

(34)	The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are calculated utilizing the “Hypothetical As Is” appraised value of $289,000,000 as of December 15, 2020, which assumes that an additional $6.65 million would be reserved by the borrower sponsor at origination for future tenant improvement allowances and leasing commissions. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) calculated based on the “as-is” appraised value of $282,000,000, as of December 15, 2020, are both 70.4%.

(35)	The Phillips Point Whole Loan documents provide the borrower with one five-day grace period in any 12-month period for any payments due on a payment date (other than the maturity date).

(36)	The Second Largest Tenant, Akerman, Senterfitt & Eidson, representing approximately 10.8% of the net rentable area, has two, one-time rights to reduce its premises and/or terminate its lease with respect to the entire premises effective October 31, 2023 or April 30, 2026, with nine months’ prior notice and payment of a reduction or termination fee.

(37)	The Third Largest Tenant, Affiliated Managers Group (AMG), representing approximately 8.6% of the net rentable area, has executed a lease and is currently paying rent on 15,176 SF of its space, but does not occupy the space. We cannot assure you that Affiliated Managers Group (AMG) will take occupancy as expected or at all.

(38)	The Fourth Largest Tenant, Greenberg Traurig, representing approximately 6.7% of the net rentable area, subleases 2,796 SF to Frankel Loughran Starr & Vallone LLP on a 24-month term through May 2021 at $34.00 per SF.

(39)	On each payment date, if and to the extent the amount contained in the TI/LC reserve account is less than $6,650,000, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to approximately $18,704.

(40)	With respect to the 2600 El Camino Real Mortgage Loan, an affiliate of the borrower, Sand Hill Property Co., is the Second Largest Tenant at the Mortgaged Property, leasing approximately 16.9% of the net rentable area at the Mortgaged Property as the headquarters for its real estate development and management firm.

(41)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 175 Progress Place Mortgaged Property is primarily attributable to the rent commencement of General Electric Aviation’s phase two space on May 1, 2021, contractual rent steps and potential income from vacant space.

(42)	The Boston Scientific Loan proceeds were used to return equity to the borrower following its February 2021 acquisition of the Mortgaged Property and pay origination costs. The borrower closed on the acquisition of the Mortgaged Property for approximately $61.12 million on February 5, 2021, and when combined with closing costs of $279,706, the borrower’s remaining cash equity is approximately $21,390,829.

(43)	The sole tenant, Boston Scientific, benefits from a 10-year tax abatement on a new office building, and other improvements at the Mortgaged Property, which is subject to clawback provisions in certain circumstances. No real estate taxes were underwritten as the sole tenant is required to pay real estate taxes under its lease.

(44)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to the inclusion of Integra MLTC, Inc. ($1,246,471 in underwritten base rent) and Edgeworks ($339,900 in underwritten base rent). Furthermore, the higher Underwritten Net Operating Income ($) stems from contractual rent steps taken through April 30, 2022 and the present value of contractual rent step increments over the remainder of the JPMorgan Chase and NSLIJ (Northwell) lease terms.

(45)	The Largest Tenant, JPMorgan Chase, representing approximately 24.4% of the net rentable area, leases 55,445 SF expiring on October 31, 2030 and 20,681 SF expiring on July 31, 2025. In addition, JPMorgan Chase has the right to terminate its lease effective on May 1, 2027 with 12 months’ prior notice and payment of a termination fee. The Second Largest Tenant, Integra MLTC, Inc., representing approximately 12.3% of the net rentable area, has the right to terminate its lease effective at any time after August 31, 2028 with at least 12 months’ prior written notice. The Fifth Largest Tenant, PharMerica Corporation, representing approximately 7.2% of the net rentable area, has the right to terminate its lease effective on the last day of the 94th month following the related lease commencement date (which was on June 1, 2020) with at least 12 months’ prior written notice.

A-1-23


(46)	On each payment date, if and to the extent the amount contained in the TI/LC reserve account is less than approximately $1,170,788, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to approximately $32,522.

(47)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 2501 Seaport Mortgaged Property is primarily attributable to contractual rent steps, and potential income from vacant space.

(48)	The Mortgaged Property was built in 1983 and 2003, and went through renovations in phases from 2017-2018. The property contains both private art storage facilities and managed art storage facilities.

(49)	The Mortgaged Property is comprised of 59,860 square feet of private art storage (which is approximately 82.0% leased as of the March 12, 2021 appraisal), 474,352 cubic feet of managed art storage (which is approximately 43.5% leased as of the March 12, 2021 appraisal) and a 600 square foot viewing room. The Number of Units represents the total SF of net rentable area. Occupancy of 83.7% represents the occupancy percentage for the private storage space (measured in SF). The managed storage space is measured in cubic feet and as of the January 19, 2021 underwritten rent roll, is 43.1% leased.

(50)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) is a result of additional lease up and stabilization of the Mortgaged Property. Since November 2019, approximately 28 leases totaling 11,395 SF (approximately 19.0% of private storage net rentable area) have been signed at rents of between $36.58 PSF and $90.49 PSF, compared to rents when the Mortgaged Property first began lease up in March 2017 at $39.05 PSF. In addition, the borrower initially had a ground leasehold interest in the Mortgaged Property, but purchased the fee interest as part of a 1031 exchange in December 2020. As of the trailing 12-month period ending on November 30, 2020, the ground lease expense was $762,275.

(51)	At origination, the borrower deposited an amount of $213,011 into a Fortress Reimbursement Reserve to be held as additional collateral for the loan and to be disbursed to the borrower in order to reimburse an affiliate for payments made under a profit sharing arrangement related to the transfer to the Mortgaged Property of art storage tenants from a Fortress art storage facility.

(52)	The borrower benefits from a partial tax exemption pursuant to Section 421-a under the Affordable New York Housing Program, Option C (the “421-a Exemption Program”). Pursuant to the 421-a Exemption Program, 64 units are rent stabilized and, of the 64 rent stabilized units, 34 are considered “Market Rate (RS)” and 30 are rent stabilized into perpetuity as a part of the program. The 421-a Exemption Program commenced in 2017 and is scheduled to expire in 2052. During the term of the Mortgage Loan, the amount of annual tax savings from 421-a ranges from $597,249, representing approximately 88% tax savings (2020/21 tax year), to $748,638, representing approximately 87% tax savings (2027/28 tax year). The real estate taxes were underwritten based on the abated tax amount. Please see “Descriptions of the Mortgage Pool—Real Estate and Other Tax Considerations” and “Description of the Mortgage Pool—Mortgage Pool Characteristics—Property Types—Mixed-Use Properties” in this prospectus for additional information.

(53)	The Appraised Value ($),Cut-off Date LTV Ratio (%), and LTV Ratio at Maturity / ARD (%) are based on the “Hypothetical Value: Escrow Tenant Improvements” of $110,000,000 effective February 1, 2021, which assumes that the outstanding tenant improvement costs of $4,799,293 associated with the existing lease will be placed into an escrow account. On the Origination Date, the borrower reserved $4,799,293 for outstanding tenant improvements and leasing commissions. Based on the “As-Is” appraised value of $105,000,000 effective February 1, 2021, the Cut-off Date LTV Ratio (%), and LTV Ratio at Maturity / ARD (%) are 67.6%.

(54)	The borrower owns the fee interest in the Mortgaged Property. However, to obtain the New York City real estate tax exemption and the payment-in-lieu of taxes (“PILOT”) benefits, the borrower has leased the Mortgaged Property to the New York City Industrial Development Agency, which has subleased the Mortgaged Property back to the borrower under an agency lease, which obligates borrower to make PILOT payments. The PILOT commenced in the 2019/20 tax year and is scheduled to expire after the tax year 2038/39. The real estate taxes were underwritten based on the abated tax amount. See “Description of the Mortgage Pool—Real Estate and Other Tax Considerations” in this prospectus for additional information.

(55)	The related Mortgaged Property is subject to a condominium declaration that governs eight condominium units. The borrower is entitled to approximately 1.6% of voting rights and does not have control of the condominium board or any blocking rights with respect to for certain major decisions, such as unit removals and use of proceeds in connection with casualty or condemnation proceedings. However, the condominium policy prohibits implementation of any policies that would have disproportionately negative impacts any unit owners. In addition, the borrower has provided a non-recourse carveout for any losses associated with, among other things, the withdrawal of the unit comprising the mortgaged property from the condominium regime or termination of the

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	condominium regime. Please see “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests” in this prospectus for additional information.

(56)	Related Companies L.P., the sole tenant at the mortgaged property with a lease expiration date of February 28, 2039, is subleasing its entire premises to Facebook, Inc. whose sublease expires in June 30, 2024.

(57)	The Galleria Office Towers mortgage loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and JPMorgan Chase Bank, National Association.

(58)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the Galleria Financial Center Mortgaged Property is primarily attributable to the inclusion of potential income from vacant space, which was underwritten per the appraiser’s concluded market rent for each vacant space.

(59)	The Galleria Office Towers Mortgaged Properties are subject to a condominium regime with six total condominium units (for all purposes under the condominium documents), three of which constitute the entirety of the collateral, and three of which are not part of the collateral. There are six board seats, and the borrower is allocated three of the board seats. Please see “Description of the Mortgage Pool—Mortgage Pool Characteristics—Condominium and Other Shared Interests” in this prospectus for additional information.

(60)	The Largest Tenant at the Galleria Tower II Mortgaged Property, Quanta Services, subleases 56,345 SF from Panhandle Eastern Pipe Line Company, L.P.

(61)	The Second Largest Tenant at the Galleria Financial Center Mortgaged Property, Southwest Risk, LP, subleases 7,775 SF to Big Data Energy Services, Inc.

(62)	The Second Largest Tenant at the Galleria Tower I Mortgaged Property, Citigroup Technology has a one-time right to terminate either 100.0% or up to 50.0% of its space on June 30, 2025 upon 12 months’ written notice to the landlord and payment of an early termination fee.

(63)	The Third Largest Tenant at the Galleria Tower II Mortgaged Property, Kane Russell Coleman & Logan PC, subleases 18,687 SF from Panhandle Eastern Pipe Line Company, L.P.

(64)	The Fourth Largest Tenant at the Galleria Tower I Mortgaged Property, BKD, LLP, has a one-time right to contract up to the entirety of the 14th floor (9,440 SF) effective as of April 30, 2024.

(65)	On each payment date during a Trigger Period or Event of Default and, in any event, beginning on the payment date in May 2026, the borrower is required to deposit into the TI/LC reserve account a Monthly TI/LC Reserve ($) amount equal to $13,122.

(66)	For every 12 month period, the borrower has a one-time 5-day Grace Period to cure an event of default caused by the failure to pay the Monthly Debt Service (IO) ($) or deposit into the reserve funds, provided that the lender is not required to provide notice of such delinquent payments.

(67)	The Most Recent EGI ($) and the Most Recent NOI ($) are based on contractual rents and do not reflect rent abatements and/or deferrals that were actually granted in connection with COVID-19.

(68)	Jones Lange LaSalle Americas, Inc. is the sub-property manager of the Mortgaged Property.

(69)	The Replacement Reserve Cap ($) is equal to the product of (x) $0.10 multiplied by (y) the aggregate number of rentable SF then contained in the mortgaged properties multiplied by (z) three. The TI/LC Cap ($) is equal to the product of (x) $0.20 multiplied by (y) the aggregate number of rentable SF then contained in the mortgaged properties multiplied by (z) three. As of the Cut-off Date, the aggregate number of rentable SF is 2,981,955.

(70)	The sole tenant, Tufco, is currently dark. Tufco is expected to continue paying full rent until the end of its lease term in July 2037. We cannot assure you that Tufco will continue paying rent as expected or at all.

(71)	The increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily attributable to underwriting stabilized hotel operations pre-COVID-19 as of the trailing 12-month period ending on January 31, 2020. The latest trailing 12-month period ending on March 31, 2021 reflects the months heavily impacted by COVID-19. Additionally, the borrower sponsor has posted an 18-month debt service reserve equal to $8,831,707, which will be applied to monthly debt service payments through March 2022.

(72)	The Monthly Replacement / FF&E Reserve ($) is an FF&E reserve in an amount equal to (i) for the payment dates through and including July 2023, 3% of the gross revenues of the mortgaged property for the prior calendar month and (ii) thereafter, 4% of the gross revenues of the mortgaged property for the prior calendar month.

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(73)	The Mortgage Loan documents limit the fees, costs and expenses to be paid or reimbursed by the borrower in connection with the review and approval or disapproval of each disbursement request for disbursements of the replacement reserve funds, rollover funds and required repair funds to $500 (excluding joint check fees).

(74)	The Boca Office Portfolio mortgage loan is part of a whole loan that was co-originated by Citi Real Estate Funding Inc. and Bank of America, N.A.

(75)	The Appraised Value ($) represents the “portfolio appraised value”, which attributes a premium to the aggregate value of the mortgaged properties as a whole. Based on the sum of the individual appraised values of the mortgaged properties, the Appraised Value would be $150,700,000, which results in a Mortgage Loan Cut-off Date LTV Ratio (%) and Mortgage Loan LTV Ratio at Maturity / ARD (%) of 65.7%.

(76)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the Boca Office Portfolio Mortgaged Properties is primarily attributable to unrealized rent accounting for new tenants occupying space, rent abatement expiration, contractual rent steps, and potential income from vacant space.

(77)	The Second Largest Tenant at the Boardwalk @ 18th Mortgaged Property, Carraba’s Tropical Coast, commencing May 1, 2021, if sales from the mortgaged property fall below $2,500,000 for the prior trailing twelve-month period, may terminate its lease by written notice to landlord. The lease will terminate 30 days after tenant’s exercise of the early termination option.

(78)	The Fourth Largest Tenant at the City National Park Mortgaged Property, Harbinger Capital Group, will have the right to terminate its lease on 60 days prior notice to the landlord.

(79)	The Second Largest Tenant at the Grove Centre Mortgaged Property, Kabbalah Center, the landlord agrees that no part of the center and no part of the mortgaged property will be used for a spiritual center, or religious institution or any other similar type of business service and landlord will not execute any lease in the center or within any part of the mortgaged property permitting the same. A violation of this provision will constitute material default of landlord entitling the tenant to all rights and remedies at law and in equity including injunctive relief, and the unilateral right of the tenant to terminate its lease, upon 10 days’ written notice to landlord.

(80)	The Fourth Largest Tenant at the Grove Centre Mortgaged Property, Sequoia Insurance, may return Suite 313 (1,393 SF) by giving landlord at least 6 months’ prior written notice and by paying the cost of closing the doorway between the adjoining suites. The tenant must also forfeit $3,500 of their security deposit.

(81)	The Replacement Reserve Cap ($) is calculated as the product of (x) $0.20 times (y) the aggregate number of rentable SF then contained in the mortgaged properties. The TI/LC Cap ($) is calculated as the product of (x) $1.00 times (y) the aggregate number of rentable SF then contained in the mortgaged properties. As of the Cut-off Date, the aggregate number of rentable SF is 1,528,894.

(82)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the Live Nation Downtown LA Mortgaged Property is primarily attributable to underwriting stabilized operations pre-COVID-19. The loan is also structured with an upfront debt service reserve of $790,833.

(83)	In March 2020, the sole tenant, Live Nation Worldwide, went dark and failed to make the rent payment due in April 2020. On or about April 6, 2020, the lender delivered a notice to the borrower regarding the occurrence of a specified tenant trigger period arising under the Mortgage Loan documents due to Live Nation Worldwide suspending operations and failing to pay the rent due in April 2020. The borrower thereafter failed to make the debt service payment due in April 2020. On April 30, 2020 the lender, borrower and related guarantor entered into a side letter agreement whereby the lender agreed, notwithstanding the existence of a trigger period, to disburse debt service reserve funds to the borrower on a one-time basis for the payment of the debt service due in April 2020. The side letter agreement also permitted the borrower to enter into a lease amendment with Live Nation Worldwide pursuant to which an upstream entity of the tenant, Live Nation Entertainment, Inc., would provide a guaranty of the related lease in exchange for: (i) a waiver of the obligation of Live Nation Worldwide to make the unpaid April 2020 rent payment to the borrower, (ii) a rent abatement in the amount of approximately $420,000 through October 2020, and (iii) a reduction of monthly base rent from $148,000 to $140,000. The Live Nation Downtown LA Mortgage Loan is currently in a cash flow trigger due to both (x) Live Nation Worldwide being dark in its space and (y) Live Nation Entertainment, Inc., which at the time of origination was rated Ba3/BB by S&P/Moody’s, being downgraded two notches below the minimum credit rating of BB-/Ba3 to its current rating of B2/B+. There may be other defaults, events of defaults and/or additional trigger periods and specified tenant trigger periods under the related Live Nation Downtown LA Mortgage Loan that may now or hereafter exist, but, as of the Closing Date, the lender has not exercised any of its remedies with respect thereto.

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(84)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 16-18 Squadron Boulevard Mortgaged Property is primarily attributable to contractual rents from 11 tenants occupying 99.3% of NRA, contractual rent steps and potential income from vacant space.

(85)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) is a result of (i) annual rent steps and (ii) tenants paying full unabated rent and recoveries with COVID related rent modifications burning off.

(86)	Pursuant to a lease executed March 3, 2021, Art’s Place (Suite 563 A & B) minimum guaranteed rental is abated 50% over the following 12 months, followed by an additional 18 months abated at 25%. At origination, the borrower deposited $84,341.25 into a free rent reserve for the Art’s Place rent abatement, which will be released monthly to replicate the abated amounts.

(87)	With respect to the Big Lots Extension Funds, the borrower is required to deposit monthly with the lender on the monthly payment dates occurring in May 2025 through July 2025 an amount equal to $60,000.

(88)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 7828 Georgia Avenue NW Mortgaged Property is primarily attributable to underwriting base rent two tenants in occupancy and two executed leases for tenants that had not opened for business or commenced rent payment, contractual rent steps and potential income from vacant space. The lender has reserved $165,316 in gap rent from the closing date to the projected rent commencement dates.

(89)	The lockout period will be at least 25 payment dates beginning with and including the first payment date in April 2021. Defeasance of the 141 Livingston Whole Loan is permitted at any time after the earlier to occur of (i) two years after the closing date of the securitization that includes the last promissory note to be securitized and (ii) February 18, 2025. The assumed defeasance lockout period of 25 payment dates is based on the expected Benchmark 2021-B25 securitization closing date in April 2021. The actual lockout period may be longer.

(90)	The property consists of 20,501 SF (50.4% of total NRA) of office space and 20,144 (49.6% of total NRA) of retail space.

(91)	With respect to the sole tenant at the Mortgaged Property, in connection with the acquisition of the Mortgaged Property by the borrower and as required by the General Services Administration of the United States (“GSA”), the borrower is in the process of seeking the GSA-required novation agreement, pursuant to which GSA would formally recognize the borrower as the new owner of the Mortgaged Property. The lease is currently in the name of the previous owner, which has assigned its rights as landlord to the borrower. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations” in this prospectus for additional information.

(92)	With respect to the At Home - Willow Grove Mortgage Loan, the Annual Debt Service (P&I) ($) is calculated based on the sum of the first 12 principal and interest payments following the Cut-off Date based on the non-standard amortization schedule set forth on Annex H-1 in this prospectus. Monthly Debt Service (P&I) ($) is calculated as 1/12 of the Annual Debt Service (P&I) ($). At origination, the At Home - Willow Grove Mortgage Loan required payments of interest and principal sufficient to amortize the loan over a 30-year amortization schedule following a one-year interest only period. As of April 6, 2021, the At Home - Willow Grove Mortgage Loan was modified into an A/B structure and all scheduled amortization due to the B Note will be directed to hyper-amortize the A Note over a 324-month amortization schedule set forth on Annex H-1 in this prospectus. See Annex H-1 and Annex H-2 in this prospectus for the related At Home - Willow Grove Mortgage Loan and Subordinate Companion Loan amortization schedules.

(93)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the Rouzan Marketplace Mortgaged Property is primarily attributable to recent leasing activity.

(94)	One of the Mortgaged Properties, the Olive Tree Apartments Mortgaged Property, is subject to low-income housing restrictions in connection with Low Income Housing Tax Credits as established by a recorded Low-Income Tax Credit Land Use Restriction Agreement (the “Agreement”) by and between Olive Tree Building LLC, one of the borrowers, and the Colorado Housing and Finance Authority. Under the Agreement, there remain a three-year restriction on evictions other than for good cause and a restriction against increasing the gross rent above the maximum allowed with respect to low-income units (the “Restrictions”). The Agreement and the Restrictions will expire in 2024. See “Description of the Mortgage Pool—Real Estate and Other Tax Considerations” in this prospectus for additional information.

(95)	The requirement under the Mortgage Loan documents for the borrower to establish the Lockbox and the Cash Management may be triggered by, among other triggers, the net cash flow with respect to the Mortgaged Property based on the trailing three-month period immediately preceding the date of such determination declining by (i) from the Origination Date through and including the Payment Due Date occurring in April 2026, 30% or greater

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	from the net cash flow on the Origination Date (i.e. to, or below, $493,010.00), or (ii) from and including the Payment Due Date occurring in May 2026 through and including the Maturity Date or Anticipated Repayment Date, 20% or greater from the net cash flow on the Origination Date (i.e. to, or below, $563,440.00).

(96)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the Mid Cape Flex Mortgaged Property is primarily attributable to in-place contractual rents, rent steps and potential income from vacant space.

(97)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 500 W Superior Mortgaged Property is primarily attributable to in-place contractual rents as of the underwriting date.

(98)	The increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) at the 4 Storage - Red Lion Mortgaged Property is primarily attributable to an increase in-place contractual rents and a decrease in personnel expenses.

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