MSWF Commercial Mortgage Trust 2023-1 FWP Free writing prospectus

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-259741-05

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Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

% of Initial
Pool Balance

% of Loan Balance

Mortgage
Loan
Originator⁽¹⁾

Mortgage
Loan Seller⁽¹⁾

Related Group

Crossed Group

Address

City

County

State

Zip Code

General Property Type

Detailed Property Type

Year Built

Year Renovated

Number of Units

Loan

5, 8, 11, A

CX - 250 Water Street

9.9%

100.0%

WFB

NAP

250 Water Street

Cambridge

Middlesex

02141

Mixed Use

Lab/Office

2022

NAP

479,004

Loan

6, 8, 12, 30

Barbours Cut IOS

9.8%

100.0%

AREF 2/WFB

NAP

816 West Barbours Cut Boulevard

La Porte

Harris

77571

Industrial

Other

1980; 1988; 1998

2013; 2018

100

Loan

8, 13

SOMO Village

6.8%

100.0%

WFB

NAP

1100, 1200, 1300, 1400 & 1500 Valley House Drive

Rohnert Park

Sonoma

94928

Mixed Use

Industrial/Office

1983

2022

595,753

Loan

8, 14, 15

100 & 150 South Wacker Drive

5.3%

100.0%

WFB

NAP

100 & 150 South Wacker Drive

Chicago

Cook

60606

Office

CBD

1961; 1971

2015

1,174,534

Loan

8, 16

Pacific Design Center

5.3%

100.0%

AREF 2

NAP

8687 and 8661 Melrose Avenue and 700 North San Vicente Boulevard

West Hollywood

Los Angeles

90069

Mixed Use

Office/Showroom/Lab

1975; 1988

2004

1,053,217

Loan

Florida Hotel and Conference Center

5.3%

100.0%

MSBNA

MSMCH

NAP

1500 Sand Lake Road

Orlando

Orange

32809

Hospitality

Full Service

1986

2019

511

Loan

8, 10, 18

Cumberland Mall

4.5%

100.0%

MSBNA

MSMCH

Group 1

NAP

2860 Cumberland Mall Southeast

Atlanta

Cobb

30339

Retail

Super Regional Mall

1973

2006-2016

709,318

Loan

8, 19, 30, B

Conair Glendale

4.5%

100.0%

WFB

NAP

7311 & 7475 North Glen Harbor Boulevard, 10669 & 10691 West Vista Avenue

Glendale

Maricopa

85307

Industrial

Warehouse/Distribution

1995; 2017

NAP

1,416,000

Loan

8, 20, 30

Rialto Industrial

4.5%

100.0%

AREF

NAP

1110 West Merrill Avenue

Rialto

San Bernardino

92376

Industrial

Warehouse/Distribution

1989

2020

1,106,124

Loan

8, 30

Museum Tower

4.5%

100.0%

SMC

NAP

150 West Flagler Street

Miami

Miami-Dade

33130

Office

CBD

1983

NAP

243,825

Loan

8, 21, 30

100 Jefferson Road

4.4%

100.0%

AREF 2

NAP

100 Jefferson Road

Parsippany

Morris

07054

Industrial

Warehouse/Distribution

1957; 1998

2020-2023

558,930

Loan

303 West Hurst Boulevard

4.0%

100.0%

AREF 2

NAP

303 West Hurst Boulevard

Hurst

Tarrant

76053

Industrial

Manufacturing

1970-1987

2014

333,500

Loan

8, 22, C

Metroplex

3.6%

100.0%

AREF 2

NAP

3530 Wilshire Boulevard

Los Angeles

90010

Office

CBD

1985

2018-2020

419,804

Loan

8, 9

3800 Horizon Boulevard

3.3%

100.0%

AREF 2

NAP

3800 Horizon Boulevard

Feasterville-Trevose

Bucks

19053

Office

Suburban

2009

NAP

214,750

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

3.1%

100.0%

WFB

NAP

5501 Carnegie Boulevard

Charlotte

Mecklenburg

28209

Hospitality

Full Service

1989

2019

264

Loan

8, 25, D

Heritage Plaza

3.0%

100.0%

MSBNA

MSMCH

Group 1

NAP

1111 & 1200 Bagby Street

Houston

Harris

77002

Office

CBD

1986

2021

1,158,165

Loan

Staybridge Suites Hillsboro – Orenco Station

2.6%

100.0%

LMF

NAP

7715 Northeast Cherry Drive

Hillsboro

Washington

97124

Hospitality

Extended Stay

2020

NAP

Loan

26, E

Cornerstone Marketplace

2.1%

100.0%

SMC

NAP

100-450 Cornerstone Boulevard

Hot Springs

Garland

71913

Retail

Anchored

1998

NAP

142,322

Loan

Pecan Place Apartments

2.0%

100.0%

SMC

NAP

2001 Jenkins Road

Pasadena

Harris

77506

Multifamily

Garden

1969

NAP

252

Loan

Watchfire

1.9%

100.0%

MSBNA

MSMCH

NAP

1015 Maple Street

Danville

Vermilion

61832

Industrial

Manufacturing

1932

2012

200,000

Loan

FedEx Ground - Lansing

1.8%

100.0%

WFB

NAP

2290 South Canal Road

Lansing

Eaton

48917

Industrial

Warehouse/Distribution

2013

2022

147,258

Loan

Storage Xxtra Highway 154

1.7%

100.0%

SMC

NAP

4046 Highway 154

Newnan

Coweta

30265

Self Storage

2008

NAP

110,810

Loan

AutoZone Center

1.7%

100.0%

MSBNA

MSMCH

NAP

701 East Market Street

Leesburg

Loudoun

20176

Retail

Unanchored

1987

NAP

65,982

Loan

Woodward Place

1.3%

100.0%

AREF 2

NAP

3400 Southwest 44th Street

Oklahoma City

Oklahoma

73119

Multifamily

Garden

1966

2021-2022

126

Loan

Rittenhouse Multifamily

1.0%

100.0%

WFB

NAP

1707 Rittenhouse Square & 327 South 16th Street

Philadelphia

19103

Multifamily

Mid Rise

1752; 1800

2020; 2022

Loan

Snapbox Storage Airship

0.8%

100.0%

WFB

NAP

2420 Ridgeway Boulevard

Manchester Township

Ocean

08759

Self Storage

2006

NAP

41,085

Loan

Prunedale Self Storage - CA

0.4%

100.0%

WFB

NAP

8305 Prunedale North Road

Salinas

Monterey

93907

Self Storage

2006

NAP

48,772

Loan

602 10th Ave

0.4%

100.0%

LMF

NAP

602 10th Avenue

New York

10036

Mixed Use

Multifamily/Retail

1910

NAP

Loan

160 West 72nd Street

0.3%

100.0%

WFB

NAP

160 West 72nd Street

New York

10023

Mixed Use

Multifamily/Retail/Office

1910

2022

Loan

425 East Hebron Street

0.2%

100.0%

SMC

NAP

425 East Hebron Street

Charlotte

Mecklenburg

28273

Industrial

Flex

1978

1986

8,371

A-1-1

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %	Administrative Fee Rate %⁽³⁾	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.)
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	SF	1,109.59	65,625,000	65,625,000	65,625,000	5.50950%	0.02087%	5.48863%	NAP	305,485.51	NAP	3,665,826.17	Interest Only - ARD	Yes	Actual/360	120	117	120
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	Acres	935,000.00	65,000,000	65,000,000	65,000,000	7.20000%	0.02087%	7.17913%	NAP	395,416.67	NAP	4,745,000.04	Interest Only	No	Actual/360	121	121	121
3	Loan	8, 13	1	SOMO Village	SF	105.75	45,000,000	45,000,000	42,436,726	6.52400%	0.02087%	6.50313%	285,141.24	248,047.92	3,421,694.88	2,976,575.04	Interest Only, Amortizing Balloon	No	Actual/360	60	60	120
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	SF	85.14	35,000,000	35,000,000	35,000,000	6.08900%	0.02087%	6.06813%	NAP	180,062.44	NAP	2,160,749.28	Interest Only	No	Actual/360	120	117	120
5	Loan	8, 16	1	Pacific Design Center	SF	232.62	35,000,000	35,000,000	35,000,000	5.94107%	0.01962%	5.92145%	NAP	175,687.93	NAP	2,108,255.16	Interest Only	No	Actual/360	120	117	120
6	Loan	17	1	Florida Hotel and Conference Center	Rooms	68,493.15	35,000,000	35,000,000	35,000,000	6.70000%	0.02087%	6.67913%	NAP	198,130.79	NAP	2,377,569.48	Interest Only	No	Actual/360	120	120	120
7	Loan	8, 10, 18	1	Cumberland Mall	SF	253.76	30,000,000	30,000,000	30,000,000	7.87000%	0.01962%	7.85038%	NAP	199,482.64	NAP	2,393,791.68	Interest Only	No	Actual/360	60	60	60
8	Loan	8, 19, 30, B	1	Conair Glendale	SF	70.62	30,000,000	30,000,000	30,000,000	6.74500%	0.02087%	6.72413%	NAP	170,967.01	NAP	2,051,604.12	Interest Only	No	Actual/360	120	116	120
9	Loan	8, 20, 30	1	Rialto Industrial	SF	163.63	30,000,000	30,000,000	30,000,000	7.61000%	0.01962%	7.59038%	NAP	192,892.36	NAP	2,314,708.32	Interest Only	No	Actual/360	120	115	120
10	Loan	8, 30	1	Museum Tower	SF	192.76	30,000,000	30,000,000	30,000,000	6.54600%	0.02087%	6.52513%	NAP	165,922.92	NAP	1,991,075.00	Interest Only	No	Actual/360	60	60	60
11	Loan	8, 21, 30	1	100 Jefferson Road	SF	174.44	29,500,000	29,500,000	29,500,000	7.26000%	0.01962%	7.24038%	NAP	180,953.82	NAP	2,171,445.84	Interest Only	No	Actual/360	120	119	120
12	Loan	30	1	303 West Hurst Boulevard	SF	79.46	26,500,000	26,500,000	26,500,000	7.27000%	0.02087%	7.24913%	NAP	162,775.64	NAP	1,953,307.68	Interest Only	No	Actual/360	120	120	120
13	Loan	8, 22, C	1	Metroplex	SF	128.63	24,000,000	24,000,000	24,000,000	6.72350%	0.01962%	6.70388%	NAP	136,337.64	NAP	1,636,051.68	Interest Only	No	Actual/360	60	56	60
14	Loan	8, 9	1	3800 Horizon Boulevard	SF	125.73	22,000,000	22,000,000	19,941,933	6.99000%	0.02087%	6.96913%	146,218.83	129,929.86	1,754,625.96	1,559,158.32	Interest Only, Amortizing Balloon	No	Actual/360	24	23	120
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	Rooms	77,651.52	20,500,000	20,500,000	17,691,760	6.53000%	0.02087%	6.50913%	129,978.66	NAP	1,559,743.92	NAP	Amortizing Balloon	No	Actual/360	0	0	120
16	Loan	8, 25, D	1	Heritage Plaza	SF	148.51	20,000,000	20,000,000	20,000,000	7.63000%	0.02087%	7.60913%	NAP	128,932.87	NAP	1,547,194.44	Interest Only	No	Actual/360	60	60	60
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	Rooms	212,500.00	17,000,000	17,000,000	15,477,899	7.20000%	0.02087%	7.17913%	115,394.00	103,416.67	1,384,728.00	1,241,000.04	Interest Only, Amortizing Balloon	No	Actual/360	24	24	120
18	Loan	26, E	1	Cornerstone Marketplace	SF	98.37	14,000,000	14,000,000	14,000,000	6.79700%	0.02087%	6.77613%	NAP	80,399.70	NAP	964,796.39	Interest Only	No	Actual/360	120	120	120
19	Loan	F	1	Pecan Place Apartments	Units	53,571.43	13,500,000	13,500,000	12,137,635	6.59000%	0.02087%	6.56913%	86,129.79	75,167.19	1,033,557.48	902,006.25	Interest Only, Amortizing Balloon	No	Actual/360	24	23	120
20	Loan	G	1	Watchfire	SF	62.57	12,514,000	12,514,000	12,514,000	5.85500%	0.02087%	5.83413%	NAP	61,905.92	NAP	742,871.04	Interest Only	No	Actual/360	120	119	120
21	Loan		1	FedEx Ground - Lansing	SF	80.34	11,830,000	11,830,000	11,830,000	5.53000%	0.02087%	5.50913%	NAP	55,273.76	NAP	663,285.12	Interest Only	No	Actual/360	120	117	120
22	Loan	27	1	Storage Xxtra Highway 154	SF	103.78	11,500,000	11,500,000	11,500,000	6.92000%	0.02087%	6.89913%	NAP	67,237.73	NAP	806,852.78	Interest Only	No	Actual/360	120	119	120
23	Loan	7	1	AutoZone Center	SF	171.26	11,300,000	11,300,000	11,300,000	7.15000%	0.02087%	7.12913%	NAP	68,264.29	NAP	819,171.48	Interest Only	No	Actual/360	121	121	121
24	Loan		1	Woodward Place	Units	69,841.27	8,800,000	8,800,000	8,800,000	6.90000%	0.02087%	6.87913%	NAP	51,302.78	NAP	615,633.36	Interest Only	No	Actual/360	120	120	120
25	Loan		1	Rittenhouse Multifamily	Units	423,333.33	6,350,000	6,350,000	6,350,000	6.58300%	0.02087%	6.56213%	NAP	35,318.86	NAP	423,826.32	Interest Only	No	Actual/360	120	120	120
26	Loan	28	1	Snapbox Storage Airship	SF	131.43	5,400,000	5,400,000	5,400,000	6.34400%	0.02087%	6.32313%	NAP	28,944.50	NAP	347,334.00	Interest Only	No	Actual/360	120	120	120
27	Loan		1	Prunedale Self Storage - CA	SF	59.46	2,900,000	2,900,000	2,900,000	6.46800%	0.02087%	6.44713%	NAP	15,848.10	NAP	190,177.20	Interest Only	No	Actual/360	120	119	120
28	Loan	29	1	602 10th Ave	Units	192,857.14	2,700,000	2,700,000	2,700,000	6.99000%	0.02087%	6.96913%	NAP	15,945.94	NAP	191,351.28	Interest Only	No	Actual/360	120	119	120
29	Loan	30	1	160 West 72nd Street	Units	293,500.00	1,761,000	1,761,000	1,761,000	6.34900%	0.02087%	6.32813%	NAP	9,446.56	NAP	113,358.72	Interest Only	No	Actual/360	120	120	120
30	Loan	30	1	425 East Hebron Street	SF	155.18	1,300,000	1,298,992	1,144,160	7.28000%	0.02087%	7.25913%	8,894.76	NAP	106,737.12	NAP	Amortizing Balloon	No	Actual/360	0	0	120

A-1-2

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Remaining Term To Maturity / ARD (Mos.)	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 to Late Charge (Days)	Grace Period to Default (Days)	Prepayment Provisions (No. of Payments)	Most Recent EGI ($)	Most Recent Expenses ($)	Most Recent NOI ($)	Most Recent NOI Date	Most Recent Description
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	117	0	0	1/27/2023	3	10	3/10/2023	NAP	2/10/2033	2/10/2038	0	0	L(24),YM1(3),DorYM1(86),O(7)	NAP	NAP	NAP	NAP	NAP
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	121	0	0	5/9/2023	0	6	6/6/2023	NAP	6/6/2033	NAP	0	0	L(24),D(93),O(4)	NAV	NAV	NAV	NAV	NAV
3	Loan	8, 13	1	SOMO Village	120	360	360	4/13/2023	0	11	6/11/2023	6/11/2028	5/11/2033	NAP	0	0	L(24),D(92),O(4)	10,894,533	4,237,878	6,656,655	12/31/2022	T-12
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	117	0	0	1/24/2023	3	1	3/1/2023	NAP	2/1/2033	NAP	0	5	L(27),D(86),O(7)	37,057,098	20,197,153	16,859,945	11/30/2022	T-12
5	Loan	8, 16	1	Pacific Design Center	117	0	0	1/11/2023	3	6	3/6/2023	NAP	2/6/2033	NAP	0	0	L(27),D(86),O(7)	40,094,569	13,349,509	26,745,060	9/30/2022	T-12
6	Loan	17	1	Florida Hotel and Conference Center	120	0	0	4/26/2023	0	1	6/1/2023	NAP	5/1/2033	NAP	0	5	L(24),D(91),O(5)	23,023,513	16,512,614	6,510,899	2/28/2023	T-12
7	Loan	8, 10, 18	1	Cumberland Mall	60	0	0	4/14/2023	0	1	6/1/2023	NAP	5/1/2028	NAP	0	0	L(24),D(32),O(4)	32,341,156	8,275,516	24,065,640	1/31/2023	T-12
8	Loan	8, 19, 30, B	1	Conair Glendale	116	0	0	12/21/2022	4	6	2/6/2023	NAP	1/6/2033	NAP	5	5	L(28),YM1(88),O(4)	NAV	NAV	NAV	NAV	NAV
9	Loan	8, 20, 30	1	Rialto Industrial	115	0	0	11/10/2022	5	6	1/6/2023	NAP	12/6/2032	NAP	0	0	L(29),D(87),O(4)	NAV	NAV	NAV	NAV	NAV
10	Loan	8, 30	1	Museum Tower	60	0	0	4/17/2023	0	6	6/6/2023	NAP	5/6/2028	NAP	0	0	L(24),D(30),O(6)	7,418,134	3,972,846	3,445,288	1/31/2023	T-12
11	Loan	8, 21, 30	1	100 Jefferson Road	119	0	0	3/10/2023	1	6	5/6/2023	NAP	4/6/2033	NAP	0	0	L(25),D(91),O(4)	8,432,796	3,191,612	5,241,184	12/31/2022	T-12
12	Loan	30	1	303 West Hurst Boulevard	120	0	0	5/5/2023	0	6	6/6/2023	NAP	5/6/2033	NAP	0	0	L(24),D(92),O(4)	NAV	NAV	NAV	NAV	NAV
13	Loan	8, 22, C	1	Metroplex	56	0	0	1/6/2023	4	6	2/6/2023	NAP	1/6/2028	NAP	0	0	L(12),YM1(16),DorYM1(27),O(5)	9,222,846	3,110,138	6,112,708	9/30/2022	T-12
14	Loan	8, 9	1	3800 Horizon Boulevard	119	360	360	3/27/2023	1	6	5/6/2023	5/6/2025	4/6/2033	NAP	0	0	L(25),D(91),O(4)	4,346,165	1,598,748	2,747,417	1/31/2023	T-12
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	120	360	360	4/25/2023	0	11	6/11/2023	6/11/2023	5/11/2033	NAP	0	0	L(24),D(92),O(4)	13,485,065	10,241,272	3,243,793	2/28/2023	T-12
16	Loan	8, 25, D	1	Heritage Plaza	60	0	0	4/13/2023	0	6	6/6/2023	NAP	5/6/2028	NAP	0	0	YM1(24),DorYM1(29),O(7)	47,511,670	19,723,321	27,788,349	12/31/2022	T-12
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	120	360	360	4/13/2023	0	6	6/6/2023	6/6/2025	5/6/2033	NAP	0	0	L(24),D(92),O(4)	4,177,685	1,983,524	2,194,161	3/31/2023	T-12
18	Loan	26, E	1	Cornerstone Marketplace	120	0	0	4/27/2023	0	6	6/6/2023	NAP	5/6/2033	NAP	0	0	L(24),DorYM1(91),O(5)	1,742,739	492,406	1,250,333	2/28/2023	T-12
19	Loan	F	1	Pecan Place Apartments	119	360	360	4/6/2023	1	6	5/6/2023	5/6/2025	4/6/2033	NAP	0	0	L(24),YM1(92),O(4)	2,285,606	951,552	1,334,054	2/28/2023	T-12
20	Loan	G	1	Watchfire	119	0	0	3/29/2023	1	1	5/1/2023	NAP	4/1/2033	NAP	0	5	L(22),YM1(3),DorYM1(90),O(5)	NAV	NAV	NAV	NAV	NAV
21	Loan		1	FedEx Ground - Lansing	117	0	0	2/8/2023	3	11	3/11/2023	NAP	2/11/2033	NAP	0	0	L(27),D(86),O(7)	NAV	NAV	NAV	NAV	NAV
22	Loan	27	1	Storage Xxtra Highway 154	119	0	0	3/8/2023	1	6	5/6/2023	NAP	4/6/2033	NAP	0	0	L(25),D(91),O(4)	1,592,293	426,855	1,165,438	1/31/2023	T-12
23	Loan	7	1	AutoZone Center	121	0	0	5/4/2023	0	1	6/1/2023	NAP	6/1/2033	NAP	0	5	L(24),D(92),O(5)	2,005,944	343,012	1,662,932	2/28/2023	T-12
24	Loan		1	Woodward Place	120	0	0	5/3/2023	0	6	6/6/2023	NAP	5/6/2033	NAP	0	0	L(24),D(91),O(5)	1,232,223	527,002	705,221	2/28/2023	T-12
25	Loan		1	Rittenhouse Multifamily	120	0	0	4/24/2023	0	11	6/11/2023	NAP	5/11/2033	NAP	0	0	L(24),D(92),O(4)	372,495	34,147	338,348	3/31/2023	T-12
26	Loan	28	1	Snapbox Storage Airship	120	0	0	4/27/2023	0	11	6/11/2023	NAP	5/11/2033	NAP	0	0	L(24),D(92),O(4)	859,256	265,285	593,971	2/28/2023	T-12
27	Loan		1	Prunedale Self Storage - CA	119	0	0	3/31/2023	1	11	5/11/2023	NAP	4/11/2033	NAP	0	0	L(25),D(91),O(4)	1,062,444	271,229	791,215	3/14/2023	T-12
28	Loan	29	1	602 10th Ave	119	0	0	3/30/2023	1	6	5/6/2023	NAP	4/6/2033	NAP	0	0	L(25),D(91),O(4)	414,356	148,817	265,540	2/28/2023	T-12
29	Loan	30	1	160 West 72nd Street	120	0	0	5/1/2023	0	11	6/11/2023	NAP	5/11/2033	NAP	0	0	L(24),D(92),O(4)	566,834	270,243	296,591	12/31/2022	T-12
30	Loan	30	1	425 East Hebron Street	119	360	359	3/27/2023	1	6	5/6/2023	5/6/2023	4/6/2033	NAP	0	0	L(25),D(91),O(4)	NAV	NAV	NAV	NAV	NAV

A-1-3

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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	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)
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	99.0%	62,561,733	13,277,931	49,283,802	119,751	0	49,164,051	1.66
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	11,818,628	1,258,086	10,560,543	0	0	10,560,543	1.55
3	Loan	8, 13	1	SOMO Village	10,486,485	4,484,448	6,002,036	12/31/2021	T-12	8,897,925	4,239,665	4,658,260	12/31/2020	T-12	89.7%	10,854,990	4,120,617	6,734,373	89,363	146,815	6,498,195	1.41
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	36,411,568	18,948,934	17,462,634	12/31/2021	T-12	37,128,459	15,049,737	22,078,722	12/31/2020	T-12	72.0%	35,490,958	17,442,564	18,048,394	234,907	1,761,801	16,051,686	2.92
5	Loan	8, 16	1	Pacific Design Center	38,026,102	12,241,303	25,784,799	12/31/2021	T-12	32,245,576	11,178,233	21,067,343	12/31/2020	T-12	82.6%	46,802,895	13,021,016	33,781,880	210,643	1,524,048	32,047,188	2.29
6	Loan	17	1	Florida Hotel and Conference Center	21,082,761	15,351,879	5,730,882	12/31/2022	T-12	10,372,843	8,988,154	1,384,689	12/31/2021	T-12	69.0%	23,023,513	16,604,106	6,419,407	1,151,176	0	5,268,231	2.70
7	Loan	8, 10, 18	1	Cumberland Mall	32,192,386	7,869,157	24,323,229	12/31/2022	T-12	30,319,446	7,094,622	23,224,824	12/31/2021	T-12	96.5%	32,871,677	8,090,891	24,780,787	177,330	739,588	23,863,869	1.73
8	Loan	8, 19, 30, B	1	Conair Glendale	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	13,946,705	3,137,443	10,809,262	179,983	0	10,629,279	1.58
9	Loan	8, 20, 30	1	Rialto Industrial	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	22,349,341	4,721,514	17,627,827	110,612	331,837	17,185,377	1.26
10	Loan	8, 30	1	Museum Tower	7,301,048	3,975,548	3,325,500	12/31/2022	T-12	6,863,161	3,647,228	3,215,933	12/31/2021	T-12	92.1%	10,154,929	4,566,846	5,588,082	36,723	243,825	5,307,534	1.79
11	Loan	8, 21, 30	1	100 Jefferson Road	7,441,661	2,981,585	4,460,076	12/31/2021	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	14,333,301	3,903,654	10,429,647	55,893	177,357	10,196,397	1.45
12	Loan	30	1	303 West Hurst Boulevard	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	4,339,429	899,320	3,440,109	46,690	166,750	3,226,669	1.76
13	Loan	8, 22, C	1	Metroplex	10,696,105	3,145,704	7,550,401	12/31/2021	T-12	12,069,467	3,425,309	8,644,158	12/31/2020	T-12	69.8%	10,018,053	3,244,801	6,773,252	117,545	294,804	6,360,903	1.84
14	Loan	8, 9	1	3800 Horizon Boulevard	4,312,443	1,596,838	2,715,605	12/31/2022	T-12	4,511,753	1,552,210	2,959,543	12/31/2021	T-12	75.5%	4,988,019	1,683,694	3,304,325	42,950	325	3,261,050	1.53
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	12,635,073	9,784,665	2,850,408	12/31/2022	T-12	7,390,688	6,733,967	656,722	12/31/2021	T-12	61.0%	13,485,065	10,241,272	3,243,793	674,253	0	2,569,540	2.08
16	Loan	8, 25, D	1	Heritage Plaza	41,405,549	22,550,623	18,854,926	12/31/2021	T-12	46,993,596	19,123,848	27,869,748	12/31/2020	T-12	69.1%	43,938,879	22,147,467	21,791,413	364,421	871,468	20,555,523	1.64
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	4,039,144	1,936,660	2,102,484	12/31/2022	T-12	2,199,102	1,291,128	907,974	12/31/2021	T-12	87.8%	4,177,685	1,993,089	2,184,596	167,107	0	2,017,489	1.58
18	Loan	26, E	1	Cornerstone Marketplace	1,793,717	501,565	1,292,151	12/31/2022	T-12	1,570,456	477,744	1,092,713	12/31/2021	T-12	95.0%	2,232,150	514,574	1,717,576	14,232	128,090	1,575,254	1.78
19	Loan	F	1	Pecan Place Apartments	2,268,678	943,785	1,324,893	12/31/2022	T-12	2,144,508	859,565	1,284,943	12/31/2021	T-12	90.9%	2,285,606	983,608	1,301,998	63,000	$0	1,238,998	1.26
20	Loan	G	1	Watchfire	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	1,788,641	389,280	1,399,361	20,000	60,138	1,319,223	1.88
21	Loan		1	FedEx Ground - Lansing	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	97.0%	1,563,438	297,324	1,266,114	22,089	54,020	1,190,005	1.91
22	Loan	27	1	Storage Xxtra Highway 154	1,581,980	418,006	1,163,974	12/31/2022	T-12	1,352,028	407,824	944,204	12/31/2021	T-12	88.0%	1,592,394	425,268	1,167,126	11,081	$0	1,156,045	1.45
23	Loan	7	1	AutoZone Center	2,009,504	369,269	1,640,235	12/31/2022	T-12	1,849,119	363,582	1,485,537	12/31/2021	T-12	86.2%	1,712,970	360,927	1,352,043	9,897	57,881	1,284,264	1.65
24	Loan		1	Woodward Place	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	1,594,061	689,162	904,900	31,500	0	873,400	1.47
25	Loan		1	Rittenhouse Multifamily	293,790	32,864	260,926	12/31/2022	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	604,926	78,195	526,731	3,750	0	522,981	1.24
26	Loan	28	1	Snapbox Storage Airship	783,929	244,059	539,870	2/28/2022	T-12	697,352	248,442	448,910	2/28/2021	T-12	89.6%	838,907	245,413	593,494	4,109	-659	590,044	1.71
27	Loan		1	Prunedale Self Storage - CA	1,081,375	280,284	801,091	12/31/2022	T-12	1,078,985	280,889	798,096	12/31/2021	T-12	95.0%	1,047,202	300,746	746,456	8,329	0	738,127	3.93
28	Loan	29	1	602 10th Ave	410,094	157,775	252,319	12/31/2022	T-12	380,100	130,073	250,027	12/31/2021	T-12	98.0%	407,324	160,995	246,329	2,570	800	242,959	1.29
29	Loan	30	1	160 West 72nd Street	563,642	257,538	306,104	12/31/2021	T-12	561,697	247,812	313,885	12/31/2020	T-12	95.0%	573,129	286,830	286,299	2,494	3,875	279,931	2.53
30	Loan	30	1	425 East Hebron Street	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	159,049	4,771	154,278	1,256	2,093	150,929	1.45

A-1-4

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Underwritten NCF DSCR (x)	Underwritten NOI Debt Yield (%)	Underwritten NCF Debt Yield (%)	Appraised Value ($)	Appraised Value Type	Appraisal Date	Cut-off Date LTV Ratio (%)	LTV Ratio at Maturity / ARD (%)	Leased Occupancy (%)⁽²⁾	Occupancy Date	Single Tenant (Y/N)	Largest Tenant	Largest Tenant SF	Largest Tenant % of NRA
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	1.66	9.3%	9.3%	1,090,000,000	Prospective Market Value Upon Completion & Stabilization	1/1/2023	48.8%	48.8%	98.7%	5/1/2023	Yes	E.R. Squibb & Sons LLC	472,580	98.7%
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	1.55	11.3%	11.3%	186,000,000	As Is	4/19/2023	50.3%	50.3%	100.0%	4/21/2023	No	Ceres Terminals	76	75.7%
3	Loan	8, 13	1	SOMO Village	1.36	10.7%	10.3%	103,470,000	As Is	2/21/2023	60.9%	57.4%	89.2%	3/31/2023	No	Morton & Bassett	178,865	30.0%
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	2.60	18.0%	16.1%	267,800,000	As Is	1/3/2023	37.3%	37.3%	74.6%	12/1/2022	No	Charles Schwab & Co	145,543	12.4%
5	Loan	8, 16	1	Pacific Design Center	2.17	13.8%	13.1%	512,500,000	As Is	11/17/2022	47.8%	47.8%	78.3%	12/6/2022	No	Cedars Sinai Medical Center	259,653	24.7%
6	Loan	17	1	Florida Hotel and Conference Center	2.22	18.3%	15.1%	66,000,000	As Is	2/1/2023	53.0%	53.0%	69.0%	2/28/2023	NAP	NAP	NAP	NAP
7	Loan	8, 10, 18	1	Cumberland Mall	1.66	13.8%	13.3%	368,000,000	As Is	2/28/2023	48.9%	48.9%	98.7%	3/31/2023	No	Costco	147,409	20.8%
8	Loan	8, 19, 30, B	1	Conair Glendale	1.55	10.8%	10.6%	195,900,000	As Is	11/15/2022	51.0%	51.0%	100.0%	5/1/2023	Yes	Conair	1,416,000	100.0%
9	Loan	8, 20, 30	1	Rialto Industrial	1.23	9.7%	9.5%	350,000,000	As Is	10/12/2022	51.7%	51.7%	100.0%	5/6/2023	Yes	Rialto Distribution LLC	1,106,124	100.0%
10	Loan	8, 30	1	Museum Tower	1.70	11.9%	11.3%	76,000,000	As Is	2/3/2023	61.8%	61.8%	92.1%	3/30/2023	No	Stearns Weaver Miller	98,695	40.5%
11	Loan	8, 21, 30	1	100 Jefferson Road	1.42	10.7%	10.5%	173,000,000	Upon Completion/Stabilization	8/1/2023	56.4%	56.4%	100.0%	2/28/2023	No	J&J Farms Creamery	204,217	36.5%
12	Loan	30	1	303 West Hurst Boulevard	1.65	13.0%	12.2%	49,200,000	As Is	4/19/2023	53.9%	53.9%	100.0%	5/6/2023	Yes	The Kelly-Moore Paint Company	333,500	100.0%
13	Loan	8, 22, C	1	Metroplex	1.73	12.5%	11.8%	104,000,000	As Is	10/10/2022	51.9%	51.9%	65.9%	1/1/2023	No	County of Los Angeles	66,644	15.9%
14	Loan	8, 9	1	3800 Horizon Boulevard	1.51	12.2%	12.1%	45,000,000	As Is	3/3/2023	60.0%	54.4%	74.4%	3/3/2023	No	Comcast of Southeast Pennsylvania, LLC	43,173	20.1%
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	1.65	15.8%	12.5%	48,000,000	As Is	3/9/2023	42.7%	36.9%	61.0%	2/28/2023	NAP	NAP	NAP	NAP
16	Loan	8, 25, D	1	Heritage Plaza	1.54	12.7%	12.0%	521,800,000	As Is	2/1/2023	33.0%	33.0%	70.1%	2/23/2023	No	EOG Resources Inc.	376,333	32.5%
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	1.46	12.9%	11.9%	28,100,000	As Is	3/27/2023	60.5%	55.1%	87.8%	3/31/2023	NAP	NAP	NAP	NAP
18	Loan	26, E	1	Cornerstone Marketplace	1.63	12.3%	11.3%	28,000,000	As Is	4/7/2023	50.0%	50.0%	98.3%	4/21/2023	No	Sportsman's Warehouse	28,088	19.7%
19	Loan	F	1	Pecan Place Apartments	1.20	9.6%	9.2%	21,500,000	As Is	3/1/2023	62.8%	56.5%	92.9%	3/21/2023	NAP	NAP	NAP	NAP
20	Loan	G	1	Watchfire	1.78	11.2%	10.5%	20,000,000	As Is	2/20/2023	62.6%	62.6%	100.0%	5/1/2023	Yes	Watchfire Signs, LLC	200,000	100.0%
21	Loan		1	FedEx Ground - Lansing	1.79	10.7%	10.1%	24,800,000	As Is	8/23/2022	47.7%	47.7%	100.0%	5/1/2023	Yes	FedEx Ground Package System, Inc.	147,258	100.0%
22	Loan	27	1	Storage Xxtra Highway 154	1.43	10.1%	10.1%	20,025,000	As Is	2/22/2023	57.4%	57.4%	90.2%	1/31/2023	NAP	NAP	NAP	NAP
23	Loan	7	1	AutoZone Center	1.57	12.0%	11.4%	20,350,000	As Is	3/27/2023	55.5%	55.5%	84.7%	4/4/2023	No	The Good Shepherd Alliance	8,601	13.0%
24	Loan		1	Woodward Place	1.42	10.3%	9.9%	13,100,000	As Is	3/28/2023	67.2%	67.2%	97.6%	4/7/2023	NAP	NAP	NAP	NAP
25	Loan		1	Rittenhouse Multifamily	1.23	8.3%	8.2%	9,075,000	As Is	3/13/2023	70.0%	70.0%	100.0%	3/1/2023	NAP	NAP	NAP	NAP
26	Loan	28	1	Snapbox Storage Airship	1.70	11.0%	10.9%	9,900,000	As Is	4/3/2023	54.5%	54.5%	87.8%	4/16/2023	NAP	NAP	NAP	NAP
27	Loan		1	Prunedale Self Storage - CA	3.88	25.7%	25.5%	13,000,000	As Is	2/9/2023	22.3%	22.3%	98.3%	3/14/2023	NAP	NAP	NAP	NAP
28	Loan	29	1	602 10th Ave	1.27	9.1%	9.0%	4,800,000	As Is	3/22/2023	56.3%	56.3%	100.0%	3/22/2023	No	H&R Block	800	100.0%
29	Loan	30	1	160 West 72nd Street	2.47	16.3%	15.9%	6,265,000	As Is	3/16/2023	28.1%	28.1%	100.0%	4/1/2023	No	AMC	2,583	100.0%
30	Loan	30	1	425 East Hebron Street	1.41	11.9%	11.6%	1,980,000	As Is	1/31/2023	65.6%	57.8%	100.0%	5/6/2023	Yes	YL Global Management	8,371	100.0%

A-1-5

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Largest Tenant Lease Expiration Date⁽⁴⁾

Second Largest Tenant

Second Largest Tenant SF

Second Largest Tenant % of NRA

Second Largest Tenant Lease Expiration Date⁽⁴⁾

Third Largest Tenant

Third Largest Tenant SF

Third Largest Tenant % of NRA

Third Largest Tenant Lease Expiration Date⁽⁴⁾

Loan

5, 8, 11, A

CX - 250 Water Street

10/31/2037

NAP

Loan

6, 8, 12, 30

Barbours Cut IOS

6/30/2037

Dragon Products

24.3%

6/30/2037

NAP

Loan

8, 13

SOMO Village

9/30/2032

Rieke Packaging

105,200

17.7%

8/1/2024

Credo Public High School

53,419

9.0%

7/30/2027

Loan

8, 14, 15

100 & 150 South Wacker Drive

12/31/2027

Golub Capital LLC

128,467

10.9%

11/30/2028

G2 Crowd Inc

64,577

5.5%

6/30/2028

Loan

8, 16

Pacific Design Center

6/30/2038 (107,449 SF); 6/30/2033 (97,053 SF); 5/31/2030 (46,151 SF); 8/31/2032 (9,000 SF)

8687 Melrose Greentenant

54,630

5.2%

2/28/2034

Pluto, Inc.

35,850

3.4%

11/30/2028 (35,500 SF); MTM (350 SF)

Loan

Florida Hotel and Conference Center

NAP

Loan

8, 10, 18

Cumberland Mall

11/30/2026

Round 1 Bowling & Amusement

83,600

11.8%

2/28/2031

Dick's Sporting Goods

70,984

10.0%

1/31/2031

Loan

8, 19, 30, B

Conair Glendale

11/30/2037

NAP

Loan

8, 20, 30

Rialto Industrial

10/31/2042

NAP

Loan

8, 30

Museum Tower

9/30/2027

Mana Miami Management, LLC

39,378

16.2%

4/30/2038

GSA-Federal Public Defenders

28,765

11.8%

3/7/2037

Loan

8, 21, 30

100 Jefferson Road

2/28/2038

Vitaquest International LLC

198,489

35.5%

2/28/2030

PNY Technologies Inc

156,224

28.0%

10/4/2028

Loan

303 West Hurst Boulevard

4/30/2038

NAP

Loan

8, 22, C

Metroplex

2/3/2025

New York Life Insurance Company

24,462

5.8%

6/30/2030

HW Workspace, LLC dba Spark Spaces

13,236

3.2%

12/31/2025

Loan

8, 9

3800 Horizon Boulevard

2/29/2024

Epicor Software Corp

32,110

15.0%

11/30/2024

Harte-Hanks Direct Inc

22,660

10.6%

2/28/2025

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

NAP

Loan

8, 25, D

Heritage Plaza

3/31/2035

Deloitte & Touche USA LLP

205,125

17.7%

2/28/2031

Perella Weinberg Partners Group LP

63,446

5.5%

8/31/2027

Loan

Staybridge Suites Hillsboro – Orenco Station

NAP

Loan

26, E

Cornerstone Marketplace

9/30/2033

TJ Maxx

28,000

19.7%

1/31/2029

Office Depot

25,000

17.6%

12/31/2024

Loan

Pecan Place Apartments

NAP

Loan

Watchfire

12/31/2042

NAP

Loan

FedEx Ground - Lansing

9/30/2032

NAP

Loan

Storage Xxtra Highway 154

NAP

Loan

AutoZone Center

10/31/2032

Autozone

8,327

12.6%

11/30/2027

Mama's Laundromat

6,773

10.3%

12/31/2029

Loan

Woodward Place

NAP

Loan

Rittenhouse Multifamily

NAP

Loan

Snapbox Storage Airship

NAP

Loan

Prunedale Self Storage - CA

NAP

Loan

602 10th Ave

4/30/2025

NAP

Loan

160 West 72nd Street

11/30/2030

NAP

Loan

425 East Hebron Street

3/31/2038

NAP

A-1-6

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Fourth Largest Tenant

Fourth Largest Tenant SF

Fourth Largest Tenant % of NRA

Fourth Largest Tenant Lease Expiration Date⁽⁴⁾

Fifth Largest Tenant

Fifth Largest Tenant SF

Fifth Largest Tenant % of NRA

Fifth Largest Tenant Lease Expiration Date⁽⁴⁾

Environmental Phase I Report Date

Environmental Phase II Report Date

Engineering Report Date

Seismic Report Date

Loan

5, 8, 11, A

CX - 250 Water Street

NAP

5/24/2022

NAP

6/17/2022

NAP

Loan

6, 8, 12, 30

Barbours Cut IOS

NAP

4/26/2023

NAP

4/27/2023

NAP

Loan

8, 13

SOMO Village

Traditional Medicinals

44,353

7.4%

22,140 SF expiring 04/30/2027; 22,213 SF expiring 10/31/2029

Comcast

24,989

4.2%

2/28/2026

2/27/2023

NAP

2/28/2023

Loan

8, 14, 15

100 & 150 South Wacker Drive

Greeley & Hansen

38,594

3.3%

5/31/2025

SS&C Technologies

28,278

2.4%

5/31/2031

11/10/2022

NAP

11/10/2022

NAP

Loan

8, 16

Pacific Design Center

InvestCloud, Inc.

32,128

3.1%

1/31/2027

Kneedler Fauchere

17,762

1.7%

1/31/2028 (17,761 SF); MTM (1 SF)

11/22/2022

NAP

11/22/2022

Loan

Florida Hotel and Conference Center

NAP

2/21/2023

NAP

2/21/2023

NAP

Loan

8, 10, 18

Cumberland Mall

Forever 21

25,748

3.6%

1/31/2027

H&M

24,655

3.5%

1/31/2032

3/1/2023

NAP

3/1/2023

NAP

Loan

8, 19, 30, B

Conair Glendale

NAP

9/1/2022

NAP

9/1/2022

NAP

Loan

8, 20, 30

Rialto Industrial

NAP

10/24/2022

NAP

10/24/2022

Loan

8, 30

Museum Tower

Luks Santaniello

13,637

5.6%

5/31/2024

Miami Dade TPO

13,536

5.6%

6/30/2030

2/10/2023

NAP

2/10/2023

NAP

Loan

8, 21, 30

100 Jefferson Road

NAP

12/9/2022

NAP

12/8/2022

NAP

Loan

303 West Hurst Boulevard

NAP

4/21/2023

NAP

4/21/2023

NAP

Loan

8, 22, C

Metroplex

Asiana Airlines

11,840

2.8%

10/31/2024

Carter Residential, LLC

11,418

2.7%

9/30/2024

10/10/2022

NAP

10/10/2022

Loan

8, 9

3800 Horizon Boulevard

Vetstreet LLC

10,830

5.0%

11/30/2024

SEMRush Inc.

10,450

4.9%

6/30/2028

3/6/2023

NAP

3/6/2023

NAP

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

NAP

3/16/2023

NAP

3/8/2023

NAP

Loan

8, 25, D

Heritage Plaza

Lime Rock Management LP

56,984

4.9%

3/31/2024

S&P Global Inc.

28,560

2.5%

2/28/2029

2/9/2023

NAP

2/8/2023

NAP

Loan

Staybridge Suites Hillsboro – Orenco Station

NAP

4/3/2023

NAP

4/3/2023

Loan

26, E

Cornerstone Marketplace

Books-A-Million

20,000

14.1%

1/31/2028

Shoe Carnival

12,000

8.4%

1/31/2033

4/12/2023

NAP

4/13/2023

NAP

Loan

Pecan Place Apartments

NAP

3/9/2023

NAP

3/9/2023

NAP

Loan

Watchfire

NAP

11/16/2022

NAP

11/14/2022

NAP

Loan

FedEx Ground - Lansing

NAP

8/25/2022

NAP

8/25/2022

NAP

Loan

Storage Xxtra Highway 154

NAP

2/23/2023

NAP

2/23/2023

NAP

Loan

AutoZone Center

County Of Loudon, Virginia Workforce Resource Center

4,457

6.8%

7/31/2024

Ana's Market, Inc.

4,221

6.4%

5/31/2027

3/27/2023

NAP

3/27/2023

NAP

Loan

Woodward Place

NAP

4/10/2023

NAP

4/10/2023

NAP

Loan

Rittenhouse Multifamily

NAP

3/22/2023

NAP

3/21/2023

NAP

Loan

Snapbox Storage Airship

NAP

4/7/2023

NAP

4/7/2023

NAP

Loan

Prunedale Self Storage - CA

NAP

2/22/2023

NAP

2/21/2023

2/17/2023

Loan

602 10th Ave

NAP

3/28/2023

NAP

3/21/2023

NAP

Loan

160 West 72nd Street

NAP

3/31/2023

NAP

3/31/2023

NAP

Loan

425 East Hebron Street

NAP

2/14/2023

NAP

2/14/2023

NAP

A-1-7

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	PML or SEL (%)	Flood Zone	Ownership Interest	Ground Lease Expiration Date	Ground Lease Extension Terms	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 ($)	Replacement Reserve Caps ($)	Upfront TI/LC Reserve ($)
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	0	Springing	0	0	0	0
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	NAP	No	Fee/Leasehold	12/31/2043	6, 10-year options; 1, 9-year option	$224,855	No	195,426	32,571	50,000	Springing	0	18,149	650,000	0
3	Loan	8, 13	1	SOMO Village	13%	No	Fee	NAP	NAP	NAP	NAP	35,043	35,043	0	Springing	0	7,468	268,848	3,000,000
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	NAP	Yes - A	Fee	NAP	NAP	NAP	NAP	3,786,464	694,157	0	Springing	0	19,576	0	0
5	Loan	8, 16	1	Pacific Design Center	16%	No	Fee	NAP	NAP	NAP	NAP	178,740	178,740	0	Springing	0	17,554	0	3,000,000
6	Loan	17	1	Florida Hotel and Conference Center	NAP	No	Fee	NAP	NAP	NAP	NAP	376,210	53,744	190,307	63,435	0	5% of Borrower's Operating Income	0	0
7	Loan	8, 10, 18	1	Cumberland Mall	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	0	Springing	0	Springing	0	1,987,019
8	Loan	8, 19, 30, B	1	Conair Glendale	NAP	No	Fee	NAP	NAP	NAP	NAP	81,141	27,047	0	Springing	0	14,999	539,964	0
9	Loan	8, 20, 30	1	Rialto Industrial	18%	No	Fee	NAP	NAP	NAP	NAP	514,722	128,681	122,072	61,036	0	9,218	0	0
10	Loan	8, 30	1	Museum Tower	NAP	Yes - AE	Fee	NAP	NAP	NAP	NAP	559,746	93,291	183	183	0	3,060	0	350,000
11	Loan	8, 21, 30	1	100 Jefferson Road	NAP	No	Fee	NAP	NAP	NAP	NAP	109,030	109,030	86,237	28,746	0	4,658	0	0
12	Loan	30	1	303 West Hurst Boulevard	NAP	No	Fee	NAP	NAP	NAP	NAP	270,574	54,115	57,500	Springing	0	3,891	0	0
13	Loan	8, 22, C	1	Metroplex	14%	No	Fee	NAP	NAP	NAP	NAP	169,654	42,414	0	Springing	0	9,796	0	1,250,000
14	Loan	8, 9	1	3800 Horizon Boulevard	NAP	No	Fee	NAP	NAP	NAP	NAP	394,438	43,826	28,858	5,772	0	3,579	0	1,500,000
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	0	Springing	0	Springing	0	0
16	Loan	8, 25, D	1	Heritage Plaza	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	0	Springing	0	19,303	231,636	5,000,000
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	6%	No	Fee	NAP	NAP	NAP	NAP	0	9,819	6,360	3,029	0	13,926	0	0
18	Loan	26, E	1	Cornerstone Marketplace	NAP	No	Fee	NAP	NAP	NAP	NAP	42,139	14,046	14,109	7,054	0	0	0	350,000
19	Loan	F	1	Pecan Place Apartments	NAP	No	Fee	NAP	NAP	NAP	NAP	164,005	32,801	42,753	7,732	0	5,250	0	0
20	Loan	G	1	Watchfire	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	0	Springing	0	Springing	0	0
21	Loan		1	FedEx Ground - Lansing	NAP	No	Fee	NAP	NAP	NAP	NAP	0	Springing	97,674	9,767	0	1,841	0	0
22	Loan	27	1	Storage Xxtra Highway 154	NAP	No	Fee	NAP	NAP	NAP	NAP	22,290	4,458	0	Springing	0	925	50,000	0
23	Loan	7	1	AutoZone Center	NAP	No	Fee	NAP	NAP	NAP	NAP	12,259	12,259	0	1,925	37,500	825	0	115,469
24	Loan		1	Woodward Place	NAP	No	Fee	NAP	NAP	NAP	NAP	33,447	4,778	10,000	10,000	0	2,625	0	0
25	Loan		1	Rittenhouse Multifamily	NAP	No	Fee	NAP	NAP	NAP	NAP	6,158	3,079	1,363	1,358	0	313	0	0
26	Loan	28	1	Snapbox Storage Airship	NAP	No	Fee	NAP	NAP	NAP	NAP	6,668	6,266	0	Springing	13,180	342	8,217	0
27	Loan		1	Prunedale Self Storage - CA	8%	Yes - AE	Fee	NAP	NAP	NAP	NAP	6,568	6,568	17,290	2,470	0	1,055	25,320	0
28	Loan	29	1	602 10th Ave	NAP	No	Fee	NAP	NAP	NAP	NAP	28,807	6,859	26,434	2,098	0	214	0	0
29	Loan	30	1	160 West 72nd Street	NAP	No	Fee	NAP	NAP	NAP	NAP	74,145	14,829	1,903	Springing	15,000	185	15,000	0
30	Loan	30	1	425 East Hebron Street	NAP	No	Fee	NAP	NAP	NAP	NAP	4,641	580	501	250	0	105	0	10,000

A-1-8

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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 ($)	Monthly Other Reserve ($)	Other Reserve Description
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	Springing	0	0	0	0	0	17,593,844	0	Base Building Work Reserve ($5,932,952); Outstanding TI/LC Reserve ($7,160,274.31); Outstanding Linkage Fees Reserve ($4,500,617.42)
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	0	0	0	0	0	31,313	37,476	Springing	Ground Rent
3	Loan	8, 13	1	SOMO Village	37,341	1,300,000	0	0	0	0	0	0	NAP
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	293,634	5,285,403	0	0	0	0	3,061,432	Springing	Rent Concession Reserve ($2,702,773.36); Existing TI/LC Reserve ($358,658.75); Lease Termination Rollover Funds (Springing)
5	Loan	8, 16	1	Pacific Design Center	Springing	5,000,000	0	0	0	0	13,809,708	Springing	Unfunded Obligations Reserve (Upfront: $13,809,708.28), Major Tenant Downgrade Funds (Monthly: Springing), Major Tenant Non-Renewal Funds (Monthly: Springing)
6	Loan	17	1	Florida Hotel and Conference Center	0	0	0	0	0	0	0	0	NAP
7	Loan	8, 10, 18	1	Cumberland Mall	Springing	1,415,412	0	0	0	0	267,919	Springing	Gap Rent Reserve ($267,919), Anchor Tenant Reserve (Springing)
8	Loan	8, 19, 30, B	1	Conair Glendale	Springing	0	0	0	0	0	0	0	NAP
9	Loan	8, 20, 30	1	Rialto Industrial	0	0	0	0	0	8,125	9,452,054	Springing	Rent Abatement Reserve (Upfront: $9,402,054.00), Litigation Reserve (Upfront: $50,000.00, Monthly: Springing)
10	Loan	8, 30	1	Museum Tower	20,319	1,000,000	0	0	0	285,064	1,000,000	Springing	Mana TI Reserve (Upfront); SWM Reserve (Springing)
11	Loan	8, 21, 30	1	100 Jefferson Road	14,780	886,783	0	0	0	0	11,598,000	0	J&J Farms TI Reserve
12	Loan	30	1	303 West Hurst Boulevard	13,896	0	0	0	0	36,156	4,500,000	0	EBITDAR Reserve
13	Loan	8, 22, C	1	Metroplex	34,984	0	0	0	0	0	5,539,535	34,984	Free Rent Reserve (Upfront: $856,228.30), County of LA Funds (Upfront: $750,000.00, Monthly: $34,984.00), Outstanding TI/LC Reserve (Upfront: $3,933,307.05)
14	Loan	8, 9	1	3800 Horizon Boulevard	12,527	0	0	0	0	31,563	875,302	0	Outstanding TI/LC Reserve ($500,000.00), Rent Abatement Reserve ($375,302.00)
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	0	0	0	0	0	0	0	0	NAP
16	Loan	8, 25, D	1	Heritage Plaza	144,771	10,000,000	0	0	0	0	10,489,446	0	Outstanding Leasing Costs ($10,303,667.00), Free Rent Reserve ($185,778.77)
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	0	0	0	0	0	0	0	0	NAP
18	Loan	26, E	1	Cornerstone Marketplace	Springing	350,000	0	0	0	0	120,000	0	Chick-fil-A Unpaid Expansion Funds Reserve
19	Loan	F	1	Pecan Place Apartments	0	0	0	0	0	0	0	0	NAP
20	Loan	G	1	Watchfire	0	0	0	0	0	0	0	0	NAP
21	Loan		1	FedEx Ground - Lansing	4,295	0	0	0	0	0	0	0	NAP
22	Loan	27	1	Storage Xxtra Highway 154	0	0	0	0	0	0	0	Springing	Property Improvement Reserve
23	Loan	7	1	AutoZone Center	9,622	115,469	0	0	0	15,938	0	0	NAP
24	Loan		1	Woodward Place	0	0	0	0	0	61,500	0	0	NAP
25	Loan		1	Rittenhouse Multifamily	0	0	0	0	0	0	0	0	NAP
26	Loan	28	1	Snapbox Storage Airship	0	0	0	0	0	28,175	0	0	NAP
27	Loan		1	Prunedale Self Storage - CA	0	0	0	0	0	0	0	0	NAP
28	Loan	29	1	602 10th Ave	67	0	0	0	0	8,625	0	0	NAP
29	Loan	30	1	160 West 72nd Street	Springing	0	0	0	0	0	0	0	NAP
30	Loan	30	1	425 East Hebron Street	0	0	0	0	0	0	0	0	NAP

A-1-9

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Other Reserve Cap ($)

Holdback/ Earnout Amount ($)

Holdback/ Earnout Description

Lockbox Type

Cash Management

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 ($)

Loan

5, 8, 11, A

CX - 250 Water Street

NAP

Hard

Springing

Yes

65,625,000

465,875,000

2,168,656.22

2,474,141.73

Loan

6, 8, 12, 30

Barbours Cut IOS

37,476

NAP

Hard

Springing

Yes

65,000,000

28,500,000

173,375.00

568,791.67

Loan

8, 13

SOMO Village

NAP

Soft

Springing

Yes

45,000,000

18,000,000

114,056.50

399,197.74

Loan

8, 14, 15

100 & 150 South Wacker Drive

NAP

Hard

In Place

Yes

35,000,000

65,000,000

334,401.68

514,464.12

Loan

8, 16

Pacific Design Center

NAP

Hard

Springing

Yes

35,000,000

210,000,000

1,054,127.61

1,229,815.54

Loan

Florida Hotel and Conference Center

NAP

Soft

In Place

Yes

NAP

Loan

8, 10, 18

Cumberland Mall

NAP

Hard

Springing

Yes

30,000,000

150,000,000

997,413.19

1,196,895.83

Loan

8, 19, 30, B

Conair Glendale

NAP

Hard

In Place

Yes

30,000,000

70,000,000

398,923.04

569,890.05

Loan

8, 20, 30

Rialto Industrial

Litigation Reserve ($50,000)

NAP

Hard

Springing

Yes

30,000,000

151,000,000

970,891.55

1,163,783.91

Loan

8, 30

Museum Tower

NAP

Hard

Springing

Yes

30,000,000

17,000,000

94,022.99

259,945.90

Loan

8, 21, 30

100 Jefferson Road

NAP

Hard

Springing

Yes

29,500,000

68,000,000

417,113.89

598,067.71

Loan

303 West Hurst Boulevard

NAP

Hard

Springing

Yes

NAP

Loan

8, 22, C

Metroplex

NAP

Hard

Springing

Yes

24,000,000

30,000,000

170,422.05

306,759.69

Loan

8, 9

3800 Horizon Boulevard

NAP

Hard

In Place

Yes

22,000,000

5,000,000

33,231.55

179,450.38

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

NAP

Springing

Yes

NAP

Loan

8, 25, D

Heritage Plaza

NAP

Hard

Springing

Yes

20,000,000

152,000,000

979,889.82

1,108,822.69

Loan

Staybridge Suites Hillsboro – Orenco Station

NAP

Springing

Yes

NAP

Loan

26, E

Cornerstone Marketplace

NAP

Springing

Yes

NAP

Loan

Pecan Place Apartments

NAP

Springing

Yes

NAP

Loan

Watchfire

NAP

Hard

Springing

Yes

NAP

Loan

FedEx Ground - Lansing

NAP

Soft

Springing

Yes

NAP

Loan

Storage Xxtra Highway 154

NAP

Springing

NAP

Loan

AutoZone Center

NAP

Hard

Springing

Yes

NAP

Loan

Woodward Place

NAP

Soft

Springing

Yes

NAP

Loan

Rittenhouse Multifamily

NAP

Springing

Yes

NAP

Loan

Snapbox Storage Airship

NAP

None

NAP

Loan

Prunedale Self Storage - CA

NAP

Springing

Yes

NAP

Loan

602 10th Ave

NAP

Springing

Yes

NAP

Loan

160 West 72nd Street

NAP

Springing

Yes

NAP

Loan

425 East Hebron Street

NAP

Springing

Yes

NAP

A-1-10

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Subordinate Companion Loan Cut-off Date Balance ($)

Subordinate Companion Loan Interest Rate

Whole Loan Cut-off Date Balance ($)

Whole Loan Monthly Debt Service ($)

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)

Future Debt Permitted Type

Loan

5, 8, 11, A

CX - 250 Water Street

NAP

531,500,000

2,474,141.73

48.8%

1.66

9.3%

NAP

Loan

6, 8, 12, 30

Barbours Cut IOS

NAP

93,500,000

568,791.67

50.3%

1.55

11.3%

NAP

Loan

8, 13

SOMO Village

NAP

63,000,000

399,197.74

60.9%

1.36

10.7%

NAP

Loan

8, 14, 15

100 & 150 South Wacker Drive

NAP

100,000,000

514,464.12

37.3%

2.6

18.0%

NAP

Loan

8, 16

Pacific Design Center

20,000,000

15.50000%

265,000,000

1,491,736.84

51.7%

1.79

12.7%

NAP

Yes

Mezzanine

Loan

Florida Hotel and Conference Center

NAP

Yes

Mezzanine

Loan

8, 10, 18

Cumberland Mall

NAP

180,000,000

1,196,895.83

48.9%

1.66

13.8%

NAP

Loan

8, 19, 30, B

Conair Glendale

NAP

100,000,000

569,890.05

51.0%

1.55

10.8%

NAP

Loan

8, 20, 30

Rialto Industrial

NAP

181,000,000

1,163,783.91

51.7%

1.23

9.7%

NAP

Yes

Mezzanine

Loan

8, 30

Museum Tower

NAP

47,000,000

259,945.90

61.8%

1.7

11.9%

NAP

Loan

8, 21, 30

100 Jefferson Road

NAP

97,500,000

598,067.71

56.4%

1.42

10.7%

NAP

Loan

303 West Hurst Boulevard

NAP

Loan

8, 22, C

Metroplex

NAP

54,000,000

306,759.69

51.9%

1.73

12.5%

NAP

Loan

8, 9

3800 Horizon Boulevard

NAP

27,000,000

179,450.38

60.0%

1.51

12.2%

NAP

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

NAP

Loan

8, 25, D

Heritage Plaza

NAP

172,000,000

1,108,822.69

33.0%

1.54

12.7%

NAP

Yes

Mezzanine

Loan

Staybridge Suites Hillsboro – Orenco Station

NAP

Yes

Mezzanine

Loan

26, E

Cornerstone Marketplace

NAP

Yes

Mezzanine

Loan

Pecan Place Apartments

NAP

Loan

Watchfire

NAP

Loan

FedEx Ground - Lansing

NAP

Loan

Storage Xxtra Highway 154

NAP

Loan

AutoZone Center

NAP

Loan

Woodward Place

NAP

Loan

Rittenhouse Multifamily

NAP

Loan

Snapbox Storage Airship

NAP

Loan

Prunedale Self Storage - CA

NAP

Loan

602 10th Ave

NAP

Loan

160 West 72nd Street

NAP

Loan

425 East Hebron Street

NAP

A-1-11

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Sponsor	Non-Recourse Carveout Guarantor	Delaware Statutory Trust (Y/N)	Tenants-in-common (Y/N)	Loan Purpose
1	Loan	5, 8, 11, A	1	CX - 250 Water Street	DivcoWest Real Estate Services, LLC, California State Teachers' Retirement System and Teacher Retirement System of Texas	DW Propco EF, LLC	No	No	Refinance
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS	The Modern Group, Ltd.	The Modern Group, Ltd.	No	No	Recapitalization
3	Loan	8, 13	1	SOMO Village	Bradley E. Baker	Bradley E. Baker	No	No	Refinance
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive	MJH Realty LLC	MJH Realty LLC	No	No	Refinance
5	Loan	8, 16	1	Pacific Design Center	Charles Steven Cohen	Charles Steven Cohen	No	No	Refinance
6	Loan	17	1	Florida Hotel and Conference Center	Tariq M. Shaikh	Tariq M. Shaikh	No	No	Refinance
7	Loan	8, 10, 18	1	Cumberland Mall	BPR Nimbus LLC	BPR Nimbus LLC	No	No	Refinance
8	Loan	8, 19, 30, B	1	Conair Glendale	Conair Holdings LLC	CRE Holding LLC	No	No	Recapitalization
9	Loan	8, 20, 30	1	Rialto Industrial	Ezra Danziger, Paul Reisz and Solomon Weber	Ezra Danziger, Paul Reisz and Solomon Weber	No	No	Refinance
10	Loan	8, 30	1	Museum Tower	Moishe Mana	Moishe Mana	No	No	Acquisition
11	Loan	8, 21, 30	1	100 Jefferson Road	Simcha Friedman and Moris Schlager	Simcha Friedman and Moris Schlager	No	No	Acquisition
12	Loan	30	1	303 West Hurst Boulevard	Michael Flacks	Michael Flacks	No	No	Recapitalization
13	Loan	8, 22, C	1	Metroplex	David Y. Lee	David Y. Lee	No	No	Refinance
14	Loan	8, 9	1	3800 Horizon Boulevard	Abraham Leser, Edith Leser and The Leser Group Ltd.	Abraham Leser, Edith Leser and The Leser Group Ltd.	No	No	Refinance
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel	JWM Family Enterprises, L.P.	Terrapin Limited Holdings, LLC	No	No	Refinance
16	Loan	8, 25, D	1	Heritage Plaza	AEW CPT REIT, LLC, AEW Core Property (U.S.), L.P., Brookfield Office Properties Inc. and Brookfield Property Partners, L.P.	Brookfield Properties Investor LLC	No	No	Refinance
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station	Kristin A. Kirkland and Dean Kirkland	Kristin A. Kirkland and Dean Kirkland	No	No	Refinance
18	Loan	26, E	1	Cornerstone Marketplace	David Garfunkel and Warren Steinberg	David Garfunkel and Warren Steinberg	No	Yes	Refinance
19	Loan	F	1	Pecan Place Apartments	Gary W. Gates, Jr.	Gary W. Gates, Jr.	No	No	Refinance
20	Loan	G	1	Watchfire	New Mountain Capital LLC	New Mountain Net Lease Partners II Corporation	No	No	Recapitalization
21	Loan		1	FedEx Ground - Lansing	Michael Packman	Michael Packman	Yes	No	Acquisition
22	Loan	27	1	Storage Xxtra Highway 154	Fred D. Rickman, Jr., Tracy E.D. Spencer and Fred D. Rickman, Jr. Revocable Trust Dated October 24, 2019, As Amended	Fred D. Rickman, Jr., Tracy E.D. Spencer and Fred D. Rickman, Jr. Revocable Trust Dated October 24, 2019, As Amended	No	No	Refinance
23	Loan	7	1	AutoZone Center	Isabelle T. Hessick, Lynn Hildabrand Hessick, Frederick A. Hessick, II and William H. Hessick, III	Isabelle T. Hessick, Lynn Hildabrand Hessick, Frederick A. Hessick, II and William H. Hessick, III	No	No	Refinance
24	Loan		1	Woodward Place	Gary R. Brinton, The Sugarhouse Trust and Brenton Salvesen	Gary R. Brinton, The Sugarhouse Trust and Brenton Salvesen	No	No	Refinance
25	Loan		1	Rittenhouse Multifamily	Damon Mascieri	Damon Mascieri	No	No	Refinance
26	Loan	28	1	Snapbox Storage Airship	Jacob Ramage	Jacob Ramage	No	No	Acquisition
27	Loan		1	Prunedale Self Storage - CA	Gary Fusari and Roy Yowell	Gary Fusari and Roy Yowell	No	No	Refinance
28	Loan	29	1	602 10th Ave	Zachary Baumgarten	Zachary Baumgarten	No	No	Refinance
29	Loan	30	1	160 West 72nd Street	Michael B. Kapon	Michael B. Kapon	No	No	Refinance
30	Loan	30	1	425 East Hebron Street	Qiu Yan Yang	Qiu Yan Yang	No	No	Acquisition

A-1-12

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS



Loan ID Number	Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Property Located Within a Qualified Opportunity Zone (Y/N)	Sources: Loan Amount ($)	Sources: Principal's New Cash Contribution ($)	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 ($)	Underwritten RevPAR ($)	Underwritten Hotel Occupancy (%)
1	Loan	5, 8, 11, A	1	CX - 250 Water Street		531,500,000	7,497,903	0	0	538,997,903	473,876,626	0	3,334,755	17,593,844	0	44,192,678	538,997,903	NAP	NAP	NAP	NAP
2	Loan	6, 8, 12, 30	1	Barbours Cut IOS		93,500,000	0	0	0	93,500,000	0	0	1,645,935	314,214	91,539,851	0	93,500,000	NAP	NAP	NAP	NAP
3	Loan	8, 13	1	SOMO Village		63,000,000	0	0	0	63,000,000	49,926,220	0	872,346	3,035,043	9,166,390	0	63,000,000	NAP	NAP	NAP	NAP
4	Loan	8, 14, 15	1	100 & 150 South Wacker Drive		100,000,000	36,009,159	0	0	136,009,159	128,288,899	0	872,363	6,847,896	0	0	136,009,159	NAP	NAP	NAP	NAP
5	Loan	8, 16	1	Pacific Design Center		245,000,000	0	20,000,000	0	265,000,000	159,759,913	0	3,702,852	16,988,449	84,548,786	0	265,000,000	NAP	NAP	NAP	NAP
6	Loan	17	1	Florida Hotel and Conference Center		35,000,000	994,878	0	0	35,994,878	35,187,017	0	241,344	566,517	0	0	35,994,878	NAP	120.40	83.07	69.0%
7	Loan	8, 10, 18	1	Cumberland Mall		180,000,000	0	0	0	180,000,000	160,491,051	0	1,638,600	2,254,938	15,615,412	0	180,000,000	NAP	NAP	NAP	NAP
8	Loan	8, 19, 30, B	1	Conair Glendale		100,000,000	0	0	0	100,000,000	0	0	1,328,535	81,141	98,590,324	0	100,000,000	NAP	NAP	NAP	NAP
9	Loan	8, 20, 30	1	Rialto Industrial		181,000,000	0	0	0	181,000,000	130,724,472	0	24,015,699	10,096,973	16,162,856	0	181,000,000	NAP	NAP	NAP	NAP
10	Loan	8, 30	1	Museum Tower		47,000,000	28,130,232	0	0	75,130,232	0	68,000,000	4,935,238	2,194,994	0	0	75,130,232	NAP	NAP	NAP	NAP
11	Loan	8, 21, 30	1	100 Jefferson Road		97,500,000	31,613,758	0	15,000,000	144,113,758	0	130,500,000	1,820,491	11,793,267	0	0	144,113,758	NAP	NAP	NAP	NAP
12	Loan	30	1	303 West Hurst Boulevard		26,500,000	0	0	0	26,500,000	0	0	741,718	4,864,230	20,894,052	0	26,500,000	NAP	NAP	NAP	NAP
13	Loan	8, 22, C	1	Metroplex		54,000,000	6,631,323	0	0	60,631,323	52,633,116	0	1,039,017	6,959,189	0	0	60,631,323	NAP	NAP	NAP	NAP
14	Loan	8, 9	1	3800 Horizon Boulevard		27,000,000	4,826,613	0	0	31,826,613	28,613,340	0	383,112	2,830,161	0	0	31,826,613	NAP	NAP	NAP	NAP
15	Loan	23, 24	1	Renaissance Charlotte SouthPark Hotel		20,500,000	0	0	0	20,500,000	19,955,875	0	348,829	0	195,296	0	20,500,000	12/31/2037	173.77	105.95	61.0%
16	Loan	8, 25, D	1	Heritage Plaza														NAP	NAP	NAP	NAP
17	Loan		1	Staybridge Suites Hillsboro – Orenco Station														3/7/2040	161.15	141.51	87.8%
18	Loan	26, E	1	Cornerstone Marketplace														NAP	NAP	NAP	NAP
19	Loan	F	1	Pecan Place Apartments														NAP	NAP	NAP	NAP
20	Loan	G	1	Watchfire														NAP	NAP	NAP	NAP
21	Loan		1	FedEx Ground - Lansing														NAP	NAP	NAP	NAP
22	Loan	27	1	Storage Xxtra Highway 154														NAP	NAP	NAP	NAP
23	Loan	7	1	AutoZone Center														NAP	NAP	NAP	NAP
24	Loan		1	Woodward Place														NAP	NAP	NAP	NAP
25	Loan		1	Rittenhouse Multifamily														NAP	NAP	NAP	NAP
26	Loan	28	1	Snapbox Storage Airship														NAP	NAP	NAP	NAP
27	Loan		1	Prunedale Self Storage - CA														NAP	NAP	NAP	NAP
28	Loan	29	1	602 10th Ave														NAP	NAP	NAP	NAP
29	Loan	30	1	160 West 72nd Street														NAP	NAP	NAP	NAP
30	Loan	30	1	425 East Hebron Street														NAP	NAP	NAP	NAP

A-1-13

Annex A-1 - CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS

Loan ID Number

Property
Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

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 (%)

Coop - Committed Secondary Debt

Coop - Rental Value

Coop - LTV as Rental

Coop - Unsold Percent

Coop - Sponsor Units

Coop - Investor Units

Coop - Coop Units

Coop - Sponsor/Investor Carry

Loan

5, 8, 11, A

CX - 250 Water Street

NAP

Loan

6, 8, 12, 30

Barbours Cut IOS

NAP

Loan

8, 13

SOMO Village

NAP

Loan

8, 14, 15

100 & 150 South Wacker Drive

NAP

Loan

8, 16

Pacific Design Center

NAP

Loan

Florida Hotel and Conference Center

119.99

82.79

69.0%

118.94

76.92

64.7%

120.56

40.30

33.4%

Loan

8, 10, 18

Cumberland Mall

NAP

Loan

8, 19, 30, B

Conair Glendale

NAP

Loan

8, 20, 30

Rialto Industrial

NAP

Loan

8, 30

Museum Tower

NAP

Loan

8, 21, 30

100 Jefferson Road

NAP

Loan

303 West Hurst Boulevard

NAP

Loan

8, 22, C

Metroplex

NAP

Loan

8, 9

3800 Horizon Boulevard

NAP

Loan

23, 24

Renaissance Charlotte SouthPark Hotel

173.77

105.95

61.0%

169.29

99.97

59.1%

140.91

62.13

44.1%

Loan

8, 25, D

Heritage Plaza

NAP

Loan

Staybridge Suites Hillsboro – Orenco Station

161.15

141.51

87.8%

156.59

136.74

87.3%

123.72

73.41

59.3%

Loan

26, E

Cornerstone Marketplace

NAP

Loan

Pecan Place Apartments

NAP

Loan

Watchfire

NAP

Loan

FedEx Ground - Lansing

NAP

Loan

Storage Xxtra Highway 154

NAP

Loan

AutoZone Center

NAP

Loan

Woodward Place

NAP

Loan

Rittenhouse Multifamily

NAP

Loan

Snapbox Storage Airship

NAP

Loan

Prunedale Self Storage - CA

NAP

Loan

602 10th Ave

NAP

Loan

160 West 72nd Street

NAP

Loan

425 East Hebron Street

NAP

A-1-14

	MSWF 2023-1
	Footnotes to Annex A-1


(1)	WFB—Wells Fargo Bank, National Association; AREF 2—Argentic Real Estate Finance 2 LLC; MSBNA—Morgan Stanley Bank, N.A.; MSMCH—Morgan Stanley Mortgage Capital Holdings LLC; SMC—Starwood Mortgage Capital LLC; AREF—Argentic Real Estate Finance LLC; LMF—LMF Commercial, LLC.

(2)	Certain tenants may not be in occupancy or may be in free rent periods. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in this prospectus for information regarding the 5 largest tenants at mortgaged properties securing the 15 largest Mortgage Loans and tenants that occupy 50% or more of the net rentable area at their respective mortgaged properties which are not in occupancy or are in free rent periods.

(3)	The Administrative Fee Rate includes the master servicing fee rate, operating advisor fee rate, certificate administrator/trustee fee rate, asset representations reviewer fee rate, primary or sub-servicing servicing fee rate, CREFC® license fee rate and, with respect to any non-serviced Mortgage Loan, pari passu loan primary servicing fee rate, in each case applicable to the related Mortgage Loan.

(4)	Certain tenants may have lease termination options that are exercisable prior to the originally stated expiration date of the subject lease. See "Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Terminations” for information regarding certain lease termination options affecting the 5 largest tenants at mortgaged properties securing the 15 largest Mortgage Loans and tenants that occupy 50% or more of the net rentable area at their respective mortgaged properties.

(5)	With respect to Mortgage Loan No. 1, CX - 250 Water Street, the Whole Loan is structured with an Anticipated Repayment Date of February 10, 2033 and a final maturity date of February 10, 2038. The initial interest rate for the CX - 250 Water Street Whole Loan is 5.5095% per annum. After the ARD, the interest rate will increase to the greater of (i) 7.5095% and (ii) the sum of the swap rate in effect on the ARD plus 4.2800%. The metrics presented above are calculated based on the ARD.

(6)	With respect to Mortgage Loan No. 2, Barbours Cut IOS, the first payment date is July 6, 2023. On the Closing Date, AREF 2 will deposit sufficient funds to pay the amount of interest that would be due with respect to a June 6, 2023 payment. IO Period, Original Term to Maturity and Prepayment Provisions are inclusive of the additional June 6, 2023 interest-only payment funded by AREF 2 on the Closing Date.

(7)	With respect to Mortgage Loan No. 23, AutoZone Center, the first payment date is July 1, 2023. On the Closing Date, MSMCH will deposit sufficient funds to pay the amount of interest that would be due with respect to a June 1, 2023 payment. IO Period, Original Term to Maturity and Prepayment Provisions are inclusive of the additional June 1, 2023 interest-only payment funded by MSMCH on the Closing Date.

(8)	With respect to Mortgage Loan No. 1, CX - 250 Water Street, Mortgage Loan No. 2, Barbours Cut IOS, Mortgage Loan No. 3, SOMO Village, Mortgage Loan No. 4, 100 & 150 South Wacker Drive, Mortgage Loan No. 5, Pacific Design Center, Mortgage Loan No. 7, Cumberland Mall, Mortgage Loan No. 8, Conair Glendale, Mortgage Loan No. 9, Rialto Industrial, Mortgage Loan No. 10, Museum Tower, Mortgage Loan No. 11, 100 Jefferson Road, Mortgage Loan No. 13, Metroplex, Mortgage Loan No. 14, 3800 Horizon Boulevard and Mortgage Loan No. 16, Heritage Plaza, such Mortgage Loans are part of a whole loan related to the Issuing Entity. For purposes of the statistical information set forth in this prospectus as to such Mortgage Loans, all LTV, DSCR, Debt Yield and Loan Per Unit ($) calculations are in each case based on the subject Mortgage Loan together with any related Pari Passu Companion Loan, but (unless otherwise indicated) without regard to any related Subordinate Companion Loan(s). For further information, see “Description of the Mortgage Pool—The Whole Loans—General”, “—The Serviced Pari Passu Whole Loans”, “—The Non-Serviced Pari Passu Whole Loans,” “The Pacific Design Center Pari Passu-A/B Whole Loan” and “Pooling and Servicing Agreement” or “Pooling and Servicing Agreement—Servicing of the Non-Serviced Mortgage Loans,” and “Servicing of the Servicing Shift Mortgage Loans, The CX - 250 Water Street Whole Loan and the Heritage Plaza Whole Loan,” as applicable, in this prospectus.

(9)	With respect to Mortgage Loan No. 14, 3800 Horizon Boulevard, the related loan documents permit a partial collateral release subject to LTV, DSCR and/or Debt Yield tests, or other release conditions in connection with the related Mortgage Loan. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Defeasance” and “—Releases; Partial Releases; Property Additions” in this prospectus.

(10)	With respect to Mortgage Loan No. 7, Cumberland Mall, the related loan documents permit an outparcel or other release without prepayment fee or yield maintenance premium or defeasance, and also permit a substitution of parcels at the mortgaged property. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Releases; Partial Releases; Property Additions” in this prospectus.

(11)	With respect to Mortgage Loan No. 1, CX - 250 Water Street, the Appraised Value represents the Prospective Market Value Upon Completion & Stabilization, which assumes that, as of January 1, 2023, remaining construction balances are paid, outstanding tenant improvements are paid to the tenant, the tenant has commenced rent payments, and retail space leasing costs are paid, all of which have occurred other than payment of $5,932,952 for base building work and $7,160,274 for tenant improvements and future retail leasing costs. Such amounts for base building work and tenant improvements were fully reserved by the lender at loan origination. The appraisal concluded to an “as-is” appraised value of $960,000,000 as of May 4, 2022. The

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	“as-is” appraised value results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 55.4% for the CX - 250 Water Street Whole Loan. The appraisal concluded to an “as dark” appraised value of $920,000,000 as of May 4, 2022. The “as dark” appraised value results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 57.8% for the CX - 250 Water Street Whole Loan.

(12)	With respect to Mortgage Loan No. 2, Barbours Cut IOS, the mortgaged property is subject to a ground lease that commenced in December 1999. The ground lease is between a third-party lessor (Dorothy Hearon) and Barbours Cut IOS, LLC, one of the borrowers, as lessee for approximately 6.25 acres and is set to expire on December 31, 2043. The lessee may renew the term for six consecutive renewal options, each of ten years, followed by a final renewal term of nine years. The current monthly ground rent is approximately $18,738. Rent will be adjusted positively or negatively every 10 years according to the percentage change in the consumer price index for urban consumers with the geographic consumer price index of Houston published by the Bureau of Labor Statistics.

(13)	With respect to Mortgage Loan No. 3 SOMO Village, the Appraised Value represents the As-Is Value of the real property and the present value of energy savings from the solar panels, which equates to $10,170,000. The real property’s As-Is Value of $93,300,000 equates to a Cut-off Date LTV Ratio of 67.5% and a Maturity Date LTV Ratio of 63.7%.

(14)	With respect to Mortgage Loan No. 4, 100 & 150 South Wacker Drive, occupancy is being shown to exclude building owners and managers association (“BOMA”), storage, telecom and amenity space (occupancy will only be based on office and retail SF). Occupancy including such space is 70.7% as of December 1, 2022.

(15)	With respect to Mortgage Loan No. 4, 100 & 150 South Wacker Drive, once every 12 month period during the term of the loan, the Debt Service Payment Grace Period to Impose Late Charge will be two business days.

(16)	With respect to Mortgage Loan No. 5, Pacific Design Center, the mortgaged property is comprised of 467,582 square feet of design showroom space, 321,786 square feet of office space, 213,502 square feet of lab space, and 50,347 square feet of other space (other space includes non-revenue space, telecommunications, parking, storage, display, and other).

(17)	With respect to Mortgage Loan No. 6, Florida Hotel and Conference Center, the FF&E reserves are held with the hotel manager pursuant to the hotel management agreement. If at any time the FF&E reserve is not held with the hotel manager, then the borrower is required to deposit on each monthly payment date an amount equal to 1/12th of 5% of the operating income for the mortgaged property for the prior calendar year.

(18)	With respect to Mortgage Loan No. 7, Cumberland Mall, the fifth largest tenant by underwritten base rent, Foot Locker, had its lease expire on April 30, 2023. Foot Locker is still open and operating in its leased space while it continues negotiating a lease extension with the landlord. There is no assurance that Foot Locker will continue to be open and operate its space or that it will reach an agreement to extend its lease with the landlord.

(19)	With respect to Mortgage Loan No. 8, Conair Glendale, the single tenant, Conair, encompasses two separate buildings at the mortgaged property. The underwriting file’s rent roll breaks out each of the two buildings.

(20)	With respect to Mortgage Loan No. 9, Rialto Industrial, the mortgaged property is located in a Qualified Opportunity Zone.

(21)	With respect to Mortgage Loan No. 11, 100 Jefferson Road, the Appraised Value represents the prospective value upon completion/stabilization as of August 1, 2023 based on the extraordinary assumption that J&J Farms Creamery will complete the buildout of its space. The borrower sponsors have provided a completion guaranty and the estimated cost of the buildout was reserved for at origination. The Cut-off Date LTV Ratio and Maturity Date LTV Ratio are calculated based on the value upon completion/stabilization. The “As-Is” appraised value is $163,600,000 which results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 59.6% and 59.6%, respectively.

(22)	With respect to Mortgage Loan No. 13, Metroplex, once per calendar year during the term of the loan, the Debt Service Payment Grade Period to Impose Late Charge will be five business days.

(23)	With respect to Mortgage Loan No. 15, Renaissance Charlotte SouthPark Hotel, the FF&E reserves are held with the hotel manager pursuant to the hotel management agreement. If at any time the FF&E reserve is not held with the hotel manager, then the borrower is required to deposit on each monthly payment date an amount equal to the greater of (i) $55,694, and (ii) 1/12th of 5% of the underwritten revenue for the prior fiscal year.

(24)	With respect to Mortgage Loan No. 15, Renaissance Charlotte SouthPark Hotel, the related mortgaged property operates under a management agreement with Renaissance Hotel Operating Company, an affiliate of the Marriott brand, which expires December 31, 2027 and has one 10-year extension option which will automatically renew, unless the manager has provided prior written notice of its election not to renew at least 300 days prior to the expiration.

(25)	With respect to Mortgage Loan No. 16, Heritage Plaza, once per calendar year during the term of the loan, the Debt Service Payment Grace Period to Impose Late Charge will be five business days.

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(26)	With respect to Mortgage Loan No. 18, Cornerstone Marketplace, the borrower was required at origination to escrow (a) $1,292,048 relating to certain tenant improvements and leasing commissions under the Sportsman’s Warehouse lease, (b) $308,968 relating to free rent under the Sportsman’s Warehouse lease, and (c) $83,604 representing the difference between Chick-fil-A’s current rent and the underwritten future rent, which in each case are held by a title company pursuant to certain escrow agreements, and are not in the possession, or under the control, of the lender or its servicer. The borrower has collaterally assigned its rights in the escrow agreements to the lender.

(27)	With respect to Mortgage Loan No. 22, Storage Xxtra Highway 154, in addition to self-storage units, the mortgaged property also includes small office suites that are leased on a monthly basis that comprise 33.8% of the gross income.

(28)	With respect to Mortgage Loan No. 26, Snapbox Storage Airship, 16 of the 381 units are RV parking spaces.

(29)	With respect to Mortgage Loan No. 28, 602 10th Ave, the Units/SF and Cut-Off Date Balance per Unit or SF is based on the multifamily portion of the property, which consists of 14 units. The 602 10th Ave Property also contains 800 SF of retail space, leased to 1 tenant, representing 18.3% of UW Effective Gross Income. The retail tenant’s % of NRA is based on the retail portion of the property only.

(30)	With respect to Mortgage Loan No. 2 , Barbours Cut IOS, Mortgage Loan No. 8, Conair Glendale, Mortgage Loan No. 9, Rialto Industrial, Mortgage Loan No. 10, Museum Tower, Mortgage Loan No. 11, 100 Jefferson Road, Mortgage Loan No. 12 , 303 West Hurst Boulevard, Mortgage Loan No. 29, 160 West 72nd Street, and Mortgage Loan No. 30, 425 East Hebron Street, either the sole tenant, or one of the five largest tenants by net rentable area, is an affiliate of the related borrower sponsor. With respect to Mortgage Loan No. 3, SOMO Village, three tenants, comprising 58,880 SF (9.9% of NRA and 17.4% of underwritten base rent), are affiliates of the related borrower sponsor.

A.	“Yield Maintenance Amount” shall mean the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Open Prepayment Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date. “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the lesser of (i) the Treasury Rate and (ii) the Swap Rate, each when compounded semiannually. “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Repayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Open Prepayment Date. (In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.)

B.	Applicable Percentage” shall mean, as applicable, (i) in connection with any prepayment made pursuant to Section 2.7(d) hereof and provided that no Event of Default then exists, 1%, or (ii) in connection with any other prepayment of the Debt, 3%. “Yield Maintenance Premium” shall mean an amount equal to the greater of the following two amounts: (a) an amount equal to the Applicable Percentage of the amount prepaid; or (b) an amount equal to (i) the amount, if any, by which the sum of the present values as of the prepayment date of all unpaid principal and interest payments required hereunder, calculated by discounting such payments from the respective dates each such payment was due hereunder (or, with respect to the payment required on the Open Period Start Date (assuming the outstanding principal balance of the Loan is due on the Open Period Start Date), from the Open Period Start Date) back to the prepayment date at a discount rate equal to the Periodic Treasury Yield (defined below) exceeds the outstanding principal balance of the Loan as of the prepayment date, multiplied by (ii) a fraction whose numerator is the amount prepaid and whose denominator is the outstanding principal balance of the Loan as of the prepayment date. For purposes of the foregoing, “Periodic Treasury Yield” shall mean (y) the annual yield to maturity of the actively traded non-callable United States Treasury fixed interest rate security (other than any such security which can be surrendered at the option of the holder at face value in payment of federal estate tax or which was issued at a substantial discount) that has a maturity closest to (whether before, on or after) the Open Period Start Date (or if two or more such securities have maturity dates equally close to the Open Period Start Date, the average annual yield to maturity of all such securities), as reported in The Wall Street Journal or other authoritative publication or news retrieval service on the fifth Business Day preceding the prepayment date, divided by (z) 12. Lender’s calculation of the Yield Maintenance Premium, and all component calculations, shall be conclusive and binding on Borrower absent manifest error. “Permitted Prepayment Date” shall mean the earlier to occur of (i) the third (3rd) anniversary of the Monthly Payment Date immediately following the Closing Date and (ii) the date that is two (2) years from the “startup day” (within the meaning of Section 860G(a)(9) of the IRS Code) of the REMIC Trust established in connection with the last Securitization involving any portion of or interest in the Loan. “Open Period Start Date” shall have the meaning set forth in Section 2.7(a) hereof. 2.7 Prepayments. (a) Voluntary Prepayments. Except as otherwise provided herein, Borrower shall not have the right to prepay the Loan in whole or in part. On and after the Monthly Payment Date occurring in October, 2032 (the “Open Period Start Date”), Borrower may, provided no Event of Default has occurred and is continuing, at its option and upon not less than ten (10) Business Days’ prior notice to Lender (or such shorter period of time as may be permitted by Lender in its sole discretion), prepay the Debt in whole on any date without payment of the Yield Maintenance Premium. Any prepayment received by Lender on a date other than a Monthly Payment Date shall include interest which would have accrued thereon to the next Monthly Payment Date (such amounts, the “Interest Shortfall”). (d) Prepayments Prior to Open Period Start Date. Subject to Section 2.7(c), on and after the Permitted Prepayment Date, through but not including the Open Period Start Date, Borrower may, at its option and upon at least

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	thirty (30) days’ (and no greater than ninety (90) days’) prior notice to Lender (which notice shall specify the proposed prepayment date), prepay the Debt in whole (but not in part), on any date, provided that such prepayment shall be accompanied by (i) the Yield Maintenance Premium, (ii) Interest Shortfall, (iii) the outstanding principal balance, (iv) all accrued and unpaid interest and (v) other amounts payable under the Loan Documents. If a notice of prepayment is given by Borrower to Lender pursuant to this Section 2.7(d), the amount designated for prepayment and all other sums required under this Section 2.7(d) shall be due and payable on the proposed prepayment date.

C.	Voluntary Prepayments. Provided that no Event of Default shall be continuing and that Borrower has not previously effectuated a Defeasance, Borrower shall have the right, on any Business Day, on or after the Prepayment Lockout Expiration Date to prepay the Debt in whole, but not in part (which shall include, if such payment is made prior to the Open Prepayment Date, the Prepayment Fee), provided that Borrower shall deliver to Lender a Prepayment Notice. “Prepayment Fee” shall mean an amount equal to the greater of (i) the Yield Maintenance Amount and (ii) one percent (1%) of the unpaid principal balance of the Note as of such Repayment Date. “Yield Maintenance Amount” shall mean the present value, as of the Repayment Date, of the remaining scheduled payments of principal and interest from the Repayment Date through the Stated Maturity Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Repayment Date.

D.	“Prepayment Premium” shall mean, with respect to any prepayment of the Loan made prior to the Open Prepayment Date, an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) one percent (1%) of the unpaid principal balance of the Note as of the Prepayment Date. “Open Prepayment Date” shall mean November 6, 2027. “Yield Maintenance Amount” shall mean the present value, as of the Prepayment Date, of the remaining scheduled payments of principal and interest from the Prepayment Date through the Open Prepayment Date (and including the balloon payment due on the Maturity Date as if such balloon payment was due on the Open Prepayment Date) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid on the Prepayment Date. “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Treasury Rate, when compounded semi annually. “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Open Prepayment Date. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.

E.	“Prepayment Fee” shall mean an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) (A) if no Event of Default has occurred and is continuing as of the Prepayment Date, one percent (1%) of the unpaid principal balance of the Note as of the Prepayment Date or (B) if an Event of Default has occurred and is continuing as of the Prepayment Date, five percent (5%) of the unpaid principal balance of the Note as of the Prepayment Date. “Yield Maintenance Amount” shall mean the present value, as of the Prepayment Date, of the remaining scheduled payments of principal and interest from the Prepayment Date through the Stated Maturity Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid. “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Treasury Rate when compounded semi-annually. “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Stated Maturity Date. (In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.)

F.	“Prepayment Fee” shall mean an amount equal to the greater of (i) the Yield Maintenance Amount, or (ii) (A) during the continuation of an Event of Default, five percent (5%) of the unpaid principal balance of the Note as of the Prepayment Date or (B) otherwise, one percent (1%) of the unpaid principal balance of the note as of the Prepayment Date. “Yield Maintenance Amount” shall mean the present value, as of the Prepayment Date, of the remaining scheduled payments of principal and interest from the Prepayment Date through the Stated Maturity Date (including any balloon payment) determined by discounting such payments at the Discount Rate, less the amount of principal being prepaid. “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Treasury Rate when compounded semiannually. “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15 Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Stated Maturity Date. (In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Treasury Rate.)

G.	“Yield Maintenance Premium” shall mean an amount equal to the greater of (i) one percent (1%) of the principal amount of the Loan being prepaid and (ii) an amount equal to the present value as of the Prepayment Date of the Calculated Payments from the Prepayment Date through the Stated Maturity Date determined by discounting such payments at the Discount Rate. As used in this definition, the term “Prepayment Date” shall mean the date on which prepayment is made. As used in this definition, the term “Calculated Payments” shall mean the monthly payments of interest only which would be due based on the principal amount of the Loan being prepaid on the Prepayment Date and assuming an interest rate per annum equal to the difference (if such difference is greater than zero) between (y) the Interest Rate and (z) the Yield Maintenance Treasury Rate. As used in this definition, the term “Discount Rate” shall mean the rate which, when compounded monthly, is equivalent to the Yield Maintenance Treasury Rate, when compounded semi-annually. As used in this definition, the term “Yield Maintenance Treasury Rate” shall mean the yield calculated by Lender by the linear interpolation of the yields, as reported in the Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities

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for the week ending prior to the Prepayment Date, of U.S. Treasury Constant Maturities with maturity dates (one longer or one shorter) most nearly approximating the Stated Maturity Date. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the Yield Maintenance Treasury Rate. In no event, however, shall Lender be required to reinvest any prepayment proceeds in U.S. Treasury obligations or otherwise.

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MSWF Commercial Mortgage Trust 2023-1 FWPFree writing prospectus