BMO 2023-5C2 Mortgage Trust FWP Free writing prospectus

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-255934-08

BMO 2023-5C2 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) 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 BMO Capital Markets Corp., any other underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-866-864-7760 (8 a.m. – 5 p.m. EST).

Nothing in this document constitutes an offer of securities for sale in any jurisdiction where the offer or sale is not permitted. The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities. These materials are subject to change, completion, supplement or amendment from time to time.

STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION

The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, SG Americas Securities, LLC, UBS Securities, LLC, Academy Securities, Inc., Bancroft Capital, LLC, Drexel Hamilton, LLC or any of their respective affiliates, make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.

This free writing prospectus contains certain forward-looking statements. If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements. Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated. Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering. The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover. We have no obligation to update or revise any forward-looking statement.

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

The information herein is preliminary and may be supplemented or amended prior to the time of sale.

In addition, the Offered Certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined, or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a "when, as and if issued" basis.

The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.

The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.

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BMO 2023-5C2

Annex A

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

Zip Code

Loan

7, 12, 13, 16, 19, 26, 30

Piazza Alta

9.7%

100.0%

SGFC

NAP

1099 Germantown Avenue

Philadelphia

19123

Loan

1, 7, 12, 18

Westfarms

8.4%

100.0%

GSBI, WFBNA

GSMC

NAP

1500 New Britain Avenue

West Hartford

Hartford

06110

Loan

13, 20

Shadow Lake Towne Center

8.0%

100.0%

LMF

NAP

7775 Olson Drive

Papillion

Sarpy

68046

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

8.0%

100.0%

BMO, SMC

NAP

400-500 Arcola Road

Collegeville

Montgomery

19426

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

7.5%

CREFI, BMO

NAP

Various

New York

Various

5.01

Property

369 Lexington Avenue

4.1%

54.5%

369 Lexington Avenue

New York

10016

5.02

Property

2 West 46th Street

3.4%

45.5%

2 West 46th Street

New York

10036

Loan

7, 19, 20, 23

Lake Merritt Plaza

5.8%

100.0%

GSBI

GSMC

NAP

1999 Harrison Street

Oakland

Alameda

94612

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

4.1%

100.0%

BMO

NAP

275 Baker Street Northwest & 250 Park Avenue West

Atlanta

Fulton

30313

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

3.9%

CREFI

NAP

Various

Maricopa

Various

8.01

Property

Gilbert Gateway Towne Center

2.2%

57.4%

4684-5114 South Power Road

Gilbert

Maricopa

85212

8.02

Property

Scottsdale Towne Center

1.6%

42.6%

15454-15784 North Frank Lloyd Wright Boulevard

Scottsdale

Maricopa

85260

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

3.9%

100.0%

UBS AG

NAP

200 Schultz Drive and 331 Newman Springs Road

Red Bank

Monmouth

07701

Loan

19, 23, 33

Lacey Market Square

3.4%

100.0%

CREFI

NAP

700 Sleater Kinney Road Southeast

Lacey

Thurston

98503

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

3.0%

DBRI

GACC

NAP

Various

11.01

Property

West End Social

0.7%

23.5%

1350 Highway 62 East

Mountain Home

Baxter

72653

11.02

Property

The Heights

0.5%

16.7%

2105 Hubert Redburn Drive

West Plains

Howell

65775

11.03

Property

OZ+MO Commons

0.4%

12.8%

17483 Business 13

Branson West

Stone

65737

11.04

Property

Wyota Commons

0.3%

10.3%

1221 Millcreek Road

Lebanon

Laclede

65536

11.05

Property

Sylamore Studios

0.3%

10.0%

428 Sylamore Avenue

Mountain View

Stone

72560

11.06

Property

Montauk Studios

0.3%

9.6%

209 South Highway 63

Licking

Texas

65542

11.07

Property

The Dels

0.3%

8.4%

145 South Main Street

Mountain Home

Baxter

72653

11.08

Property

Bull Shoals

0.1%

3.0%

1104 Bull Shoals Dam Boulevard

Bull Shoals

Marion

72619

11.09

Property

Center City Commons

0.1%

2.9%

548 Highway 62 East

Mountain Home

Baxter

72653

11.10

Property

North Village

0.1%

2.9%

715 Highway 5 North

Mountain Home

Baxter

72653

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

2.7%

CREFI

Group B

NAP

Various

Keyport

Monmouth

07735

12.01

Property

3 Cass Street

1.9%

70.0%

3 Cass Street

Keyport

Monmouth

07735

12.02

Property

120 Francis Street

0.8%

30.0%

120 Francis Street

Keyport

Monmouth

07735

Loan

New Mountain - Cathay Industries

2.6%

100.0%

GSBI

GSMC

Group A

NAP

3700 East Olympic Boulevard

Los Angeles

90023

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

2.6%

GSBI, WFBNA

GSMC

NAP

Various

14.01

Property

2615 East 12th Street

0.5%

21.3%

2615 East 12th Street

Oakland

Alameda

94606

14.02

Property

Parkglenn Self-Storage

0.3%

10.7%

10144 Parkglenn Way

Parker

Douglas

80134

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

0.3%

10.2%

630 MacArthur Boulevard & 59 Jonathan Bourne Drive

Bourne

Barnstable

02559

14.04

Property

30690 Aldine Westfield Rd

0.3%

10.0%

30690 Aldine Westfield Road

Spring

Montgomery

77386

14.05

Property

13404 E Broncos Pkwy

0.2%

8.3%

13404 East Broncos Parkway

Englewood

Arapahoe

80112

14.06

Property

3803 N Navarro St

0.2%

7.4%

3803 North Navarro Street

Victoria

77901

14.07

Property

2102 NW Stallings Dr

0.2%

5.9%

2102 Northwest Stallings Drive

Nacogdoches

75964

14.08

Property

2005 W Wheeler Ave

0.1%

5.6%

2005 West Wheeler Avenue

Aransas Pass

San Patricio

78336

14.09

Property

3817 Gulf Freeway

0.1%

5.2%

3817 Gulf Freeway

Dickinson

Galveston

77539

14.10

Property

1600 E General Cavazos Blvd

0.1%

5.0%

1600 East General Cavazos Boulevard

Kingsville

Kleberg

78363

14.11

Property

11615 Rubina Pl

0.1%

4.0%

11615 Rubina Place

Waldorf

Charles

20602

14.12

Property

4222 N Main St

0.1%

3.8%

4222 North Main Street

Baytown

Harris

77521

14.13

Property

12 Irongate Drive

0.1%

2.6%

12 Irongate Drive

Waldorf

Charles

20602

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

2.4%

100.0%

UBS, LMF, BOA

BMO, LMF

NAP

11 West 42nd Street

New York

10036

Loan

6, 16

New Mountain - Alliance

2.3%

GSBI

GSMC

Group A

NAP

Various

16.01

Property

11126 McCormick Rd

1.2%

52.4%

11126 McCormick Road

Hunt Valley

Baltimore

21031

16.02

Property

4775 Aircenter Cir

1.1%

47.6%

4775 Aircenter Circle

Reno

Washoe

89502

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

2.3%

100.0%

SGFC

NAP

14063 East Brown Street

Riverside

92508

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

2.3%

100.0%

GSBI, BANA

GSMC

NAP

11800 West Broad Street

Richmond

Henrico

23233

Loan

19, 20

601 Hawaii St

2.0%

100.0%

DBRI

GACC

NAP

601 Hawaii Street

El Segundo

Los Angeles

90245

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

1.9%

100.0%

DBRI

GACC

NAP

13146 Ballantyne Corporate Place

Charlotte

Mecklenburg

28277

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

1.6%

CREFI

Group B

NAP

Various

21.01

Property

2011 8th Street

1.1%

65.3%

2011 8th Street

North Bergen

Hudson

07047

21.02

Property

183 Monroe Street

0.4%

22.3%

183 Monroe Street

Passaic

07055

21.03

Property

2137-2143 Cortelyou Road

0.2%

12.5%

2137-2143 Cortelyou Road

Brooklyn

Kings

11126

Loan

10, 19

2219 N Hamilton Avenue

1.4%

100.0%

GSBI

GSMC

NAP

2219 North Hamilton Avenue

Chicago

Cook

60647

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

1.3%

100.0%

BMO, CREFI

BMO

NAP

200-210 Hudson Street

Jersey City

Hudson

07311

Loan

16, 18, 20

4041 Linq Lane

1.3%

100.0%

GACC

NAP

4041 Linq Lane

Las Vegas

Clark

89109

Loan

325 West Side Avenue

1.2%

100.0%

DBRI

GACC

NAP

325 West Side Avenue

Jersey City

Hudson

07305

Loan

The Lisbon

1.0%

100.0%

SMC

NAP

4311 West Vine Street

Kissimmee

Osceola

34746

Loan

19, 24

8729 Aviation

1.0%

100.0%

UBS AG

NAP

8729 Aviation Boulevard

Inglewood

Los Angeles

90301

Loan

1815-1817 Putnam Avenue

0.7%

100.0%

LMF

NAP

1815-1817 Putnam Avenue

Ridgewood

Queens

11385

Loan

16, 27

2046 Mapes Avenue

0.7%

100.0%

SMC

NAP

2046 Mapes Avenue

Bronx

10460

Loan

Richland Garden Apartments

0.6%

100.0%

SGFC

NAP

1749 Richland Avenue

Ceres

Stanislaus

95307

Loan

2523-2525 Olinville Avenue

0.6%

100.0%

SMC

NAP

2523-2525 Olinville Avenue

Bronx

10467

Loan

16, 19

Hampton Inn Douglas

0.6%

100.0%

SMC

NAP

1604 Peterson Avenue South

Douglas

Coffee

31533

Loan

2, 27

Hotel Condor

0.5%

100.0%

SMC

NAP

56 Franklin Avenue

Brooklyn

Kings

11205

Loan

Deerfield Estates MHP

0.4%

100.0%

UBS AG

NAP

7701 South U.S. Highway 35

La Porte

46350

Loan

2, 10, 13, 16

84 Hoyt Street

0.3%

100.0%

LMF

NAP

84 Hoyt Street

Brooklyn

Kings

11201

A-1

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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 %	Net Mortgage Rate %
					2	2			3			6, 7	6, 7	6, 7		8
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	Multifamily	Luxury High Rise	2022 - 2023	NAP	695	Units	267,482.01	75,000,000	75,000,000	75,000,000	4.67614%	0.016220%	4.65992%
2	Loan	1, 7, 12, 18	1	Westfarms	Retail	Super Regional Mall	1974	2013	501,990	SF	482.08	65,000,000	65,000,000	65,000,000	7.79500%	0.016220%	7.77878%
3	Loan	13, 20	1	Shadow Lake Towne Center	Retail	Anchored	2007	NAP	531,557	SF	117.58	62,500,000	62,500,000	62,500,000	6.40000%	0.016220%	6.38378%
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	Mixed Use	Office/Lab	1900, 1992, 2003, 2007	NAP	1,853,053	SF	51.27	62,500,000	62,500,000	62,500,000	7.29000%	0.016220%	7.27378%
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	Office	CBD	Various	Various	302,093	SF	335.82	58,000,000	58,000,000	58,000,000	7.96000%	0.016220%	7.94378%
5.01	Property		1	369 Lexington Avenue	Office	CBD	1937	2018	157,122	SF		31,586,989	31,586,989	31,586,989
5.02	Property		1	2 West 46th Street	Office	CBD	1926	2011	144,971	SF		26,413,011	26,413,011	26,413,011
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	Office	CBD	1985	2015	489,777	SF	163.34	45,000,000	45,000,000	45,000,000	8.01220%	0.016220%	7.99598%
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	Hospitality	Full Service	2008	2019	242	Rooms	163,223.14	31,500,000	31,500,000	31,500,000	8.39000%	0.016220%	8.37378%
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	Retail	Anchored	Various	Various	432,068	SF	187.47	30,000,000	30,000,000	30,000,000	7.85000%	0.024970%	7.82503%
8.01	Property		1	Gilbert Gateway Towne Center	Retail	Anchored	2005	2010	263,978	SF		17,222,222	17,222,222	17,222,222
8.02	Property		1	Scottsdale Towne Center	Retail	Anchored	1995	NAP	168,090	SF		12,777,778	12,777,778	12,777,778
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	Office	Suburban	1984-1985, 1990	2021	553,039	SF	99.45	30,000,000	30,000,000	30,000,000	7.98500%	0.016220%	7.96878%
10	Loan	19, 23, 33	1	Lacey Market Square	Retail	Anchored	1978, 1989, 1990, 1991, 1992	2000	276,499	SF	94.39	26,100,000	26,100,000	26,100,000	8.06000%	0.016220%	8.04378%
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	Multifamily	Low Rise	Various	Various	523	Units	45,219.89	23,650,000	23,650,000	23,650,000	7.41400%	0.016220%	7.39778%
11.01	Property		1	West End Social	Multifamily	Low Rise	1968	2022	100	Units		5,553,000	5,553,000	5,553,000
11.02	Property		1	The Heights	Multifamily	Low Rise	1964	2021	117	Units		3,939,000	3,939,000	3,939,000
11.03	Property		1	OZ+MO Commons	Multifamily	Low Rise	1977	2022	66	Units		3,026,000	3,026,000	3,026,000
11.04	Property		1	Wyota Commons	Multifamily	Low Rise	1967	2022	50	Units		2,432,000	2,432,000	2,432,000
11.05	Property		1	Sylamore Studios	Multifamily	Low Rise	1980	2022	55	Units		2,362,000	2,362,000	2,362,000
11.06	Property		1	Montauk Studios	Multifamily	Low Rise	2000	2022	52	Units		2,272,000	2,272,000	2,272,000
11.07	Property		1	The Dels	Multifamily	Low Rise	1960-1970	2021	43	Units		1,979,000	1,979,000	1,979,000
11.08	Property		1	Bull Shoals	Multifamily	Low Rise	1953	2022	16	Units		702,000	702,000	702,000
11.09	Property		1	Center City Commons	Multifamily	Low Rise	1960	2022	14	Units		696,000	696,000	696,000
11.10	Property		1	North Village	Multifamily	Low Rise	2020	NAP	10	Units		689,000	689,000	689,000
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	Industrial	Warehouse	Various	Various	196,671	SF	106.78	21,000,000	21,000,000	21,000,000	7.84000%	0.016220%	7.82378%
12.01	Property		1	3 Cass Street	Industrial	Warehouse	1920	1980	121,395	SF		14,700,000	14,700,000	14,700,000
12.02	Property		1	120 Francis Street	Industrial	Warehouse	1900	2020	75,276	SF		6,300,000	6,300,000	6,300,000
13	Loan	16	1	New Mountain - Cathay Industries	Industrial	Manufacturing/Warehouse	1924	1999	218,000	SF	94.13	20,520,000	20,520,000	20,520,000	6.12320%	0.016220%	6.10698%
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	Self Storage	Self Storage	Various	Various	832,976	SF	102.04	20,000,000	20,000,000	20,000,000	7.03000%	0.016220%	7.01378%
14.01	Property		1	2615 East 12th Street	Self Storage	Self Storage	1975	2004	88,480	SF		4,258,824	4,258,824	4,258,824
14.02	Property		1	Parkglenn Self-Storage	Self Storage	Self Storage	2008	NAP	75,527	SF		2,132,941	2,132,941	2,132,941
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	Self Storage	Self Storage	1984, 2002	NAP	51,157	SF		2,036,941	2,036,941	2,036,941
14.04	Property		1	30690 Aldine Westfield Rd	Self Storage	Self Storage	2017	NAP	109,300	SF		2,007,529	2,007,529	2,007,529
14.05	Property		1	13404 E Broncos Pkwy	Self Storage	Self Storage	2016	NAP	64,460	SF		1,659,059	1,659,059	1,659,059
14.06	Property		1	3803 N Navarro St	Self Storage	Self Storage	1998	NAP	81,250	SF		1,476,235	1,476,235	1,476,235
14.07	Property		1	2102 NW Stallings Dr	Self Storage	Self Storage	1998	NAP	57,100	SF		1,180,941	1,180,941	1,180,941
14.08	Property		1	2005 W Wheeler Ave	Self Storage	Self Storage	1998	NAP	56,950	SF		1,129,176	1,129,176	1,129,176
14.09	Property		1	3817 Gulf Freeway	Self Storage	Self Storage	2003	NAP	71,925	SF		1,048,000	1,048,000	1,048,000
14.10	Property		1	1600 E General Cavazos Blvd	Self Storage	Self Storage	2000	NAP	56,550	SF		1,003,765	1,003,765	1,003,765
14.11	Property		1	11615 Rubina Pl	Self Storage	Self Storage	2011	NAP	32,700	SF		797,176	797,176	797,176
14.12	Property		1	4222 N Main St	Self Storage	Self Storage	1986	2022	66,250	SF		752,706	752,706	752,706
14.13	Property		1	12 Irongate Drive	Self Storage	Self Storage	1984	NAP	21,327	SF		516,706	516,706	516,706
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	Office	CBD	1927	2018	960,568	SF	285.25	18,833,333	18,833,333	18,833,333	7.44000%	0.017470%	7.42253%
16	Loan	6, 16	2	New Mountain - Alliance	Industrial	Warehouse/Distribution	Various	Various	282,083	SF	64.29	18,136,250	18,136,250	18,136,250	6.47320%	0.016220%	6.45698%
16.01	Property		1	11126 McCormick Rd	Industrial	Warehouse/Distribution	1972	2002	167,083	SF		9,508,950	9,508,950	9,508,950
16.02	Property		1	4775 Aircenter Cir	Industrial	Warehouse/Distribution	1984	NAP	115,000	SF		8,627,300	8,627,300	8,627,300
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	Industrial	Warehouse/Distribution	2019	NAP	596,090	SF	117.43	18,000,000	18,000,000	18,000,000	8.12200%	0.016220%	8.10578%
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	Retail	Open-Air Lifestyle Center	2003	2014	635,494	SF	283.24	17,500,000	17,500,000	17,500,000	8.30300%	0.017470%	8.28553%
19	Loan	19, 20	1	601 Hawaii St	Office	Medical	1963	2003	50,751	SF	301.47	15,300,000	15,300,000	15,300,000	7.83200%	0.064970%	7.76703%
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	Office	Suburban	2020	NAP	320,801	SF	293.02	15,000,000	15,000,000	15,000,000	7.38750%	0.016220%	7.37128%
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	Various	Various	Various	Various	84,179	SF	151.46	12,750,000	12,750,000	12,750,000	8.29000%	0.016220%	8.27378%
21.01	Property		1	2011 8th Street	Industrial	Manufacturing	1940	NAP	53,550	SF		8,322,000	8,322,000	8,322,000
21.02	Property		1	183 Monroe Street	Industrial	Warehouse	1940	2023	24,900	SF		2,838,000	2,838,000	2,838,000
21.03	Property		1	2137-2143 Cortelyou Road	Mixed Use	Retail/Multifamily	1930	NAP	5,729	SF		1,590,000	1,590,000	1,590,000
22	Loan	10, 19	1	2219 N Hamilton Avenue	Multifamily	Low Rise	1909	2023	23	Units	477,173.91	10,975,000	10,975,000	10,975,000	6.75000%	0.016220%	6.73378%
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	Office	CBD	1930	2021	1,599,029	SF	140.71	10,000,000	10,000,000	10,000,000	5.84000%	0.016220%	5.82378%
24	Loan	16, 18, 20	1	4041 Linq Lane	Retail	Unanchored	1963	NAP	19,905	SF	494.35	9,840,000	9,840,000	9,840,000	8.00400%	0.016220%	7.98778%
25	Loan	23	1	325 West Side Avenue	Office	Suburban	2012	NAP	41,477	SF	216.72	8,989,000	8,989,000	8,989,000	7.95000%	0.016220%	7.93378%
26	Loan	16	1	The Lisbon	Multifamily	Garden	1973	2022	173	Units	46,242.77	8,000,000	8,000,000	8,000,000	8.54000%	0.064970%	8.47503%
27	Loan	19, 24	1	8729 Aviation	Industrial	Flex	1977	2023	22,925	SF	348.46	8,000,000	7,988,541	7,583,625	7.05000%	0.016220%	7.03378%
28	Loan	2	1	1815-1817 Putnam Avenue	Mixed Use	Multifamily/Retail	1931	2000, 2015	15	Units	376,666.67	5,650,000	5,650,000	5,650,000	7.33000%	0.016220%	7.31378%
29	Loan	16, 27	1	2046 Mapes Avenue	Multifamily	Mid Rise	1925	2023	19	Units	276,315.79	5,250,000	5,250,000	5,250,000	7.35500%	0.016220%	7.33878%
30	Loan		1	Richland Garden Apartments	Multifamily	Garden	1988	2022	40	Units	122,500.00	4,900,000	4,900,000	4,900,000	7.87000%	0.016220%	7.85378%
31	Loan	16	1	2523-2525 Olinville Avenue	Multifamily	Low Rise	1960	2023	16	Units	300,000.00	4,800,000	4,800,000	4,800,000	4.85500%	0.016220%	4.83878%
32	Loan	16, 19	1	Hampton Inn Douglas	Hospitality	Limited Service	1997	2019	61	Rooms	76,860.23	4,700,000	4,688,474	4,397,249	8.50000%	0.016220%	8.48378%
33	Loan	2, 27	1	Hotel Condor	Hospitality	Limited Service	2009	2021	35	Rooms	120,000.00	4,200,000	4,200,000	4,200,000	8.55500%	0.016220%	8.53878%
34	Loan		1	Deerfield Estates MHP	Manufactured Housing	Manufactured Housing	1969	NAP	94	Units	36,702.13	3,450,000	3,450,000	3,450,000	7.39100%	0.016220%	7.37478%
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	Mixed Use	Multifamily/Retail	1899	2022	2	Units	1,012,500.00	2,025,000	2,025,000	2,025,000	7.88000%	0.016220%	7.86378%

A-2

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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.)	Original Amortization Term (Mos.)	Remaining Amortization Term (Mos.)
					9	9	9	9
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	296,317.90	NAP	3,555,814.80	Interest Only	No	Actual/360	60	59	60	59	0	0
2	Loan	1, 7, 12, 18	1	Westfarms	NAP	428,093.46	NAP	5,137,121.52	Interest Only	No	Actual/360	60	58	60	58	0	0
3	Loan	13, 20	1	Shadow Lake Towne Center	NAP	337,962.96	NAP	4,055,555.52	Interest Only	No	Actual/360	60	59	60	59	0	0
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	NAP	384,960.94	NAP	4,619,531.25	Interest Only	No	Actual/360	60	58	60	58	0	0
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	NAP	390,076.85	NAP	4,680,922.20	Interest Only	No	Actual/360	60	59	60	59	0	0
5.01	Property		1	369 Lexington Avenue				��
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	NAP	304,630.52	NAP	3,655,566.24	Interest Only	No	Actual/360	60	60	60	60	0	0
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	223,296.35	NAP	2,679,556.20	Interest Only	No	Actual/360	60	60	60	60	0	0
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	NAP	198,975.69	NAP	2,387,708.28	Interest Only	No	Actual/360	60	59	60	59	0	0
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	NAP	202,397.57	NAP	2,428,770.84	Interest Only	No	Actual/360	60	59	60	59	0	0
10	Loan	19, 23, 33	1	Lacey Market Square	NAP	177,739.79	NAP	2,132,877.48	Interest Only	No	Actual/360	60	60	60	60	0	0
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	NAP	148,146.99	NAP	1,777,763.88	Interest Only	No	Actual/360	60	59	60	59	0	0
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	NAP	139,105.56	NAP	1,669,266.72	Interest Only	No	Actual/360	60	59	60	59	0	0
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	NAP	106,160.98	NAP	1,273,931.76	Interest Only	No	Actual/360	60	60	60	60	0	0
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	NAP	118,793.98	NAP	1,425,527.76	Interest Only	No	Actual/360	60	59	60	59	0	0
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	NAP	118,388.42	NAP	1,420,661.04	Interest Only	No	Actual/360	60	56	60	56	0	0
16	Loan	6, 16	2	New Mountain - Alliance	NAP	99,191.77	NAP	1,190,301.24	Interest Only	No	Actual/360	60	60	60	60	0	0
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	NAP	123,522.08	NAP	1,482,264.96	Interest Only	No	Actual/360	60	53	60	53	0	0
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	NAP	122,767.16	NAP	1,473,205.92	Interest Only	No	Actual/360	60	57	60	57	0	0
19	Loan	19, 20	1	601 Hawaii St	NAP	101,244.92	NAP	1,214,939.04	Interest Only	No	Actual/360	60	60	60	60	0	0
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	NAP	93,626.30	NAP	1,123,515.60	Interest Only	No	Actual/360	56	55	56	55	0	0
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	NAP	89,304.60	NAP	1,071,655.20	Interest Only	No	Actual/360	60	59	60	59	0	0
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	62,591.80	NAP	751,101.60	Interest Only	No	Actual/360	60	57	60	57	0	0
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	NAP	49,342.59	NAP	592,111.08	Interest Only	No	Actual/360	60	53	60	53	0	0
24	Loan	16, 18, 20	1	4041 Linq Lane	NAP	66,544.37	NAP	798,532.44	Interest Only	No	Actual/360	60	59	60	59	0	0
25	Loan	23	1	325 West Side Avenue	NAP	60,379.24	NAP	724,550.88	Interest Only	No	Actual/360	60	58	60	58	0	0
26	Loan	16	1	The Lisbon	NAP	57,724.07	NAP	692,688.89	Interest Only	No	Actual/360	60	58	60	58	0	0
27	Loan	19, 24	1	8729 Aviation	53,493.11	NAP	641,917.32	NAP	Amortizing Balloon	No	Actual/360	0	0	60	58	360	358
28	Loan	2	1	1815-1817 Putnam Avenue	NAP	34,991.42	NAP	419,897.04	Interest Only	No	Actual/360	60	58	60	58	0	0
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	32,625.04	NAP	391,500.52	Interest Only	No	Actual/360	60	59	60	59	0	0
30	Loan		1	Richland Garden Apartments	NAP	32,582.16	NAP	390,985.92	Interest Only	No	Actual/360	60	58	60	58	0	0
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	19,689.72	NAP	236,276.67	Interest Only	No	Actual/360	60	57	60	57	0	0
32	Loan	16, 19	1	Hampton Inn Douglas	37,845.67	NAP	454,148.04	NAP	Amortizing Balloon	No	Actual/360	0	0	60	57	300	297
33	Loan	2, 27	1	Hotel Condor	NAP	30,358.37	NAP	364,300.42	Interest Only	No	Actual/360	60	60	60	60	0	0
34	Loan		1	Deerfield Estates MHP	NAP	21,544.25	NAP	258,531.00	Interest Only	No	Actual/360	60	58	60	58	0	0
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	NAP	13,482.19	NAP	161,786.28	Interest Only	No	Actual/360	60	58	60	58	0	0

A-3

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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 ($)	Most Recent Expenses ($)	Most Recent NOI ($)
												10		12			31
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	9/21/2023	1	8	11/8/2023	NAP	10/8/2028	10/8/2028	0	0	L(25),D(31),O(4)	NAV	NAV	NAV
2	Loan	1, 7, 12, 18	1	Westfarms	8/31/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(26),D(27),O(7)	48,528,897	17,617,481	30,911,416
3	Loan	13, 20	1	Shadow Lake Towne Center	9/15/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(28),O(7)	9,981,718	4,440,651	5,541,067
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	8/15/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(26),D(29),O(5)	NAV	NAV	NAV
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	9/28/2023	1	1	11/1/2023	NAP	10/1/2028	10/1/2028	0	5	L(25),D(28),O(7)	17,641,792	6,786,560	10,855,233
5.01	Property		1	369 Lexington Avenue											9,537,640	3,684,263	5,853,377
5.02	Property		1	2 West 46th Street											8,104,152	3,102,297	5,001,856
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	10/12/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(24),D(29),O(7)	29,655,844	13,251,467	16,404,377
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	10/10/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(24),YM1(32),O(4)	19,803,987	14,146,776	5,657,210
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	10/4/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(28),O(7)	10,256,730	3,013,347	7,243,383
8.01	Property		1	Gilbert Gateway Towne Center											6,806,553	2,079,666	4,726,887
8.02	Property		1	Scottsdale Towne Center											3,450,177	933,681	2,516,496
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	10/11/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(28),O(7)	11,626,350	5,276,821	6,349,529
10	Loan	19, 23, 33	1	Lacey Market Square	10/11/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(24),D(32),O(4)	3,838,673	966,095	2,872,578
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	9/27/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(28),O(7)	4,053,055	1,136,844	2,916,211
11.01	Property		1	West End Social											431,119	231,876	199,243
11.02	Property		1	The Heights											865,120	219,652	645,468
11.03	Property		1	OZ+MO Commons											625,740	112,304	513,436
11.04	Property		1	Wyota Commons											488,600	131,928	356,672
11.05	Property		1	Sylamore Studios											439,900	121,444	318,456
11.06	Property		1	Montauk Studios											456,860	104,030	352,830
11.07	Property		1	The Dels											338,316	75,616	262,700
11.08	Property		1	Bull Shoals											137,400	39,965	97,435
11.09	Property		1	Center City Commons											144,000	54,845	89,155
11.10	Property		1	North Village											126,000	45,184	80,816
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	9/29/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(32),O(3)	1,811,224	473,560	1,337,664
12.01	Property		1	3 Cass Street											1,029,222	282,285	746,937
12.02	Property		1	120 Francis Street											782,002	191,275	590,727
13	Loan	16	1	New Mountain - Cathay Industries	10/10/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(23),YM1(1),DorYM1(31),O(5)	NAV	NAV	NAV
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	9/22/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(23),YM1(2),DorYM1(28),O(7)	12,013,064	4,768,196	7,244,868
14.01	Property		1	2615 East 12th Street											2,210,647	651,574	1,559,072
14.02	Property		1	Parkglenn Self-Storage											1,215,086	497,641	717,444
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive											1,055,514	308,099	747,415
14.04	Property		1	30690 Aldine Westfield Rd											1,159,823	440,169	719,654
14.05	Property		1	13404 E Broncos Pkwy											973,511	536,701	436,810
14.06	Property		1	3803 N Navarro St											916,169	304,898	611,271
14.07	Property		1	2102 NW Stallings Dr											723,214	267,772	455,442
14.08	Property		1	2005 W Wheeler Ave											782,739	311,524	471,215
14.09	Property		1	3817 Gulf Freeway											820,163	517,867	302,296
14.10	Property		1	1600 E General Cavazos Blvd											723,991	273,345	450,646
14.11	Property		1	11615 Rubina Pl											515,616	233,168	282,448
14.12	Property		1	4222 N Main St											590,114	338,200	251,913
14.13	Property		1	12 Irongate Drive											326,479	87,238	239,241
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	6/30/2023	4	6	8/6/2023	NAP	7/6/2028	7/6/2028	0	0	L(23),YM1(5),DorYM1(25),O(7)	62,683,274	35,986,252	26,697,022
16	Loan	6, 16	2	New Mountain - Alliance	10/10/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(23),YM1(1),DorYM1(31),O(5)	NAV	NAV	NAV
16.01	Property		1	11126 McCormick Rd											NAV	NAV	NAV
16.02	Property		1	4775 Aircenter Cir											NAV	NAV	NAV
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	3/31/2023	7	1	5/1/2023	NAP	4/1/2028	4/1/2028	0	0	L(12),YM1(41),O(7)	NAV	NAV	NAV
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	7/6/2023	3	1	9/1/2023	NAP	8/1/2028	8/1/2028	0	0	L(27),D(26),O(7)	36,340,397	8,399,562	27,940,835
19	Loan	19, 20	1	601 Hawaii St	10/10/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(24),D(29),O(7)	1,999,460	437,249	1,562,211
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	9/13/2023	1	6	11/6/2023	NAP	6/6/2028	6/6/2028	5	0	L(23),YM1(2),DorYM1(25),O(6)	NAV	NAV	NAV
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	10/3/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(31),O(4)	1,231,823	447,626	784,197
21.01	Property		1	2011 8th Street											754,227	214,941	539,286
21.02	Property		1	183 Monroe Street											265,687	170,177	95,510
21.03	Property		1	2137-2143 Cortelyou Road											211,909	62,508	149,401
22	Loan	10, 19	1	2219 N Hamilton Avenue	7/13/2023	3	6	9/6/2023	NAP	8/6/2028	8/6/2028	5	0	L(27),D(26),O(7)	NAV	NAV	NAV
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	4/4/2023	7	6	5/6/2023	NAP	4/6/2028	4/6/2028	0	0	L(31),D(22),O(7)	49,314,096	17,827,217	31,486,880
24	Loan	16, 18, 20	1	4041 Linq Lane	10/4/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(28),O(7)	NAV	NAV	NAV
25	Loan	23	1	325 West Side Avenue	8/24/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(26),D(30),O(4)	1,689,181	313,137	1,376,045
26	Loan	16	1	The Lisbon	8/18/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(26),D(30),O(4)	2,520,655	849,481	1,671,174
27	Loan	19, 24	1	8729 Aviation	9/8/2023	2	6	10/6/2023	10/6/2023	9/6/2028	9/6/2028	0	0	L(12),YM1(44),O(4)	NAV	NAV	NAV
28	Loan	2	1	1815-1817 Putnam Avenue	8/30/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(26),D(30),O(4)	601,680	88,518	513,162
29	Loan	16, 27	1	2046 Mapes Avenue	9/22/2023	1	6	11/6/2023	NAP	10/6/2028	10/6/2028	0	0	L(25),D(31),O(4)	NAV	NAV	NAV
30	Loan		1	Richland Garden Apartments	9/1/2023	2	1	10/1/2023	NAP	9/1/2028	9/1/2028	0	0	L(36),YM1(17),O(7)	711,098	294,879	416,219
31	Loan	16	1	2523-2525 Olinville Avenue	7/13/2023	3	6	9/6/2023	NAP	8/6/2028	8/6/2028	0	0	L(27),D(28),O(5)	NAV	NAV	NAV
32	Loan	16, 19	1	Hampton Inn Douglas	7/27/2023	3	6	9/6/2023	9/6/2023	8/6/2028	8/6/2028	0	0	L(27),D(28),O(5)	2,330,169	1,258,459	1,071,710
33	Loan	2, 27	1	Hotel Condor	10/10/2023	0	6	12/6/2023	NAP	11/6/2028	11/6/2028	0	0	L(24),D(31),O(5)	1,715,401	1,121,014	594,387
34	Loan		1	Deerfield Estates MHP	9/8/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	0	0	L(12),YM1(44),O(4)	500,247	223,537	276,710
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	8/16/2023	2	6	10/6/2023	NAP	9/6/2028	9/6/2028	5	0	L(23),YM1(30),O(7)	223,797	16,367	207,429

A-4

BMO 2023-5C2

Annex A

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

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

Third Most Recent Description

Loan

7, 12, 13, 16, 19, 26, 30

Piazza Alta

NAV

Loan

1, 7, 12, 18

Westfarms

6/30/2023

T-12

47,139,850

18,215,282

28,924,568

12/31/2022

T-12

47,635,108

17,859,759

29,775,349

12/31/2021

T-12

Loan

13, 20

Shadow Lake Towne Center

6/30/2023

T-12

9,688,410

4,357,442

5,330,968

12/31/2022

T-12

9,320,835

4,241,598

5,079,237

12/31/2021

T-12

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

NAV

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

7/31/2023

T-12

16,980,535

6,788,475

10,192,060

12/31/2022

T-12

17,670,387

6,933,759

10,736,628

12/31/2021

T-12

5.01

Property

369 Lexington Avenue

7/31/2023

T-12

9,119,180

3,865,245

5,253,935

12/31/2022

T-12

10,116,921

3,936,010

6,180,911

12/31/2021

T-12

5.02

Property

2 West 46th Street

7/31/2023

T-12

7,861,355

2,923,230

4,938,124

12/31/2022

T-12

7,553,466

2,997,748

4,555,717

12/31/2021

T-12

Loan

7, 19, 20, 23

Lake Merritt Plaza

7/31/2023

T-12

29,029,206

12,821,365

16,207,841

12/31/2022

T-12

28,808,446

11,994,816

16,813,630

12/31/2021

T-12

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

8/31/2023

T-12

18,162,800

12,607,894

5,554,905

12/31/2022

T-12

14,284,994

9,706,403

4,578,591

12/31/2021

T-12

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

6/30/2023

T-12

9,662,834

2,637,475

7,025,360

12/31/2022

T-12

NAV

8.01

Property

Gilbert Gateway Towne Center

6/30/2023

T-12

6,235,250

1,688,291

4,546,959

12/31/2022

T-12

NAV

8.02

Property

Scottsdale Towne Center

6/30/2023

T-12

3,427,584

949,184

2,478,401

12/31/2022

T-12

NAV

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

8/31/2023

T-12

11,659,746

5,534,454

6,125,292

12/31/2022

T-12

6,970,024

2,546,386

4,423,637

12/31/2021

T-12

Loan

19, 23, 33

Lacey Market Square

4/30/2023

T-12

3,804,911

1,008,309

2,796,602

12/31/2022

T-12

3,654,384

994,631

2,659,753

12/31/2021

T-12

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

6/30/2023

T-3 Ann

NAV

11.01

Property

West End Social

6/30/2023

T-3 Ann

NAV

11.02

Property

The Heights

6/30/2023

T-3 Ann

NAV

11.03

Property

OZ+MO Commons

6/30/2023

T-3 Ann

NAV

11.04

Property

Wyota Commons

6/30/2023

T-3 Ann

NAV

11.05

Property

Sylamore Studios

6/30/2023

T-3 Ann

NAV

11.06

Property

Montauk Studios

6/30/2023

T-3 Ann

NAV

11.07

Property

The Dels

6/30/2023

T-3 Ann

NAV

11.08

Property

Bull Shoals

6/30/2023

T-3 Ann

NAV

11.09

Property

Center City Commons

6/30/2023

T-3 Ann

NAV

11.10

Property

North Village

6/30/2023

T-3 Ann

NAV

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

6/30/2023

T-12

1,531,983

415,332

1,116,651

12/31/2022

T-12

1,134,657

400,209

734,449

12/31/2021

T-12

12.01

Property

3 Cass Street

6/30/2023

T-12

852,900

243,595

609,304

12/31/2022

T-12

641,586

221,577

420,009

12/31/2021

T-12

12.02

Property

120 Francis Street

6/30/2023

T-12

679,083

171,737

507,347

12/31/2022

T-12

493,071

178,631

314,440

12/31/2021

T-12

Loan

New Mountain - Cathay Industries

NAV

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

7/31/2023

T-12

11,420,348

4,394,178

7,026,170

12/31/2022

T-12

9,937,754

4,247,197

5,690,557

12/31/2021

T-12

14.01

Property

2615 East 12th Street

7/31/2023

T-12

2,048,712

582,139

1,466,573

12/31/2022

T-12

1,899,866

565,068

1,334,798

12/31/2021

T-12

14.02

Property

Parkglenn Self-Storage

7/31/2023

T-12

1,188,392

500,238

688,154

12/31/2022

T-12

989,239

445,531

543,708

12/31/2021

T-12

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

7/31/2023

T-12

1,015,008

260,869

754,139

12/31/2022

T-12

1,045,680

236,797

808,883

12/31/2021

T-12

14.04

Property

30690 Aldine Westfield Rd

7/31/2023

T-12

1,164,983

431,728

733,254

12/31/2022

T-12

1,105,092

482,107

622,984

12/31/2021

T-12

14.05

Property

13404 E Broncos Pkwy

7/31/2023

T-12

921,192

434,523

486,670

12/31/2022

T-12

704,303

408,593

295,710

12/31/2021

T-12

14.06

Property

3803 N Navarro St

7/31/2023

T-12

902,247

305,100

597,147

12/31/2022

T-12

782,857

315,045

467,812

12/31/2021

T-12

14.07

Property

2102 NW Stallings Dr

7/31/2023

T-12

675,338

245,232

430,106

12/31/2022

T-12

567,698

230,467

337,231

12/31/2021

T-12

14.08

Property

2005 W Wheeler Ave

7/31/2023

T-12

755,758

299,322

456,436

12/31/2022

T-12

672,275

292,723

379,552

12/31/2021

T-12

14.09

Property

3817 Gulf Freeway

7/31/2023

T-12

820,225

436,176

384,049

12/31/2022

T-12

703,232

363,771

339,461

12/31/2021

T-12

14.10

Property

1600 E General Cavazos Blvd

7/31/2023

T-12

704,274

277,426

426,848

12/31/2022

T-12

641,035

249,813

391,222

12/31/2021

T-12

14.11

Property

11615 Rubina Pl

7/31/2023

T-12

411,326

244,714

166,612

12/31/2022

T-12

184,388

234,628

(50,240)

12/31/2021

T-12

14.12

Property

4222 N Main St

7/31/2023

T-12

516,525

292,413

224,112

12/31/2022

T-12

394,977

304,839

90,138

12/31/2021

T-12

14.13

Property

12 Irongate Drive

7/31/2023

T-12

296,368

84,299

212,069

12/31/2022

T-12

247,113

117,815

129,298

12/31/2021

T-12

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

3/31/2023

T-12

61,168,739

34,495,528

26,673,211

12/31/2022

T-12

60,959,925

34,523,645

26,436,280

12/31/2021

T-12

Loan

6, 16

New Mountain - Alliance

NAV

16.01

Property

11126 McCormick Rd

NAV

16.02

Property

4775 Aircenter Cir

NAV

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

NAV

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

5/31/2023

T-12

33,508,680

7,507,842

26,000,838

12/31/2022

T-12

29,668,166

7,798,544

21,869,622

12/31/2021

T-12

Loan

19, 20

601 Hawaii St

8/1/2023

T-12

1,970,925

444,409

1,526,516

12/31/2022

T-12

1,892,916

422,140

1,470,776

12/31/2021

T-12

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

NAV

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

8/31/2023

T-12

NAV

21.01

Property

2011 8th Street

8/31/2023

T-12

NAV

21.02

Property

183 Monroe Street

8/31/2023

T-12

NAV

21.03

Property

2137-2143 Cortelyou Road

8/31/2023

T-12

NAV

Loan

10, 19

2219 N Hamilton Avenue

NAV

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

12/31/2022

T-12

47,450,874

18,047,218

29,403,655

12/31/2021

T-12

44,617,062

18,489,525

26,127,537

12/31/2020

T-12

Loan

16, 18, 20

4041 Linq Lane

NAV

Loan

325 West Side Avenue

6/30/2023

T-12

1,595,650

353,366

1,242,285

12/31/2022

T-12

1,608,763

377,361

1,231,402

12/31/2021

T-12

Loan

The Lisbon

6/30/2023

T-12

NAV

Loan

19, 24

8729 Aviation

NAV

Loan

1815-1817 Putnam Avenue

8/31/2023

T-12

542,960

90,518

452,442

12/31/2022

T-12

481,113

83,178

397,935

12/31/2021

T-12

Loan

16, 27

2046 Mapes Avenue

NAV

Loan

Richland Garden Apartments

6/30/2023

T-12

581,314

238,667

342,648

12/31/2022

T-12

NAV

Loan

2523-2525 Olinville Avenue

NAV

Loan

16, 19

Hampton Inn Douglas

5/31/2023

T-12

2,095,000

1,142,462

952,538

12/31/2022

T-12

1,213,801

702,125

511,676

12/31/2021

9 Mos.

Loan

2, 27

Hotel Condor

7/31/2023

T-12

1,693,124

1,181,696

511,428

12/31/2022

T-12

1,445,977

993,723

452,254

12/31/2021

T-12

Loan

Deerfield Estates MHP

6/30/2023

T-12

476,644

209,181

267,463

12/31/2022

T-12

469,016

220,183

248,833

12/31/2021

T-12

Loan

2, 10, 13, 16

84 Hoyt Street

7/31/2023

T-3

NAV

A-5

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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 (%)	Appraised Value ($)
								31		15		7, 14	7, 14	7	7	5
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	95.0%	25,836,537	3,971,583	21,864,954	180,700	35,111	21,649,143	2.48	2.46	11.8%	11.6%	470,600,000
2	Loan	1, 7, 12, 18	1	Westfarms	96.4%	51,139,577	16,217,012	34,922,565	306,214	968,038	33,648,313	1.83	1.76	14.4%	13.9%	547,800,000
3	Loan	13, 20	1	Shadow Lake Towne Center	77.0%	10,370,619	4,289,944	6,080,674	63,787	0	6,016,888	1.50	1.48	9.7%	9.6%	92,700,000
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	92.6%	37,055,156	21,577,456	15,477,699	426,202	926,527	14,124,970	2.20	2.01	16.3%	14.9%	195,000,000
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	92.2%	18,446,425	7,103,097	11,343,328	109,765	590,707	10,642,855	1.39	1.30	11.2%	10.5%	171,000,000
5.01	Property		1	369 Lexington Avenue	90.0%	9,928,894	3,861,406	6,067,488	51,760	291,470	5,724,258					97,000,000
5.02	Property		1	2 West 46th Street	95.0%	8,517,531	3,241,691	5,275,840	58,005	299,238	4,918,597					74,000,000
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	83.7%	30,556,308	14,081,611	16,474,697	122,444	806,580	15,545,673	2.54	2.39	20.6%	19.4%	242,500,000
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	73.0%	20,279,498	14,258,935	6,020,563	773,034	29,066	5,218,463	1.79	1.55	15.2%	13.2%	76,300,000
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	95.0%	11,841,358	3,087,027	8,754,331	64,810	324,051	8,365,470	1.36	1.30	10.8%	10.3%	143,450,000
8.01	Property		1	Gilbert Gateway Towne Center	95.0%	7,211,714	2,064,874	5,146,840	39,597	197,984	4,909,260					80,410,000
8.02	Property		1	Scottsdale Towne Center	95.0%	4,629,644	1,022,153	3,607,491	25,214	126,068	3,456,210					63,040,000
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	82.9%	13,584,111	5,503,947	8,080,165	110,608	0	7,969,557	1.81	1.79	14.7%	14.5%	114,100,000
10	Loan	19, 23, 33	1	Lacey Market Square	92.4%	4,036,636	1,031,445	3,005,192	55,300	138,108	2,811,784	1.41	1.32	11.5%	10.8%	45,360,000
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	95.0%	4,401,027	1,767,032	2,633,995	130,750	0	2,503,245	1.48	1.41	11.1%	10.6%	38,300,000
11.01	Property		1	West End Social	95.0%	988,845	369,862	618,983	25,000	0	593,983					8,700,000
11.02	Property		1	The Heights	95.0%	824,076	398,394	425,682	29,250	0	396,432					6,170,000
11.03	Property		1	OZ+MO Commons	95.0%	566,061	213,063	352,998	16,500	0	336,498					4,740,000
11.04	Property		1	Wyota Commons	95.0%	459,525	172,437	287,088	12,500	0	274,588					3,810,000
11.05	Property		1	Sylamore Studios	95.0%	419,598	172,058	247,540	13,750	0	233,790					3,700,000
11.06	Property		1	Montauk Studios	95.0%	434,574	170,566	264,008	13,000	0	251,008					3,560,000
11.07	Property		1	The Dels	95.0%	321,861	118,486	203,375	10,750	0	192,625					3,100,000
11.08	Property		1	Bull Shoals	95.0%	129,840	48,798	81,042	4,000	0	77,042					1,270,000
11.09	Property		1	Center City Commons	95.0%	136,503	60,772	75,731	3,500	0	72,231					1,090,000
11.10	Property		1	North Village	95.0%	120,144	42,596	77,548	2,500	0	75,048					1,080,000
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	93.4%	3,024,424	504,545	2,519,879	0	59,804	2,460,076	1.51	1.47	12.0%	11.7%	32,700,000
12.01	Property		1	3 Cass Street	92.7%	2,040,698	308,577	1,732,120	0	45,970	1,686,150					21,800,000
12.02	Property		1	120 Francis Street	95.0%	983,726	195,967	787,759	0	13,834	773,925					10,900,000
13	Loan	16	1	New Mountain - Cathay Industries	95.0%	4,260,240	852,048	3,408,192	32,700	65,400	3,310,092	2.68	2.60	16.6%	16.1%	51,900,000
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	100.0%	12,172,844	4,830,213	7,342,631	83,298	0	7,259,334	1.21	1.20	8.6%	8.5%	142,000,000
14.01	Property		1	2615 East 12th Street	100.0%	2,261,971	757,955	1,504,016	8,848	0	1,495,168					28,850,000
14.02	Property		1	Parkglenn Self-Storage	100.0%	1,224,766	494,452	730,314	7,553	0	722,761					14,450,000
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	100.0%	1,041,903	295,259	746,645	5,116	0	741,529					13,800,000
14.04	Property		1	30690 Aldine Westfield Rd	100.0%	1,149,418	399,536	749,882	10,930	0	738,952					13,600,000
14.05	Property		1	13404 E Broncos Pkwy	100.0%	988,719	502,306	486,413	6,446	0	479,967					11,240,000
14.06	Property		1	3803 N Navarro St	100.0%	902,552	335,655	566,897	8,125	0	558,772					10,000,000
14.07	Property		1	2102 NW Stallings Dr	100.0%	760,156	266,361	493,795	5,710	0	488,085					8,000,000
14.08	Property		1	2005 W Wheeler Ave	100.0%	817,348	350,294	467,054	5,695	0	461,359					7,650,000
14.09	Property		1	3817 Gulf Freeway	100.0%	823,488	445,949	377,539	7,193	0	370,346					7,100,000
14.10	Property		1	1600 E General Cavazos Blvd	100.0%	743,656	335,322	408,334	5,655	0	402,679					6,800,000
14.11	Property		1	11615 Rubina Pl	100.0%	534,620	229,219	305,401	3,270	0	302,131					5,400,000
14.12	Property		1	4222 N Main St	100.0%	591,772	329,773	261,999	6,625	0	255,374					5,100,000
14.13	Property		1	12 Irongate Drive	100.0%	332,474	88,132	244,342	2,133	0	242,209					3,500,000
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	95.0%	70,904,067	39,203,449	31,700,618	192,114	2,881,704	28,626,800	1.53	1.39	11.6%	10.4%	555,000,000
16	Loan	6, 16	2	New Mountain - Alliance	95.0%	3,107,100	621,420	2,485,680	42,312	84,625	2,358,743	2.09	1.98	13.7%	13.0%	36,700,000
16.01	Property		1	11126 McCormick Rd	95.0%	1,629,072	325,814	1,303,258	25,062	50,125	1,228,070					20,200,000
16.02	Property		1	4775 Aircenter Cir	95.0%	1,478,028	295,606	1,182,422	17,250	34,500	1,130,672					16,500,000
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	95.0%	9,291,231	1,434,983	7,856,248	59,609	119,218	7,677,421	1.36	1.33	11.2%	11.0%	161,200,000
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	94.2%	34,231,796	8,446,932	25,784,865	127,099	1,270,988	24,386,778	1.70	1.61	14.3%	13.5%	378,000,000
19	Loan	19, 20	1	601 Hawaii St	95.0%	2,140,507	455,212	1,685,295	10,150	76,127	1,599,019	1.39	1.32	11.0%	10.5%	27,100,000
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	92.4%	12,750,089	2,792,400	9,957,689	44,912	144,900	9,767,877	1.41	1.39	10.6%	10.4%	150,700,000
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	95.0%	1,897,017	478,882	1,418,136	0	51,768	1,366,368	1.32	1.28	11.1%	10.7%	21,900,000
21.01	Property		1	2011 8th Street	95.0%	1,280,623	280,505	1,000,118	0	32,961	967,157					15,600,000
21.02	Property		1	183 Monroe Street	95.0%	402,154	149,581	252,574	0	15,340	237,234					3,400,000
21.03	Property		1	2137-2143 Cortelyou Road	95.0%	214,241	48,796	165,445	0	3,467	161,978					2,900,000
22	Loan	10, 19	1	2219 N Hamilton Avenue	96.0%	1,032,458	150,828	881,630	5,750	0	875,880	1.17	1.17	8.0%	8.0%	15,500,000
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	74.5%	51,753,039	18,582,167	33,170,872	319,806	1,387,420	31,463,647	2.49	2.36	14.7%	14.0%	396,000,000
24	Loan	16, 18, 20	1	4041 Linq Lane	83.5%	1,703,250	630,994	1,072,256	16,322	19,905	1,036,029	1.34	1.30	10.9%	10.5%	23,900,000
25	Loan	23	1	325 West Side Avenue	95.0%	1,637,391	351,763	1,285,629	10,369	97,471	1,177,788	1.77	1.63	14.3%	13.1%	16,400,000
26	Loan	16	1	The Lisbon	90.5%	2,520,655	1,310,863	1,209,792	86,500	0	1,123,292	1.75	1.62	15.1%	14.0%	20,100,000
27	Loan	19, 24	1	8729 Aviation	100.0%	1,116,239	221,308	894,931	3,439	37,024	854,468	1.39	1.33	11.2%	10.7%	14,250,000
28	Loan	2	1	1815-1817 Putnam Avenue	97.8%	596,365	82,824	513,541	3,248	1,650	508,643	1.22	1.21	9.1%	9.0%	7,600,000
29	Loan	16, 27	1	2046 Mapes Avenue	97.0%	594,230	87,142	507,088	4,750	0	502,338	1.30	1.28	9.7%	9.6%	7,900,000
30	Loan		1	Richland Garden Apartments	95.0%	844,524	301,856	542,669	10,000	0	532,669	1.39	1.36	11.1%	10.9%	8,580,000
31	Loan	16	1	2523-2525 Olinville Avenue	97.0%	425,287	64,996	360,291	4,000	0	356,291	1.52	1.51	7.5%	7.4%	7,100,000
32	Loan	16, 19	1	Hampton Inn Douglas	83.0%	2,184,860	1,249,962	934,898	109,243	0	825,655	2.06	1.82	19.9%	17.6%	9,600,000
33	Loan	2, 27	1	Hotel Condor	95.0%	617,500	0	617,500	0	0	617,500	1.70	1.70	14.7%	14.7%	6,600,000
34	Loan		1	Deerfield Estates MHP	91.5%	550,295	220,817	329,478	5,903	0	323,575	1.27	1.25	9.6%	9.4%	5,450,000
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	95.0%	215,822	19,130	196,692	473	733	195,486	1.22	1.21	9.7%	9.7%	2,700,000

A-6

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Appraised Value Type	Appraisal Date	Cut-off Date LTV Ratio (%)	LTV Ratio at Maturity / ARD (%)	Leased Occupancy (%)	Occupancy Date	Single Tenant (Y/N)	Largest Tenant	Largest Tenant SF	Largest Tenant % of NRA
							5, 7	5, 7	3,4			4, 21, 22, 23, 28
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	As Is	6/27/2023	39.5%	39.5%	91.9%	8/3/2023	NAP	NAP	NAP	NAP
2	Loan	1, 7, 12, 18	1	Westfarms	As Is	7/6/2023	44.2%	44.2%	95.9%	8/25/2023	No	Forever 21	22,512	4.5%
3	Loan	13, 20	1	Shadow Lake Towne Center	As Is	3/2/2023	67.4%	67.4%	79.3%	5/9/2023	No	Dick's Sporting Goods	50,000	9.4%
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	As Is	3/14/2023	48.7%	48.7%	86.6%	8/1/2023	No	Dow Chemical	927,828	50.1%
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	As Is	7/19/2023	59.3%	59.3%	93.8%	9/1/2023
5.01	Property		1	369 Lexington Avenue	As Is	7/19/2023			92.0%	9/1/2023	No	Jay Suites II, LLC	18,982	12.1%
5.02	Property		1	2 West 46th Street	As Is	7/19/2023			95.8%	9/1/2023	No	Royal Chain, Inc.	18,546	12.8%
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	As Is	7/11/2023	33.0%	33.0%	82.6%	9/25/2023	No	LaunchDarkly	33,710	6.9%
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	As Is	9/15/2023	51.8%	51.8%	73.0%	8/31/2023	NAP	NAP	NAP	NAP
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	Prospective Market Value Upon Stabilization	Various	56.5%	56.5%	97.3%	7/1/2023
8.01	Property		1	Gilbert Gateway Towne Center	Prospective Market Value Upon Stabilization	2/1/2024			96.0%	7/1/2023	No	Ross Dress for Less, Inc.	29,788	11.3%
8.02	Property		1	Scottsdale Towne Center	Prospective Market Value Upon Stabilization	11/1/2024			99.2%	7/1/2023	No	Mountainside Fitness	50,320	29.9%
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	As Is	9/22/2023	48.2%	48.2%	84.0%	10/6/2023	No	Sycamore Medical	41,925	7.6%
10	Loan	19, 23, 33	1	Lacey Market Square	As Is	3/7/2023	57.5%	57.5%	96.1%	6/30/2023	No	Fred Meyer Stores, Inc	196,996	71.2%
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	As Portfolio	7/7/2023	61.7%	61.7%	98.1%	8/17/2023
11.01	Property		1	West End Social	As Is	6/27/2023			99.0%	8/17/2023	NAP	NAP	NAP	NAP
11.02	Property		1	The Heights	As Is	6/30/2023			98.3%	8/17/2023	NAP	NAP	NAP	NAP
11.03	Property		1	OZ+MO Commons	As Is	6/15/2023			97.0%	8/17/2023	NAP	NAP	NAP	NAP
11.04	Property		1	Wyota Commons	As Is	6/15/2023			96.0%	8/17/2023	NAP	NAP	NAP	NAP
11.05	Property		1	Sylamore Studios	As Is	6/27/2023			98.2%	8/17/2023	NAP	NAP	NAP	NAP
11.06	Property		1	Montauk Studios	As Is	6/30/2023			98.1%	8/17/2023	NAP	NAP	NAP	NAP
11.07	Property		1	The Dels	As Is	6/27/2023			100.0%	8/17/2023	NAP	NAP	NAP	NAP
11.08	Property		1	Bull Shoals	As Is	6/27/2023			93.8%	8/17/2023	NAP	NAP	NAP	NAP
11.09	Property		1	Center City Commons	As Is	6/27/2023			100.0%	8/17/2023	NAP	NAP	NAP	NAP
11.10	Property		1	North Village	As Is	6/27/2023			100.0%	8/17/2023	NAP	NAP	NAP	NAP
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	As Is	7/10/2023	64.2%	64.2%	93.4%	6/23/2023
12.01	Property		1	3 Cass Street	As Is	7/10/2023			89.3%	6/23/2023	No	BTNJ Keyport	40,001	33.0%
12.02	Property		1	120 Francis Street	As Is	7/10/2023			100.0%	6/23/2023	No	Method Associates	25,520	33.9%
13	Loan	16	1	New Mountain - Cathay Industries	As Is	8/3/2023	39.5%	39.5%	100.0%	10/10/2023	Yes	Cathay Industries	218,000	100.0%
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	As Portfolio	Various	59.9%	59.9%	92.6%	7/31/2023
14.01	Property		1	2615 East 12th Street	As Is	8/5/2023			96.2%	7/31/2023	NAP	NAP	NAP	NAP
14.02	Property		1	Parkglenn Self-Storage	As Is	8/8/2023			95.5%	7/31/2023	NAP	NAP	NAP	NAP
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	As Is	8/3/2023			86.9%	7/31/2023	NAP	NAP	NAP	NAP
14.04	Property		1	30690 Aldine Westfield Rd	As Is	8/10/2023			89.5%	7/31/2023	NAP	NAP	NAP	NAP
14.05	Property		1	13404 E Broncos Pkwy	As Is	8/8/2023			98.2%	7/31/2023	NAP	NAP	NAP	NAP
14.06	Property		1	3803 N Navarro St	As Is	8/11/2023			85.8%	7/31/2023	NAP	NAP	NAP	NAP
14.07	Property		1	2102 NW Stallings Dr	As Is	8/9/2023			97.0%	7/31/2023	NAP	NAP	NAP	NAP
14.08	Property		1	2005 W Wheeler Ave	As Is	8/10/2023			95.3%	7/31/2023	NAP	NAP	NAP	NAP
14.09	Property		1	3817 Gulf Freeway	As Is	8/10/2023			91.8%	7/31/2023	NAP	NAP	NAP	NAP
14.10	Property		1	1600 E General Cavazos Blvd	As Is	8/10/2023			93.5%	7/31/2023	NAP	NAP	NAP	NAP
14.11	Property		1	11615 Rubina Pl	As Is	8/9/2023			91.4%	7/31/2023	NAP	NAP	NAP	NAP
14.12	Property		1	4222 N Main St	As Is	8/10/2023			94.0%	7/31/2023	NAP	NAP	NAP	NAP
14.13	Property		1	12 Irongate Drive	As Is	8/9/2023			84.3%	7/31/2023	NAP	NAP	NAP	NAP
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	As Is	4/19/2023	49.4%	49.4%	98.6%	5/1/2023	No	Michael Kors (USA), Inc	254,485	26.5%
16	Loan	6, 16	2	New Mountain - Alliance	As Is	Various	49.4%	49.4%	100.0%	10/10/2023
16.01	Property		1	11126 McCormick Rd	As Is	8/4/2023			100.0%	10/10/2023	Yes	Tessco Incorporated	167,083	100.0%
16.02	Property		1	4775 Aircenter Cir	As Is	8/8/2023			100.0%	10/10/2023	Yes	Tessco Incorporated	115,000	100.0%
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	As Is	1/4/2023	43.4%	43.4%	100.0%	11/1/2023	Yes	High Tech Logistics	596,090	100.0%
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	As Is (Extraordinary Assumptions)	6/7/2023	47.6%	47.6%	94.4%	6/20/2023	No	Crate & Barrel	34,597	5.4%
19	Loan	19, 20	1	601 Hawaii St	As Is	7/21/2023	56.5%	56.5%	100.0%	11/6/2023	Yes	DaVita Inc	50,751	100.0%
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	As Is	6/10/2023	62.4%	62.4%	92.5%	9/13/2023	No	Credit Karma	224,201	69.9%
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	As Is	Various	58.2%	58.2%	100.0%	6/1/2023
21.01	Property		1	2011 8th Street	As Is	8/3/2023			100.0%	6/1/2023	No	JMB Food Services	12,500	23.3%
21.02	Property		1	183 Monroe Street	As Is	8/3/2023			100.0%	6/1/2023	No	Marbcon	8,000	32.1%
21.03	Property		1	2137-2143 Cortelyou Road	As Is	7/28/2023			100.0%	6/1/2023	No	Empire Group Services Inc.	1,200	20.9%
22	Loan	10, 19	1	2219 N Hamilton Avenue	As Is	5/19/2023	70.8%	70.8%	100.0%	10/2/2023	NAP	NAP	NAP	NAP
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	As Is	2/7/2023	56.8%	56.8%	75.1%	3/22/2023	No	MUFG Bank Ltd.	137,076	8.6%
24	Loan	16, 18, 20	1	4041 Linq Lane	As Is	7/8/2023	41.2%	41.2%	79.9%	10/9/2023	No	Battista's Hole in the Wall	9,000	45.2%
25	Loan	23	1	325 West Side Avenue	As Is	6/15/2023	54.8%	54.8%	100.0%	10/6/2023	Yes	GS-02B-23777	41,477	100.0%
26	Loan	16	1	The Lisbon	As Is	6/29/2023	39.8%	39.8%	98.8%	8/10/2023	NAP	NAP	NAP	NAP
27	Loan	19, 24	1	8729 Aviation	As Is	5/30/2023	56.1%	53.2%	100.0%	11/6/2023	Yes	Volume Studios, LLC	22,925	100.0%
28	Loan	2	1	1815-1817 Putnam Avenue	As Is	8/7/2023	74.3%	74.3%	100.0%	8/1/2023	No	Cositas Pequenas Inc	1,650	100.0%
29	Loan	16, 27	1	2046 Mapes Avenue	As Is	8/31/2023	66.5%	66.5%	100.0%	9/22/2023	NAP	NAP	NAP	NAP
30	Loan		1	Richland Garden Apartments	As Is	7/28/2023	57.1%	57.1%	97.5%	8/29/2023	NAP	NAP	NAP	NAP
31	Loan	16	1	2523-2525 Olinville Avenue	As Is	6/6/2023	67.6%	67.6%	100.0%	5/1/2023	NAP	NAP	NAP	NAP
32	Loan	16, 19	1	Hampton Inn Douglas	As Is	7/6/2023	48.8%	45.8%	88.5%	5/31/2023	NAP	NAP	NAP	NAP
33	Loan	2, 27	1	Hotel Condor	As Is	8/17/2023	63.6%	63.6%	100.0%	10/10/2023	Yes	LuxUrban RE Holdings, LLC	11,232	100.0%
34	Loan		1	Deerfield Estates MHP	As Is	7/24/2023	63.3%	63.3%	91.5%	8/9/2023	NAP	NAP	NAP	NAP
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	As Is	8/8/2023	75.0%	75.0%	100.0%	2/1/2023	No	Fast and Fresh Burrito Deli, Inc.	733	100.0%

A-7

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Largest Tenant Lease Expiration Date	Second Largest Tenant	Second Largest Tenant SF	Second Largest Tenant % of NRA	Second Largest Tenant Lease Expiration Date
						4, 21, 22, 23, 28
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	NAP	NAP	NAP	NAP
2	Loan	1, 7, 12, 18	1	Westfarms	1/31/2023	HM	15,121	3.0%	1/31/2032
3	Loan	13, 20	1	Shadow Lake Towne Center	1/31/2028	Burlington	36,766	6.9%	2/28/2030
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	12/31/2028	Wyeth Pharmaceuticals	677,311	36.6%	8/15/2028
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street
5.01	Property		1	369 Lexington Avenue	12/31/2031	Cafe Con Tutti Corp	14,039	8.9%	11/30/2028
5.02	Property		1	2 West 46th Street	12/31/2024	5th Ave Dollar LLC	11,990	8.3%	3/31/2027
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	3/31/2026	Dentons US LLP	28,396	5.8%	10/31/2024
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	NAP	NAP	NAP	NAP
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio
8.01	Property		1	Gilbert Gateway Towne Center	1/31/2026	Mega Furniture	28,428	10.8%	5/31/2032
8.02	Property		1	Scottsdale Towne Center	12/31/2038	TJ Maxx	31,000	18.4%	1/31/2026
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	25,000 SF expiring 5/31/2034; 16,925 SF expiring 12/31/2036	Life Time Fitness (Office)	40,212	7.3%	5/31/2039
10	Loan	19, 23, 33	1	Lacey Market Square	1/31/2030	PFWA Lacey, LLC dba Planet Fitness	20,413	7.4%	3/31/2028
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio
11.01	Property		1	West End Social	NAP	NAP	NAP	NAP	NAP
11.02	Property		1	The Heights	NAP	NAP	NAP	NAP	NAP
11.03	Property		1	OZ+MO Commons	NAP	NAP	NAP	NAP	NAP
11.04	Property		1	Wyota Commons	NAP	NAP	NAP	NAP	NAP
11.05	Property		1	Sylamore Studios	NAP	NAP	NAP	NAP	NAP
11.06	Property		1	Montauk Studios	NAP	NAP	NAP	NAP	NAP
11.07	Property		1	The Dels	NAP	NAP	NAP	NAP	NAP
11.08	Property		1	Bull Shoals	NAP	NAP	NAP	NAP	NAP
11.09	Property		1	Center City Commons	NAP	NAP	NAP	NAP	NAP
11.10	Property		1	North Village	NAP	NAP	NAP	NAP	NAP
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio
12.01	Property		1	3 Cass Street	6/30/2029	Automoby LLC	30,000	24.7%	1/31/2033
12.02	Property		1	120 Francis Street	10/31/2027	Retro Productions	8,764	11.6%	7/31/2024
13	Loan	16	1	New Mountain - Cathay Industries	10/31/2037	NAP	NAP	NAP	NAP
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage
14.01	Property		1	2615 East 12th Street	NAP	NAP	NAP	NAP	NAP
14.02	Property		1	Parkglenn Self-Storage	NAP	NAP	NAP	NAP	NAP
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	NAP	NAP	NAP	NAP	NAP
14.04	Property		1	30690 Aldine Westfield Rd	NAP	NAP	NAP	NAP	NAP
14.05	Property		1	13404 E Broncos Pkwy	NAP	NAP	NAP	NAP	NAP
14.06	Property		1	3803 N Navarro St	NAP	NAP	NAP	NAP	NAP
14.07	Property		1	2102 NW Stallings Dr	NAP	NAP	NAP	NAP	NAP
14.08	Property		1	2005 W Wheeler Ave	NAP	NAP	NAP	NAP	NAP
14.09	Property		1	3817 Gulf Freeway	NAP	NAP	NAP	NAP	NAP
14.10	Property		1	1600 E General Cavazos Blvd	NAP	NAP	NAP	NAP	NAP
14.11	Property		1	11615 Rubina Pl	NAP	NAP	NAP	NAP	NAP
14.12	Property		1	4222 N Main St	NAP	NAP	NAP	NAP	NAP
14.13	Property		1	12 Irongate Drive	NAP	NAP	NAP	NAP	NAP
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	330 SF in 11/30/2023; 6,436 SF in 3/31/2025; 236,974 SF in 3/31/2026; 10,745 SF in 9/30/2029	First-Citizens Bank & Trust Company	153,680	16.0%	5/31/2034
16	Loan	6, 16	2	New Mountain - Alliance
16.01	Property		1	11126 McCormick Rd	7/31/2043	NAP	NAP	NAP	NAP
16.02	Property		1	4775 Aircenter Cir	7/31/2043	NAP	NAP	NAP	NAP
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	3/31/2043	NAP	NAP	NAP	NAP
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	1/31/2024	H&M	21,334	3.4%	4/30/2026
19	Loan	19, 20	1	601 Hawaii St	8/31/2028	NAP	NAP	NAP	NAP
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	6/30/2031	Endurance Services Limited	43,123	13.4%	12/31/2032
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio
21.01	Property		1	2011 8th Street	9/30/2028	Amaro Food Inc	11,250	21.0%	10/31/2028
21.02	Property		1	183 Monroe Street	3/31/2026	Omar Wiilson	2,800	11.2%	6/30/2026
21.03	Property		1	2137-2143 Cortelyou Road	12/31/2027	Sylco Consulting	900	15.7%	11/30/2027
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	NAP	NAP	NAP	NAP
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	8/31/2029	E-Trade Financial Corporation	132,265	8.3%	1/31/2031
24	Loan	16, 18, 20	1	4041 Linq Lane	4/30/2033	Stage Door Casino	6,905	34.7%	4/30/2033
25	Loan	23	1	325 West Side Avenue	3/25/2027	NAP	NAP	NAP	NAP
26	Loan	16	1	The Lisbon	NAP	NAP	NAP	NAP	NAP
27	Loan	19, 24	1	8729 Aviation	8/31/2035	NAP	NAP	NAP	NAP
28	Loan	2	1	1815-1817 Putnam Avenue	11/30/2026	NAP	NAP	NAP	NAP
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	NAP	NAP	NAP	NAP
30	Loan		1	Richland Garden Apartments	NAP	NAP	NAP	NAP	NAP
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	NAP	NAP	NAP	NAP
32	Loan	16, 19	1	Hampton Inn Douglas	NAP	NAP	NAP	NAP	NAP
33	Loan	2, 27	1	Hotel Condor	9/30/2038	NAP	NAP	NAP	NAP
34	Loan		1	Deerfield Estates MHP	NAP	NAP	NAP	NAP	NAP
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	3/31/2030	NAP	NAP	NAP	NAP

A-8

BMO 2023-5C2

Annex A

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
					4, 21, 22, 23, 28				4, 21, 22, 23, 28
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	NAP	NAP	NAP	NAP	NAP
2	Loan	1, 7, 12, 18	1	Westfarms	Pottery Barn	14,187	2.8%	1/31/2027	Gap Gap Kids	13,093
3	Loan	13, 20	1	Shadow Lake Towne Center	T.J. Maxx	32,652	6.1%	1/31/2028	Wall to Wall Wine & Spirits	29,998
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	NAP	NAP	NAP	NAP	NAP	NAP
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street
5.01	Property		1	369 Lexington Avenue	Body Sculpt of Long Island LLC	8,928	5.7%	3/31/2027	Mingxue Yang Medical P.C	8,655
5.02	Property		1	2 West 46th Street	Taba Casting	5,657	3.9%	6/30/2029	Pomann Sound Production Inc	5,505
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	Premier Workspaces	20,977	4.3%	11/30/2024	Big Fish Games, Inc	20,977
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	NAP	NAP	NAP	NAP	NAP
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio
8.01	Property		1	Gilbert Gateway Towne Center	Michaels	23,690	9.0%	3/31/2025	Petsmart	19,107
8.02	Property		1	Scottsdale Towne Center	Ross Dress for Less, Inc.	26,770	15.9%	1/31/2032	Sola Salon Studios	5,000
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	Wells Fargo	37,520	6.8%	11,758 SF expiring 11/30/2027; 25,762 SF expiring 8/31/2029	McGraw-Hill	30,800
10	Loan	19, 23, 33	1	Lacey Market Square	Department of Children, Youth and Families	4,396	1.6%	6/30/2028	Rent-A-Center	3,993
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio
11.01	Property		1	West End Social	NAP	NAP	NAP	NAP	NAP	NAP
11.02	Property		1	The Heights	NAP	NAP	NAP	NAP	NAP	NAP
11.03	Property		1	OZ+MO Commons	NAP	NAP	NAP	NAP	NAP	NAP
11.04	Property		1	Wyota Commons	NAP	NAP	NAP	NAP	NAP	NAP
11.05	Property		1	Sylamore Studios	NAP	NAP	NAP	NAP	NAP	NAP
11.06	Property		1	Montauk Studios	NAP	NAP	NAP	NAP	NAP	NAP
11.07	Property		1	The Dels	NAP	NAP	NAP	NAP	NAP	NAP
11.08	Property		1	Bull Shoals	NAP	NAP	NAP	NAP	NAP	NAP
11.09	Property		1	Center City Commons	NAP	NAP	NAP	NAP	NAP	NAP
11.10	Property		1	North Village	NAP	NAP	NAP	NAP	NAP	NAP
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio
12.01	Property		1	3 Cass Street	Secret Box Distribution Corp	25,000	20.6%	5/31/2033	Kastle Fundraising	4,500
12.02	Property		1	120 Francis Street	Ariston Chimney LLC	7,400	9.8%	8/31/2028	Key Port Borough	6,954
13	Loan	16	1	New Mountain - Cathay Industries	NAP	NAP	NAP	NAP	NAP	NAP
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage
14.01	Property		1	2615 East 12th Street	NAP	NAP	NAP	NAP	NAP	NAP
14.02	Property		1	Parkglenn Self-Storage	NAP	NAP	NAP	NAP	NAP	NAP
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	NAP	NAP	NAP	NAP	NAP	NAP
14.04	Property		1	30690 Aldine Westfield Rd	NAP	NAP	NAP	NAP	NAP	NAP
14.05	Property		1	13404 E Broncos Pkwy	NAP	NAP	NAP	NAP	NAP	NAP
14.06	Property		1	3803 N Navarro St	NAP	NAP	NAP	NAP	NAP	NAP
14.07	Property		1	2102 NW Stallings Dr	NAP	NAP	NAP	NAP	NAP	NAP
14.08	Property		1	2005 W Wheeler Ave	NAP	NAP	NAP	NAP	NAP	NAP
14.09	Property		1	3817 Gulf Freeway	NAP	NAP	NAP	NAP	NAP	NAP
14.10	Property		1	1600 E General Cavazos Blvd	NAP	NAP	NAP	NAP	NAP	NAP
14.11	Property		1	11615 Rubina Pl	NAP	NAP	NAP	NAP	NAP	NAP
14.12	Property		1	4222 N Main St	NAP	NAP	NAP	NAP	NAP	NAP
14.13	Property		1	12 Irongate Drive	NAP	NAP	NAP	NAP	NAP	NAP
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	New York University	117,382	12.2%	6/30/2027	Kohn Pedersen Fox Associates, P.C.	92,788
16	Loan	6, 16	2	New Mountain - Alliance
16.01	Property		1	11126 McCormick Rd	NAP	NAP	NAP	NAP	NAP	NAP
16.02	Property		1	4775 Aircenter Cir	NAP	NAP	NAP	NAP	NAP	NAP
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	NAP	NAP	NAP	NAP	NAP	NAP
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	Saxon Shoes & Accessories	21,178	3.3%	3/31/2026	The Container Store	18,942
19	Loan	19, 20	1	601 Hawaii St	NAP	NAP	NAP	NAP	NAP	NAP
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	Compass North	7,935	2.5%	6/30/2033	Strategic Wealth	3,540
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio
21.01	Property		1	2011 8th Street	NJ Warehousing LLC	11,000	20.5%	10/31/2027	Sales Support NJ Inc.	8,050
21.02	Property		1	183 Monroe Street	Perfection Electricks	2,800	11.2%	12/31/2025	Sideways Triangle LLC	2,200
21.03	Property		1	2137-2143 Cortelyou Road	Mavros Transportation Inc	900	15.7%	7/31/2028	NAP	NAP
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	NAP	NAP	NAP	NAP	NAP
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	Collectors Universe	130,419	8.2%	11/30/2038	Sumitomo Mitsui Banking	111,605
24	Loan	16, 18, 20	1	4041 Linq Lane	NAP	NAP	NAP	NAP	NAP	NAP
25	Loan	23	1	325 West Side Avenue	NAP	NAP	NAP	NAP	NAP	NAP
26	Loan	16	1	The Lisbon	NAP	NAP	NAP	NAP	NAP	NAP
27	Loan	19, 24	1	8729 Aviation	NAP	NAP	NAP	NAP	NAP	NAP
28	Loan	2	1	1815-1817 Putnam Avenue	NAP	NAP	NAP	NAP	NAP	NAP
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	NAP	NAP	NAP	NAP	NAP
30	Loan		1	Richland Garden Apartments	NAP	NAP	NAP	NAP	NAP	NAP
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	NAP	NAP	NAP	NAP	NAP
32	Loan	16, 19	1	Hampton Inn Douglas	NAP	NAP	NAP	NAP	NAP	NAP
33	Loan	2, 27	1	Hotel Condor	NAP	NAP	NAP	NAP	NAP	NAP
34	Loan		1	Deerfield Estates MHP	NAP	NAP	NAP	NAP	NAP	NAP
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	NAP	NAP	NAP	NAP	NAP	NAP

A-9

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Fourth Largest Tenant % of NRA	Fourth Largest Tenant Lease Expiration Date	Fifth Largest Tenant	Fifth Largest Tenant SF	Fifth Largest Tenant % of NRA	Fifth Largest Tenant Lease Expiration Date	Environmental Phase I Report Date
							4, 21, 22, 23, 28
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	NAP	NAP	NAP	NAP	NAP	6/21/2023
2	Loan	1, 7, 12, 18	1	Westfarms	2.6%	1/31/2025	Anthropologie	11,673	2.3%	1/31/2027	7/17/2023
3	Loan	13, 20	1	Shadow Lake Towne Center	5.6%	10/31/2031	Michaels	21,830	4.1%	9/30/2024	3/27/2023
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	NAP	NAP	NAP	NAP	NAP	NAP	3/17/2023
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street
5.01	Property		1	369 Lexington Avenue	5.5%	10/31/2029	Government of Morocco	8,500	5.4%	12/31/2032	7/27/2023
5.02	Property		1	2 West 46th Street	3.8%	4/30/2024	Carelle Ltd.	3,430	2.4%	8/31/2025	7/27/2023
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	4.3%	3/31/2025	Simpson Gumpertz	20,775	4.2%	11/30/2028	8/22/2023
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	NAP	NAP	NAP	NAP	NAP	9/27/2023
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio
8.01	Property		1	Gilbert Gateway Towne Center	7.2%	1/31/2026	Cost Plus	18,300	6.9%	1/31/2026	7/25/2023
8.02	Property		1	Scottsdale Towne Center	3.0%	3/31/2028	Wells Fargo Bank, N.A.	4,000	2.4%	8/31/2026	7/25/2023
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	5.6%	8/31/2029	Perspecta Labs	27,635	5.0%	10/31/2028	4/14/2023
10	Loan	19, 23, 33	1	Lacey Market Square	1.4%	2/28/2027	JP Morgan Chase Bank	3,300	1.2%	6/7/2027	3/21/2023
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio
11.01	Property		1	West End Social	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.02	Property		1	The Heights	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.03	Property		1	OZ+MO Commons	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.04	Property		1	Wyota Commons	NAP	NAP	NAP	NAP	NAP	NAP	7/11/2023
11.05	Property		1	Sylamore Studios	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.06	Property		1	Montauk Studios	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.07	Property		1	The Dels	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.08	Property		1	Bull Shoals	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.09	Property		1	Center City Commons	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
11.10	Property		1	North Village	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio
12.01	Property		1	3 Cass Street	3.7%	8/31/2028	Craftsman Railing	3,701	3.0%	2/28/2024	7/17/2023
12.02	Property		1	120 Francis Street	9.2%	7/31/2026	Fort Lauderdale Millwork Inc dba FTLA Millwork	6,500	8.6%	12/31/2033	7/17/2023
13	Loan	16	1	New Mountain - Cathay Industries	NAP	NAP	NAP	NAP	NAP	NAP	9/14/2023
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage
14.01	Property		1	2615 East 12th Street	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.02	Property		1	Parkglenn Self-Storage	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	NAP	NAP	NAP	NAP	NAP	NAP	8/20/2023
14.04	Property		1	30690 Aldine Westfield Rd	NAP	NAP	NAP	NAP	NAP	NAP	8/22/2023
14.05	Property		1	13404 E Broncos Pkwy	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.06	Property		1	3803 N Navarro St	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.07	Property		1	2102 NW Stallings Dr	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.08	Property		1	2005 W Wheeler Ave	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.09	Property		1	3817 Gulf Freeway	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.10	Property		1	1600 E General Cavazos Blvd	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.11	Property		1	11615 Rubina Pl	NAP	NAP	NAP	NAP	NAP	NAP	8/28/2023
14.12	Property		1	4222 N Main St	NAP	NAP	NAP	NAP	NAP	NAP	8/25/2023
14.13	Property		1	12 Irongate Drive	NAP	NAP	NAP	NAP	NAP	NAP	8/28/2023
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	9.7%	15,400 SF in 4/30/2027; 77,388 SF in 5/31/2038	Burberry (Wholesale) Limited	45,509	4.7%	8/31/2037	4/24/2023
16	Loan	6, 16	2	New Mountain - Alliance
16.01	Property		1	11126 McCormick Rd	NAP	NAP	NAP	NAP	NAP	NAP	12/27/2022
16.02	Property		1	4775 Aircenter Cir	NAP	NAP	NAP	NAP	NAP	NAP	12/27/2022
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	NAP	NAP	NAP	NAP	NAP	NAP	1/4/2023
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	3.0%	2/29/2032	LL Bean	15,553	2.4%	1/31/2026	5/15/2023
19	Loan	19, 20	1	601 Hawaii St	NAP	NAP	NAP	NAP	NAP	NAP	8/4/2023
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	1.1%	5/31/2033	NAP	NAP	NAP	NAP	6/8/2023
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio
21.01	Property		1	2011 8th Street	15.0%	3,050 SF expiring 2/29/2028; 5,000 SF expiring 8/31/2028	Bumper to Bumper LLC	4,700	8.8%	10/31/2027	8/7/2023
21.02	Property		1	183 Monroe Street	8.8%	6/30/2026	David Estey Piano Service	2,200	8.8%	MTM	8/7/2023
21.03	Property		1	2137-2143 Cortelyou Road	NAP	NAP	NAP	NAP	NAP	NAP	8/7/2023
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	NAP	NAP	NAP	NAP	NAP	6/29/2023
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	7.0%	12/31/2036	Arch Insurance Company	106,815	6.7%	5/31/2024	3/24/2023
24	Loan	16, 18, 20	1	4041 Linq Lane	NAP	NAP	NAP	NAP	NAP	NAP	12/29/2022
25	Loan	23	1	325 West Side Avenue	NAP	NAP	NAP	NAP	NAP	NAP	6/21/2023
26	Loan	16	1	The Lisbon	NAP	NAP	NAP	NAP	NAP	NAP	7/7/2023
27	Loan	19, 24	1	8729 Aviation	NAP	NAP	NAP	NAP	NAP	NAP	6/5/2023
28	Loan	2	1	1815-1817 Putnam Avenue	NAP	NAP	NAP	NAP	NAP	NAP	8/10/2023
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	NAP	NAP	NAP	NAP	NAP	8/7/2023
30	Loan		1	Richland Garden Apartments	NAP	NAP	NAP	NAP	NAP	NAP	8/3/2023
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	NAP	NAP	NAP	NAP	NAP	6/7/2023
32	Loan	16, 19	1	Hampton Inn Douglas	NAP	NAP	NAP	NAP	NAP	NAP	7/12/2023
33	Loan	2, 27	1	Hotel Condor	NAP	NAP	NAP	NAP	NAP	NAP	8/28/2023
34	Loan		1	Deerfield Estates MHP	NAP	NAP	NAP	NAP	NAP	NAP	7/19/2023
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	NAP	NAP	NAP	NAP	NAP	NAP	8/10/2023

A-10

BMO 2023-5C2

Annex A

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

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

Annual Ground Lease Payment as of the Cut-off Date ($)

Annual Ground Rent Increases (Y/N)

Upfront RE Tax Reserve ($)

Monthly RE Tax Reserve ($)

Loan

7, 12, 13, 16, 19, 26, 30

Piazza Alta

NAP

6/20/2023

NAP

Fee

NAP

260,924

19,042

Loan

1, 7, 12, 18

Westfarms

NAP

7/17/2023

NAP

Fee

NAP

Springing

Loan

13, 20

Shadow Lake Towne Center

NAP

3/27/2023

NAP

Fee

NAP

443,871

140,912

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

NAP

3/10/2023

NAP

Fee

NAP

454,721

606,182

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

1,532,209

383,052

5.01

Property

369 Lexington Avenue

NAP

7/27/2023

NAP

Fee

NAP

5.02

Property

2 West 46th Street

NAP

7/27/2023

NAP

Fee

NAP

Loan

7, 19, 20, 23

Lake Merritt Plaza

NAP

7/20/2023

8/1/2023

11%

Fee

NAP

2,088,863

298,409

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

NAP

9/27/2023

NAP

Fee

NAP

58,012

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

222,032

74,011

8.01

Property

Gilbert Gateway Towne Center

NAP

7/25/2023

NAP

Fee

NAP

8.02

Property

Scottsdale Towne Center

NAP

7/25/2023

NAP

Fee

NAP

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

NAP

4/14/2023

NAP

Fee

NAP

102,854

Loan

19, 23, 33

Lacey Market Square

NAP

3/21/2023

13%

Fee

NAP

59,210

29,605

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

82,708

Springing

11.01

Property

West End Social

NAP

7/11/2023

NAP

Fee

NAP

11.02

Property

The Heights

NAP

7/12/2023

NAP

Fee

NAP

11.03

Property

OZ+MO Commons

NAP

7/12/2023

NAP

Fee

NAP

11.04

Property

Wyota Commons

NAP

7/11/2023

NAP

Fee

NAP

11.05

Property

Sylamore Studios

NAP

7/12/2023

NAP

Fee

NAP

11.06

Property

Montauk Studios

NAP

7/11/2023

NAP

Fee

NAP

11.07

Property

The Dels

NAP

7/12/2023

NAP

Fee

NAP

11.08

Property

Bull Shoals

NAP

7/11/2023

NAP

Fee

NAP

11.09

Property

Center City Commons

NAP

7/12/2023

NAP

Yes - AE

Fee

NAP

11.10

Property

North Village

NAP

7/12/2023

NAP

Fee

NAP

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

30,462

15,231

12.01

Property

3 Cass Street

NAP

7/17/2023

NAP

Fee

NAP

12.02

Property

120 Francis Street

NAP

7/17/2023

NAP

Fee

NAP

Loan

New Mountain - Cathay Industries

NAP

9/14/2023

24%

Fee

NAP

Springing

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

Springing

14.01

Property

2615 East 12th Street

NAP

8/25/2023

13%

Fee

NAP

14.02

Property

Parkglenn Self-Storage

NAP

8/25/2023

NAP

Fee

NAP

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

NAP

8/25/2023

NAP

Fee

NAP

14.04

Property

30690 Aldine Westfield Rd

NAP

8/27/2023

NAP

Fee

NAP

14.05

Property

13404 E Broncos Pkwy

NAP

8/25/2023

NAP

Fee

NAP

14.06

Property

3803 N Navarro St

NAP

8/25/2023

NAP

Fee

NAP

14.07

Property

2102 NW Stallings Dr

NAP

8/25/2023

NAP

Fee

NAP

14.08

Property

2005 W Wheeler Ave

NAP

8/25/2023

NAP

Fee

NAP

14.09

Property

3817 Gulf Freeway

NAP

8/25/2023

NAP

Yes - AE

Fee

NAP

14.10

Property

1600 E General Cavazos Blvd

NAP

8/25/2023

NAP

Fee

NAP

14.11

Property

11615 Rubina Pl

NAP

8/25/2023

NAP

Fee

NAP

14.12

Property

4222 N Main St

NAP

8/27/2023

NAP

Fee

NAP

14.13

Property

12 Irongate Drive

NAP

8/25/2023

NAP

Fee

NAP

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

NAP

5/19/2023

NAP

Fee

NAP

Springing

Loan

6, 16

New Mountain - Alliance

Springing

16.01

Property

11126 McCormick Rd

NAP

12/28/2022

NAP

Fee

NAP

16.02

Property

4775 Aircenter Cir

NAP

12/28/2022

12/19/2022

15%

Fee

NAP

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

NAP

1/4/2023

Fee

NAP

88,186

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

NAP

5/14/2023

NAP

Fee

NAP

Springing

Loan

19, 20

601 Hawaii St

NAP

8/18/2023

8/4/2023

14%

Fee

NAP

80,199

10,025

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

NAP

6/8/2023

NAP

Fee

NAP

Springing

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

50,540

16,847

21.01

Property

2011 8th Street

NAP

8/7/2023

NAP

Fee

NAP

21.02

Property

183 Monroe Street

NAP

8/7/2023

NAP

Fee

NAP

21.03

Property

2137-2143 Cortelyou Road

NAP

8/7/2023

NAP

Fee

NAP

Loan

10, 19

2219 N Hamilton Avenue

NAP

6/30/2023

NAP

Fee

NAP

8,322

4,161

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

NAP

3/3/2023

NAP

Yes - AE

Fee

NAP

696,822

Loan

16, 18, 20

4041 Linq Lane

NAP

8/8/2023

NAP

Fee

NAP

7,391

3,696

Loan

325 West Side Avenue

NAP

6/21/2023

NAP

Fee

NAP

33,645

11,783

Loan

The Lisbon

NAP

7/7/2023

NAP

Fee

NAP

146,229

13,294

Loan

19, 24

8729 Aviation

NAP

6/2/2023

6/5/2023

13%

Fee

NAP

44,978

6,815

Loan

1815-1817 Putnam Avenue

NAP

8/14/2023

NAP

Fee

NAP

11,836

3,758

Loan

16, 27

2046 Mapes Avenue

NAP

8/7/2023

NAP

Fee

NAP

1,496

748

Loan

Richland Garden Apartments

NAP

8/3/2023

Fee

NAP

33,184

5,531

Loan

2523-2525 Olinville Avenue

NAP

6/7/2023

NAP

Fee

NAP

2,926

1,463

Loan

16, 19

Hampton Inn Douglas

NAP

7/12/2023

NAP

Fee

NAP

15,945

1,595

Loan

2, 27

Hotel Condor

NAP

8/28/2023

NAP

Fee

NAP

11,662

2,332

Loan

Deerfield Estates MHP

NAP

7/20/2023

NAP

Fee

NAP

4,822

861

Loan

2, 10, 13, 16

84 Hoyt Street

NAP

8/11/2023

NAP

Fee

NAP

412

393

A-11

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Upfront Insurance Reserve ($)	Monthly Insurance Reserve ($)	Upfront Replacement / PIP Reserve ($)	Monthly Replacement / FF&E Reserve ($)
					18	19	18	19
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	144,517	Springing	0	Springing
2	Loan	1, 7, 12, 18	1	Westfarms	0	Springing	0	20,916
3	Loan	13, 20	1	Shadow Lake Towne Center	146,948	12,723	0	5,316
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	103,636	51,818	0	35,517
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	185,941	20,549	0	9,147
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	0	Springing	0	10,230
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	0	Springing	0	Capex: $485.00; FF&E: (i) up to and including May 6, 2025, an amount equal to the greater of (A) 4% of the average gross revenues for the hotel related operations at the Park Pavilion Hotel Unit for the 2 calendar months preceding and (B) $100,000, (ii) after May 6, 2025, an amount equal to 4% of the average gross revenues for the hotel related operations at the Park Pavilion Hotel Unit for 2 calendar months preceding and (iii) the amount required by the Franchisor on account of FF&E under the Franchise Agreement
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	92,009	11,501	0	5,401
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	0	19,240	0	9,217
10	Loan	19, 23, 33	1	Lacey Market Square	0	Springing	0	4,518
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	184,810	Springing	130,750	Springing
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	49,172	9,834	359,843	0
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	0	Springing	0	Springing
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	0	Springing	0	6,941
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	0	Springing	0	Springing
16	Loan	6, 16	2	New Mountain - Alliance	0	Springing	0	Springing
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	22,717	11,359	0	4,967
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	0	Springing	0	Springing
19	Loan	19, 20	1	601 Hawaii St	66,170	5,514	0	Springing
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	0	Springing	0	Springing
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	35,911	11,970	80,250	0
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue	2,964	1,482	0	479
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	272,774	136,387	8,000,000	26,650
24	Loan	16, 18, 20	1	4041 Linq Lane	11,040	5,520	0	1,360
25	Loan	23	1	325 West Side Avenue	17,113	2,852	0	864
26	Loan	16	1	The Lisbon	202,609	33,429	0	7,208
27	Loan	19, 24	1	8729 Aviation	7,520	2,892	0	287
28	Loan	2	1	1815-1817 Putnam Avenue	4,201	800	0	271
29	Loan	16, 27	1	2046 Mapes Avenue	2,250	1,125	0	396
30	Loan		1	Richland Garden Apartments	10,225	1,461	0	833
31	Loan	16	1	2523-2525 Olinville Avenue	2,047	1,024	0	333
32	Loan	16, 19	1	Hampton Inn Douglas	14,541	7,270	0	9,104
33	Loan	2, 27	1	Hotel Condor	8,748	2,916	0	0
34	Loan		1	Deerfield Estates MHP	5,966	1,297	0	492
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	518	250	0	39

A-12

BMO 2023-5C2

Annex A

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 ($)	Monthly Other Reserve ($)
					20	18	19	20	18	19	20	18	18	19
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	0	11,304,598	Springing	0	0	0	0	0	1,911,036	3,250
2	Loan	1, 7, 12, 18	1	Westfarms	0	0	41,833	0	0	0	0	0	3,402,016	0
3	Loan	13, 20	1	Shadow Lake Towne Center	0	3,500,000	Springing	1,500,000	0	0	0	0	1,348,872	0
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	0	0	0	0	0	0	0	22,550	0	Springing
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	0	2,500,000	Springing	2,500,000	0	0	0	7,920	0	0
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	368,250	5,000,000	Springing	5,000,000	0	0	0	0	2,620,671	0
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	30,000	0	2,422	75,000	0	0	0	0	6,157,060	Springing
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	64,810	1,250,000	Springing	648,102	0	0	0	5,688	3,326,843	0
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	221,216	7,000,000	Springing	0	0	0	0	0	10,506,835	Springing
10	Loan	19, 23, 33	1	Lacey Market Square	0	0	11,509	500,000	0	0	0	57,463	184,844	Springing
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	0	0	0	0	0	0	0	0	0	0
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	0	150,000	Springing	150,000	0	0	0	66,800	538,003	0
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	65,400	0	Springing	327,000	0	0	0	0	0	0
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	249,893	0	0	0	0	0	0	61,270	0	0
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	288,170	10,000,000	240,142	0	0	0	0	0	19,165,251	0
16	Loan	6, 16	2	New Mountain - Alliance	0	0	Springing	423,125	0	0	0	0	0	0
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	0	0	Springing	0	0	0	0	0	800,000	0
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	254,198	6,639,981	Springing	2,541,976	0	0	0	0	241,234	0
19	Loan	19, 20	1	601 Hawaii St	0	0	6,344	304,506	0	0	0	0	0	0
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	0	0	Springing	0	0	0	0	0	0	0
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	0	0	4,836	0	0	0	0	141,790	28,125	0
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue	0	0	0	0	0	0	0	0	0	0
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	0	15,000,000	Springing	15,000,000	0	0	0	0	40,614,319	0
24	Loan	16, 18, 20	1	4041 Linq Lane	32,644	0	Springing	0	0	0	0	0	264,000	0
25	Loan	23	1	325 West Side Avenue	0	0	8,123	0	0	0	0	7,875	0	0
26	Loan	16	1	The Lisbon	0	0	0	0	0	0	0	124,063	0	0
27	Loan	19, 24	1	8729 Aviation	0	0	3,095	0	0	0	0	0	0	Springing
28	Loan	2	1	1815-1817 Putnam Avenue	0	0	138	0	0	0	0	7,200	0	0
29	Loan	16, 27	1	2046 Mapes Avenue	0	0	0	0	105,486	0	0	0	350,000	0
30	Loan		1	Richland Garden Apartments	0	0	0	0	0	0	0	17,375	0	0
31	Loan	16	1	2523-2525 Olinville Avenue	12,000	0	0	0	0	0	0	6,325	0	0
32	Loan	16, 19	1	Hampton Inn Douglas	0	0	0	0	0	0	0	0	0	Springing
33	Loan	2, 27	1	Hotel Condor	0	0	0	0	0	0	0	0	0	0
34	Loan		1	Deerfield Estates MHP	0	0	0	0	0	0	0	0	0	0
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	0	0	61	0	0	0	0	36,645	0	0

A-13

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Other Reserve Description	Other Reserve Cap ($)
						20
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	Residential Concession Reserve (Upfront: $889,351), Free Rent Reserve (Upfront: $1,021,685), Common Charges Reserve (Monthly: $3,250)	0
2	Loan	1, 7, 12, 18	1	Westfarms	Outstanding TI/LC Reserve ($3,103,791), Gap Rent/Free Rent Reserve ($298,225.34)	0
3	Loan	13, 20	1	Shadow Lake Towne Center	Unfunded Obligations ($1,232,779), Free Rent Reserve ($116,093)	0
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	Major Tenant Reserve	0
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street		0
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	Unfunded TI Obligation ($1,492,127.74); Free Rent Reserves ($783,141.31); Unfunded LC Obligation ($332,910.13); Unfunded Landlord Work ($12,492)	0
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	PIP Reserve (Upfront: $5,500,000), Unfunded Obligations Reserve (Upfront: $597,060), Seasonality Reserve (Upfront: $60,000, Monthly: Springing)	Seasonality Reserve ($60,000)
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	Unfunded Obligations Reserve ($2,767,600), Free and Gap Rent Reserve ($466,613), Tenant Improvement Work Reserve ($92,629.92)	0
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	TATILC ($8,332,476.77); Rent Concessions ($2,174,357.79); Material Tenant Funds (Springing)	0
10	Loan	19, 23, 33	1	Lacey Market Square	Unfunded Obligations Reserve (Upfront: $173,759.39); Gap Rent (Upfront: $11,084.90); Fixed Deposit Reserve (Monthly: Springing)	0
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	NAP	0
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	Unfunded Obligations Reserve ($350,000); Free Rent Reserve ($100,618); Gap Rent Reserve ($87,385)	0
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries		0
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage		0
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	Landlord Obligation Reserve ($13,479,707.20), Free Rent Reserve ($5,685,543.94)	0
16	Loan	6, 16	2	New Mountain - Alliance		0
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	Lease Security Deposit Reserve	0
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	Gap Rent Reserve	0
19	Loan	19, 20	1	601 Hawaii St	NAP	0
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	NAP	0
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	Free Rent Reserve	0
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue		0
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	Sea Wall Repair Reserve ($25,000,000), Unfunded Obligations Reserve ($14,195,734), Elevator Modernization Reserve ($1,418,585.35)	0
24	Loan	16, 18, 20	1	4041 Linq Lane	Roof Replacement Reserve	0
25	Loan	23	1	325 West Side Avenue	NAP	0
26	Loan	16	1	The Lisbon		0
27	Loan	19, 24	1	8729 Aviation	Material Tenant Funds	0
28	Loan	2	1	1815-1817 Putnam Avenue		0
29	Loan	16, 27	1	2046 Mapes Avenue	421-a Reserve	0
30	Loan		1	Richland Garden Apartments	NAP	0
31	Loan	16	1	2523-2525 Olinville Avenue		0
32	Loan	16, 19	1	Hampton Inn Douglas	Inspection Reserve	0
33	Loan	2, 27	1	Hotel Condor		0
34	Loan		1	Deerfield Estates MHP		0
35	Loan	2, 10, 13, 16	1	84 Hoyt Street		0

A-14

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Holdback/ Earnout Amount ($)	Holdback/ Earnout Description	Lockbox Type	Cash Management	Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N)
							26	26
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	NAP	Soft (Residential); Hard (Commercial)	In Place	Yes
2	Loan	1, 7, 12, 18	1	Westfarms	NAP	NAP	Hard	Springing	Yes
3	Loan	13, 20	1	Shadow Lake Towne Center	5,000,000	Following lender’s determination that the holdback debt yield is equal or greater than 9.5% in connection with the related disbursement request, lender will disburse available holdback reserve funds to borrower	Hard	Springing	Yes
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	NAP	NAP	Hard	Springing	Yes
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	NAP	NAP	Hard	Springing	Yes
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	NAP	NAP	Hard	Springing	Yes
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	NAP	Hard	Springing	Yes
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	NAP	NAP	Hard	Springing	Yes
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	NAP	NAP	Hard	Springing	Yes
10	Loan	19, 23, 33	1	Lacey Market Square	NAP	NAP	Springing	Springing	Yes
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	NAP	NAP	Springing	Springing	Yes
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	NAP	NAP	Springing	Springing	Yes
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	NAP	NAP	Hard	Springing	Yes
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	NAP	NAP	Soft	Springing	Yes
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	NAP	NAP	Hard	Springing	Yes
16	Loan	6, 16	2	New Mountain - Alliance	NAP	NAP	Hard	Springing	Yes
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	NAP	NAP	Springing	Springing	Yes
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	NAP	NAP	Hard	Springing	Yes
19	Loan	19, 20	1	601 Hawaii St	NAP	NAP	Hard	Springing	Yes
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	NAP	NAP	Hard	Springing	Yes
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	NAP	NAP	Springing	Springing	Yes
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	NAP	None	None	Yes
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	NAP	NAP	Hard	Springing	Yes
24	Loan	16, 18, 20	1	4041 Linq Lane	NAP	NAP	Hard	Springing	Yes
25	Loan	23	1	325 West Side Avenue	NAP	NAP	Hard	Springing	Yes
26	Loan	16	1	The Lisbon	NAP	NAP	Springing	Springing	Yes
27	Loan	19, 24	1	8729 Aviation	NAP	NAP	Hard	Springing	Yes
28	Loan	2	1	1815-1817 Putnam Avenue	NAP	NAP	Springing	Springing	Yes
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	NAP	Springing	Springing	Yes
30	Loan		1	Richland Garden Apartments	NAP	NAP	Springing	Springing	Yes
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	NAP	Soft	Springing	Yes
32	Loan	16, 19	1	Hampton Inn Douglas	NAP	NAP	Springing	Springing	Yes
33	Loan	2, 27	1	Hotel Condor	NAP	NAP	Hard	In Place	Yes
34	Loan		1	Deerfield Estates MHP	NAP	NAP	Springing	Springing	Yes
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	NAP	NAP	Springing	Springing	Yes

A-15

BMO 2023-5C2

Annex A

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

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

7, 12, 13, 16, 19, 26, 30

Piazza Alta

Yes

75,000,000

110,900,000

438,155.40

734,473.30

NAP

185,900,000

734,473.30

Loan

1, 7, 12, 18

Westfarms

Yes

65,000,000

177,000,000

1,165,731.42

1,593,824.88

NAP

242,000,000

1,593,824.88

Loan

13, 20

Shadow Lake Towne Center

Yes

NAP

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

Yes

62,500,000

32,500,000

200,179.69

585,140.63

NAP

95,000,000

585,140.63

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

Yes

58,000,000

43,450,000

292,221.37

682,298.22

NAP

101,450,000

682,298.22

5.01

Property

369 Lexington Avenue

5.02

Property

2 West 46th Street

Loan

7, 19, 20, 23

Lake Merritt Plaza

Yes

45,000,000

35,000,000

236,934.85

541,565.37

NAP

80,000,000

541,565.37

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

Yes

31,500,000

8,000,000

56,710.19

280,006.54

NAP

39,500,000

280,006.54

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

Yes

30,000,000

51,000,000

338,258.69

537,234.38

NAP

81,000,000

537,234.38

8.01

Property

Gilbert Gateway Towne Center

8.02

Property

Scottsdale Towne Center

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

Yes

30,000,000

25,000,000

168,664.64

371,062.21

NAP

55,000,000

371,062.21

Loan

19, 23, 33

Lacey Market Square

Yes

NAP

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

NAP

11.01

Property

West End Social

11.02

Property

The Heights

11.03

Property

OZ+MO Commons

11.04

Property

Wyota Commons

11.05

Property

Sylamore Studios

11.06

Property

Montauk Studios

11.07

Property

The Dels

11.08

Property

Bull Shoals

11.09

Property

Center City Commons

11.10

Property

North Village

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

Yes

NAP

12.01

Property

3 Cass Street

12.02

Property

120 Francis Street

Loan

New Mountain - Cathay Industries

Yes

NAP

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

Yes

20,000,000

65,000,000

386,080.44

504,874.42

NAP

85,000,000

504,874.42

14.01

Property

2615 East 12th Street

14.02

Property

Parkglenn Self-Storage

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

14.04

Property

30690 Aldine Westfield Rd

14.05

Property

13404 E Broncos Pkwy

14.06

Property

3803 N Navarro St

14.07

Property

2102 NW Stallings Dr

14.08

Property

2005 W Wheeler Ave

14.09

Property

3817 Gulf Freeway

14.10

Property

1600 E General Cavazos Blvd

14.11

Property

11615 Rubina Pl

14.12

Property

4222 N Main St

14.13

Property

12 Irongate Drive

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

Yes

18,833,333

255,166,667

1,604,006.02

1,722,394.44

NAP

274,000,000

1,722,394.44

Loan

6, 16

New Mountain - Alliance

Yes

NAP

16.01

Property

11126 McCormick Rd

16.02

Property

4775 Aircenter Cir

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

Yes

18,000,000

52,000,000

356,841.58

480,363.66

NAP

70,000,000

480,363.66

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

Yes

17,500,000

162,500,000

1,139,980.76

1,262,747.92

NAP

180,000,000

1,262,747.92

Loan

19, 20

601 Hawaii St

Yes

NAP

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

Yes

15,000,000

79,000,000

493,098.53

586,724.83

NAP

94,000,000

586,724.83

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

Yes

NAP

21.01

Property

2011 8th Street

21.02

Property

183 Monroe Street

21.03

Property

2137-2143 Cortelyou Road

Loan

10, 19

2219 N Hamilton Avenue

NAP

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

Yes

10,000,000

215,000,000

1,060,865.74

1,110,208.33

NAP

225,000,000

1,110,208.33

Loan

16, 18, 20

4041 Linq Lane

Yes

NAP

Loan

325 West Side Avenue

Yes

NAP

Loan

The Lisbon

NAP

Loan

19, 24

8729 Aviation

NAP

Loan

1815-1817 Putnam Avenue

NAP

Loan

16, 27

2046 Mapes Avenue

NAP

Loan

Richland Garden Apartments

NAP

Loan

2523-2525 Olinville Avenue

NAP

Loan

16, 19

Hampton Inn Douglas

NAP

Loan

2, 27

Hotel Condor

Yes

NAP

Loan

Deerfield Estates MHP

NAP

Loan

2, 10, 13, 16

84 Hoyt Street

NAP

A-16

BMO 2023-5C2

Annex A

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

7, 12, 13, 16, 19, 26, 30

Piazza Alta

39.5%

2.46

11.8%

126,100,000

8.50000%

312,000,000

1,640,087.30

66.3%

1.10

7.0%

Loan

1, 7, 12, 18

Westfarms

44.2%

1.76

14.4%

NAP

Loan

13, 20

Shadow Lake Towne Center

NAP

Yes

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

48.7%

2.01

16.3%

NAP

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

59.3%

1.30

11.2%

NAP

5.01

Property

369 Lexington Avenue

5.02

Property

2 West 46th Street

Loan

7, 19, 20, 23

Lake Merritt Plaza

33.0%

2.39

20.6%

NAP

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

51.8%

1.55

15.2%

NAP

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

56.5%

1.30

10.8%

7,000,000

13.00000%

88,000,000

614,120.95

61.3%

1.14

9.9%

8.01

Property

Gilbert Gateway Towne Center

8.02

Property

Scottsdale Towne Center

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

48.2%

1.79

14.7%

NAP

Loan

19, 23, 33

Lacey Market Square

NAP

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

NAP

11.01

Property

West End Social

11.02

Property

The Heights

11.03

Property

OZ+MO Commons

11.04

Property

Wyota Commons

11.05

Property

Sylamore Studios

11.06

Property

Montauk Studios

11.07

Property

The Dels

11.08

Property

Bull Shoals

11.09

Property

Center City Commons

11.10

Property

North Village

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

NAP

12.01

Property

3 Cass Street

12.02

Property

120 Francis Street

Loan

New Mountain - Cathay Industries

NAP

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

59.9%

1.20

8.6%

NAP

14.01

Property

2615 East 12th Street

14.02

Property

Parkglenn Self-Storage

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

14.04

Property

30690 Aldine Westfield Rd

14.05

Property

13404 E Broncos Pkwy

14.06

Property

3803 N Navarro St

14.07

Property

2102 NW Stallings Dr

14.08

Property

2005 W Wheeler Ave

14.09

Property

3817 Gulf Freeway

14.10

Property

1600 E General Cavazos Blvd

14.11

Property

11615 Rubina Pl

14.12

Property

4222 N Main St

14.13

Property

12 Irongate Drive

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

49.4%

1.39

11.6%

56,000,000

14.00000%

330,000,000

2,384,801.85

59.5%

1.00

9.6%

Loan

6, 16

New Mountain - Alliance

NAP

16.01

Property

11126 McCormick Rd

16.02

Property

4775 Aircenter Cir

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

43.4%

1.33

11.2%

10,000,000

10.25000%

80,000,000

566,966.67

49.6%

1.13

9.8%

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

47.6%

1.61

14.3%

NAP

Loan

19, 20

601 Hawaii St

NAP

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

62.4%

1.39

10.6%

NAP

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

NAP

21.01

Property

2011 8th Street

21.02

Property

183 Monroe Street

21.03

Property

2137-2143 Cortelyou Road

Loan

10, 19

2219 N Hamilton Avenue

NAP

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

56.8%

2.36

14.7%

55,000,000

10.50000%

280,000,000

1,598,142.36

70.7%

1.64

11.8%

Yes

Loan

16, 18, 20

4041 Linq Lane

NAP

Loan

325 West Side Avenue

NAP

Loan

The Lisbon

NAP

Loan

19, 24

8729 Aviation

NAP

Loan

1815-1817 Putnam Avenue

NAP

Loan

16, 27

2046 Mapes Avenue

NAP

Loan

Richland Garden Apartments

NAP

Loan

2523-2525 Olinville Avenue

NAP

Loan

16, 19

Hampton Inn Douglas

NAP

Loan

2, 27

Hotel Condor

NAP

Loan

Deerfield Estates MHP

NAP

Loan

2, 10, 13, 16

84 Hoyt Street

NAP

Yes

A-17

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Future Debt Permitted Type	Sponsor
					13
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	NAP	Matthew Pestronk and Michael Pestronk
2	Loan	1, 7, 12, 18	1	Westfarms	NAP	The Taubman Realty Group LLC
3	Loan	13, 20	1	Shadow Lake Towne Center	Future Mezzanine Loan	PREP Property Group LLC
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	NAP	David Werner
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	NAP	Faraj Srour and Joseph Stavrach
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	NAP	BCP LMP Harrison Equity LLC
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	NAP	David D. Marvin
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	NAP	Karim Kanjiyani, Saleem Kanjiyani and Yasmin Daredia
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	NAP	Richard Chera and Maurice Zekaria
10	Loan	19, 23, 33	1	Lacey Market Square	NAP	L&R Towers, Rubin-Pachulski Properties L.P. and Rubin-Pachulski Properties, 36, LLC
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	NAP	Mark J. Bertel, Jr.
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	NAP	Avrohom Schlaff and Chanie Ann Bierman
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	NAP	New Mountain Net Lease Partners II Corporation
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	NAP	Centerbridge Partners Real Estate Fund, L.P. and CCP III AIV III, L.P.
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	NAP	Tishman Speyer Properties, L.P. and Silverstein Properties, LLC
16	Loan	6, 16	2	New Mountain - Alliance	NAP	New Mountain Net Lease Partners II Corporation
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	NAP	Devi Alfaks, Moshe Kupferstein, Dib Chaaya, Edward Alfaks, Morris Alfaks and Salim Mann
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	NAP	Forest City Realty Trust, LLC, MJGT Associates, LLC, and Queensland Investment Corporation
19	Loan	19, 20	1	601 Hawaii St	NAP	Michael Niven
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	NAP	John Kukral or Michael Profenius
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	NAP	Avrohom Schlaff
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue	NAP	Anthony John Chedid III
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	Future Mezzanine Loan	Mark Karasick and Michael Silberberg
24	Loan	16, 18, 20	1	4041 Linq Lane	NAP	Richard L. Day
25	Loan	23	1	325 West Side Avenue	NAP	A. Alexander Lari
26	Loan	16	1	The Lisbon	NAP	Paul Turovsky and Rostilav Grigorenko
27	Loan	19, 24	1	8729 Aviation	NAP	Alan True and Twila True
28	Loan	2	1	1815-1817 Putnam Avenue	NAP	Daniel Azoulay
29	Loan	16, 27	1	2046 Mapes Avenue	NAP	Jacob Landau
30	Loan		1	Richland Garden Apartments	NAP	Raul Luna
31	Loan	16	1	2523-2525 Olinville Avenue	NAP	Yeruchem Israel
32	Loan	16, 19	1	Hampton Inn Douglas	NAP	Kendra Plummer
33	Loan	2, 27	1	Hotel Condor	NAP	Zelig Weiss and Fedor Itskovich
34	Loan		1	Deerfield Estates MHP	NAP	Kalman Tokarsky and Benzion Friedman
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	Future Mezzanine Loan	Abe Cohen

A-18

BMO 2023-5C2

Annex A

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)
					24		33		29
1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	Matthew Pestronk and Michael Pestronk	No	No	Refinance	No
2	Loan	1, 7, 12, 18	1	Westfarms	The Taubman Realty Group LLC	No	No	Refinance	No
3	Loan	13, 20	1	Shadow Lake Towne Center	PREP Property Group LLC	No	No	Refinance	No
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	David Werner	No	No	Acquisition	No
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	Joseph Stavrach and Faraj Srour	No	Yes	Refinance
5.01	Property		1	369 Lexington Avenue					No
5.02	Property		1	2 West 46th Street					No
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	NAP	No	No	Recapitalization	No
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	David D. Marvin	No	No	Refinance	No
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	Karim Kanjiyani, Saleem Kanjiyani and Yasmin Daredia	No	No	Refinance
8.01	Property		1	Gilbert Gateway Towne Center					No
8.02	Property		1	Scottsdale Towne Center					No
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	Richard Chera and Maurice Zekaria	No	No	Refinance	No
10	Loan	19, 23, 33	1	Lacey Market Square	L&R Towers, Rubin-Pachulski Properties L.P. and Rubin-Pachulski Properties, 36, LLC	No	No	Refinance	No
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	Mark J. Bertel, Jr.	No	No	Refinance
11.01	Property		1	West End Social					No
11.02	Property		1	The Heights					No
11.03	Property		1	OZ+MO Commons					No
11.04	Property		1	Wyota Commons					No
11.05	Property		1	Sylamore Studios					No
11.06	Property		1	Montauk Studios					No
11.07	Property		1	The Dels					No
11.08	Property		1	Bull Shoals					No
11.09	Property		1	Center City Commons					No
11.10	Property		1	North Village					No
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	Avrohom Schlaff and Chanie Ann Bierman	No	Yes	Refinance
12.01	Property		1	3 Cass Street					No
12.02	Property		1	120 Francis Street					No
13	Loan	16	1	New Mountain - Cathay Industries	New Mountain Net Lease Partners II Corporation	No	No	Recapitalization	No
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	Merit Hill Holdings REIT LLC and Merit Hill Holdings REIT II LLC	No	No	Refinance
14.01	Property		1	2615 East 12th Street					No
14.02	Property		1	Parkglenn Self-Storage					No
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive					No
14.04	Property		1	30690 Aldine Westfield Rd					No
14.05	Property		1	13404 E Broncos Pkwy					No
14.06	Property		1	3803 N Navarro St					No
14.07	Property		1	2102 NW Stallings Dr					No
14.08	Property		1	2005 W Wheeler Ave					No
14.09	Property		1	3817 Gulf Freeway					No
14.10	Property		1	1600 E General Cavazos Blvd					No
14.11	Property		1	11615 Rubina Pl					No
14.12	Property		1	4222 N Main St					No
14.13	Property		1	12 Irongate Drive					No
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	11 West 42 Realty Investors, L.L.C.	No	No	Refinance	No
16	Loan	6, 16	2	New Mountain - Alliance	New Mountain Net Lease Partners II Corporation	No	No	Recapitalization
16.01	Property		1	11126 McCormick Rd					No
16.02	Property		1	4775 Aircenter Cir					No
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics	Devi Alfaks, Moshe Kupferstein, Dib Chaaya, Edward Alfaks, Morris Alfaks and Salim Mann	No	No	Acquisition	No
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center	Forest City Realty Trust LLC	No	No	Refinance	No
19	Loan	19, 20	1	601 Hawaii St	Michael Niven	No	No	Refinance	No
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne	Northwood Real Estate Partners LP, Northwood Real Estate Partners TE LP, Northwood Employees LP, Northwood Real Estate Co-Investors LP, Northwood Employees Co-Invest LP and Northwood Real Estate Co-Investors TE LP	No	No	Refinance	No
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio	Avrohom Schlaff	No	No	Refinance
21.01	Property		1	2011 8th Street					No
21.02	Property		1	183 Monroe Street					No
21.03	Property		1	2137-2143 Cortelyou Road					No
22	Loan	10, 19	1	2219 N Hamilton Avenue	Anthony John Chedid III	No	No	Refinance	No
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3	Mark Karasick and Michael Silberberg	No	Yes	Acquisition	No
24	Loan	16, 18, 20	1	4041 Linq Lane	Richard L. Day	No	No	Refinance	No
25	Loan	23	1	325 West Side Avenue	A. Alexander Lari	No	No	Refinance	No
26	Loan	16	1	The Lisbon	Paul Turovsky and Rostilav Grigorenko	No	No	Refinance	No
27	Loan	19, 24	1	8729 Aviation	Alan True and Twila True	No	No	Recapitalization	No
28	Loan	2	1	1815-1817 Putnam Avenue	Daniel Azoulay	No	No	Refinance	No
29	Loan	16, 27	1	2046 Mapes Avenue	Jacob Landau	No	No	Refinance	No
30	Loan		1	Richland Garden Apartments	Raul Luna	No	No	Refinance	No
31	Loan	16	1	2523-2525 Olinville Avenue	Yeruchem Israel	No	No	Refinance	No
32	Loan	16, 19	1	Hampton Inn Douglas	Kendra Plummer	No	No	Refinance	No
33	Loan	2, 27	1	Hotel Condor	Zelig Weiss and Fedor Itskovich	No	No	Refinance	No
34	Loan		1	Deerfield Estates MHP	Kalman Tokarsky and Benzion Friedman	No	No	Refinance	No
35	Loan	2, 10, 13, 16	1	84 Hoyt Street	Abe Cohen	No	No	Refinance	No

A-19

BMO 2023-5C2

Annex A

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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 ($)	Uses: Total Uses ($)

1	Loan	7, 12, 13, 16, 19, 26, 30	1	Piazza Alta	185,900,000	20,203,569	126,100,000	0	332,203,569	294,834,291	0	23,748,203	13,621,075	0	0	332,203,569
2	Loan	1, 7, 12, 18	1	Westfarms	242,000,000	3,317,606	0	0	245,317,606	240,789,383	0	1,126,207	3,402,016	0	0	245,317,606
3	Loan	13, 20	1	Shadow Lake Towne Center	62,500,000	0	0	0	62,500,000	39,048,885	0	5,747,760	10,439,691	7,263,665	0	62,500,000
4	Loan	1, 7, 12, 16, 23	1	Arcola Corporate Campus	95,000,000	90,000,000	0	0	185,000,000	0	171,299,601	13,119,492	580,907	0	0	185,000,000
5	Loan	1, 6, 7, 10, 12, 21, 23, 33	2	369 Lexington Avenue & 2 West 46th Street	101,450,000	100,000	0	0	101,550,000	93,560,335	0	3,763,595	4,226,070	0	0	101,550,000
5.01	Property		1	369 Lexington Avenue
5.02	Property		1	2 West 46th Street
6	Loan	7, 19, 20, 23	1	Lake Merritt Plaza	80,000,000	0	0	0	80,000,000	0	0	1,357,314	9,709,535	68,933,151	0	80,000,000
7	Loan	2, 7, 12, 18, 19, 20, 30	1	Hilton Garden Inn Atlanta Downtown	39,500,000	4,997,119	0	0	44,497,119	35,750,387	0	2,531,660	6,215,072	0	0	44,497,119
8	Loan	4, 5, 6, 7, 12, 13, 19, 23, 31	2	Scottsdale Gilbert Retail Portfolio	81,000,000	0	7,000,000	0	88,000,000	56,431,784	0	3,166,688	4,896,572	23,504,956	0	88,000,000
8.01	Property		1	Gilbert Gateway Towne Center
8.02	Property		1	Scottsdale Towne Center
9	Loan	4, 7, 12, 15, 16, 19, 21, 23	1	River Centre	55,000,000	1,208,852	0	0	56,208,852	35,000,000	0	3,599,163	17,609,689	0	0	56,208,852
10	Loan	19, 23, 33	1	Lacey Market Square	26,100,000	0	0	0	26,100,000	23,965,923	0	1,247,801	301,516	584,760	0	26,100,000
11	Loan	5, 6, 16, 30, 31	10	Dels Multifamily Portfolio	23,650,000	0	0	0	23,650,000	13,331,649	0	1,218,965	398,268	8,701,118	0	23,650,000
11.01	Property		1	West End Social
11.02	Property		1	The Heights
11.03	Property		1	OZ+MO Commons
11.04	Property		1	Wyota Commons
11.05	Property		1	Sylamore Studios
11.06	Property		1	Montauk Studios
11.07	Property		1	The Dels
11.08	Property		1	Bull Shoals
11.09	Property		1	Center City Commons
11.10	Property		1	North Village
12	Loan	4, 6, 23, 31, 33	2	Keyport Industrial Portfolio	21,000,000	72,153	0	0	21,072,153	18,788,500	0	1,089,373	1,194,280	0	0	21,072,153
12.01	Property		1	3 Cass Street
12.02	Property		1	120 Francis Street
13	Loan	16	1	New Mountain - Cathay Industries	20,520,000	0	0	0	20,520,000	0	0	1,243,245	0	19,276,755	0	20,520,000
14	Loan	1, 3, 5, 7, 12	13	Merit Hill Self Storage	85,000,000	150,000	0	0	85,150,000	67,545,410	0	17,543,320	61,270	0	0	85,150,000
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15	Loan	1, 4, 7, 12, 13, 19, 21, 23, 24	1	11 West 42nd Street	274,000,000	13,988,916	56,000,000	0	343,988,916	301,013,950	0	13,809,715	29,165,251	0	0	343,988,916
16	Loan	6, 16	2	New Mountain - Alliance
16.01	Property		1	11126 McCormick Rd
16.02	Property		1	4775 Aircenter Cir
17	Loan	2, 7, 12, 13, 16, 20	1	California High Tech Logistics
18	Loan	1, 5, 12, 18, 19, 20, 24	1	Short Pump Town Center
19	Loan	19, 20	1	601 Hawaii St
20	Loan	7, 10, 12, 16, 21	1	Overlook at Ballantyne
21	Loan	2, 6, 16, 21, 31	3	The Schlaff Mixed Use Portfolio
21.01	Property		1	2011 8th Street
21.02	Property		1	183 Monroe Street
21.03	Property		1	2137-2143 Cortelyou Road
22	Loan	10, 19	1	2219 N Hamilton Avenue
23	Loan	1, 4, 7, 12, 13, 20, 33	1	Harborside 2-3
24	Loan	16, 18, 20	1	4041 Linq Lane
25	Loan	23	1	325 West Side Avenue
26	Loan	16	1	The Lisbon
27	Loan	19, 24	1	8729 Aviation
28	Loan	2	1	1815-1817 Putnam Avenue
29	Loan	16, 27	1	2046 Mapes Avenue
30	Loan		1	Richland Garden Apartments
31	Loan	16	1	2523-2525 Olinville Avenue
32	Loan	16, 19	1	Hampton Inn Douglas
33	Loan	2, 27	1	Hotel Condor
34	Loan		1	Deerfield Estates MHP
35	Loan	2, 10, 13, 16	1	84 Hoyt Street

A-20

BMO 2023-5C2

Annex A

Loan ID Number

Loan / Property Flag

Footnotes (for Loan and Property Information)

# of Properties

Property Name

Franchise Agreement Expiration

Underwritten ADR ($)

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

7, 12, 13, 16, 19, 26, 30

Piazza Alta

NAP

Loan

1, 7, 12, 18

Westfarms

NAP

Loan

13, 20

Shadow Lake Towne Center

NAP

Loan

1, 7, 12, 16, 23

Arcola Corporate Campus

NAP

Loan

1, 6, 7, 10, 12, 21, 23, 33

369 Lexington Avenue & 2 West 46th Street

NAP

5.01

Property

369 Lexington Avenue

NAP

5.02

Property

2 West 46th Street

NAP

Loan

7, 19, 20, 23

Lake Merritt Plaza

NAP

Loan

2, 7, 12, 18, 19, 20, 30

Hilton Garden Inn Atlanta Downtown

9/1/2028

200.40

146.22

73.0%

200.40

146.22

73.0%

193.68

136.26

70.4%

159.60

102.92

64.5%

Loan

4, 5, 6, 7, 12, 13, 19, 23, 31

Scottsdale Gilbert Retail Portfolio

NAP

8.01

Property

Gilbert Gateway Towne Center

NAP

8.02

Property

Scottsdale Towne Center

NAP

Loan

4, 7, 12, 15, 16, 19, 21, 23

River Centre

NAP

Loan

19, 23, 33

Lacey Market Square

NAP

Loan

5, 6, 16, 30, 31

Dels Multifamily Portfolio

NAP

11.01

Property

West End Social

NAP

11.02

Property

The Heights

NAP

11.03

Property

OZ+MO Commons

NAP

11.04

Property

Wyota Commons

NAP

11.05

Property

Sylamore Studios

NAP

11.06

Property

Montauk Studios

NAP

11.07

Property

The Dels

NAP

11.08

Property

Bull Shoals

NAP

11.09

Property

Center City Commons

NAP

11.10

Property

North Village

NAP

Loan

4, 6, 23, 31, 33

Keyport Industrial Portfolio

NAP

12.01

Property

3 Cass Street

NAP

12.02

Property

120 Francis Street

NAP

Loan

New Mountain - Cathay Industries

NAP

Loan

1, 3, 5, 7, 12

Merit Hill Self Storage

NAP

14.01

Property

2615 East 12th Street

NAP

14.02

Property

Parkglenn Self-Storage

NAP

14.03

Property

630 Macarthur Boulevard & 59 Jonathan Bourne Drive

NAP

14.04

Property

30690 Aldine Westfield Rd

NAP

14.05

Property

13404 E Broncos Pkwy

NAP

14.06

Property

3803 N Navarro St

NAP

14.07

Property

2102 NW Stallings Dr

NAP

14.08

Property

2005 W Wheeler Ave

NAP

14.09

Property

3817 Gulf Freeway

NAP

14.10

Property

1600 E General Cavazos Blvd

NAP

14.11

Property

11615 Rubina Pl

NAP

14.12

Property

4222 N Main St

NAP

14.13

Property

12 Irongate Drive

NAP

Loan

1, 4, 7, 12, 13, 19, 21, 23, 24

11 West 42nd Street

NAP

Loan

6, 16

New Mountain - Alliance

NAP

16.01

Property

11126 McCormick Rd

NAP

16.02

Property

4775 Aircenter Cir

NAP

Loan

2, 7, 12, 13, 16, 20

California High Tech Logistics

NAP

Loan

1, 5, 12, 18, 19, 20, 24

Short Pump Town Center

NAP

Loan

19, 20

601 Hawaii St

NAP

Loan

7, 10, 12, 16, 21

Overlook at Ballantyne

NAP

Loan

2, 6, 16, 21, 31

The Schlaff Mixed Use Portfolio

NAP

21.01

Property

2011 8th Street

NAP

21.02

Property

183 Monroe Street

NAP

21.03

Property

2137-2143 Cortelyou Road

NAP

Loan

10, 19

2219 N Hamilton Avenue

NAP

Loan

1, 4, 7, 12, 13, 20, 33

Harborside 2-3

NAP

Loan

16, 18, 20

4041 Linq Lane

NAP

Loan

325 West Side Avenue

NAP

Loan

The Lisbon

NAP

Loan

19, 24

8729 Aviation

NAP

Loan

1815-1817 Putnam Avenue

NAP

Loan

16, 27

2046 Mapes Avenue

NAP

Loan

Richland Garden Apartments

NAP

Loan

2523-2525 Olinville Avenue

NAP

Loan

16, 19

Hampton Inn Douglas

7/31/2031

115.56

95.91

83.0%

115.56

102.29

88.5%

107.62

92.17

85.6%

108.05

72.34

66.9%

Loan

2, 27

Hotel Condor

NAP

NAV

177.86

133.10

72.9%

170.87

131.40

76.9%

155.45

112.24

72.2%

Loan

Deerfield Estates MHP

NAP

Loan

2, 10, 13, 16

84 Hoyt Street

NAP

A-21

BMO 2023-5C2 ANNEX A-1 FOOTNOTES v1

(1 – Mortgage Loan Seller)

“BMO” denotes Bank of Montreal as Mortgage Loan Seller, “SMC” denotes Starwood Mortgage Capital LLC as Mortgage Loan Seller, “CREFI” denotes Citi Real Estate Funding Inc. as Mortgage Loan Seller, “SGFC” denotes Société Générale Financial Corporation as Mortgage Loan Seller, “UBS AG” denotes UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York as Mortgage Loan Seller, “GSMC” denotes Goldman Sachs Mortgage Company as Mortgage Loan Seller, “LMF” denotes LMF Commercial, LLC as Mortgage Loan Seller and “GACC” denotes German American Capital Corporation as Mortgage Loan Seller.

With respect to Loan No. 2, Westfarms, the mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA and Wells Fargo Bank, National Association.

With respect to Loan No. 4, Arcola Corporate Campus, the mortgage loan is part of a whole loan that was co-originated by SMC and BMO.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the mortgage loan is part of a whole loan that was co-originated by CREFI and BMO.

With respect to Loan No. 14, Merit Hill Self Storage, the mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA and Wells Fargo Bank, National Association.

With respect to Loan No. 15, 11 West 42nd Street, the mortgage loan is part of a whole loan that was co-originated by Bank of America, N.A., LMF and UBS AG.

With respect to Loan No. 18, Short Pump Town Center, the mortgage loan is part of a whole loan that was co-originated by Goldman Sachs Bank USA and Bank of America, N.A.

With respect to Loan No. 23, Harborside 2-3, the mortgage loan is part of a whole loan that was co-originated by CREFI and BMO.

(2 – Property Type)

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the mortgaged property consists of 242 hotel rooms and 29,066 square feet of retail space and is subject to two separate condominium regimes: “Park Pavilion Master Condominium” and the “Centennial Park West Condominium”. The Park Pavilion Master Condominium has eight total units, and the borrower owns five condominium units (one hotel unit and four retail units), constituting of 93.5% of the condominium units, common areas and all other property interests comprising the Hilton Garden Inn Atlanta Downtown Property that are subject to the Park Pavilion Master Condominium documents. The Centennial Park West Condominium consists of four commercial condominium units owned by the borrower (which constitute an undivided 10.4% ownership percentage in the Centennial Park West common elements as set forth in the Centennial Park West Condominium documents) and 94 residential condominium units, which are not owned by the borrower and are not part of the collateral securing the Hilton Garden Inn Atlanta Downtown whole loan.

With respect to Loan No. 17, California High Tech Logistics, the mortgaged property consists of a 596,090 square feet warehouse/distribution center with approximately 586,090 square feet of warehouse space and 10,000 square feet of office space.

With respect to Loan No. 21, The Schlaff Mixed Use Portfolio, the mortgaged properties consist of two industrial properties totaling 78,450 square feet and one mixed use property that consists of 3,000 square feet of retail space and four (2,729 square feet) residential units.

A-22

With respect to Loan No. 28, 1815-1817 Putnam Avenue, the mortgaged property consists of 15 multifamily units and 1,650 square feet of retail space.

With respect to Loan No. 33, Hotel Condor, the mortgaged property consists of a 35-room limited-service hotel which is operated by LuxUrban RE Holdings, LLC under a triple-net lease for 100% of the premises that commenced paying rent in September 2023 and expires in September 2038. The Hotel Condor mortgage loan was underwritten based on the in-place lease to LuxUrban RE Holdings, LLC.

With respect to Loan No. 35, 84 Hoyt Street, the mortgaged property consists of 2 multifamily units and 733 square feet of retail space.

(3 – Number of Units)

Certain of the mortgage loans include parcels ground leased to tenants in the calculation of the total square footage and the occupancy of the mortgaged property.

With respect to Loan No. 14, Merit Hill Self Storage, the Most Recent Occupancy field represents the average occupancy for the 12 months ended 7/31/2023, while the Current Occupancy field represents occupancy as of 7/31/2023.

(4 – Leased Occupancy %)

In certain cases, the mortgaged properties may have tenants that have executed leases that were included in the underwriting but that have not yet commenced paying rent and/or are not in occupancy.

For tenants that are one of the top 5 tenants (by net rentable area leased) for the 15 largest mortgage loans, certain of such tenants have not taken possession or commenced paying rent or sublease a material portion of their property. See “Description of the Mortgage Pool—Tenant Issues— Rights to Sublease” and “--Tenants Not Yet in Occupancy or in a Free Rent Period, Leases Under Negotiation and LOIs” in the prospectus.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the Largest Tenant at the Scottsdale Towne Center mortgaged property, Mountainside Fitness, representing approximately 29.9% of the net rentable square footage, is expected to take occupancy in April 2024.

With respect to Loan No. 9, River Centre, Leased Occupancy (%) is inclusive of (i) amenity and storage space totaling 20,072 square feet for which no rent is associated or underwritten, (ii) a management office totaling 1,299 square feet for which no rent is associated or underwritten and (iii) six leases totaling 46,395 square feet with rent commencement dates after the Cut-off Date. There can be no assurance that the tenants with leases with rent commencement dates after the Cut-off Date will: (x) take occupancy of their respective leased spaces at the mortgaged property (or in the case of Woolston Consulting, take occupancy of its expansion space at the mortgaged property); or (y) begin paying rent on their respective leased spaces, in each case as expected or at all.

With respect to Loan No. 12, Keyport Industrial Portfolio, the Third Largest Tenant at the 3 Cass Street mortgaged property, Secret Box Distribution Corp, representing approximately 20.6% of the net rentable square footage, is not yet in occupancy of its leased premises. The Third Largest Tenant at the 120 Francis Street mortgaged property, Ariston Chimney LLC, representing approximately 9.8% of the net rentable square footage, is in a rent abatement period and is required to begin paying rent in November 2023, at which time such tenant will begin paying 50% of base rent through the end of January 2024. The Fifth Largest Tenant at the 120 Francis Street mortgaged property, Fort Lauderdale Millwork Inc dba FTLA Millwork, representing approximately 8.6% of the net rentable square footage, is in a rent abatement period and is required to begin paying rent in January 2024.

With respect to Loan No. 15, 11 West 42nd Street, the Third Largest Tenant, New York University, has approximately $1.65 million in outstanding borrower obligations related to leasing expenses and two months of free rent totaling approximately $1,125,423 ($557,140 in December 2023 and $568,283 in December 2024). All outstanding borrower obligations and free rent was reserved at origination.

A-23

With respect to Loan No. 23, Harborside 2-3, the Third Largest Tenant, Collectors Universe, representing approximately 8.2% of the net rentable area, is in a free rent period through November 28, 2023.

(5 – Appraised Value ($), Cut-off Date LTV Ratio (%), LTV Ratio at Maturity (%))

With respect to all mortgage loans, with the exceptions of the mortgage loans listed identified in “Description of the Mortgage Pool—Certain Calculations and Definitions” in the prospectus, the Cut-off Date LTV Ratio (%) and the LTV Ratio at Maturity (%) are based on the Appraised Value ($) even though, for certain mortgage loans, the appraisal provided “as-stabilized” values based on certain criteria being met.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the Appraised Value of $143,450,000 represents the prospective market value upon stabilization of both the Gilbert Gateway Towne Center and the Scottsdale Towne Center mortgaged properties based on the assumptions that, with respect to the Gilbert Gateway Towne Center mortgaged property, the tenant improvements for Einstein Bros Bagels and The Great Greek Mediterranean are completed by December 2023 and rent payments begin January 1, 2024 pursuant to such tenants’ respective leases and, with respect to the Scottsdale Town Center mortgaged property, all leasing and tenant improvement costs are paid for Mountainside Fitness. Based on the "as-is" value of $133,590,000, the Cut-off Date LTV and Maturity Date LTV are 60.6%.

With respect to Loan No. 11, Dels Multifamily Portfolio, the Appraised Value represents the “As Portfolio” appraised value of $38,300,000, which is inclusive of a 3.0% portfolio premium and reflects the “as-is” value of the properties as a whole if sold in their entirety to a single buyer. The “As Is” appraised value of the portfolio is $37,220,000.

With respect to Loan No. 14, Merit Hill Self Storage, the Appraised Value ($) represents the portfolio appraised value, which is inclusive of an approximately 4.8% portfolio premium and reflects the “as-is” value of the mortgaged properties as a whole if sold in their entirety to a single buyer.

With respect to Loan No. 18, Short Pump Town Center, the Appraised Value of $378,000,000 represents the “Hypothetical As Is” value of the mortgaged property excluding the value attributed to certain parcels which may be released by the borrower upon satisfaction of the terms and conditions in the related loan agreement. The actual As-Is value of the mortgaged property including the value attributed to such parcels is $392,000,000.

(6 – Original Balance ($), Cut-off Date Balance ($), Maturity Balance ($))

For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Cut-off Date Balance ($) and Maturity Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation.

●

Loan No. 5, 369 Lexington Avenue & 2 West 46th Street

●

Loan No. 8, Scottsdale Gilbert Retail Portfolio

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Loan No. 11, Dels Multifamily Portfolio

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Loan No. 12, Keyport Industrial Portfolio

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Loan No. 16, New Mountain – Alliance

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Loan No. 21, The Schlaff Mixed Use Portfolio

(7 – Original Balance ($), Cut-off Date Balance ($), Maturity Balance ($))

The Original Balance ($), Cut-off Date Balance ($), and Maturity Balance ($) represent only the mortgage loan included in the issuing entity. The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Cut-off Date LTV Ratio (%), LTV Ratio at Maturity (%), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan per Unit ($) are calculated based on the mortgage loan included in the issuing entity and the related pari passu companion loans in the aggregate but exclude any subordinate companion loan(s). For more information regarding the mortgage loans secured by the mortgaged properties identified under the column heading in this Annex A-1, see the charts titled “Whole Loan Summary” and “Whole Loan Controlling Notes and Non-Controlling Notes” in “Description of the Mortgage Pool—The Whole Loans” in the prospectus.

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Loan No. 1, Piazza Alta

Loan No. 2, Westfarms

Loan No. 4, Arcola Corporate Campus

Loan No. 5, 369 Lexington Avenue & 2 West 46th Street

Loan No. 6, Lake Merritt Plaza

Loan No. 7, Hilton Garden Inn Atlanta Downtown

Loan No. 8, Scottsdale Gilbert Retail Portfolio

Loan No. 9, River Centre

Loan No. 14, Merit Hill Self Storage

Loan No. 15, 11 West 42nd Street

Loan No. 17, California High Tech Logistics

Loan No. 18, Short Pump Town Center

Loan No. 20, Overlook at Ballantyne

Loan No. 23, Harborside 2-3

(8 – Administrative Fee Rate (%))

The Administrative Fee Rate % includes the Servicing Fee, the Operating Advisor Fee, the Certificate Administrator/Trustee Fee, the Asset Representations Reviewer Fee and the CREFC® Intellectual Property Royalty License Fee applicable to each mortgage loan.

(9 – Monthly Debt Service Amount)

For the mortgage loans with an interest-only period that accrues interest on an Actual/360 basis, the Monthly Debt Service (IO) ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360.

(10 – Grace Period - Late Fee (Days))

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, a Grace Period – (Default) is zero days for the outstanding principal balance due at maturity and five days for the monthly payment of interest.

With respect to Loan No. 20, Overlook at Ballantyne, a Grace Period (Late Payment) of 5 days is permitted once during any 12-month period.

With respect to Loan No. 22, 2219 N Hamilton Ave, the mortgage loan documents provide the borrower with one, five-day grace period every 12 months during the term of the mortgage loan for any payments due on a payment date (other than the payment due on the maturity date).

With respect to Loan No. 35, 84 Hoyt Street, a Grace Period – Late Fee (Days) of five days is allowed.

(11 – ARD Loan)

(12 – Prepayment Provisions)

The “L” component of the prepayment provision represents lockout payments.

The “D” component of the prepayment provision represents defeasance payments.

The “YM” component of the prepayment provision represents yield maintenance payments.

The “O” Component of the prepayment provision represents the free payments including the Maturity Date.

Certain mortgage loans permit the release of a portion of a mortgaged property (or an individual mortgaged property, in connection with a portfolio mortgage loan) under various circumstances, as described in the prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in the prospectus.

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With respect to loan No. 1, Piazza Alta, the lockout period will be at least 25 payment dates beginning with and including the first payment date in November, 2023. Defeasance of the Piazza Alta whole loan in full is permitted at any time after the earlier to occur of (i) September 21, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 months is based on the anticipated closing date of this transaction in November, 2023. The actual lockout period may be longer.

With respect to Loan No. 2, Westfarms, provided no event of default exists, the borrower may (i) make transfers of immaterial or non-income producing portions of the mortgaged property to any federal, state or local government or any political subdivision thereof in connection with takings or condemnations of any portion of the mortgaged property (including, without limitation, portions of the mortgaged property’s “ring road”) for dedication or public use, (ii) make transfers of non-income producing or vacant portions of the mortgaged property (by sale, ground lease, sublease or other conveyance of any interest) to third parties or affiliates of the borrower, including without limitation, owners of outparcels and department store pads, pads for office buildings, hotels or other properties, or (iii) dedicate portions of the mortgaged property or grant easements, restrictions, covenants, reservations and rights of way in the ordinary course of business for traffic circulation, ingress, egress, parking, access, utilities lines or for other similar purposes upon satisfaction of certain conditions found in the related loan agreement.

With respect to Loan No. 4, Arcola Corporate Campus, defeasance of the Arcola Corporate Campus whole loan is permitted at any time after the earlier to occur of (i) the end of the two-year period commencing on the closing date of the securitization of the last promissory note representing a portion of the Arcola Corporate Campus whole loan to be securitized and (ii) August 15, 2026. The assumed defeasance lockout period of 26 payments is based on the anticipated closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the lockout period will be at least 25 payment dates beginning with and including the first payment date on November 1, 2023. Defeasance of the 369 Lexington Avenue & 2 West 46th Street whole loan in full (but not in part) is permitted at any time following the earlier to occur of (i) September 28, 2027 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected BMO 2023-5C2 securitization closing date in November 2023. The actual lockout period may be longer.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, provided that no event of default has occurred is continuing, the borrowers have the right, (I) at any time after April 1, 2028 (such period, the “Open Prepayment Period”), to partially prepay the 369 Lexington Avenue & 2 West 46th Street whole loan and obtain the release of any single one of the 369 Lexington Avenue & 2 West 46th Street Properties, and (II) at any time after (x) the earlier of (a) September 28, 2027, and (b) the end of the two-year period commencing on the closing date of the securitization of the last promissory note representing a portion of the 369 Lexington Avenue & 2 West 46th Street whole loan to be securitized, but prior to (y) the Open Prepayment Period, deliver defeasance collateral and obtain release of any single 369 Lexington Avenue & 2 West 46th Street Property, in each case, provided that, among other conditions, (i) the defeasance collateral or partial prepayment, as applicable, is in an amount equal to the greater of (a) 125% of the allocated loan amount with respect to such individual 369 Lexington Avenue & 2 West 46th Street Property, and (b) the applicable net sales proceeds, (ii) the borrower delivers a REMIC opinion, (iii) the borrower delivers (in the case of a partial prepayment, if requested by the lender) a rating agency confirmation, (iv) as of the date of notice of the partial release and the consummation of the partial release (whether by partial prepayment or partial defeasance), after giving effect to the release, the debt service coverage ratio with respect to the remaining 369 Lexington Avenue & 2 West 46th Street Property is equal to or greater than the greater of (a) the debt service coverage ratio for all of the 369 Lexington Avenue & 2 West 46th Street Properties immediately prior to the date of notice of the partial release or the consummation of the partial release, as applicable, and (b) 1.30x, (v) as of the date of notice of the partial release and the consummation of the partial release (whether by partial prepayment or partial defeasance), after giving effect to the release, the debt yield with respect to the remaining 369 Lexington Avenue & 2 West 46th Street Property is equal to or greater than the greater of (a) 10.40% and (b) the debt yield for all of the 369 Lexington Avenue & 2

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West 46th Street Properties immediately prior to the date of notice of the partial release or the consummation of the partial release, as applicable, and (vii) as of the date of notice of the partial release and the consummation of the partial release (whether by partial prepayment or partial defeasance), after giving effect to the release, the loan-to-value ratio with respect to the remaining 369 Lexington Avenue & 2 West 46th Street Property is no greater than the lesser of (a) 60.0% and (b) the loan-to-value ratio for all of the 369 Lexington Avenue & 2 West 46th Street Properties immediately prior to the date of notice of the partial release or the consummation of the partial release, as applicable.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the borrower has the option to prepay the Hilton Garden Inn Atlanta Downtown whole loan in whole but not in part (i) on or after the payment date occurring in August 2028 without the payment of any prepayment premium or (ii) beginning on the payment date in December 2025 with the payment of a yield maintenance premium. The assumed lockout period of 24 payments is based on the anticipated closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the lockout period will be at least 25 payment dates beginning with and including the first payment date on November 6, 2023. Defeasance of the Scottsdale Gilbert Retail Portfolio whole loan in full (but not in part) is permitted at any time following the earlier to occur of (i) October 4, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected BMO 2023-5C2 securitization closing date in November 2023. The actual lockout period may be longer.

With respect to Loan No. 9, River Centre, defeasance of the River Centre whole loan is permitted at any time after the end of the two-year period commencing on the closing date of the securitization of the last promissory note representing a portion of the River Centre whole loan to be securitized. The assumed defeasance lockout period of 25 payments is based on the anticipated closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

With respect to Loan No. 14, Merit Hill Self Storage, defeasance of the Merit Hill Self Storage whole loan is permitted at any time after the earlier to occur of (a) the end of the two-year period commencing on the closing date of the securitization of the last portion of the Merit Hill Self Storage whole loan to be securitized and (b) September 22, 2026. The assumed defeasance lockout period of 23 payments is based on the closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

With respect to Loan No. 14, Merit Hill Self Storage, from and after October 5, 2025, provided that no event of default has occurred and is continuing and all amounts then due and owing to the lenders have been paid in full, a borrower may obtain the release of an individual property (and the related collateral), from the lien of the applicable security instruments, or at the borrower’s option, an assignment thereof to one or more designees of the applicable borrower thereon, and the related loan documents with respect thereto, and the release of each loan party’s obligations under the loan documents with respect to such individual mortgaged property and the related collateral (other than those expressly stated in the loan documents to survive), upon the satisfaction of certain conditions in the related loan agreement and as described in the prospectus.

With respect to Loan No. 15, 11 West 42nd Street, the borrower is permitted to prepay the 11 West 42nd Street whole loan in whole but not in part (i) on or after the payment date occurring in January 2028 without the payment of any prepayment premium or (ii) beginning on the payment date in July 2025 with the payment of a yield maintenance premium. Defeasance of the 11 West 42nd Street whole loan in whole but not in part is permitted after the date that is earlier of (i) two years from the closing date of the securitization that includes the last note of the 11 West 42nd Street whole loan to be securitized and (ii) August 6, 2026. The assumed defeasance lockout period of 25 payments is based on the anticipated closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

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With respect to Loan No. 17, California High Tech Logistics, the lockout period will be 12 payments beginning with and including the first payment date of May 1, 2023. The borrower is permitted to prepay the California High Tech Logistics whole loan (with the payment of the applicable yield maintenance premium) in whole but not in part. Additionally, prepayment of the California High Tech Logistics whole loan is not permitted unless the mezzanine borrower simultaneously makes a pro-rata prepayment of the mezzanine loan; provided, however that during the continuance of an event of default, the lender may accept a prepayment of the California High Tech Logistics whole loan without a simultaneous pro-rata prepayment of the mezzanine loan.

With respect to Loan No. 18, Short Pump Town Center, defeasance of the Short Pump Town Center whole loan is permitted at any time after the earlier to occur of (a) the end of the two-year period commencing on the closing date of the securitization of the last portion of the Short Pump Town Center whole loan to be securitized and (b) July 6, 2026. The assumed defeasance lockout period of 27 payments is based on the closing date of the BMO 2023-5C2 securitization trust in November 2023. The actual lockout period may be longer.

With respect to Loan No. 18, Short Pump Town Center, the property size, UW NOI and Most Recent Occupancy exclude the Release Parcels, which includes (i) one or more parcels or outlots, (ii) the Dick's Sporting Goods Parcel and (iii) one or more Acquired Parcels or Acquired Expansion Parcels. An “Acquired Parcel” is a fee simple or leasehold interest to a parcel of the Short Pump Town Center Property that is acquired in a substitution in accordance with the loan documents. An “Acquired Expansion Parcel” means any parcel of land, together with any improvements thereon located, (a) constituting an integral part of, or adjoining to, or proximately located near, the shopping center of which the Short Pump Town Center Property is a part, (b) that is not owned by the borrower on the origination date and (c) is not an Acquired Parcel and is acquired by the borrower after the origination date.

With respect to Loan No. 20, Overlook at Ballantyne, the defeasance lockout period will be at least 25 months beginning with and including the first payment date on November 6, 2023. Defeasance of the Overlook at Ballantyne whole loan, in whole, but not in part, is permitted at any time after the earlier of (i) the third anniversary of the first monthly payment date and (ii) two years from the “startup day” of the REMIC which holds the portion of the Overlook at Ballantyne whole loan last contributed to a securitization. In addition, on any business day on and after October 5, 2025, voluntary prepayment of the Overlook at Ballantyne whole loan is permitted, together with, if such voluntary prepayment occurs prior to January 5, 2028, a prepayment fee equal to the greater of (x) 1.00% of the principal amount of the Overlook at Ballantyne whole loan being prepaid and (y) a yield maintenance premium. The assumed defeasance lockout period of 25 months is based on the expected BMO 2023-5C2 securitization cut-off date in November 2023. The actual lockout period may be longer.

With respect to Loan No. 23, Harborside 2-3, the lockout period will be at least 31 payment dates beginning with and including the first payment date on May 6, 2023. Defeasance of the Harborside 2-3 whole loan in full (but not in part) is permitted at any time following the earlier to occur of (i) April 4, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 31 payments is based on the expected BMO 2023-5C2 securitization closing date in November 2023. The actual lockout period may be longer.

(13 – Future Additional Debt Permitted (Y/N), Additional Debt Exist (Y/N), Future Debt Permitted Type)

Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Indebtedness—Existing Mezzanine Debt,” “—Preferred Equity and Preferred Return Arrangements” and “Certain Legal Aspects of the Mortgage Loans” in the prospectus for information related to mortgage loans with subordinate, mezzanine or other additional debt or preferred equity that permit subordinate, mezzanine or other additional debt in the future.

With respect to Loan No. 1, Piazza Alta, concurrently with the origination of the Piazza Alta mortgage loan, a $126.1 million mezzanine loan was originated, secured by, among other things, the pledge of the direct equity interest in the Piazza Alta borrower. The mezzanine loan accrues interest at a rate of 10.50000%

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per annum and requires interest-only payments through the full term of the mezzanine loan. With respect to the mezzanine loan, on each payment date, the mezzanine borrower is required to pay an amount equal to the monthly debt service amount of $905,614, based on the current pay rate of 8.50000% per annum. In addition, (1) if any additional amount derived from the mortgaged property is then available pursuant to the Piazza Alta whole loan documents, then such amount will be applied to the monthly debt service (accrual component) (2.0000% per annum), and then (2) if any additional amount derived from the mortgaged property is then available pursuant to the Piazza Alta whole loan documents, then such amount will be applied to the aggregate accrual component (any monthly debt service (accrual component) that has not been paid due to insufficient cash flow and added to the mezzanine loan) then outstanding. The $126.1 million mezzanine loan is not included in the BMO 2023-5C2 securitization trust.

With respect to Loan No. 3, Shadow Lake Towne Center, future mezzanine debt is permitted, subject to the satisfaction of certain conditions including, among others, (i) immediately after giving effect to such debt (x) the combined loan-to-value ratio does not exceed 57.9% and (y) the combined debt service coverage ratio is equal to or greater than 1.27x, (ii) execution of an intercreditor agreement reasonably acceptable to the lender, and (iii) receipt of a rating agency confirmation from each applicable rating agency.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, within 20 days following the origination of the Scottsdale Gilbert Retail Portfolio whole loan, the borrowers have the right to obtain a mezzanine loan in the amount of $7,000,000. The mezzanine loan is anticipated to accrue interest at a rate of 13.00000% per annum and to be coterminous with the Scottsdale Gilbert Retail Portfolio whole loan. The foregoing data is listed in the columns entitled “Mezzanine Debt Cut-off Date Balance($)” and “Mezzanine Debt Interest Rate (%)”, but as of the date hereof such mezzanine loan has not been originated.

With respect to Loan No. 15, 11 West 42nd Street, concurrently with the funding of the 11 West 42nd Street whole loan, Bank of America, N.A. originated a mezzanine loan in the amount of $56,000,000 secured by the mezzanine borrower’s equity interests in the 11 West 42nd Street whole loan borrower (the “Mezzanine Loan”). The Mezzanine Loan is coterminous with the 11 West 42nd Street whole loan. The Mezzanine Loan accrues interest at a rate of 14.00000% per annum and requires interest-only payments until its maturity date. An intercreditor agreement was executed at loan origination between the lender and the lender of the Mezzanine Loan. Subsequent to loan origination, the Mezzanine Loan was sold by Bank of America, N.A. to an affiliate of Taconic Capital.

With respect to Loan No. 15, 11 West 42nd Street, the borrower is permitted to enter into a “Property-Assessed Clean Energy loan” or any similar indebtedness (a “PACE Loan”) for an amount not to exceed $10,000,000, subject to the lender’s approval (not to be unreasonably withheld, conditioned or delayed) and delivery of a rating agency confirmation, which PACE Loan is (i) incurred for improvements to the mortgaged property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the mortgaged property. The lien resulting from any unpaid and delinquent PACE Loan payments would have property tax lien status.

With respect to Loan No. 17, California High Tech Logistics, concurrently with the origination of the California High Tech Logistics whole loan, a $10.0 million mezzanine loan was originated, secured by, among other things, the pledge of the direct equity interest in the California High Tech Logistics borrower. The California High Tech Logistics mezzanine loan accrues interest at a rate of 10.25% per annum and requires interest-only payments through the full term of the mezzanine loan. The $10.0 million mezzanine loan is not included in the BMO 2023-5C2 securitization trust.

With respect to Loan No. 23, Harborside 2-3, the Harborside 2-3 whole loan is structured with a $55,000,000 mezzanine loan (the "Harborside 2-3 Mezzanine Loan") that accrues interest at (i) a rate per annum equal to 7.00% to be paid as part of each payment of the mezzanine monthly debt service payment amount resulting in a mezzanine monthly debt service payment amount of $325,289.35 and (ii) a rate per annum equal to 3.5% that accrues through the term of the Harborside 2-3 Mezzanine Loan and is scheduled to be due and payable on the maturity date resulting in a monthly debt service accrual amount of $162,644.68. The Mezzanine Debt Interest Rate (%), Total Debt Monthly Debt Service ($), Total Debt Underwritten NOI

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DSCR (x) and Total Debt Underwritten NCF DSCR (x) are based on an aggregate Harborside 2-3 Mezzanine Loan interest rate of 10.5% per annum.

With respect to Loan No. 23, Harborside 2-3, in addition to the interest accruing on the outstanding principal balance of the Harborside 2-3 Mezzanine Loan at a rate of 7.0000% per annum to be paid as part of each monthly debt service payment amount and an additional 3.5000% per annum which will accrue through the maturity date and be due on the maturity date, the outstanding principal balance of the Harborside 2-3 Mezzanine Loan will accrue PIK interest at a rate of 2.29% per annum (the “PIK Interest”). If either (i) the PIK Leasing Condition (as defined below) has not been satisfied as of April 6, 2028 or (ii) if the Harborside 2-3 Mezzanine Loan is not prepaid in full prior to April 6, 2028, then all accrued PIK Interest will automatically be converted and added to the outstanding principal balance of the Harborside 2-3 Mezzanine Loan, and become immediately due and payable by the borrowers to lender together with all other outstanding principal. The “PIK Leasing Condition” means delivery by the borrowers of evidence reasonably satisfactory to the lender that 75% of the aggregate rentable square feet of the Harborside 2-3 mortgaged property and the neighboring Harborside 1 property is leased and occupied by tenants under leases satisfying the requirements set forth in their respective loan documents.

With respect to Loan No. 23, Harborside 2-3, the borrowers are permitted to obtain mezzanine financing in connection with the assumption of the Harborside 2-3 mortgage loan, provided that the Harborside 2-3 Mezzanine Loan is repaid simultaneously with such assumption. Future mezzanine debt is permitted subject to certain conditions, including, without limitation: (i) no event of default is continuing, (ii) the mezzanine loan is made by a lender reasonably acceptable to the mortgage lender and acceptable to the applicable rating agencies, (iii) the only collateral for such mezzanine loan is the direct equity interest in (x) the mortgage borrower and (y) the equity interest in the sole member entity holding the liquor license for the operation of the property (note – the mortgage loan is secured, in part, by a pledge of the direct equity interest in the holder of the liquor license), (iv) the mezzanine loan documents are reasonably satisfactory to the mortgage lender, (v) the mezzanine loan is non-recourse except for non-recourse carveouts substantially similar to those of the mortgage loan, (vi) the mezzanine lender enters into an intercreditor agreement reasonably acceptable to the mortgage lender and acceptable to the rating agencies, (vii) the mezzanine loan has a fixed rate of interest or a floating rate subject to delivery of an interest rate cap agreement, (viii) the maturity date of the mezzanine loan is not earlier than the maturity date of the Harborside 2-3 whole loan, (ix) borrower delivers a rating agency confirmation, (x) the LTV (inclusive of the mezzanine loan) will not exceed 75.0%, (xi) the DSCR (whole loan only) as of the date of closing of the mezzanine loan is at least 1.81x and (xii) the DSCR (inclusive of the mezzanine loan) as of the date of closing of the mezzanine loan is at least 1.25x.

With respect to Loan No. 23, Harborside 2-3, the Harborside 2-3 whole loan is structured with a $19,000,000 preferred equity investment made by NongHyup Bank, in its capacity as Trustee of Milestone Harbor East Private Investment Trust. The preferred equity investment is made in an entity (the “Pref JV”) that is the indirect owner of one of the two tenant in common borrowers of the Harborside 2-3 whole loan and one of the two tenant in common owners of the neighboring Harborside 1 property. The preferred equity investment will be repaid only from net cash distributions to the Pref JV from capital transactions with respect to the Harborside 1 property and/or the Harborside 2-3 mortgaged property.

With respect to Loan No. 35, 84 Hoyt Street, future mezzanine debt is permitted, subject to the satisfaction of certain conditions including, among others, (i) immediately after giving effect to such debt (x) the combined loan-to-value ratio does not exceed 75.0% and (y) the combined debt service coverage ratio is equal to or greater than 1.11x, (ii) execution of a subordination and intercreditor agreement reasonably acceptable to the lender, and (iii) receipt of a rating agency confirmation from each applicable rating agency.

(14 – Underwritten NOI DSCR (x), Underwritten NCF DSCR(x))

The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), whole loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) for all partial interest-only mortgage loans were calculated based on the first 12 principal and interest payments after the origination date during the term of the mortgage loan.

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(15 – Underwritten Capital Items)

In certain cases, Underwritten TI / LC ($) is inclusive of certain credits for upfront reserves taken at closing.

With respect to Loan No. 9, River Centre, due to the upfront tenant improvement and leasing commissions reserve of $7,000,000, no Underwritten TI / LC ($) was included. The $7,000,000 initial deposit was placed into a reserve and disbursements can be made for tenant improvements and leasing commissions.

(16 – Historical Financials)

With respect to some mortgage loans, historical financial information may not be available as a result of acquisition financing and/or recent construction.

With respect to Loan No. 1, Piazza Alta, historical financials are not available as the mortgaged property was built in several stages from 2022 to 2023.

With respect to Loan No. 4, Arcola Corporate Campus, historical financial information is not available because the Arcola Corporate Campus Property was acquired by the borrower in August 2023 in a sale-leaseback transaction.

With respect to Loan No. 9, River Centre, the third most recent period includes partial-year information as the mortgaged property was acquired in June 2021. The mortgaged property was renovated in 2021.

With respect to Loan No. 11, Dels Multifamily Portfolio, historical financials prior to 2022 are not available for the entire portfolio as the related mortgaged properties were individually being acquired by the sponsor between 2021 and 2022.

With respect to Loan No. 13, New Mountain – Cathay Industries, historical financial information is not available because the Mortgaged Property was acquired by the borrower in October 2022 in a sale-leaseback transaction.

With respect to Loan No. 16, New Mountain – Alliance, historical financial information is not available because the Mortgaged Property was acquired by the borrower in July 2023 in a sale-leaseback transaction.

With respect to Loan No. 17, California High Tech Logistics, historical financials are not available as the related mortgaged property was acquired by the related borrower within 12 calendar months prior to the cut-off date and the seller did not provide historical financials.

With respect to Loan No. 20, Overlook at Ballantyne, the historical cash flows are not available, as the property was built in 2020 and was still leasing up throughout 2022.

With respect to Loan No. 21, The Schlaff Mixed Use Portfolio, historical financials are unavailable as the borrower sponsor acquired the 2011 8th Street and 183 Monroe Street mortgaged properties in 2022.

With respect to Loan No. 24, 4041 Linq Lane, historical financials are not available for any tenant as the Sponsor acquired the property in April 2023.

With respect to Loan No. 26, The Lisbon, historical financial information prior to the trailing 12 months is not available as the mortgaged property was acquired by the sponsor in March 2022. The mortgaged property was previously run as a flagged hotel prior to the sponsor repositioning the property into a multifamily use.

With respect to Loan No. 29, 2046 Mapes Avenue, historical financial information is not available due to the recent redevelopment of the mortgaged property.

With respect to Loan No. 31, 2523-2525 Olinville Avenue, historical financial information is not available due to the recent redevelopment of the mortgaged property.

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With respect to Loan No. 32, Hampton Inn Douglas, due to a change in ownership, historical financial information for 2021 represents operations from nine months (January through April and August through December). The financial information is not annualized.

With respect to Loan No. 35, 84 Hoyt Street, historical cash flows are unavailable as the borrower sponsor recently completed renovations and lease-up at the mortgaged property.

(17 – Title Type)

(18 – Upfront Escrows)

Represents the amount deposited by the borrower at origination. All or a portion of this amount may have been released pursuant to the terms of the related mortgage loan documents.

With respect to Loan No. 2, Westfarms, the Upfront Other Reserve ($) consists of $3,103,791 for the Outstanding TI/LC Reserve and $298,225.34 for the Gap Rent/Free Rent Reserve Deposit.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the Upfront Other Reserve ($) consists of $5,500,000 for the PIP Reserve, $597,060 for the Unfunded Obligations Reserve and $60,000 for the Seasonality Reserve.

With respect to Loan No. 18, Short Pump Town Center, the Upfront Other Reserve ($) consists of $241,234 for the Gap Rent Reserve Deposit.

With respect to Loan No. 24, 4041 Linq Lane, the Upfront Other Reserve ($) consists of $264,000 for the Roof Replacement Reserve. The upfront deposit represents 110% of the estimated cost to replace the roof at the mortgaged property, including roof replacement down to the roof deck, replacement of roof coating and as-needed replacement of plywood roof decking.

(19 – Monthly Escrows)

Represents the monthly amounts required to be deposited by the borrower. The monthly collected amounts may be increased or decreased pursuant to the terms of the related mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being triggered in the respective mortgage loan documents.

With respect to Loan. No. 1, Piazza Alta, on a monthly basis, the borrower is required to escrow 1/12th of the taxes that the lender estimates will be payable during the next 12 months in order to accumulate sufficient funds to pay all such taxes (including, until the occurrence of a Tax Parcel Event (as defined below), taxes attributable to the non-collateral Unit 2 as described under “Description of the Mortgage Pool—Statistical Characteristics of the Mortgage Loans—Condominium Interests and Other Shared Interests” in the Preliminary Prospectus, which is part of a shared tax lot with the mortgaged property) at least 30 days prior to their respective due dates. Currently, the borrower is required to pay $19,042 for taxes attributed to the mortgaged property, representing Unit 1 of the condominium regime. As of the date of origination, the borrower has represented to the lender that it has taken the necessary steps (including filing the paperwork and the payment of all fees) with the appropriate governmental authorities for the Tax Parcel Event to occur no later than 30 days from origination. The borrower is required to (i) periodically update the lender with respect to any progress made towards achieving the Tax Parcel Event, (ii) promptly provide the lender with any correspondence relating to the Tax Parcel Event and (iii) immediately notify the lender upon the occurrence of the Tax Parcel Event and deliver to the lender evidence in form and substance satisfactory to the lender of the occurrence of the Tax Parcel Event. A “Tax Parcel Event” will occur upon (i) Unit 2 being a separate tax lot and not a part of any tax lot of the mortgaged property and not included in the tax bills for the mortgaged property and (ii) the mortgaged property being comprised of one or more parcels with separate tax lots and not being comprised of a portion of any other tax lot that is not a part of the mortgaged property.

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With respect to Loan No. 1, Piazza Alta, on a monthly basis, the borrower is required to escrow 1/12th of the insurance premiums that the lender estimates will be payable for the renewal of coverage afforded by the polices upon the expiration in order to accumulate with the lender sufficient funds to pay all such insurance premiums at least 30 days prior to the expiration. The borrower will not be required to make monthly insurance deposits so long as (i) no event of default has occurred and is continuing, (ii) the borrower provides the lender evidence of renewal of the policies, (iii) the borrower provides the lender with paid receipts evidencing payment of the insurance premiums by no later than 10 business days prior to the expiration dates of the policies, and (iv) there is on deposit in the tax and insurance subaccount with respect to insurance premiums an amount equal to no less than the Static Insurance Reserve Amount (as defined below) (the foregoing clauses (i) through (iv) are collectively referred to as the “Insurance Premium Waiver Conditions”). In the event the Insurance Premium Waiver Conditions are no longer satisfied, the borrower will commence making all monthly insurance deposits as required pursuant to the Piazza Alta whole loan documents. Additionally, so long as the mortgaged property is insured under a blanket insurance policy the borrower will not be required to make monthly insurance deposits into the tax and insurance subaccount. As of the date of origination, the mortgaged property is insured under a blanket insurance policy. Notwithstanding the above, in the event that such blanket insurance policy is no longer in effect, the borrower will be required to escrow $144,517 (the “Static Insurance Reserve Amount”). In accordance with the Piazza Alta whole loan documents, the lender may from time to time, upon written notice to the borrower, increase the Static Insurance Reserve Amount required to reflect any increases in the insurance premiums for the coverages afforded by the policies on a stand-alone basis, such that the Static Insurance Reserve Amount is not less than three months of the insurance premiums that the lender reasonably estimates will be payable for the renewal of coverage afforded by the policies on a stand-alone basis.

With respect to Loan No. 1, Piazza Alta, commencing on the payment date occurring in November 2025 and continuing for each payment thereafter, the borrower is required to escrow $2,926 for tenant improvements and leasing costs. Additionally, the borrower is required to pay any lease termination payments received from non-residential tenants to the lender for transfer into the tenant improvement and leasing subaccount.

With respect to Loan No. 1, Piazza Alta, on each monthly payment date, the borrower is required to deposit an amount equal to the monthly amount (currently estimated at $3,250 per month) as set forth in the approved operating budget for common charges payable on such payment date (plus any other amounts that may be due for common charges which are not included in the approved operating budget) in order to accumulate with the lender sufficient funds to pay all common charges during the next three months prior to their respective due dates.

With respect to Loan No. 6, Lake Merritt Plaza, on each payment date on which no trigger period is continuing, the borrower is required to deposit into the capital expenditure reserve account an amount equal to $10,230 until the amounts on deposit in the capital expenditure reserve account are equal to or greater than $368,250.

With respect to Loan No. 6, Lake Merritt Plaza, the borrower is required to deposit, on a monthly basis, (A) 1/12th of the taxes and (B) 1/12th of the insurance premiums that the lender reasonably estimates will be payable during the next ensuing 12 months. With respect to the insurance reserve deposits, the lender will waive the requirements for insurance deposits if (i) the borrower maintains insurance pursuant to a blanket policy and premiums have been paid at least 10 days prior to the date on which such payment would become delinquent and (ii) no event of default is continuing.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the borrower is required to deposit into a FF&E Reserve, on a monthly basis, (i) up to and including May 6, 2025, an amount equal to the greater of (A) 4.0% of the average gross revenues for the hotel related operations at the Park Pavilion Hotel Unit for the two calendar months immediately preceding such monthly payment date, as reasonably determined by

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the lender and (B) $100,000 and (ii) after May 6, 2025, an amount equal to 4% of the average gross revenues for the hotel related operations at the Park Pavilion Hotel Unit for the two calendar months immediately preceding such monthly payment date, as reasonably determined by the lender.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the borrower is required to deposit into an insurance reserve, on a monthly basis, 1/12th of the amount which would be sufficient to pay the insurance premiums due for the renewal of coverage afforded by such policies; provided, however, such insurance reserve has been conditionally waived so long as the borrower maintains a blanket policy meeting the requirements of the Hilton Garden Inn Atlanta Downtownwhole loan documents. At origination of the Hilton Garden Inn Atlanta Downtown whole loan, an acceptable blanket policy was in place.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the borrowers are required to deposit on each monthly payment date beginning in November 2024, an amount equal to $27,004.25 into the tenant improvements and leasing commissions reserve account; provided, however, that the borrowers will have no obligation to make such monthly payment if the reserve fund equals or exceeds $648,102. The upfront tenant improvements and leasing commissions reserve deposit of $1,250,000 paid at closing is excluded from the calculation.

With respect to Loan No. 9, River Centre, on each monthly payment date, the borrowers are required to deposit an amount equal to 1/12th of the insurance premiums that the lender reasonably estimates will be payable for the renewal of the coverages afforded by the policies upon the expiration thereof in order to accumulate sufficient funds to pay all such insurance premiums at least 30 days prior to the expiration of the policies. If all of the insurance coverages required are provided through an approved blanket policy, the borrowers are not required to make deposits on account of insurance premiums; provided that (i) such blanket policy is maintained in full force and effect, (ii) the insurance premiums for such blanket policy are not paid in installments or financed and (iii) not less than 15 days prior to the expiration date of such blanket policy, the borrowers provide the lender with (a)(1) a certificate of insurance evidencing the renewal of such blanket policy or (2) a certificate of insurance evidencing a new blanket policy approved by the lender and (b) evidence reasonably satisfactory of the payment in full of the insurance premiums then due thereunder.

With respect to Loan No. 9, River Centre, on each monthly payment date following the first instance when the balance of the rollover funds is equal to, or less than $2,000,000, the borrowers are required to deposit an amount equal to approximately $64,521 to pay for tenant allowances, tenant improvements and leasing commissions.

With respect to Loan No. 9, River Centre, on each monthly payment date during a material tenant trigger event period, the borrowers are required to deposit the monthly material tenant deposit for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrowers in connection with leasing material tenant space pursuant to qualified leases.

With respect to Loan No. 10, Lacey Market Square, the borrowers are required to deposit on each monthly payment date, beginning with the payment date occurring in May 2028, approximately $52,141 into a fixed deposit reserve; provided, however, if the Fred Meyer Renewal Condition has been satisfied, then no further deposits to the fixed deposit reserve account will be required. The “Fred Meyer Renewal Condition” means each of the following conditions: (a) the exercise by Fred Meyer of its option to extend the term of Fred Meyer’s lease to at least January 31, 2035 in accordance with such lease, (b) Fred Meyer (or its parent company) maintains an investment-grade rating, and (c) there is no default (beyond applicable notice and cure period) under Fred Meyer’s lease.

With respect to Loan No. 15, 11 West 42nd Street, the borrower is not required to make monthly tax deposit as long as (i) no cash sweep period exits and (ii) the borrower provides the lenders with paid receipts or other evidence reasonably satisfactory that all taxes have been and continue to be fully and timely paid.

With respect to Loan No. 15, 11 West 42nd Street, the borrower is not required to make monthly insurance deposit as long as (i) no cash sweep period exits and (ii) the insurance is maintained pursuant to one or

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more blanket policies, and the borrower timely provides the lender with evidence of the renewal of such policies.

With respect to Loan No. 15, 11 West 42nd Street, during a cash sweep period, the borrower is required to deposit monthly amounts of approximately $16,009 into a reserve for replacements for the mortgaged property, subject to a cap of approximately $288,170.

With respect to Loan No. 18, Short Pump Town Center, the borrower is required to deposit reserves with respect to taxes, insurance, replacement reserves, and tenant improvement and leasing commissions only during such time as the lenders determine that the debt yield is less than 12% as of the end of any two (2) consecutive calendar quarters. With respect to insurance reserves only, the lenders will waive the requirements for insurance deposits if the borrower maintains insurance pursuant to a blanket policy and premiums have been paid not less than one year in advance.

With respect to Loan No. 19, 601 Hawaii St, the monthly deposits into the insurance reserve account will be suspended such that an acceptable blanket policy, as per the loan documents, is in place. As of the loan origination date, an acceptable blanket policy is not in effect, therefore the borrower is required to deposit an amount equal to one-twelfth of the insurance premiums that the lender estimates will be payable for the renewal of the coverage (initially $5,514.19), in order to accumulate sufficient funds to pay all insurance premiums at least 30 days prior to the expiration of the policies.

With respect to Loan No. 22, 2219 N Hamilton Ave, the monthly tax and insurance reserve deposits represent two months of the taxes and insurance premiums. The monthly insurance reserve deposit will be waived to the extent the insurance is maintained under a blanket policy approved by the lender.

With respect to Loan No. 27, 8729 Aviation, monthly deposits of approximately $3,095 to pay for tenant allowances, tenant improvements and leasing commissions are waived for so long as the Volume Studios, LLC lease remains in full force and effect with no defaults continuing thereunder.

With respect to Loan No. 27, 8729 Aviation, on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit the monthly material tenant deposit for tenant allowances, tenant improvements and leasing commissions that may be incurred or required to be reimbursed by the borrower in connection with leasing material tenant space pursuant to qualified leases.

With respect to Loan No. 32, Hampton Inn Douglas, the borrower is required to make monthly deposits into the FF&E reserve account in an amount equal to 1/12th of 5% of the annual gross revenues of the mortgaged property, initially $9,104.

With respect to Loan No. 32, Hampton Inn Douglas, upon the earlier to occur of (i) the lender’s receipt of a franchise inspection report evidencing that the borrower has received a failing score in the first franchise inspection (each, a “Franchise Inspection”) to occur during the term of the mortgage loan or (ii) the date that is nine months following the closing of the mortgage loan if the lender has not received satisfactory evidence that the borrower has received a passing score in a Franchise Inspection by such date, then commencing on the next monthly payment date, the borrower is required to commence depositing into a Franchise Inspection Reserve an amount equal to $10,000 per month. Upon the lender’s receipt of satisfactory evidence that the borrower has received a passing score in a Franchise Inspection, and provided no default or sweep event period then exists under the mortgage loan, any funds on deposit in the Franchise Inspection Reserve are required to be released to the borrower.

(20 – Reserve Caps)

Represents a cap on the amount required to be deposited by the borrower pursuant to the related mortgage loan documents. In certain cases, during the term of the mortgage loan, the caps may be altered or terminated subject to conditions of the respective mortgage loan documents.

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With respect to Loan No. 3, Shadow Lake Towne Center, if the TI/LC reserve account does not exceed $1,500,000, the borrower is required to deposit $44,296 each month to the TI/LC reserve account, capped at $1,500,000. The TI/LC reserve account currently has $3,500,000.

With respect to Loan No. 6, Lake Merritt Plaza, the TI/LC Reserve Threshold is $5,000,000.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the reserves have various caps as follows: Replacement Reserve: $30,000, Rollover Reserve: $75,000, and Seasonality Reserve: $60,000.

With respect to Loan No. 17, California High Tech Logistics, the borrower is not required to make monthly deposits into the rollover reserve subaccount as long as (i) no event of default has occurred and is continuing, (ii) there are no defaults under the Riverside Brown Street lease and the Riverside Brown Street lease is in full force and effect, (iii) the Riverside Brown Street tenant remains obligated under the Riverside Brown Street lease to pay for and perform all repairs, tenant improvements and other work to the mortgaged property and (iv) with respect to High Tech Logistics, the net operating income for such entity plus (a) paid interest and tax expenses, (b) depreciation, (c) amortization, (d) other non-cash charges incurred during the applicable fiscal year, including, without limitation, non-cash impairment charges and (e) High Tech Logistics corporate restructuring charges (the “EBITDA”) remain above $2,220,000.

With respect to Loan No. 18, Short Pump Town Center, the reserves have various caps as follows: Replacement Reserve: $254,198 and Rollover Reserve Threshold: $2,541,976 (exclusive of the upfront rollover reserve deposit).

With respect to Loan No. 19, 601 Hawaii St, the borrower is not required to make any monthly deposits to the TI/LC reserve account if the reserve balance is equal to the product of 48 times the monthly TI/LC reserve deposit, currently estimated to be $304,506.

With respect to Loan No. 23, Harborside 2-3, the TI/LC Reserve Cap is equal to $15,000,000. On each monthly payment date that the amount in the tenant improvements and leasing commissions reserve account is less than $10,000,000, the borrowers are required to deposit into the tenant improvements and leasing commissions reserve account an amount equal to approximately $133,252.

With respect to Loan No. 24, 4041 Linq Lane, the CapEx Reserve Cap ($) is equal to $32,644.

(21 – Tenancy Information)

In certain cases, the data for tenants occupying multiple spaces includes square footage only from the primary spaces sharing the same expiration date and may not include smaller spaces with different expiration dates.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, Affinity Designs LLC, representing approximately 2.1% of total net rentable square footage at the 2 West 46th Street mortgaged property, has 2,718 square feet of office space that expires August 31, 2033 and 364 square feet of space that expires October 31, 2024.

With respect to Loan No. 9, River Centre, the Largest Tenant, Sycamore Medical, has 25,000 square feet expiring on May 31, 2034 and 16,925 square feet expiring on December 31, 2036.

With respect to Loan No. 9, River Centre, the Third Largest Tenant, Wells Fargo, has 25,762 square feet expiring on August 31, 2029 and 11,758 square feet expiring on November 30, 2027.

With respect to Loan No. 15, 11 West 42nd Street, the Largest Tenant, Michael Kors (USA), Inc, has 330 square feet of storage space that expires on November 30, 2023, 6,436 square feet of office space that expires on March 31, 2025, 236,974 square feet of office and storage space that expires on March 31, 2026 and 10,745 square feet of office space that expires on September 30, 2029.

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With respect to Loan No. 15, 11 West 42nd Street, the Fourth Largest Tenant, Kohn Pedersen Fox Associates, P.C., has 15,400 square feet of office space that expires on April 30, 2027 and 77,388 square feet of office space that expires on May 31, 2038.

With respect to Loan No. 20, Overlook at Ballantyne, the Third Largest Tenant, Compass North, representing 2.5% of the total net rentable square footage, subleases 7,935 square feet (representing 100%) of its space to Waste Connections of North Carolina as of June 8, 2023. The lease is to expire on June 7, 2025.

With respect to Loan No. 21, The Schlaff Mixed Use Portfolio, the Fourth Largest Tenant at the 2011 8th Street mortgaged property, Sales Support NJ Inc., representing approximately 15.0% of total net rentable square footage at the mortgaged property, occupies 5,000 square feet of space that expires August 31, 2028 and 3,050 square feet of space that expires February 29, 2028.

(22 – Tenancy Information)

With respect to the footnotes hereto, no footnotes have been provided with respect to tenants that are not among the five largest tenants by square footage for any mortgaged property.

(23 – Tenancy Information)

The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease with respect to all or a portion of its leased space 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 subject lease.

With respect to Loan No. 4, Arcola Corporate Campus, Dow Chemical subleases 20,642 square feet to Keller Williams for $17.00 per square foot. The Keller Williams sublease terminates on June 30, 2028.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the Fourth Largest Tenant at the 369 Lexington Avenue mortgaged property, Mingxue Yang Medical P.C, representing approximately 5.5% of total net rentable square footage at the mortgaged property, has the ongoing right to terminate its lease upon not less than 180 days’ written notice. In no event may the accelerated termination date be a date prior to July 1, 2026. If the tenant accelerates the expiration date to July 1, 2026, the tenant must pay a termination fee of $600,000. After July 1, 2026, the fee is reduced by $14,285.71 each month.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the Fifth Largest Tenant at the 2 West 46th Street mortgaged property, Pomann Sound Production Inc, representing approximately 3.8% of the net rentage square footage, has a unilateral option to terminate its lease at any time upon at least 30 days’ prior notice.

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the Fifth Largest Tenant at the 369 Lexington Avenue mortgaged property, the Government of Morocco, representing approximately 5.4% of total net rentable square footage at the mortgaged property, has the ongoing right to terminate its lease upon not less than 180 days’ written notice of its intention to accelerate the termination date. In no event shall the accelerated termination date be a date prior to September 1, 2025. If the tenant accelerates the expiration date to September 1, 2025, the tenant will forfeit its security deposit and pay a termination fee of $1,150,000. After September 1, 2025, the termination fee is reduced by $14,743.58 each month

With respect to Loan No. 6, Lake Merritt Plaza, the Fifth Largest Tenant, Big Fish Games, Inc., representing approximately 4.2% of total net rentable square footage, subleases approximately 20,755 square feet to East Bay Community Energy Authority. The East Bay Community Energy Authority sublease terminates on March 31, 2025.

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the Second Largest Tenant at the Gilbert Gateway Towne Center, Mega Furniture, representing approximately 10.8% of total net rentable square footage at the mortgaged property, has the one-time right to terminate its lease within 180 days after May

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2026 if the tenant did not equal or exceed $4,000,000 in gross sales between June 2025 and May 2026. A $100,000 fee is also due.

With respect to Loan No. 9, River Centre, the Third Largest Tenant, Wells Fargo, has the right to terminate its lease for two suites consisting of 25,762 square feet effective August 31, 2027, exercisable upon 12 months' written notice and payment of a fee equal to approximately $290,283. Additionally, Wells Fargo has the right to surrender either (x) 11,758 square feet or (y) 4,881 square feet effective as of August 31, 2025, exercisable upon 12 months' prior written notice to the landlord and payment of a fee equal to approximately $159,744 in the case of (x) or approximately $66,313 in the case of (y).

With respect to Loan No. 10, Lacey Market Square, the Fourth Largest Tenant, Rent-A-Center, representing approximately 1.4% of the net rentable square footage, may, if the major anchor tenant within the Mortgaged Property is Fred Meyer Stores, Inc., in the event such anchor tenant or a comparable replacement tenant vacates or ceases conducting business within the Mortgaged Property: (i) terminate such tenant’s lease at any time within 180 days after such occurrence; and (ii) beginning 180 days after such occurrence, receive an abatement of 50% of the minimum annual rent commencing the month after business has ceased and throughout the term of such tenant’s lease until such time as the anchor tenant re-opens for business or a comparable replacement tenant commences to conduct business within the vacated space.

With respect to Loan No. 12, Keyport Industrial Portfolio, the Largest Tenant at the 120 Francis Street mortgaged property, Method Associates, representing approximately 33.9% of total net rentable square footage at the mortgaged property, has a one-time right to terminate its lease with respect to 19,975 square feet of space effective October 31, 2025 provided tenant notifies landlord by April 31, 2025.

With respect to Loan No. 12, Keyport Industrial Portfolio, the Fifth Largest Tenant at the 120 Francis Street mortgaged property, Fort Lauderdale Millwork Inc dba FTLA Millwork, representing approximately 8.6% of total net rentable square footage at the mortgaged property, has the one time right to terminate its lease effective December 31, 2028 provided tenant notifies landlord by June 30, 2028.

With respect to Loan No. 15, 11 West 42nd Street, the Largest Tenant, Michael Kors (USA), Inc, (“Michael Kors”) subleases three spaces (totaling 28,107 square feet which is approximately 11.0% of Michael Kors’ NRA) to Aston Martin Lagonda of North America, Inc., ExpandEd Schools, Inc. and National Public Radio, Inc. Additionally, according to the borrower sponsors, Michael Kors is currently renovating its space at the tenant’s sole cost and is in discussions with the borrower sponsors for an early renewal of a portion of its lease. If this proposed lease amendment is executed, Michael Kors would renew 204,481 square feet of its expiring space (202,068 square feet of office and 2,413 square feet of storage), terminate the non-subleased portion of its lease on the 22nd floor (19,238 square feet), vacate 14,924 square feet on the third floor in March 2026, vacate 6,436 square feet on the 19th floor in March 2025 (at least 4,888 square feet of the 6,436 square feet will switch to a direct lease to National Public Radio, Inc), and vacate 9,406 square feet of subleased space on the 22nd floor in March 2026. We cannot assure you that this amendment will be signed as expected or at all.

With respect to Loan No. 15, 11 West 42nd Street, the Fifth Largest Tenant, Burberry (Wholesale) Limited, has the option to terminate its lease on December 31, 2033 by giving a 20 months’ prior written notice and paying a termination fee.

With respect to Loan No. 25, 325 West Side Avenue, the Sole Tenant, GS-02B-23777, representing 100.0% of total net rentable square footage at the mortgaged property, has the right to terminate its lease after March 26, 2026 with 90 days’ prior written notice.

(24 – Non-Recourse Carveout Guarantor)

With respect to No. 6, Lake Merritt Plaza, there is a no non-recourse carveout guarantor or environmental indemnitor separate from the borrower.

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With respect to Loan No. 15, 11 West 42nd Street, there is no non-recourse carveout guarantor or environmental indemnitor separate from the borrower.

With respect to Loan No. 18, Short Pump Town Center, so long as Forest City Realty Trust, LLC (or an affiliate) is the non-recourse carveout guarantor, the non-recourse carveout guarantor’s aggregate liability is limited to 20% of the mortgage loan amount, plus all of the reasonable out-of-pocket costs and expenses (including court costs and reasonable attorneys’ fees) incurred by the lenders in the enforcement of the related guaranty or the preservation of the lenders’ rights under such guaranty.

With respect to Loan No. 27, 8729 Aviation, the sole tenant, Volume Studios, LLC, and the subtenant, 1500 Sound Academy, LLC, are affiliates of the borrower sponsors. Volume Studios, LLC subleases a portion of its space (5,000 sq. ft.) to 1500 Sound Academy, LLC. The borrower sponsors guarantee the Volume Studios, LLC lease as well as the sublease to 1500 Sound Academy, LLC.

(25 – Related Group)

Each letter identifies a group of related borrowers.

(26 – Lockbox Type)

The classification of the lockbox types is described in the prospectus. See “Description of the Mortgage Pool—Certain Calculations and Definitions” in the prospectus for further details.

With respect to Loan No. 1, Piazza Alta, the Piazza Alta whole loan is structured with a soft (for residential tenants) and hard (for commercial tenants) lockbox and in-place cash management. At origination, the Piazza Alta borrower was required to notify each non-residential tenant of the Piazza Alta Property to remit all amounts due with respect to the Piazza Alta Property directly to the lockbox account. Following the addition of any Additional Real Estate (as defined below) to the condominium in accordance with the Piazza Alta whole loan Documents, the borrower will deliver any rents received by the condominium association, including rents from the garage unit into the lockbox account. All rents received by the borrower or property manager (including, rents received from residential tenants, non-residential tenants, payments received from residential tenants in connection with the early termination or cancellation of residential leases and any rents pertaining to the garage unit) are required to be deposited within two business days of receipt into the lockbox account. All funds in the lockbox account are required to be swept each business day into the lender-controlled cash management account and applied and disbursed in accordance with the Piazza Alta whole loan documents. During the continuance of a cash trap period any excess cash flow will be deposited into the cash collateral reserve subaccount. As long as no cash trap period is in effect any excess cash flow is required to transferred to the borrower.

(27 – Tax Abatements)

With respect to Loan No. 29, 2046 Mapes Avenue, the mortgaged property is in the process of receiving the final approval for a 35-year 421-a tax abatement from the NYC Department of Housing Preservation & Development, and is required to reserve at least 30% of the units for households earning up to 130% of area median income under affordable housing guidelines, which 421-a tax abatement phases out in 2058/2059. The loan sponsors have completed the lease up of the required affordable housing units in order to meet the affordability requirements. As of September 22, 2023, the mortgaged property is 100% leased.

With respect to Loan No. 33, Hotel Condor, the mortgaged property receives benefits under the Industrial and Commercial Abatement Program (“ICAP”). The ICAP benefits began in 2011/2022 and will continue for a period of 25 years.

(28 – Master Lease)

(29 – Property Located Within a Qualified Opportunity Zone (Y/N))

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

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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..

(30 – Other)

With respect to Loan No. 1, Piazza Alta, the City of Philadelphia maintains a tax abatement program to promote the development of new housing. Under this program, the assessment attributable to newly constructed or rehabilitated improvements and their resulting real estate taxes are abated for a period of ten years. The tax abatement applicable to the improvements at the mortgaged property will terminate in December 2033. As such, 2034 will be the first year that the full, unabated real estate taxes will be due at the mortgaged property. According to the mortgaged property’s real estate tax schedule, the unabated taxes would be approximately $1,499,586 for 2024 compared to the abated taxes of $239,766. Additionally, the Piazza Alta Property is subject to the Northern Liberties business improvement district taxes of $22,659. Based on the lender’s underwriting, real estate taxes were underwritten to $262,425.

With respect to Loan No. 1, Piazza Alta, the mortgaged property is subject to a two unit condominium regime comprised of (i) the collateral multifamily and retail component referred to as Unit 1 in the condominium regime and (ii) a yet-to-be developed multifamily component to be constructed on an adjacent non-collateral parcel referred to as Unit 2 in the condominium regime, which will not be part of the collateral (other than with respect to the lender’s security interest in any related common elements). The borrower holds a 99.99% interest in the condominium regime as of the date of origination and, following completion of Unit 2, will hold approximately a 62.65% interest in the condominium regime (subject to change in accordance with the condominium declaration; however, the condominium estoppel provides that in no event shall lender not constitute the “Mortgagee Majority” under the condominium as described under as described under “Description of the Mortgage Pool—Statistical Characteristics of the Mortgage Loans—Condominium Interests and Other Shared Interests” in the Preliminary Prospectus). Each unit owner of the condominium has the right to appoint one board member to the condominium board; the borrower will generally not have control of the condominium because of unanimous consent requirements amongst the two unit owners for most events or actions under the condominium regime. The condominium documents provide for binding arbitration in the event of an unresolved dispute between the parties.

With respect to Loan No. 7, Hilton Garden Inn Atlanta Downtown, the mortgaged property is subject to two separate condominium regimes: the “Park Pavilion Master Condominium” and the “Centennial Park West Condominium”. The Park Pavilion Master Condominium comprises eight units and the borrower owns the following five condominium units: the hotel unit (the “Park Pavilion Hotel Unit”), and four retail units (collectively, the “Park Pavilion Retail Units”). The Park Pavilion Hotel Unit and the Park Pavilion Retail Units constitute a 93.5% ownership percentage in the Park Pavilion Master Condominium common elements, and all other property interests comprising the mortgaged property are subject to the Park Pavilion Master Condominium documents. The Centennial Park West Condominium comprises (i) four commercial condominium units owned by the borrower (collectively, the “Centennial Park West Retail Units”) and (ii) 44 residential condominium units, none of which are owned by the borrower. The Centennial Park West Retail Units constitute 10.4% ownership percentage in the Centennial Park West Condominium common elements as set forth in the Centennial Park West Condominium documents. As a result, the borrower does not have any control over the decision to restore the units and common elements of the Centennial Park West Condominium following a casualty or condemnation.

With respect to Loan No. 11, Dels Multifamily Portfolio, the borrower may obtain the release any individual mortgaged property after December 5, 2025, upon a bona fide third party sale, provided that, among other conditions: (i) both immediately before and after such sale, no event of default is continuing, (ii) the sale of such individual mortgaged property is pursuant to an arm's-length agreement with a third party unaffiliated with the borrower or guarantor, and in which neither the borrower nor any affiliate of the borrower and/or

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guarantor has any beneficial interest, (iii) the borrower delivers defeasance collateral in an amount equal to the greater of (x) 125% of the allocated loan amount of the individual mortgaged property or properties, or (y) 100% of the net sales proceeds of such individual mortgaged property, which may not be less than 94% of the gross sales price of such individual mortgaged property, (iv) the aggregate debt service coverage ratio after giving effect to such release is at least the greater of (x) 1.40x and (y) the aggregate debt service coverage ratio immediately prior to such release; (v) the aggregate loan-to-value ratio after giving effect to such release is no more than the lesser of (a) 61.75% and (b) the aggregate loan-to-value ratio immediately prior to such release and (vi) the borrower satisfies customary REMIC requirements.

(31 – Cash Flow Variance)

With respect to Loan No. 8, Scottsdale Gilbert Retail Portfolio, the increase from Most Recent NOI to UW NOI is primarily attributable to seven new leases commencing in 2023/2024 that account for $1,555,535 of underwritten base rent. This includes leases executed by Mountainside Fitness, The Great Greek Mediterranean and Einstein Bros Bagels, which have not yet taken occupancy.

With respect to Loan No. 11, Dels Multifamily Portfolio, the most recent cash flow analysis relies on the T-3 annualized period from June 30, 2023 to reflect stabilized cash-flows. Multiple properties in the portfolio were renovated throughout 2022 and did not reach stabilization until several months after the repositioning.

With respect to Loan No. 12, Keyport Industrial Portfolio, the increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily driven by 21 leases which commenced or were renewed/extended in July 2022 or later, representing 83.5% of the net rentable area.

With respect to Loan No. 21, The Schlaff Mixed Use Portfolio, the increase from the Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily driven by the borrower sponsor executing new leases at each of the mortgaged properties.

(32 – Use of Funds)

(33 – Tenants-in-common)

With respect to Loan No. 5, 369 Lexington Avenue & 2 West 46th Street, the borrowers own the related mortgaged property as tenants–in–common.

With respect to Loan No. 10, Lacey Market Square, in 2014 the borrowers conveyed the related mortgaged property to the Lacey Grantors and in connection with such transfer, the borrowers granted a mortgage loan to the Lacey Grantors which mortgage loan is evidenced by two amended and restated promissory notes and secured by a wraparound mortgage. The Lacey Grantors own the mortgaged property as tenants-in-common and have waived their respective right to partition.

With respect to Loan No. 12, Keyport Industrial Portfolio, the borrowers own the related mortgaged property as tenants–in–common.

With respect to Loan No. 23, Harborside 2-3, the borrowers own the related mortgaged property as tenants–in–common.

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BMO 2023-5C2 Mortgage Trust FWPFree writing prospectus