| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-276033-03 |
BBCMS 2024-C28 Disclaimer
STATEMENT REGARDING THIS FREE WRITING PROSPECTUS
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-276033) 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 Web site at www.sec.gov. Alternatively, the depositor, any 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 1-888-603-5847 (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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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 of Barclays Capital Inc., Goldman Sachs & Co. LLC, SG Americas Securities, LLC, Wells Fargo Securities, LLC, UBS Securities LLC, Deutsche Bank Securities Inc., Bancroft Capital, LLC and 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.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| 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 |
| 1 | 25 | ||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 9.9% | 100.0% | WFB | WFB | NAP | NAP | 12430 4th Street and 12415 6th Street |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 9.9% | 100.0% | GSBI | GSMC | NAP | NAP | 900 North Michigan Avenue |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 9.7% | 100.0% | Barclays, GSBI, JPMCB, SGFC | Barclays, SGFC | NAP | NAP | 4663 River City Drive |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 8.7% | 100.0% | GACC, GSBI, WFB | GACC, GSMC | NAP | NAP | 8000 South Arizona Grand Parkway |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 6.5% | 100.0% | GSBI | GSMC | NAP | NAP | 850 Morrison Drive |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 6.2% | 100.0% | GSBI | GSMC | NAP | NAP | 2000 North Stemmons Freeway and 2050-2100 North Stemmons Freeway |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 5.6% | 100.0% | Barclays, MSBNA | Barclays | NAP | NAP | 10950 North Torrey Pines Road |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 4.3% | 100.0% | UBS AG | UBS AG | NAP | NAP | 1900 Cardinal Drive |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 4.0% | 100.0% | UBS AG | UBS AG | NAP | NAP | 4 & 10 Coliseum Avenue and 5, 10, 14-40, 42-48 & 51 Gusabel Avenue |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 3.5% | 100.0% | SGFC | SGFC | NAP | NAP | 6 Industrial Way East |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 2.7% | 100.0% | Barclays | Barclays | NAP | NAP | 150 Montgomery Street |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 2.4% | 100.0% | ZBNA | ZBNA | Group B | NAP | 8060 & 8115-8133 Montgomery Road |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 2.2% | 100.0% | ZBNA | ZBNA | Group B | NAP | 12104 Shawnee Mission Parkway |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 1.9% | 100.0% | SMC | SMC | NAP | NAP | 2067 Anthony Avenue |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 1.8% | 100.0% | ZBNA | ZBNA | NAP | NAP | 1275, 1276, 1350, 1351, 1430 & 1431 Mike Street | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 1.8% | 100.0% | SGFC | SGFC | Group A | NAP | 5520 North 92nd Street, 9306 West Birch Avenue, 53225 and 5860 North Teutonia Avenue, 8808 and 8816 West Mill Road, 5235 and 5286 North 29th Street, 1514, 1524 and 1534 Melvin Avenue, 2600 West Victory Lane, 10295 West Fond Du Lac Avenue, 2360 North 53rd Street, 4835 North 91st Street, 5147 North 28th Street, 5159 North 85th Street, 2727 South 13th Street and 4180 North 53rd Street |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 1.6% | Barclays | Barclays | NAP | NAP | Various | |
| 17.01 | Property | 1 | Kenton Place | 0.8% | 47.1% | 17105C-17115A Kenton Drive | |||||
| 17.02 | Property | 1 | Mint Hill Village | 0.4% | 24.8% | 7427 Matthews-Mint Hill Road and 4410 Mint Hill Lane | |||||
| 17.03 | Property | 1 | Market Square II | 0.3% | 16.9% | 14225 and 14231 Market Square Drive | |||||
| 17.04 | Property | 1 | Charlotte Auto | 0.2% | 11.3% | 10120 Albemarle Road | |||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 1.6% | 100.0% | Barclays | Barclays | NAP | NAP | 10450 South Eastern Avenue |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 1.6% | 100.0% | BSPRT | BSPRT | NAP | NAP | 320 North Park Vista Street |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 1.5% | 100.0% | SGFC | SGFC | Group A | NAP | 5940 North Sherman Boulevard, 5045-5065 North Hopkins Street, 4276 & 4331 North 27th Street and 5770 North 91st Street |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 1.4% | 100.0% | SGFC | SGFC | NAP | NAP | 4504 South Orange Blossom Trail |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 1.4% | 100.0% | GSBI | GSMC | NAP | NAP | 92 West 169th Street |
| 23 | Loan | 27 | 1 | Oakwood Square | 1.3% | 100.0% | GSBI | GSMC | NAP | NAP | 2640-2710 Easton Street Northeast and 6242 Middlebranch Avenue Northeast |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 1.2% | 100.0% | SGFC | SGFC | Group A | NAP | 8804 West Carmen Avenue, 6140 and 8227 West Appleton Avenue, 9346 West Birch Avenue, 5700 North 91st Street, 8677 West Fond Du Lac Avenue, 5859 North Lovers Lane Road, 4401 North 51st Boulevard, 5952 North 63rd Street, 9200 and 9314 West Sheridan Avenue, 9205, 9307, 9410 and 9425 West Silver Spring Drive and 9405 West Beckett Avenue |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 1.1% | 100.0% | SGFC | SGFC | Group A | NAP | 4921-4947, 4977, 6225, 6235 North 84th Street, 8726 West Carmen Avenue, 6702-6704 North 55th Street, 9024-9026 North Joyce Avenue and 9040, 9050 & 9060 North 85th Street |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 1.1% | 100.0% | Barclays | Barclays | Group C | NAP | 900 South Raymond Avenue | |
| 27 | Loan | 1 | Summerfield Apartments | 0.8% | 100.0% | SMC | SMC | NAP | NAP | 7614 South Gessner Road | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 0.7% | 100.0% | GSBI | GSMC | NAP | NAP | 501 West 58th Avenue |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 0.7% | SMC | SMC | NAP | NAP | Various | |
| 29.01 | Property | 1 | Eagle Trace MHC | 0.6% | 86.1% | 908 North Houston Lake Boulevard | |||||
| 29.02 | Property | 1 | Edgewood MHC | 0.1% | 13.9% | 519 Dunbar Road | |||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 0.6% | 100.0% | Barclays | Barclays | Group C | NAP | 150 County Road |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | 0.4% | 100.0% | LCF | LCF | Group D | NAP | 9307 Lee Highway |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 0.4% | 100.0% | LCF | LCF | Group D | NAP | 5104 Bobby Hicks Highway |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 0.4% | 100.0% | LCF | LCF | Group D | NAP | 914 Greenlea Boulevard |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 0.4% | 100.0% | Barclays | Barclays | Group C | NAP | 1530 East Grand Avenue |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 0.1% | 100.0% | LCF | LCF | Group D | NAP | 676 North Volusia Avenue |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 0.1% | 100.0% | LCF | LCF | Group D | NAP | 4975 North US Highway 17 |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 0.1% | 100.0% | LCF | LCF | Group D | NAP | 1149 South US Highway 17 |
| A-1-1 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | City | County | State | Zip Code | General Property Type | Detailed Property Type | Year Built | Year Renovated |
| 2 | 2 | |||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | Rancho Cucamonga | San Bernardino | CA | Various | Industrial | Warehouse / Distribution | 2024 | NAP |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | Chicago | Cook | IL | 60611 | Mixed Use | Retail / Office | 1988 | 2015-2018 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Jacksonville | Duval | FL | 32246 | Retail | Super Regional Mall | 2005, 2008, 2014 | NAP |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Phoenix | Maricopa | AZ | 85044 | Hospitality | Full Service | 1987 | 2017-2019 |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | Charleston | Charleston | SC | 29403 | Office | Suburban | 2023 | NAP |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | Dallas | Dallas | TX | 75207 | Mixed Use | Merchandise Mart/Retail | 1957, 1958, 1974, 1979 | 1999, 2019 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | La Jolla | San Diego | CA | 92037 | Hospitality | Full Service | 1989 | 2012 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | Fulton | Callaway | MO | 65251 | Industrial | Warehouse / Distribution | 1999 | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | Nashua | Hillsborough | NH | 03063 | Retail | Anchored | 1967-2006 | 2023 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | Eatontown | Monmouth | NJ | 07724 | Hospitality | Full Service | 1988 | 2017-2019 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | Savannah | Chatham | GA | 31401 | Hospitality | Select Service | 2009 | 2015 |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | Cincinnati | Hamilton | OH | 45236 | Retail | Anchored | 1998, 2013 | 2024 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | Shawnee | Johnson | KS | 66216 | Retail | Anchored | 1980, 1993, 2002, 2014 | NAP |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | Bronx | Bronx | NY | 10457 | Multifamily | Mid Rise | 2024 | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | Dickinson | Stark | ND | 58601 | Multifamily | Garden | 2013, 2014 | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | Milwaukee and Racine | Milwaukee and Racine | WI | 53225, 53209, 53224, 53210, 53215, 53216 and 53402 | Multifamily | Garden | 1928, 1951, 1954, 1955, 1959, 1960, 1961, 1970, 1976, 1978 | 2020, 2022 |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | Various | Mecklenburg | NC | Various | Various | Various | Various | Various |
| 17.01 | Property | 1 | Kenton Place | Cornelius | Mecklenburg | NC | 28031 | Mixed Use | Retail / Office / Multifamily | 2001 | 2014 | |
| 17.02 | Property | 1 | Mint Hill Village | Mint Hill | Mecklenburg | NC | 28227 | Retail | Unanchored | 2007 | NAP | |
| 17.03 | Property | 1 | Market Square II | Huntersville | Mecklenburg | NC | 28078 | Retail | Unanchored | 2008 | NAP | |
| 17.04 | Property | 1 | Charlotte Auto | Charlotte | Mecklenburg | NC | 28227 | Retail | Auto Dealer / Service | 2004 | NAP | |
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | Henderson | Clark | NV | 89052 | Hospitality | Extended Stay | 2006 | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | Anaheim | Orange | CA | 92806 | Manufactured Housing | Manufactured Housing | 1970 | NAP |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | Milwaukee | Milwaukee | WI | 53209, 53216 and 53225 | Multifamily | Garden | 1927, 1929, 1955, 1959, 1963 | 2018 |
| 21 | Loan | 19 | 1 | Orange Blossom Center | Orlando | Orange | FL | 32839 | Retail | Anchored | 1959 | NAP |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | Bronx | Bronx | NY | 10452 | Multifamily | Mid Rise | 2024 | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | Canton | Stark | OH | 44721 | Retail | Anchored | 1982-1983 | 2018 |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | Milwaukee | Milwaukee | WI | 53210, 53218 and 53225 | Multifamily | Garden | 1947, 1958, 1959, 1960, 1961, 1962, 1973 | 2020, 2021 |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | Milwaukee | Milwaukee | WI | 53225, 53223 and 53224 | Multifamily | Garden | 1959, 1960, 1963, 1978, 1980 | 2022 |
| 26 | Loan | 1 | CT Self Storage - Fullerton | Fullerton | Orange | CA | 92831 | Self Storage | Self Storage | 2004 | NAP | |
| 27 | Loan | 1 | Summerfield Apartments | Houston | Harris | TX | 77036 | Multifamily | Garden | 1969 | 2023 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | Anchorage | Anchorage | AK | 99518 | Industrial | Warehouse / Distribution | 1984 | NAP |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | Warner Robins | Houston | GA | 31093 | Manufactured Housing | Manufactured Housing | Various | NAP |
| 29.01 | Property | 1 | Eagle Trace MHC | Warner Robins | Houston | GA | 31093 | Manufactured Housing | Manufactured Housing | 1990 | NAP | |
| 29.02 | Property | 1 | Edgewood MHC | Warner Robins | Houston | GA | 31093 | Manufactured Housing | Manufactured Housing | 1970 | NAP | |
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | Pomona | Los Angeles | CA | 91766 | Self Storage | Self Storage | 2003 | NAP |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | Ooltewah | Hamilton | TN | 37363 | Retail | Single Tenant | 2008 | NAP |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | Johnson City | Washington | TN | 37615 | Retail | Single Tenant | 2007 | NAP |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | Gallatin | Sumner | TN | 37066 | Retail | Single Tenant | 2007 | NAP |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | Escondido | San Diego | CA | 92027 | Self Storage | Self Storage | 2004 | NAP |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | Orange City | Volusia | FL | 32763 | Retail | Single Tenant | 2012 | NAP |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | De Leon Springs | Volusia | FL | 32130 | Retail | Single Tenant | 2012 | NAP |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | Satsuma | Putnam | FL | 32189 | Retail | Single Tenant | 2011 | NAP |
| A-1-2 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | 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 % | Monthly Debt Service (P&I) ($) | Monthly Debt Service (IO) ($) | Annual Debt Service (P&I) ($) | Annual Debt Service (IO) ($) | Amortization Type |
| 3 | 6, 7 | 6, 7 | 6, 7 | 8 | 9 | 9 | 9 | 9 | ||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 2,168,119 | SF | 123.43 | 80,000,000 | 80,000,000 | 80,000,000 | 5.83310% | 0.01893% | 5.81417% | NAP | 394,274.35 | NAP | 4,731,292.20 | Interest Only |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 831,350 | SF | 216.52 | 80,000,000 | 80,000,000 | 80,000,000 | 6.85300% | 0.01643% | 6.83657% | NAP | 463,212.04 | NAP | 5,558,544.48 | Interest Only |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 1,022,042 | SF | 352.24 | 78,000,000 | 78,000,000 | 78,000,000 | 5.94800% | 0.01643% | 5.93157% | NAP | 391,989.72 | NAP | 4,703,876.64 | Interest Only |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 744 | Rooms | 168,010.75 | 70,000,000 | 70,000,000 | 70,000,000 | 5.55000% | 0.01643% | 5.53357% | NAP | 328,246.53 | NAP | 3,938,958.36 | Interest Only |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 153,509 | SF | 342.00 | 52,500,000 | 52,500,000 | 52,500,000 | 7.28400% | 0.01643% | 7.26757% | NAP | 323,101.04 | NAP | 3,877,212.48 | Interest Only |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 2,746,550 | SF | 86.29 | 50,000,000 | 50,000,000 | 50,000,000 | 6.50200% | 0.01768% | 6.48432% | NAP | 274,679.40 | NAP | 3,296,152.80 | Interest Only |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 394 | Rooms | 279,187.82 | 45,000,000 | 45,000,000 | 45,000,000 | 6.68700% | 0.01768% | 6.66932% | NAP | 254,245.31 | NAP | 3,050,943.72 | Interest Only |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 1,128,300 | SF | 31.02 | 35,000,000 | 35,000,000 | 35,000,000 | 6.62800% | 0.01643% | 6.61157% | NAP | 196,001.62 | NAP | 2,352,019.44 | Interest Only |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 259,868 | SF | 124.64 | 32,500,000 | 32,388,713 | 28,457,961 | 7.15000% | 0.01643% | 7.13357% | 219,507.20 | NAP | 2,634,086.40 | NAP | Amortizing Balloon |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 208 | Rooms | 136,933.25 | 28,500,000 | 28,482,116 | 24,847,537 | 6.98800% | 0.01643% | 6.97157% | 189,381.58 | NAP | 2,272,578.96 | NAP | Amortizing Balloon |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 160 | Rooms | 137,500.00 | 22,000,000 | 22,000,000 | 22,000,000 | 6.70000% | 0.01643% | 6.68357% | NAP | 124,539.35 | NAP | 1,494,472.20 | Interest Only |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 82,867 | SF | 235.32 | 19,500,000 | 19,500,000 | 19,500,000 | 7.19000% | 0.01643% | 7.17357% | NAP | 118,460.24 | NAP | 1,421,522.88 | Interest Only |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 183,479 | SF | 98.10 | 18,000,000 | 18,000,000 | 18,000,000 | 6.86000% | 0.01643% | 6.84357% | NAP | 104,329.17 | NAP | 1,251,950.04 | Interest Only |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 52 | Units | 298,076.92 | 15,500,000 | 15,500,000 | 15,500,000 | 6.06500% | 0.01643% | 6.04857% | NAP | 79,427.63 | NAP | 953,131.60 | Interest Only |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 396 | Units | 35,798.49 | 14,200,000 | 14,176,204 | 12,637,913 | 7.79600% | 0.06518% | 7.73082% | 102,182.29 | NAP | 1,226,187.48 | NAP | Amortizing Balloon | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 145 | Units | 97,241.38 | 14,100,000 | 14,100,000 | 12,322,050 | 7.08300% | 0.01643% | 7.06657% | 94,594.93 | NAP | 1,135,139.16 | NAP | Amortizing Balloon |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 87,558 | SF | 150.76 | 13,200,000 | 13,200,000 | 13,200,000 | 6.96000% | 0.01643% | 6.94357% | NAP | 77,623.33 | NAP | 931,479.96 | Interest Only |
| 17.01 | Property | 1 | Kenton Place | 38,299 | SF | 6,215,000 | 6,215,000 | 6,215,000 | ||||||||||
| 17.02 | Property | 1 | Mint Hill Village | 20,259 | SF | 3,275,000 | 3,275,000 | 3,275,000 | ||||||||||
| 17.03 | Property | 1 | Market Square II | 10,000 | SF | 2,225,000 | 2,225,000 | 2,225,000 | ||||||||||
| 17.04 | Property | 1 | Charlotte Auto | 19,000 | SF | 1,485,000 | 1,485,000 | 1,485,000 | ||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 145 | Rooms | 88,219.66 | 12,800,000 | 12,791,851 | 11,145,346 | 6.94000% | 0.01643% | 6.92357% | 84,643.56 | NAP | 1,015,722.72 | NAP | Amortizing Balloon |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 200 | Pads | 63,750.00 | 12,750,000 | 12,750,000 | 10,197,494 | 7.00000% | 0.01643% | 6.98357% | 90,114.35 | NAP | 1,081,372.20 | NAP | Amortizing Balloon |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 118 | Units | 102,605.10 | 12,115,000 | 12,107,402 | 10,562,944 | 6.99000% | 0.01643% | 6.97357% | 80,520.05 | NAP | 966,240.60 | NAP | Amortizing Balloon |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 159,608 | SF | 68.92 | 11,000,000 | 11,000,000 | 11,000,000 | 6.69600% | 0.01643% | 6.67957% | NAP | 62,232.50 | NAP | 746,790.00 | Interest Only |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 38 | Units | 289,473.68 | 11,000,000 | 11,000,000 | 11,000,000 | 6.37000% | 0.01643% | 6.35357% | NAP | 59,202.66 | NAP | 710,431.92 | Interest Only |
| 23 | Loan | 27 | 1 | Oakwood Square | 122,707 | SF | 85.16 | 10,450,000 | 10,450,000 | 9,126,781 | 7.06000% | 0.01643% | 7.04357% | 69,945.71 | NAP | 839,348.52 | NAP | Amortizing Balloon |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 96 | Units | 102,239.58 | 9,815,000 | 9,815,000 | 8,538,612 | 6.91200% | 0.01643% | 6.89557% | 64,720.40 | NAP | 776,644.80 | NAP | Amortizing Balloon |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 92 | Units | 98,686.12 | 9,085,000 | 9,079,123 | 7,899,372 | 6.88700% | 0.01643% | 6.87057% | 59,754.85 | NAP | 717,058.20 | NAP | Amortizing Balloon |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 100,999 | SF | 89.11 | 9,000,000 | 9,000,000 | 9,000,000 | 5.69000% | 0.01643% | 5.67357% | NAP | 43,267.71 | NAP | 519,212.52 | Interest Only | |
| 27 | Loan | 1 | Summerfield Apartments | 110 | Units | 56,636.36 | 6,230,000 | 6,230,000 | 6,230,000 | 7.05000% | 0.01643% | 7.03357% | NAP | 37,109.60 | NAP | 445,315.21 | Interest Only | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 48,000 | SF | 125.00 | 6,000,000 | 6,000,000 | 6,000,000 | 6.45800% | 0.01643% | 6.44157% | NAP | 32,738.47 | NAP | 392,861.64 | Interest Only |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 136 | Pads | 42,279.41 | 5,750,000 | 5,750,000 | 5,750,000 | 7.12000% | 0.01643% | 7.10357% | NAP | 34,590.51 | NAP | 415,086.11 | Interest Only |
| 29.01 | Property | 1 | Eagle Trace MHC | 107 | Pads | 4,950,000 | 4,950,000 | 4,950,000 | ||||||||||
| 29.02 | Property | 1 | Edgewood MHC | 29 | Pads | 800,000 | 800,000 | 800,000 | ||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 87,840 | SF | 56.92 | 5,000,000 | 5,000,000 | 5,000,000 | 5.88000% | 0.01643% | 5.86357% | NAP | 24,840.28 | NAP | 298,083.36 | Interest Only |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens- Ooltewah | 14,550 | SF | 247.42 | 3,600,000 | 3,600,000 | 3,600,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 20,707.67 | NAP | 248,492.04 | Interest Only - ARD |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 14,550 | SF | 233.68 | 3,400,000 | 3,400,000 | 3,400,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 19,557.24 | NAP | 234,686.88 | Interest Only - ARD |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 14,820 | SF | 215.92 | 3,200,000 | 3,200,000 | 3,200,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 18,406.81 | NAP | 220,881.72 | Interest Only - ARD |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 76,176 | SF | 39.38 | 3,000,000 | 3,000,000 | 3,000,000 | 5.73000% | 0.01643% | 5.71357% | NAP | 14,523.96 | NAP | 174,287.52 | Interest Only |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 9,026 | SF | 116.33 | 1,050,000 | 1,050,000 | 1,050,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 6,039.74 | NAP | 72,476.88 | Interest Only - ARD |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 9,100 | SF | 109.89 | 1,000,000 | 1,000,000 | 1,000,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 5,752.13 | NAP | 69,025.56 | Interest Only - ARD |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 9,026 | SF | 94.17 | 850,000 | 850,000 | 850,000 | 6.80800% | 0.01643% | 6.79157% | NAP | 4,889.31 | NAP | 58,671.72 | Interest Only - ARD |
| A-1-3 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | 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.) | Origination Date | Seasoning (Mos.) | Payment Due Date | First Payment Date | First P&I Payment Date | Maturity Date or Anticipated Repayment Date | Final Maturity Date |
| 11 | |||||||||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | No | Actual/360 | 84 | 83 | 84 | 83 | 0 | 0 | 6/28/2024 | 1 | 11 | 8/11/2024 | NAP | 7/11/2031 | 7/11/2031 |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | No | Actual/360 | 120 | 118 | 120 | 118 | 0 | 0 | 5/10/2024 | 2 | 1 | 7/1/2024 | NAP | 6/1/2034 | 6/1/2034 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/26/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | No | Actual/360 | 84 | 83 | 84 | 83 | 0 | 0 | 6/20/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2031 | 7/6/2031 |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | No | Actual/360 | 120 | 118 | 120 | 118 | 0 | 0 | 5/31/2024 | 2 | 6 | 7/6/2024 | NAP | 6/6/2034 | 6/6/2034 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/17/2024 | 0 | 1 | 9/1/2024 | NAP | 8/1/2034 | 8/1/2034 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/24/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | No | Actual/360 | 0 | 0 | 120 | 115 | 360 | 355 | 2/27/2024 | 5 | 6 | 4/6/2024 | 4/6/2024 | 3/6/2034 | 3/6/2034 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | No | Actual/360 | 0 | 0 | 120 | 119 | 360 | 359 | 6/27/2024 | 1 | 1 | 8/1/2024 | 8/1/2024 | 7/1/2034 | 7/1/2034 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | No | Actual/360 | 120 | 118 | 120 | 118 | 0 | 0 | 6/6/2024 | 2 | 6 | 7/6/2024 | NAP | 6/6/2034 | 6/6/2034 |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/17/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/17/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/11/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | No | Actual/360 | 0 | 0 | 120 | 117 | 360 | 357 | 4/18/2024 | 3 | 6 | 6/6/2024 | 6/6/2024 | 5/6/2034 | 5/6/2034 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | No | Actual/360 | 0 | 0 | 120 | 120 | 360 | 360 | 7/2/2024 | 0 | 1 | 9/1/2024 | 9/1/2024 | 8/1/2034 | 8/1/2034 |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/23/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 17.01 | Property | 1 | Kenton Place | ||||||||||||||||
| 17.02 | Property | 1 | Mint Hill Village | ||||||||||||||||
| 17.03 | Property | 1 | Market Square II | ||||||||||||||||
| 17.04 | Property | 1 | Charlotte Auto | ||||||||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | No | Actual/360 | 0 | 0 | 120 | 119 | 360 | 359 | 6/20/2024 | 1 | 6 | 8/6/2024 | 8/6/2024 | 7/6/2034 | 7/6/2034 |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | No | Actual/360 | 0 | 0 | 120 | 120 | 300 | 300 | 7/23/2024 | 0 | 6 | 9/6/2024 | 9/6/2024 | 8/6/2034 | 8/6/2034 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | No | Actual/360 | 0 | 0 | 120 | 119 | 360 | 359 | 6/6/2024 | 1 | 1 | 8/1/2024 | 8/1/2024 | 7/1/2034 | 7/1/2034 |
| 21 | Loan | 19 | 1 | Orange Blossom Center | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/10/2024 | 0 | 1 | 9/1/2024 | NAP | 8/1/2034 | 8/1/2034 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 6/21/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 |
| 23 | Loan | 27 | 1 | Oakwood Square | No | Actual/360 | 0 | 0 | 120 | 120 | 360 | 360 | 7/17/2024 | 0 | 6 | 9/6/2024 | 9/6/2024 | 8/6/2034 | 8/6/2034 |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | No | Actual/360 | 0 | 0 | 120 | 120 | 360 | 360 | 7/8/2024 | 0 | 1 | 9/1/2024 | 9/1/2024 | 8/1/2034 | 8/1/2034 |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | No | Actual/360 | 0 | 0 | 120 | 119 | 360 | 359 | 6/24/2024 | 1 | 1 | 8/1/2024 | 8/1/2024 | 7/1/2034 | 7/1/2034 |
| 26 | Loan | 1 | CT Self Storage - Fullerton | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 6/26/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 | |
| 27 | Loan | 1 | Summerfield Apartments | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 6/28/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 6/25/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | No | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/19/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2034 |
| 29.01 | Property | 1 | Eagle Trace MHC | ||||||||||||||||
| 29.02 | Property | 1 | Edgewood MHC | ||||||||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 7/11/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 1/6/2037 |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 10/6/2037 |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 8/6/2037 |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | No | Actual/360 | 120 | 119 | 120 | 119 | 0 | 0 | 7/11/2024 | 1 | 6 | 8/6/2024 | NAP | 7/6/2034 | 7/6/2034 |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 4/6/2037 |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 1/6/2037 |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | Yes | Actual/360 | 120 | 120 | 120 | 120 | 0 | 0 | 7/22/2024 | 0 | 6 | 9/6/2024 | NAP | 8/6/2034 | 4/6/2037 |
| A-1-4 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Grace Period - Late Fee (Days) | Grace Period - Default (Days) | Prepayment Provision | Most Recent EGI ($) | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent NOI Date | Most Recent Description | Second Most Recent EGI ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent NOI Date |
| 10 | 12 | 16 | 16 | |||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 0 | 0 | L(25),D(52),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 5 (Once per trailing 12-month period) | 0 | L(24),D(89),O(7) | 57,803,398 | 31,088,059 | 26,715,339 | 12/31/2023 | T-12 | 55,448,320 | 29,652,635 | 25,795,686 | 12/31/2022 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 0 | 0 | L(26),D(88),O(6) | 57,541,496 | 15,808,735 | 41,732,761 | 12/31/2023 | T-12 | 53,937,457 | 14,670,553 | 39,266,904 | 12/31/2022 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 0 | 0 | L(24),D(89),O(7) | 99,370,667 | 69,105,823 | 30,264,845 | 4/30/2024 | T-12 | 94,844,651 | 66,725,487 | 28,119,164 | 12/31/2023 |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 0 | 0 | L(25),D(52),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 0 | 0 | L(26),D(87),O(7) | 89,131,929 | 52,704,290 | 36,427,639 | 2/29/2024 | T-12 | 84,850,749 | 49,758,034 | 35,092,715 | 2/28/2023 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 0 | 5 | L(24),D(89),O(7) | 52,688,988 | 33,313,010 | 19,375,978 | 5/31/2024 | T-12 | 50,714,969 | 32,484,721 | 18,230,248 | 12/31/2023 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 0 | 0 | L(24),D(89),O(7) | 3,441,312 | 0 | 3,441,312 | 4/30/2024 | T-12 | 3,441,315 | 0 | 3,441,315 | 12/31/2023 |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 0 | 0 | L(29),D(84),O(7) | 4,874,784 | 1,525,158 | 3,349,626 | 8/31/2023 | T-12 | 4,232,784 | 1,560,340 | 2,672,445 | 12/31/2022 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 5 | 5 | L(35),D(78),O(7) | 12,555,596 | 8,501,057 | 4,054,539 | 4/30/2024 | T-12 | 12,649,976 | 8,497,764 | 4,152,212 | 12/31/2023 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 0 | 0 | L(24),YM1(89),O(7) | 9,922,126 | 6,230,104 | 3,692,022 | 4/30/2024 | T-12 | 10,168,593 | 6,419,886 | 3,748,707 | 12/31/2023 |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 0 | 0 | L(24),D(91),O(5) | 3,496,424 | 935,063 | 2,561,361 | 5/31/2024 | T-12 | 3,384,165 | 919,441 | 2,464,724 | 12/31/2023 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 0 | 0 | L(24),D(91),O(5) | 3,011,029 | 1,188,669 | 1,822,360 | 5/31/2024 | T-12 | 2,991,992 | 1,190,447 | 1,801,545 | 12/31/2023 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 0 | 0 | L(24),D(92),O(4) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 0 | 0 | L(27),D(88),O(5) | 3,335,237 | 1,539,130 | 1,796,107 | 5/31/2024 | T-12 | 2,971,769 | 1,489,940 | 1,481,829 | 12/31/2023 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 5 | 5 | L(35),YM1(81),O(4) | 2,100,224 | 458,738 | 1,641,486 | 5/31/2024 | T-12 | 1,931,080 | 483,864 | 1,447,216 | 12/31/2023 |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 0 | 0 | L(24),D(92),O(4) | 1,782,194 | 424,578 | 1,357,615 | 4/30/2024 | T-12 | 1,762,390 | 431,927 | 1,330,462 | 12/31/2023 |
| 17.01 | Property | 1 | Kenton Place | 853,405 | 238,305 | 615,100 | 4/30/2024 | T-12 | 855,181 | 243,691 | 611,491 | 12/31/2023 | ||||
| 17.02 | Property | 1 | Mint Hill Village | 457,203 | 97,325 | 359,878 | 4/30/2024 | T-12 | 465,971 | 93,661 | 372,310 | 12/31/2023 | ||||
| 17.03 | Property | 1 | Market Square II | 270,586 | 54,616 | 215,970 | 4/30/2024 | T-12 | 240,809 | 54,664 | 186,145 | 12/31/2023 | ||||
| 17.04 | Property | 1 | Charlotte Auto | 201,000 | 34,333 | 166,667 | 4/30/2024 | T-12 | 200,428 | 39,912 | 160,516 | 12/31/2023 | ||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 0 | 0 | L(25),D(91),O(4) | 6,527,425 | 4,312,061 | 2,215,364 | 4/30/2024 | T-12 | 6,545,076 | 4,355,329 | 2,189,747 | 12/31/2023 |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 0 | 0 | L(24),YM1(90),O(6) | 6,178,908 | 3,948,100 | 2,230,808 | 5/31/2024 | T-12 | 6,095,312 | 3,979,909 | 2,115,403 | 12/31/2023 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 5 | 5 | L(35),YM1(81),O(4) | 1,596,049 | 262,975 | 1,333,074 | 4/30/2024 | T-12 | 1,563,102 | 306,097 | 1,257,004 | 12/31/2023 |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 0 | 0 | L(24),D(89),O(7) | 2,500,603 | 772,860 | 1,727,743 | 4/30/2024 | T-12 | 2,459,656 | 828,964 | 1,630,692 | 12/31/2023 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 0 | 0 | L(25),D(88),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 23 | Loan | 27 | 1 | Oakwood Square | 0 | 0 | L(24),D(89),O(7) | 1,510,834 | 406,500 | 1,104,334 | 5/31/2024 | T-12 | 1,456,048 | 427,888 | 1,028,160 | 12/31/2023 |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 5 | 5 | L(35),YM1(81),O(4) | 1,407,373 | 278,089 | 1,129,284 | 5/31/2024 | T-12 | 1,285,900 | 281,478 | 1,004,422 | 12/31/2023 |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 5 | 5 | L(35),YM1(81),O(4) | 1,258,096 | 315,503 | 942,593 | 4/30/2024 | T-12 | 1,168,407 | 292,849 | 875,558 | 12/31/2023 |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 0 | 0 | L(25),D(88),O(7) | 2,196,703 | 557,076 | 1,639,627 | 5/31/2024 | T-12 | 2,204,415 | 553,069 | 1,651,346 | 12/31/2023 | |
| 27 | Loan | 1 | Summerfield Apartments | 0 | 0 | L(24),YM1(91),O(5) | 1,097,533 | 479,316 | 618,217 | 5/31/2024 | T-12 | 1,066,054 | 486,783 | 579,271 | 12/31/2023 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 0 | 0 | L(25),D(88),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 0 | 0 | L(24),YM1(91),O(5) | 798,522 | 167,819 | 630,703 | 5/31/2024 | T-12 | 786,874 | 161,657 | 625,217 | 12/31/2023 |
| 29.01 | Property | 1 | Eagle Trace MHC | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
| 29.02 | Property | 1 | Edgewood MHC | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 0 | 0 | L(25),D(88),O(7) | 1,880,896 | 872,281 | 1,008,615 | 5/31/2024 | T-12 | 1,866,212 | 816,597 | 1,049,615 | 12/31/2023 |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens- Ooltewah | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 0 | 0 | L(25),D(88),O(7) | 1,891,546 | 624,109 | 1,267,437 | 5/31/2024 | T-12 | 1,873,099 | 618,425 | 1,254,674 | 12/31/2023 |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 0 | 0 | YM(24),DorYM(89),O(7) | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV |
| A-1-5 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Second Most Recent Description | Third Most Recent EGI ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent NOI Date | Third Most Recent Description | Underwritten Economic Occupancy (%) | Underwritten EGI ($) | Underwritten Expenses ($) | Underwritten Net Operating Income ($) | Underwritten Replacement / FF&E Reserve ($) | Underwritten TI / LC ($) | Underwritten Net Cash Flow ($) | Underwritten NOI DSCR (x) |
| 16 | 15 | 15 | 7, 14 | |||||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 51,204,198 | 7,913,376 | 43,290,822 | 21,681 | 0 | 43,269,141 | 2.74 |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | T-12 | 54,179,102 | 27,476,761 | 26,702,341 | 12/31/2021 | T-12 | 90.8% | 56,031,359 | 33,262,367 | 22,768,993 | 224,465 | 441,427 | 22,103,101 | 1.82 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | T-12 | 49,482,581 | 13,527,876 | 35,954,705 | 12/31/2021 | T-12 | 92.1% | 63,759,318 | 15,996,884 | 47,762,434 | 264,000 | 2,088,000 | 45,410,434 | 2.20 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | T-12 | 93,704,479 | 62,651,235 | 31,053,244 | 12/31/2022 | T-12 | 63.2% | 99,267,457 | 69,043,990 | 30,223,467 | 3,766,975 | 0 | 26,456,492 | 4.30 |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | NAV | NAV | NAV | NAV | NAV | NAV | 95.6% | 8,709,237 | 2,377,152 | 6,332,085 | 30,702 | 124,816 | 6,176,567 | 1.63 |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | T-12 | 75,542,455 | 41,287,106 | 34,255,349 | 2/28/2022 | T-12 | 94.0% | 93,314,164 | 52,910,281 | 40,403,884 | 631,706 | 1,268,250 | 38,503,927 | 2.59 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | T-12 | 49,075,696 | 30,973,337 | 18,102,359 | 12/31/2022 | T-12 | 78.9% | 53,274,784 | 34,528,706 | 18,746,078 | 2,663,739 | 0 | 16,082,339 | 2.51 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | T-12 | 3,788,818 | 0 | 3,788,818 | 12/31/2022 | T-12 | 95.0% | 3,446,226 | 103,387 | 3,342,839 | 0 | 0 | 3,342,839 | 1.42 |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | T-12 | 4,143,401 | 1,557,266 | 2,586,135 | 12/31/2021 | T-12 | 95.0% | 5,109,335 | 1,560,664 | 3,548,670 | 38,980 | 75,163 | 3,434,527 | 1.35 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | T-12 | 10,210,415 | 7,358,241 | 2,852,174 | 12/31/2022 | T-12 | 58.5% | 12,521,291 | 8,477,139 | 4,044,152 | 626,065 | 0 | 3,418,087 | 1.78 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | T-12 | 9,709,599 | 6,297,075 | 3,412,523 | 12/31/2022 | T-12 | 80.1% | 9,922,126 | 6,236,577 | 3,685,549 | 396,885 | 0 | 3,288,664 | 2.47 |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | T-12 | 3,079,325 | 990,184 | 2,089,141 | 12/31/2022 | T-12 | 95.0% | 3,125,275 | 923,615 | 2,201,660 | 15,608 | 82,867 | 2,103,184 | 1.55 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | T-12 | 2,896,983 | 1,144,861 | 1,752,122 | 12/31/2022 | T-12 | 87.8% | 3,223,427 | 1,240,524 | 1,982,903 | 60,714 | 91,740 | 1,830,450 | 1.58 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAV | NAV | NAV | NAV | NAV | NAV | 96.9% | 2,025,647 | 247,842 | 1,777,806 | 13,000 | 0 | 1,764,806 | 1.87 |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | T-12 | NAV | NAV | NAV | NAV | NAV | 93.2% | 3,536,431 | 1,628,521 | 1,907,910 | 118,800 | 0 | 1,789,110 | 1.56 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | T-12 | 1,382,341 | 432,862 | 949,478 | 12/31/2022 | T-12 | 95.0% | 2,081,549 | 596,907 | 1,484,642 | 44,370 | 0 | 1,440,272 | 1.31 |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | T-12 | 1,667,056 | 442,671 | 1,224,385 | 12/31/2022 | T-12 | 95.0% | 1,804,007 | 464,929 | 1,339,078 | 20,180 | 54,635 | 1,264,264 | 1.44 |
| 17.01 | Property | 1 | Kenton Place | T-12 | 796,648 | 252,060 | 544,588 | 12/31/2022 | T-12 | 95.0% | 850,437 | 247,044 | 603,393 | 12,462 | 27,798 | 563,133 | ||
| 17.02 | Property | 1 | Mint Hill Village | T-12 | 438,845 | 102,587 | 336,258 | 12/31/2022 | T-12 | 95.0% | 458,389 | 110,491 | 347,899 | 3,368 | 14,214 | 330,316 | ||
| 17.03 | Property | 1 | Market Square II | T-12 | 235,931 | 48,570 | 187,360 | 12/31/2022 | T-12 | 95.0% | 294,349 | 62,813 | 231,536 | 1,500 | 7,238 | 222,798 | ||
| 17.04 | Property | 1 | Charlotte Auto | T-12 | 195,632 | 39,454 | 156,178 | 12/31/2022 | T-12 | 95.0% | 200,832 | 44,581 | 156,251 | 2,850 | 5,385 | 148,016 | ||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | T-12 | 5,912,190 | 4,130,956 | 1,781,234 | 12/31/2022 | T-12 | 70.6% | 6,527,426 | 4,407,413 | 2,120,013 | 261,097 | 0 | 1,858,916 | 2.09 |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | T-12 | 5,630,452 | 3,884,252 | 1,746,200 | 12/31/2022 | T-12 | 95.0% | 6,092,209 | 4,064,332 | 2,027,877 | 10,000 | 0 | 2,017,877 | 1.88 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | T-12 | 1,309,042 | 348,579 | 960,463 | 12/31/2022 | T-12 | 95.0% | 1,668,952 | 417,670 | 1,251,282 | 37,760 | 0 | 1,213,522 | 1.30 |
| 21 | Loan | 19 | 1 | Orange Blossom Center | T-12 | 2,504,875 | 778,329 | 1,726,546 | 12/31/2022 | T-12 | 82.5% | 2,489,786 | 914,713 | 1,575,073 | 52,846 | 160,588 | 1,361,639 | 2.11 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 1,085,623 | 113,545 | 972,079 | 9,500 | 0 | 962,579 | 1.37 |
| 23 | Loan | 27 | 1 | Oakwood Square | T-12 | 1,319,069 | 338,620 | 980,449 | 12/31/2022 | T-12 | 95.0% | 1,778,928 | 514,905 | 1,264,023 | 24,541 | 82,538 | 1,156,943 | 1.51 |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | T-12 | 1,055,626 | 325,803 | 729,823 | 12/31/2022 | T-12 | 95.0% | 1,386,345 | 366,493 | 1,019,851 | 26,976 | 0 | 992,875 | 1.31 |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | T-12 | NAV | NAV | NAV | NAV | NAV | 95.0% | 1,338,237 | 386,741 | 951,495 | 32,200 | 0 | 919,295 | 1.33 |
| 26 | Loan | 1 | CT Self Storage - Fullerton | T-12 | 2,109,047 | 514,953 | 1,594,094 | 12/31/2022 | T-12 | 92.7% | 2,229,433 | 526,856 | 1,702,577 | 10,100 | 0 | 1,692,477 | 3.28 | |
| 27 | Loan | 1 | Summerfield Apartments | T-12 | 728,730 | 373,838 | 354,892 | 12/31/2022 | T-10 | 93.5% | 1,097,533 | 472,018 | 625,515 | 27,500 | 0 | 598,015 | 1.40 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% | 968,727 | 284,610 | 684,118 | 4,800 | 33,905 | 645,412 | 1.74 |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | T-12 | 744,588 | 160,915 | 583,673 | 12/31/2022 | T-12 | 85.6% | 862,893 | 208,656 | 654,237 | 6,800 | 0 | 647,437 | 1.58 |
| 29.01 | Property | 1 | Eagle Trace MHC | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 29.02 | Property | 1 | Edgewood MHC | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | T-12 | 1,813,818 | 786,844 | 1,026,973 | 12/31/2022 | T-12 | 92.3% | 1,880,896 | 867,503 | 1,013,393 | 8,784 | 0 | 1,004,609 | 3.40 |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens- Ooltewah | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 376,289 | 11,289 | 365,000 | 0 | 0 | 365,000 | 1.47 |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 351,546 | 10,546 | 341,000 | 0 | 0 | 341,000 | 1.45 |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 339,485 | 10,185 | 329,300 | 0 | 0 | 329,300 | 1.49 |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | T-12 | 1,794,182 | 576,510 | 1,217,673 | 12/31/2022 | T-12 | 91.7% | 1,891,546 | 596,275 | 1,295,271 | 7,618 | 0 | 1,287,654 | 7.43 |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 106,561 | 3,197 | 103,364 | 0 | 0 | 103,364 | 1.43 |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 100,529 | 3,016 | 97,513 | 0 | 0 | 97,513 | 1.41 |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAV | NAV | NAV | NAV | NAV | NAV | 100.0% | 88,378 | 2,651 | 85,727 | 0 | 0 | 85,727 | 1.46 |
| A-1-6 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten NCF DSCR (x) | Underwritten NOI Debt Yield (%) | Underwritten NCF Debt Yield (%) | Appraised Value ($) | Appraised Value Type | Appraisal Date | Cut-off Date LTV Ratio (%) | LTV Ratio at Maturity / ARD (%) | Leased Occupancy (%) | Occupancy Date | Single Tenant (Y/N) | Largest Tenant |
| 7, 14 | 7 | 7 | 5 | 5 | 5, 7 | 5, 7 | 3, 4 | 22, 23 | ||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 2.73 | 16.2% | 16.2% | 775,900,000 | As Is | 5/6/2024 | 34.5% | 34.5% | 100.0% | 6/24/2024 | No | Chedraui USA |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 1.77 | 12.6% | 12.3% | 315,000,000 | As Is | 5/29/2024 | 57.1% | 57.1% | 88.8% | 7/17/2024 | No | Bloomingdale's |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 2.09 | 13.3% | 12.6% | 753,700,000 | As Is | 3/21/2024 | 47.8% | 47.8% | 93.9% | 6/1/2024 | No | Nordstrom |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 3.76 | 24.2% | 21.2% | 318,800,000 | As Is | 6/4/2024 | 39.2% | 39.2% | 63.2% | 4/30/2024 | NAP | NAP |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 1.59 | 12.1% | 11.8% | 86,300,000 | As Is | 5/3/2024 | 60.8% | 60.8% | 96.7% | 6/1/2024 | No | Pinnacle Bank |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 2.46 | 17.0% | 16.2% | 636,500,000 | As Is | 4/27/2024 | 37.2% | 37.2% | 91.1% | 3/31/2024 | No | Goetz, Inc. |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 2.16 | 17.0% | 14.6% | 165,500,000 | As Is | 5/17/2024 | 66.5% | 66.5% | 78.9% | 5/31/2024 | NAP | NAP |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 1.42 | 9.6% | 9.6% | 59,800,000 | As Is | 5/29/2024 | 58.5% | 58.5% | 100.0% | 7/24/2024 | Yes | Dollar General |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 1.30 | 11.0% | 10.6% | 48,330,000 | As Is | 8/15/2023 | 67.0% | 58.9% | 98.3% | 2/26/2024 | No | Kohl's |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 1.50 | 14.2% | 12.0% | 49,800,000 | As Is | 4/18/2024 | 57.2% | 49.9% | 58.5% | 4/30/2024 | NAP | NAP |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 2.20 | 16.8% | 14.9% | 42,200,000 | As Is (Extraordinary Assumption) | 4/25/2024 | 52.1% | 52.1% | 80.1% | 4/30/2024 | NAP | NAP |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 1.48 | 11.3% | 10.8% | 33,000,000 | As Is | 7/2/2024 | 59.1% | 59.1% | 100.0% | 7/16/2024 | No | LA Fitness |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 1.46 | 11.0% | 10.2% | 29,300,000 | As Is | 6/21/2024 | 61.4% | 61.4% | 91.0% | 7/16/2024 | No | Price Chopper |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 1.85 | 11.5% | 11.4% | 26,300,000 | As Is | 6/4/2024 | 58.9% | 58.9% | 90.4% | 7/11/2024 | NAP | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 1.46 | 13.5% | 12.6% | 26,370,000 | As Is | 3/21/2024 | 53.8% | 47.9% | 93.9% | 6/13/2024 | NAP | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 1.27 | 10.5% | 10.2% | 25,300,000 | As Portfolio | 5/30/2024 | 55.7% | 48.7% | 100.0% | 6/1/2024 | NAP | NAP |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 1.36 | 10.1% | 9.6% | 20,700,000 | As Is | Various | 63.8% | 63.8% | 99.3% | 7/15/2024 | ||
| 17.01 | Property | 1 | Kenton Place | 10,100,000 | As Is | 6/1/2024 | 98.3% | 7/15/2024 | No | Core Fitness | ||||||
| 17.02 | Property | 1 | Mint Hill Village | 4,950,000 | As Is | 5/16/2024 | 100.0% | 7/15/2024 | No | Raejax Fitness | ||||||
| 17.03 | Property | 1 | Market Square II | 3,200,000 | As Is | 5/16/2024 | 100.0% | 7/15/2024 | No | Allen Tate Realtors | ||||||
| 17.04 | Property | 1 | Charlotte Auto | 2,450,000 | As Is | 5/19/2024 | 100.0% | 7/15/2024 | No | Tuffy Tire & Auto Service | ||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 1.83 | 16.6% | 14.5% | 28,000,000 | As Is (Extraordinary Assumption) | 4/15/2024 | 45.7% | 39.8% | 70.6% | 4/30/2024 | NAP | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 1.87 | 15.9% | 15.8% | 28,000,000 | As Is | 4/8/2024 | 45.5% | 36.4% | 98.5% | 6/1/2024 | NAP | NAP |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 1.26 | 10.3% | 10.0% | 21,000,000 | As Portfolio | 5/12/2024 | 57.7% | 50.3% | 100.0% | 5/1/2024 | NAP | NAP |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 1.82 | 14.3% | 12.4% | 24,800,000 | As Is | 5/21/2024 | 44.4% | 44.4% | 82.8% | 6/26/2024 | No | Xavi Supermarket, LLC |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 1.35 | 8.8% | 8.8% | 15,200,000 | As Is | 6/5/2024 | 72.4% | 72.4% | 100.0% | 6/20/2024 | NAP | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | 1.38 | 12.1% | 11.1% | 16,500,000 | As Is | 5/23/2024 | 63.3% | 55.3% | 100.0% | 7/14/2024 | No | Discount Drug Mart |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 1.28 | 10.4% | 10.1% | 17,000,000 | As Portfolio | 6/10/2024 | 57.7% | 50.2% | 100.0% | 6/1/2024 | NAP | NAP |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 1.28 | 10.5% | 10.1% | 16,200,000 | As Portfolio | 5/12/2024 | 56.0% | 48.8% | 100.0% | 6/1/2024 | NAP | NAP |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 3.26 | 18.9% | 18.8% | 27,500,000 | As Is | 5/7/2024 | 32.7% | 32.7% | 93.5% | 5/31/2024 | NAP | NAP | |
| 27 | Loan | 1 | Summerfield Apartments | 1.34 | 10.0% | 9.6% | 10,200,000 | As Is | 6/7/2024 | 61.1% | 61.1% | 96.4% | 6/30/2024 | NAP | NAP | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 1.64 | 11.4% | 10.8% | 9,100,000 | As Is | 4/30/2024 | 65.9% | 65.9% | 100.0% | 5/23/2024 | No | Chugach Alaska Corporation |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 1.56 | 11.4% | 11.3% | 9,000,000 | As Is | 7/9/2024 | 63.9% | 63.9% | 86.0% | 7/15/2024 | ||
| 29.01 | Property | 1 | Eagle Trace MHC | 7,800,000 | As Is | 7/9/2024 | 94.4% | 7/15/2024 | NAP | NAP | ||||||
| 29.02 | Property | 1 | Edgewood MHC | 1,200,000 | As Is | 7/9/2024 | 55.2% | 7/15/2024 | NAP | NAP | ||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 3.37 | 20.3% | 20.1% | 16,800,000 | As Is | 5/9/2024 | 29.8% | 29.8% | 94.5% | 5/31/2024 | NAP | NAP |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | 1.47 | 10.1% | 10.1% | 5,850,000 | As Is | 3/31/2023 | 61.5% | 61.5% | 100.0% | 7/22/2024 | Yes | Walgreens |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 1.45 | 10.0% | 10.0% | 5,450,000 | As Is | 3/28/2023 | 62.4% | 62.4% | 100.0% | 7/22/2024 | Yes | Walgreens |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 1.49 | 10.3% | 10.3% | 5,275,000 | As Is | 3/27/2023 | 60.7% | 60.7% | 100.0% | 7/22/2024 | Yes | Walgreens |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 7.39 | 43.2% | 42.9% | 17,500,000 | As Is | 5/7/2024 | 17.1% | 17.1% | 92.4% | 5/31/2024 | NAP | NAP |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 1.43 | 9.8% | 9.8% | 1,875,000 | As Is | 3/24/2023 | 56.0% | 56.0% | 100.0% | 7/22/2024 | Yes | Dollar General |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 1.41 | 9.8% | 9.8% | 1,775,000 | As Is | 3/24/2023 | 56.3% | 56.3% | 100.0% | 7/22/2024 | Yes | Dollar General |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 1.46 | 10.1% | 10.1% | 1,550,000 | As Is | 3/18/2023 | 54.8% | 54.8% | 100.0% | 7/22/2024 | Yes | Dollar General |
| A-1-7 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Largest Tenant SF | Largest Tenant % of NRA | Largest Tenant Lease Expiration Date | Second Largest Tenant | Second Largest Tenant SF | Second Largest Tenant % of NRA | Second Largest Tenant Lease Expiration Date | Third Largest Tenant | Third Largest Tenant SF | Third Largest Tenant % of NRA | Third Largest Tenant Lease Expiration Date |
| 23 | 23 | 23 | 23 | 23 | |||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 1,422,524 | 65.6% | 1/31/2044 | CEVA Logistics | 745,595 | 34.4% | 4/30/2034 | NAP | NAP | NAP | NAP |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 265,148 | 31.9% | 9/30/2028 | Grosvenor Capital Mgmnt, L.P. | 72,738 | 8.7% | 9/30/2037 | Walton Street Capital LLC | 30,304 | 3.6% | 8/31/2029 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 123,000 | 12.0% | 2/28/2030 | Dick's Clothing & Sporting Goods | 66,000 | 6.5% | 1/31/2026 | Restoration Hardware | 48,697 | 4.8% | 1/31/2037 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 22,654 | 14.8% | 4/30/2038 | Morgan Stanley Smith Barney Financing, LLC | 15,190 | 9.9% | 2/28/2034 | Parker Poe Adams & Bernstein LLP | 14,677 | 9.6% | 10/31/2033 |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 36,653 | 1.3% | 9/30/2025 | Diverse Marketing | 34,747 | 1.3% | 10/31/2024 | K. Graves & A. Graves, Inc. | 34,517 | 1.3% | 11/30/2026 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 1,128,300 | 100.0% | 6/30/2042 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 86,584 | 33.3% | 1/31/2033 | Burlington Coat Factory | 70,000 | 26.9% | 2/28/2029 | JoAnn Stores | 37,113 | 14.3% | 1/31/2035 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 42,141 | 50.9% | 6/30/2036 | Cooper's Hawk Winery & Restaurant | 11,000 | 13.3% | 12/31/2028 | PXG Golf | 6,296 | 7.6% | 4/30/2028 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 64,736 | 35.3% | 5/31/2028 | Ace Hardware | 21,000 | 11.4% | 10/31/2025 | Missie's Discount Liquors, LLC | 11,480 | 6.3% | 1/31/2030 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | |||||||||||
| 17.01 | Property | 1 | Kenton Place | 6,377 | 16.7% | 4/30/2027 | Osaka Restaurant | 3,132 | 8.2% | 12/31/2028 | Alphagraphics | 2,600 | 6.8% | 2/28/2026 | |
| 17.02 | Property | 1 | Mint Hill Village | 3,024 | 14.9% | 9/30/2028 | Nano ProMT | 2,731 | 13.5% | 6/30/2027 | UPS Store | 1,995 | 9.8% | 2/28/2027 | |
| 17.03 | Property | 1 | Market Square II | 3,000 | 30.0% | 5/31/2027 | Fred Astaire Dance | 2,000 | 20.0% | 5/31/2027 | Any Lab Test | 1,250 | 12.5% | 9/30/2027 | |
| 17.04 | Property | 1 | Charlotte Auto | 7,000 | 36.8% | 8/31/2032 | Aamco | 6,000 | 31.6% | 3/31/2025 | Napa | 6,000 | 31.6% | 2/28/2029 | |
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 19,494 | 12.2% | 12/31/2033 | Dollar Tree Stores, Inc. | 18,666 | 11.7% | 9/30/2033 | Citi Trends | 13,031 | 8.2% | 12/31/2030 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | 27,500 | 22.4% | 3/31/2034 | KSA Fitness / Anytime Fitness | 8,870 | 7.2% | 5/31/2030 | Jason's Place Inc | 7,200 | 5.9% | 3/31/2025 |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 1 | CT Self Storage - Fullerton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 27 | Loan | 1 | Summerfield Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 29,038 | 60.5% | 12/31/2027 | Platt Electrical Supply | 18,962 | 39.5% | 12/31/2027 | NAP | NAP | NAP | NAP |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | |||||||||||
| 29.01 | Property | 1 | Eagle Trace MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 29.02 | Property | 1 | Edgewood MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens- Ooltewah | 14,550 | 100.0% | 1/31/2033 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 14,550 | 100.0% | 10/31/2032 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 14,820 | 100.0% | 8/31/2032 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 9,026 | 100.0% | 4/30/2032 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 9,100 | 100.0% | 1/31/2032 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 9,026 | 100.0% | 11/30/2031 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-8 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Fourth Largest Tenant | Fourth Largest Tenant SF | Fourth Largest Tenant % of NRA | Fourth Largest Tenant Lease Expiration Date | Fifth Largest Tenant | Fifth Largest Tenant SF | Fifth Largest Tenant % of NRA | Fifth Largest Tenant Lease Expiration Date | Environmental Phase I Report Date | Environmental Phase II Report Date | Engineering Report Date | Seismic Report Date |
| 23 | 23 | 23 | ||||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/28/2024 | NAP | 5/16/2024 | 5/20/2024 |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | Equinox | 30,021 | 3.6% | 6/30/2028 | JMB Insurance Agency | 24,246 | 2.9% | 6/30/2037 | 6/7/2024 | NAP | 6/13/2024 | NAP |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Jo-Ann Fabrics | 35,000 | 3.4% | 1/31/2026 | Ross Dress For Less | 30,187 | 3.0% | 1/31/2026 | 4/4/2024 | NAP | 4/4/2024 | NAP |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/12/2024 | NAP | 6/24/2024 | NAP |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | Burr & Forman LLP | 12,125 | 7.9% | 4/30/2035 | McMillan Pazdan Smith, LLC | 11,871 | 7.7% | 2/28/2030 | 5/7/2024 | NAP | 5/7/2024 | NAP |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | OneCoast, LLC | 31,764 | 1.2% | 3/31/2031 | Paul Michael Company | 29,480 | 1.1% | 10/31/2025 | 5/15/2024 | NAP | 5/15/2024 | NAP |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/4/2024 | NAP | 4/9/2024 | 4/9/2024 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/31/2024 | NAP | 5/31/2024 | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | LL Bean | 16,149 | 6.2% | 9/30/2024 | Haluwa Restaurant | 6,800 | 2.6% | 6/30/2027 | 8/23/2023 | NAP | 8/22/2023 | NAP |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/29/2024 | NAP | 4/29/2024 | NAP |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/8/2024 | NAP | 5/8/2024 | NAP |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | Genesis Diamonds | 4,485 | 5.4% | 10/31/2029 | Yardbird Furniture | 3,904 | 4.7% | 7/31/2028 | 6/26/2024 | NAP | 6/26/2024 | NAP |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | Naomi's Hallmark | 8,200 | 4.5% | 5/31/2029 | The Big Biscuit | 4,500 | 2.5% | 7/31/2026 | 6/24/2024 | NAP | 6/24/2024 | NAP |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/13/2024 | NAP | 6/13/2024 | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 3/28/2024 | NAP | 3/28/2024 | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/14/2024 | NAP | 6/14/2024 | NAP |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | ||||||||||||
| 17.01 | Property | 1 | Kenton Place | Kenton Keyman Center | 2,018 | 5.3% | 11/30/2024 | Clean Eatz | 2,008 | 5.2% | 8/31/2027 | 5/20/2024 | NAP | 5/20/2024 | NAP | |
| 17.02 | Property | 1 | Mint Hill Village | Royal Kartier Beauty Spa | 1,477 | 7.3% | 7/31/2027 | Pour 64 | 1,390 | 6.9% | 12/31/2026 | 5/20/2024 | NAP | 5/20/2024 | NAP | |
| 17.03 | Property | 1 | Market Square II | Navy Recruiting Center | 1,250 | 12.5% | 9/29/2028 | Jin Jin Restaurant | 1,250 | 12.5% | 8/31/2033 | 5/20/2024 | NAP | 5/20/2024 | NAP | |
| 17.04 | Property | 1 | Charlotte Auto | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/20/2024 | NAP | 5/20/2024 | NAP | |
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/30/2024 | NAP | 4/30/2024 | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/17/2024 | NAP | 4/17/2024 | 4/17/2024 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/29/2024 | NAP | 5/28/2024 | NAP |
| 21 | Loan | 19 | 1 | Orange Blossom Center | Orange County Library System | 12,750 | 8.0% | 11/30/2026 | Family Dollar | 7,500 | 4.7% | 12/31/2028 | 5/24/2024 | NAP | 5/24/2024 | NAP |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 2/12/2024 | NAP | 6/11/2024 | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | Spider Monkey Brewing Co | 6,839 | 5.6% | 12/31/2025 | Mercy Medical Center | 6,500 | 5.3% | 11/13/2028 | 6/14/2024 | NAP | 6/14/2024 | NAP |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/21/2024 | NAP | 6/21/2024 | NAP |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/5/2024 | NAP | 6/5/2024 | NAP |
| 26 | Loan | 1 | CT Self Storage - Fullerton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/16/2024 | NAP | 5/16/2024 | 5/16/2024 | |
| 27 | Loan | 1 | Summerfield Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 6/20/2024 | NAP | 6/20/2024 | NAP | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 3/7/2024 | NAP | 3/7/2024 | 4/2/2024 |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | ||||||||||||
| 29.01 | Property | 1 | Eagle Trace MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/16/2024 | NAP | 7/16/2024 | NAP | |
| 29.02 | Property | 1 | Edgewood MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 7/16/2024 | NAP | 7/17/2024 | NAP | |
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/15/2024 | NAP | 5/16/2024 | 5/16/2024 |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/4/2023 | NAP | 11/24/2012 | NAP |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/4/2023 | NAP | 1/15/2013 | NAP |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/4/2023 | NAP | 12/5/2012 | NAP |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 5/16/2024 | NAP | 5/16/2024 | 5/16/2024 |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/4/2023 | NAP | 4/13/2012 | NAP |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 3/31/2023 | NAP | 4/13/2012 | NAP |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | 4/5/2023 | NAP | 3/15/2012 | NAP |
| A-1-9 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | PML or SEL (%) | Flood Zone | Ownership Interest | Ground Lease Expiration Date | Ground Lease Extension Terms | Annual Ground Lease Payment as of the Cut-off Date ($) | Annual Ground Rent Increases (Y/N) | Upfront RE Tax Reserve ($) | Monthly RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Monthly Insurance Reserve ($) |
| 17 | 17 | 17 | 17 | 17 | 18 | 19 | 18 | 19 | |||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 6% | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | NAP | No | Fee | NAP | NAP | NAP | NAP | 2,586,212 | 1,293,106 | 0 | Springing |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | NAP | No | Fee / Leasehold | 7/30/2057 | None | 100 | No | 0 | Springing | 0 | Springing |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 344,169 | 49,167 | 0 | Springing |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 1,264,708 | 210,785 | 0 | Springing |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 10% | No | Leasehold | 6/30/2067 | 1, 10-year option or 1, 20-year option | 3,887,227 | No | 0 | Springing | 0 | Springing |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | NAP | No | Fee | NAP | NAP | NAP | NAP | 211,354 | 45,946 | 99,951 | Springing |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | NAP | No | Fee | NAP | NAP | NAP | NAP | 93,496 | 31,165 | 154,628 | 19,960 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | NAP | No | Fee | NAP | NAP | NAP | NAP | 89,062 | 44,531 | 0 | Springing |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | NAP | No | Fee | NAP | NAP | NAP | NAP | 93,969 | 46,985 | 0 | Springing |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | NAP | No | Fee | NAP | NAP | NAP | NAP | 200,747 | 66,916 | 0 | Springing |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAP | No | Fee | NAP | NAP | NAP | NAP | 1,048 | 524 | 9,615 | 2,404 |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | NAP | No | Fee | NAP | NAP | NAP | NAP | 57,607 | 28,804 | 109,240 | 13,655 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | No | Fee | NAP | NAP | NAP | NAP | 100,038 | 14,291 | 0 | Springing |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 74,658 | 9,332 | 0 | Springing | |||||||
| 17.01 | Property | 1 | Kenton Place | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 17.02 | Property | 1 | Mint Hill Village | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 17.03 | Property | 1 | Market Square II | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 17.04 | Property | 1 | Charlotte Auto | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | NAP | No | Fee | NAP | NAP | NAP | NAP | 47,293 | 15,764 | 68,121 | 5,677 |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 14% | No | Leasehold | 4/30/2045 | None | 2,885,130 | No | 97,567 | 12,196 | 8,897 | 8,897 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | No | Fee | NAP | NAP | NAP | NAP | 55,126 | 7,875 | 0 | Springing |
| 21 | Loan | 19 | 1 | Orange Blossom Center | NAP | No | Fee | NAP | NAP | NAP | NAP | 247,978 | 24,798 | 55,749 | 18,583 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | No | Fee | NAP | NAP | NAP | NAP | 143 | 71 | 10,050 | 1,675 |
| 23 | Loan | 27 | 1 | Oakwood Square | NAP | No | Fee | NAP | NAP | NAP | NAP | 15,717 | 7,859 | 0 | Springing |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | No | Fee | NAP | NAP | NAP | NAP | 76,864 | 9,608 | 0 | Springing |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | No | Fee | NAP | NAP | NAP | NAP | 65,687 | 9,384 | 0 | Springing |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 12% | No | Fee | NAP | NAP | NAP | NAP | 48,164 | 6,881 | 0 | Springing | |
| 27 | Loan | 1 | Summerfield Apartments | NAP | No | Fee | NAP | NAP | NAP | NAP | 99,805 | 14,258 | 13,967 | 3,203 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 13% | No | Fee | NAP | NAP | NAP | NAP | 8,637 | 4,318 | 0 | Springing |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 16,216 | 1,802 | 8,090 | 2,697 | |||||||
| 29.01 | Property | 1 | Eagle Trace MHC | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 29.02 | Property | 1 | Edgewood MHC | NAP | No | Fee | NAP | NAP | NAP | NAP | |||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 13% | No | Leasehold | 4/21/2057 | None | 288,000 | No | 53,234 | 7,605 | 0 | Springing |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAP | No | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAP | Yes - AE | Fee | NAP | NAP | NAP | NAP | 0 | Springing | 0 | Springing |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 15% | No | Leasehold | 10/1/2048 | None | 79,707 | No | 46,491 | 6,642 | 0 | Springing |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAP | No | Fee | NAP | NAP | NAP | NAP | 14,994 | 1,660 | 0 | Springing |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAP | No | Fee | NAP | NAP | NAP | NAP | 14,303 | 1,589 | 0 | Springing |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAP | No | Fee | NAP | NAP | NAP | NAP | 15,372 | 1,708 | 0 | Springing |
| A-1-10 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront Replacement / PIP Reserve ($) | Monthly Replacement / FF&E Reserve ($) | Replacement Reserve Caps ($) | 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 ($) |
| 18 | 19 | 20 | 18 | 19 | 20 | 18 | 19 | 20 | 18 | 18 | 19 | |||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 0 | 0 | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 380,631 | 0 |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 0 | 18,705 | 831,350 | 5,000,000 | 166,667 | 10,000,000 | 0 | 0 | 0 | 0 | 13,552,345 | Springing |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 0 | Springing | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 9,788,217 | 0 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 0 | 3.0% of Gross Revenue | 0 | 0 | 0 | 0 | 0 | Springing | 0 | 0 | 650,000 | Springing |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 0 | 2,558 | 122,807 | 0 | 20,833 | 0 | 0 | 0 | 0 | 0 | 4,623,709 | 0 |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 1,000,000 | Springing | 1,000,000 | 1,500,000 | Springing | 1,500,000 | 0 | 0 | 0 | 0 | 431,802 | 0 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 0 | Springing | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 0 | 3,248 | 0 | 1,400,000 | Springing | 0 | 0 | 0 | 0 | 6,240 | 124,119 | Springing |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 0 | 52,172 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 0 | 33,074 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22,000 | 2,193,856 | Springing |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 0 | 1,301 | 0 | 0 | 6,906 | 414,360 | 0 | 0 | 0 | 0 | 886,080 | Springing |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 0 | 5,059 | 0 | 250,000 | 7,644 | 450,000 | 0 | 0 | 0 | 0 | 85,597 | 0 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 0 | 1,083 | 0 | 0 | 0 | 0 | 252,274 | 0 | 0 | 6,250 | 232,224 | 0 |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 0 | 9,900 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 0 | 3,698 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 44,000 | 0 |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 0 | 1,682 | 0 | 100,000 | 5,472 | 0 | 0 | 0 | 0 | 17,375 | 12,058 | Springing |
| 17.01 | Property | 1 | Kenton Place | |||||||||||||
| 17.02 | Property | 1 | Mint Hill Village | |||||||||||||
| 17.03 | Property | 1 | Market Square II | |||||||||||||
| 17.04 | Property | 1 | Charlotte Auto | |||||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 0 | 21,758 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,600,000 | Springing |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 0 | 833 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 250,000 | 0 |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 0 | 3,147 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36,000 | 0 |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 0 | 4,404 | 0 | 0 | Springing | 0 | 0 | 0 | 0 | 272,750 | 333,606 | 0 |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 0 | 792 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 23 | Loan | 27 | 1 | Oakwood Square | 0 | 2,045 | 100,000 | 300,000 | Springing | 300,000 | 0 | 0 | 0 | 0 | 283,504 | Springing |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 0 | 2,248 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29,000 | 0 |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 0 | 2,683 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31,000 | 0 |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 27 | Loan | 1 | Summerfield Apartments | 0 | 2,292 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 91,438 | 0 | 0 | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 0 | 400 | 14,400 | 0 | 0 | 0 | 0 | 0 | 0 | 303,545 | 0 | 0 |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 0 | 567 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70,000 | 0 | 0 |
| 29.01 | Property | 1 | Eagle Trace MHC | |||||||||||||
| 29.02 | Property | 1 | Edgewood MHC | |||||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Springing |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| A-1-11 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Description |
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | Existing TI/LC Obligations Reserve |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | Unfunded Obligations Reserve (Upfront: $13,552,345.23), Critical Tenant Reserve (Monthly: Springing) |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Outstanding TI/LC Reserve ($8,393,631), Gap Rent Reserve ($1,394,586) |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Seasonal Working Capital Reserve (Upfront: $650,000, Monthly: Springing, Cap: $3,250,000), Custodial Funds and Hotel Tax Reserve (Monthly: Springing), Refundable Advance Payments Reserve (Monthly: Springing, Annual Cap: $75,000), PIP Reserve (Monthly: Springing) |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | Unfunded Obligations Reserve |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | Unfunded Obligations Reserve |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | Ground Rent Reserve |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | Material Tenant Reserve |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | TATILC Funds (Upfront: $124,118.87), Material Tenant Funds Reserve (Monthly: Springing) |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | PIP Reserve |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | LA Fitness Gap Rent Reserve (Upfront: $850,200), Existing TI/LC Reserve (Upfront: $35,880), LA Fitness Reserve (Monthly: Springing; Cap: $1,000,000) |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | Rent Concession Reserve ($35,596.64), Existing TI/LC Reserve ($50,000) |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | Rent Reserve ($148,224), Commercial Rent Reserve ($84,000) |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | ||
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | Static Insurance Reserve |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | Free Rent Reserve (Upfront: $12,057.99), Excess Cash Reserve (Monthly: Springing) |
| 17.01 | Property | 1 | Kenton Place | ||
| 17.02 | Property | 1 | Mint Hill Village | ||
| 17.03 | Property | 1 | Market Square II | ||
| 17.04 | Property | 1 | Charlotte Auto | ||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | PIP Reserve |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | Ground Rent Reserve |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | Static Insurance Reserve |
| 21 | Loan | 19 | 1 | Orange Blossom Center | Unfunded TI/LC Reserve ($123,420), Groundwater Monitoring Reserve ($75,000), Hibbett Litigation Reserve ($69,389.46), Rent Concession Reserve ($37,800), Hibbett Rent Credit Reserve ($22,083), HAFTR Judgment Reserve ($5,913.14) |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | |
| 23 | Loan | 27 | 1 | Oakwood Square | Unfunded Obligations Reserve (Upfront: $283,504), Discount Drug Mart Account Reserve (Monthly: Springing) |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | Static Insurance Reserve |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | Static Insurance Reserve |
| 26 | Loan | 1 | CT Self Storage - Fullerton | ||
| 27 | Loan | 1 | Summerfield Apartments | ||
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | |
| 29.01 | Property | 1 | Eagle Trace MHC | ||
| 29.02 | Property | 1 | Edgewood MHC | ||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | Ground Lease Reserve |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | Ground Lease Reserve |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma |
| A-1-12 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Other Reserve Cap ($) | Holdback/ Earnout Amount ($) | Holdback/ Earnout Description | Lockbox Type | Cash Management | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Tenant Specific Excess Cash Trap Trigger (Y/N) | Pari Passu (Y/N) |
| 20 | 26 | |||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 0 | NAP | NAP | Hard | Springing | Yes | Yes | Yes |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 0 | NAP | NAP | Hard | Springing | Yes | No | Yes |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Seasonal Working Capital Reserve ($3,250,000); Refundable Advance Payments Reserve (Annual: $75,000) | NAP | NAP | Hard | Springing | Yes | No | Yes |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 0 | NAP | NAP | Hard | Springing | Yes | No | No |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 0 | NAP | NAP | Hard | In Place | Yes | No | Yes |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 0 | NAP | NAP | Soft | Springing | Yes | No | Yes |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 2,000,000 | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 0 | NAP | NAP | Hard | Springing | Yes | No | No |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | LA Fitness Reserve ($1,000,000) | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 0 | NAP | NAP | Springing | Springing | Yes | No | No | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 17.01 | Property | 1 | Kenton Place | |||||||||
| 17.02 | Property | 1 | Mint Hill Village | |||||||||
| 17.03 | Property | 1 | Market Square II | |||||||||
| 17.04 | Property | 1 | Charlotte Auto | |||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 0 | NAP | NAP | Hard | Springing | Yes | No | No |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 21 | Loan | 19 | 1 | Orange Blossom Center | 0 | NAP | NAP | Springing | Springing | Yes | Yes | No |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 23 | Loan | 27 | 1 | Oakwood Square | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 26 | Loan | 1 | CT Self Storage - Fullerton | 0 | NAP | NAP | Springing | Springing | No | No | No | |
| 27 | Loan | 1 | Summerfield Apartments | 0 | NAP | NAP | Springing | Springing | Yes | No | No | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | 0 | NAP | NAP | Hard | Springing | Yes | Yes | No |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | 0 | NAP | NAP | Springing | Springing | Yes | No | No |
| 29.01 | Property | 1 | Eagle Trace MHC | |||||||||
| 29.02 | Property | 1 | Edgewood MHC | |||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | 0 | NAP | NAP | Springing | Springing | No | No | No |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | 0 | NAP | NAP | Springing | Springing | No | No | No |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | 0 | NAP | NAP | Hard | In Place | No | Yes | No |
| A-1-13 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | 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 ($) | Whole Loan Monthly Debt Service ($) | Whole Loan Cut-off Date LTV Ratio (%) |
| 9 | 9 | 9 | ||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | No | 80,000,000.00 | 187,610,000.00 | 924,622.64 | 1,318,896.99 | 162,390,000 | 6.68009948845372% | 430,000,000 | 2,235,436.79 | 55.4% |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | Yes | 80,000,000.00 | 100,000,000.00 | 579,015.04 | 1,042,227.08 | NAP | NAP | 180,000,000 | 1,042,227.08 | 57.1% |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Yes | 78,000,000.00 | 282,000,000.00 | 1,417,193.61 | 1,809,183.33 | NAP | NAP | 360,000,000 | 1,809,183.33 | 47.8% |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Yes | 70,000,000.00 | 55,000,000.00 | 257,907.98 | 586,154.51 | NAP | NAP | 125,000,000 | 586,154.51 | 39.2% |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | No | 50,000,000.00 | 187,000,000.00 | 1,027,300.95 | 1,301,980.35 | NAP | NAP | 237,000,000.00 | 1,301,980.35 | 37.2% |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | No | 45,000,000.00 | 65,000,000.00 | 367,243.23 | 621,488.54 | NAP | NAP | 110,000,000.00 | 621,488.54 | 66.5% |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 17.01 | Property | 1 | Kenton Place | |||||||||||
| 17.02 | Property | 1 | Mint Hill Village | |||||||||||
| 17.03 | Property | 1 | Market Square II | |||||||||||
| 17.04 | Property | 1 | Charlotte Auto | |||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 19 | 1 | Orange Blossom Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 1 | CT Self Storage - Fullerton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 27 | Loan | 1 | Summerfield Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29.01 | Property | 1 | Eagle Trace MHC | |||||||||||
| 29.02 | Property | 1 | Edgewood MHC | |||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-14 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Whole Loan Underwritten NCF DSCR (x) | Whole Loan Underwritten NOI Debt Yield (%) | Mezzanine Debt Cut-off Date Balance($) | Mezzanine Debt Interest Rate (%) | Total Debt Cut-off Date Balance ($) | Total Debt Monthly Debt Service ($) | Total Debt Cut-off Date LTV Ratio (%) | Total Debt Underwritten NCF DSCR (x) | Total Debt Underwritten NOI Debt Yield (%) | Future Additional Debt Permitted (Y/N) | Future Debt Permitted Type |
| 14 | 9 | 14 | 13 | 13 | |||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 1.61 | 10.1% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 1.77 | 12.6% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 2.09 | 13.3% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 3.76 | 24.2% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 2.46 | 17.0% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Unsecured |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 2.16 | 17.0% | NAP | NAP | NAP | NAP | NAP | NAP | NAP | Yes | Future Mezzanine Loan |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 17.01 | Property | 1 | Kenton Place | ||||||||||||
| 17.02 | Property | 1 | Mint Hill Village | ||||||||||||
| 17.03 | Property | 1 | Market Square II | ||||||||||||
| 17.04 | Property | 1 | Charlotte Auto | ||||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 21 | Loan | 19 | 1 | Orange Blossom Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 23 | Loan | 27 | 1 | Oakwood Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 26 | Loan | 1 | CT Self Storage - Fullerton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
| 27 | Loan | 1 | Summerfield Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 29.01 | Property | 1 | Eagle Trace MHC | ||||||||||||
| 29.02 | Property | 1 | Edgewood MHC | ||||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | No | NAP |
| A-1-15 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sponsor | Non-Recourse Carveout Guarantor | Delaware Statutory Trust (Y/N) | Tenants-in-common (Y/N) |
| 24 | ||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | BDP Realty Holdings, L.P. | NAP | No | No |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | JMB Realty Corporation | JMB Realty Corporation | No | No |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Simon Property Group, L.P. | Simon Property Group, L.P. | No | No |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Grossman Company Properties, Inc. | Southwest Recourse III, LLC | No | No |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | Graeme M. Keith, Jr., Kenneth R. Beuley, R. Alan Lewis, Graeme M. Keith, II and Keith Real Estate Associates, LLC | Graeme M. Keith, Jr., Kenneth R. Beuley, R. Alan Lewis and Graeme M. Keith, III | No | No |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | Dallas Market Center Financial, L.L.C. | Dallas Market Center Financial, L.L.C. | No | No |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | JRK Property Holdings, Inc. | JRK Hospitality Fund 1, L.P. | No | No |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | Dennis W. Townsend | Dennis W. Townsend | No | No |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | Edward C. Gordon | Edward C. Gordon | No | No |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | Carey Tajfel | Carey Tajfel | No | No |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | Chatham Lodging Trust | Chatham Lodging, L.P. | No | No |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 | Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 | No | Yes |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 | Alan C. Fox and The Alan C. Fox Revocable Trust (2007 Restatement) U/A/D 11/15/2007 | No | No |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | Boris Babakhanov and Aleksandr Gilkarov | Boris Babakhanov and Aleksandr Gilkarov | No | No |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | Matthew B. Lester | Matthew B. Lester | No | No | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | Youssef Berrada | Youssef Berrada | No | No |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | Christopher Couchell | Christopher Couchell | No | No |
| 17.01 | Property | 1 | Kenton Place | |||||
| 17.02 | Property | 1 | Mint Hill Village | |||||
| 17.03 | Property | 1 | Market Square II | |||||
| 17.04 | Property | 1 | Charlotte Auto | |||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | Joseph C. Knudson | Joseph C. Knudson | No | No |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | Michael H. Scott, Lee M. Kort and Sierra Corporate Management, Inc. | Michael H. Scott, Lee M. Kort and The Michael H. Scott Revocable Trust Dated August 15, 2007 | No | No |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | Youssef Berrada | Youssef Berrada | No | No |
| 21 | Loan | 19 | 1 | Orange Blossom Center | Mark Rubin | Mark Rubin | No | Yes |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | Israel Frankel | Israel Frankel | No | No |
| 23 | Loan | 27 | 1 | Oakwood Square | F. Brock Walter, Jr., Harry W. Giltz II, Harry W. Giltz III and Grant W. Giltz | F. Brock Walter, Jr., Harry W. Giltz II, Harry W. Giltz III and Grant W. Giltz | No | No |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | Youssef Berrada | Youssef Berrada | No | No |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | Youssef Berrada | Youssef Berrada | No | No |
| 26 | Loan | 1 | CT Self Storage - Fullerton | CT Self-Storage Fund II, LLC | CT Self-Storage Fund II, LLC | No | No | |
| 27 | Loan | 1 | Summerfield Apartments | Gary W. Gates, Jr. | Gary W. Gates, Jr. | No | No | |
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | TEI LLC | TEI LLC | No | Yes |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | Harsheel Shah | Harsheel Shah | No | No |
| 29.01 | Property | 1 | Eagle Trace MHC | |||||
| 29.02 | Property | 1 | Edgewood MHC | |||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | CT Self-Storage Fund II, LLC | CT Self-Storage Fund II, LLC | No | No |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | CT Self-Storage Fund II, LLC | CT Self-Storage Fund II, LLC | No | No |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | Ladder Capital CRE Equity LLC | Ladder Capital CRE Equity LLC | No | No |
| A-1-16 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Loan Purpose | Property Located Within a Qualified Opportunity Zone (Y/N) | Sources: Loan Amount ($) | Sources: Principal's New Cash Contribution ($) | Sources: Subordinate Debt ($) | Sources: Other Sources ($) | Sources: Total Sources ($) | Uses: Loan Payoff ($) | Uses: Purchase Price ($) | Uses: Closing Costs ($) | Uses: Reserves ($) | Uses: Principal Equity Distribution ($) | Uses: Other Uses ($) |
| 29 | |||||||||||||||||
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | Refinance | No | 267,610,000 | 0 | 162,390,000 | 0 | 430,000,000 | 308,927,624 | 0 | 2,873,539 | 380,631 | 117,818,206 | 0 |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | Refinance | No | 180,000,000 | 56,362,388 | 0 | 0 | 236,362,388 | 206,807,744 | 0 | 8,416,086 | 21,138,557 | 0 | 0 |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | Refinance | No | 360,000,000 | 5,611,283 | 0 | 0 | 365,611,283 | 351,117,405 | 0 | 4,705,660 | 9,788,217 | 0 | 0 |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | Refinance | No | 125,000,000 | 0 | 0 | 0 | 125,000,000 | 110,983,664 | 0 | 2,074,466 | 650,000 | 11,291,870 | 0 |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | Refinance | No | 52,500,000 | 0 | 0 | 0 | 52,500,000 | 39,056,677 | 0 | 773,290 | 4,967,878 | 7,702,155 | 0 |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | Refinance | No | 237,000,000 | 2,270,000 | 0 | 0 | 239,270,000 | 231,913,303 | 0 | 3,160,187 | 4,196,510 | 0 | 0 |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | Acquisition | No | 110,000,000 | 59,441,997 | 0 | 0 | 169,441,997 | 0 | 165,000,000 | 4,441,997 | 0 | 0 | 0 |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | Refinance | No | 35,000,000 | 0 | 0 | 0 | 35,000,000 | 32,523,915 | 0 | 317,445 | 0 | 2,158,640 | 0 |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | Refinance | No | 32,500,000 | 5,364,299 | 0 | 0 | 37,864,299 | 35,566,478 | 0 | 456,158 | 1,841,663 | 0 | 0 |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | Refinance | No | 28,500,000 | 0 | 0 | 0 | 28,500,000 | 16,791,827 | 0 | 742,664 | 248,124 | 10,717,385 | 0 |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | Refinance | No | 22,000,000 | 8,298,859 | 0 | 0 | 30,298,859 | 27,713,758 | 0 | 280,183 | 2,304,918 | 0 | 0 |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | Refinance | No | 19,500,000 | 3,372,241 | 0 | 0 | 22,872,241 | 21,470,290 | 0 | 421,902 | 980,049 | 0 | 0 |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | Refinance | No | 18,000,000 | 0 | 0 | 0 | 18,000,000 | 16,201,529 | 0 | 625,316 | 536,343 | 636,811 | 0 |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | Refinance | No | 15,500,000 | 0 | 0 | 0 | 15,500,000 | 11,268,032 | 0 | 573,281 | 501,411 | 3,157,277 | 0 |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | Refinance | No | 14,200,000 | 309,333 | 0 | 0 | 14,509,333 | 14,053,387 | 0 | 289,099 | 166,847 | 0 | 0 | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | Refinance | No | |||||||||||
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | Refinance | ||||||||||||
| 17.01 | Property | 1 | Kenton Place | No | |||||||||||||
| 17.02 | Property | 1 | Mint Hill Village | No | |||||||||||||
| 17.03 | Property | 1 | Market Square II | No | |||||||||||||
| 17.04 | Property | 1 | Charlotte Auto | No | |||||||||||||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | Refinance | No | |||||||||||
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | Refinance | No | |||||||||||
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | Refinance | No | |||||||||||
| 21 | Loan | 19 | 1 | Orange Blossom Center | Refinance | No | |||||||||||
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | Refinance | No | |||||||||||
| 23 | Loan | 27 | 1 | Oakwood Square | Refinance | No | |||||||||||
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | Refinance | No | |||||||||||
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | Refinance | No | |||||||||||
| 26 | Loan | 1 | CT Self Storage - Fullerton | Refinance | No | ||||||||||||
| 27 | Loan | 1 | Summerfield Apartments | Refinance | No | ||||||||||||
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | Acquisition | No | |||||||||||
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | Acquisition | ||||||||||||
| 29.01 | Property | 1 | Eagle Trace MHC | No | |||||||||||||
| 29.02 | Property | 1 | Edgewood MHC | No | |||||||||||||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | Refinance | No | |||||||||||
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | Refinance | No | |||||||||||
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | Refinance | No | |||||||||||
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | Refinance | No | |||||||||||
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | Refinance | No | |||||||||||
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | Refinance | No | |||||||||||
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | Refinance | No | |||||||||||
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | Refinance | No |
| A-1-17 |
ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Uses: Total Uses ($) | Franchise Agreement Expiration | Underwritten ADR ($) | 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 (%) |
| 1 | Loan | 7, 12, 16, 23 | 1 | Bridge Point Rancho Cucamonga | 430,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 7, 10, 12, 23 | 1 | 900 North Michigan | 236,362,388 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 1, 7, 12, 17, 19, 24, 30 | 1 | St. Johns Town Center | 365,611,283 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 4 | Loan | 1, 2, 7, 12, 17, 18, 19, 30 | 1 | Arizona Grand Resort and Spa | 125,000,000 | NAP | 219.51 | 138.72 | 63.2% | 219.51 | 138.72 | 63.2% | 229.41 | 141.85 | 61.8% | 230.70 | 147.44 | 63.9% |
| 5 | Loan | 16, 23 | 1 | Morrison Yard | 52,500,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 6 | Loan | 7, 12, 23, 30 | 1 | Dallas Market Center | 239,270,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 1, 7, 10, 12, 13, 17, 19 | 1 | Hilton La Jolla Torrey Pines | 169,441,997 | 12/31/2033 | 259.00 | 204.29 | 78.9% | 255.45 | 201.50 | 78.9% | 253.71 | 199.82 | 78.8% | 250.95 | 193.87 | 77.3% |
| 8 | Loan | 2, 19 | 1 | 1900 Cardinal | 35,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 5, 15, 19 | 1 | Nashua Plaza | 37,864,299 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 19, 26 | 1 | Sheraton Eatontown Hotel | 28,500,000 | 3/22/2037 | 197.86 | 115.64 | 58.5% | 197.86 | 115.64 | 58.5% | 197.68 | 117.23 | 59.3% | 184.14 | 89.49 | 48.6% |
| 11 | Loan | 19 | 1 | SpringHill Suites Savannah | 30,298,859 | 12/5/2033 | 180.45 | 144.47 | 80.1% | 180.45 | 144.47 | 80.1% | 181.91 | 149.85 | 82.4% | 179.10 | 144.09 | 80.5% |
| 12 | Loan | 4, 17, 19 | 1 | Kenwood Pavilion | 22,872,241 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 19 | 1 | 10 Quivira Plaza | 18,000,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 4, 14, 16, 27, 28 | 1 | 2067 Anthony Avenue | 15,500,000 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 15 | Loan | 1 | Falcon & Mallard Heights Apartments | 14,509,333 | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16 | Loan | 5, 10, 19, 26, 30 | 1 | Mill Road & Melvin Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 17 | Loan | 2, 6, 19, 23 | 4 | North Carolina Cornerstone Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 17.01 | Property | 1 | Kenton Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 17.02 | Property | 1 | Mint Hill Village | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 17.03 | Property | 1 | Market Square II | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 17.04 | Property | 1 | Charlotte Auto | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 18 | Loan | 16, 19 | 1 | Homewood Suites South Las Vegas | 4/30/2040 | 169.22 | 119.51 | 70.6% | 169.22 | 119.51 | 70.6% | 171.16 | 108.14 | 70.1% | 152.37 | 108.14 | 70.7% | |
| 19 | Loan | 3, 4, 17, 30 | 1 | Rio Vista Mobile Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 20 | Loan | 5, 10, 19, 26, 30 | 1 | Sherman & Hopkins | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 21 | Loan | 19 | 1 | Orange Blossom Center | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 22 | Loan | 16, 27 | 1 | 92 West 169th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 23 | Loan | 27 | 1 | Oakwood Square | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24 | Loan | 5, 10, 19, 26, 30 | 1 | Valhalla Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 25 | Loan | 5, 10, 19, 26, 30 | 1 | 84th Street Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 26 | Loan | 1 | CT Self Storage - Fullerton | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 27 | Loan | 1 | Summerfield Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 28 | Loan | 16 | 1 | 501 W 58th Avenue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 29 | Loan | 6, 28 | 2 | Eagle Trace and Edgewood MHC Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 29.01 | Property | 1 | Eagle Trace MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 29.02 | Property | 1 | Edgewood MHC | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 30 | Loan | 17, 19 | 1 | CT Self Storage - Pomona | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 31 | Loan | 11, 19, 23 | 1 | Walgreens - Ooltewah | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 32 | Loan | 11, 19, 23 | 1 | Walgreens - Johnson City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 33 | Loan | 11, 19, 23 | 1 | Walgreens - Gallatin | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 34 | Loan | 17, 19 | 1 | CT Self Storage - Escondido | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 35 | Loan | 11, 19 | 1 | Dollar General - Orange City | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 36 | Loan | 11, 19 | 1 | Dollar General - DeLeon | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 37 | Loan | 11, 19 | 1 | Dollar General - Satsuma | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-18 |
Footnotes to Annex A-1
| (1) | “Barclays” denotes Barclays Capital Real Estate Inc. as Mortgage Loan Seller, “WFB” denotes Wells Fargo Bank, National Association as Mortgage Loan Seller, “SGFC” denotes Societe Generale Financial Corporation as Mortgage Loan Seller, “BSPRT” denotes BSPRT CMBS Finance, LLC as Mortgage Loan Seller, “LCF” denotes Ladder Capital Finance, LLC as Mortgage Loan Seller, “ZBNA” denotes Zions Bancorporation, N.A. as Mortgage Loan Seller, “SMC” denotes Starwood Mortgage Capital LLC as Mortgage Loan Seller, “GACC” denotes German American Capital Corporation as Mortgage Loan Seller, “GSMC” denotes Goldman Sachs Mortgage Company as Mortgage Loan Seller and “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. With respect to Loan No. 3, St. Johns Town Center, the mortgage loan is part of a whole loan that was co-originated by Barclays, Goldman Sachs Bank USA, JPMorgan Chase Bank, National Association and SGFC. With respect to Loan No. 4, Arizona Grand Resort and Spa, the mortgage loan is part of a whole loan that was co-originated by GACC, Goldman Sachs Bank USA and Wells Fargo Bank, National Association. With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the mortgage loan is part of a whole loan that was co-originated by Morgan Stanley Bank, N.A. and Barclays. |
| (2) | With respect to Loan No. 4, Arizona Grand Resort and Spa, the mortgaged property includes 744 rooms, of which 643 rooms are resort suites that are collateral for the mortgage loan; the additional 101 rentable guestrooms (the “Villa Rental Pool Rooms”) are located in 51 luxury villas that are owned by third parties as condominiums and are not collateral for the mortgage loan. The owners of the Villa Rental Pool Rooms participate in a rental pool program pursuant to which the borrower rents the Villa Rental Pool Rooms as hotel rooms and receives management fees in connection with such rental. The rental pool agreements and related documents have been collaterally assigned to the lender and are collateral for the mortgage loan. Per Unit calculations are based on 744 rooms. With respect to Loan No. 8, 1900 Cardinal, the mortgaged property is comprised of 1,118,220 square feet of warehouse/distribution space and a 10,080 square foot service garage. With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Kenton Place, the mortgaged property consists of 23 residential units and 38,299 square feet of retail and office space. The residential units are 100.0% occupied and the retail and office space are 98.3% occupied as of July 15, 2024. |
| (3) | 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. 19, Rio Vista Mobile Estates, the mortgaged property consists of 200 manufactured housing pads, three of which are leased to employees. Of the occupied units, there are 151 tenants on long-term leases with a minimum term of 15 years and 46 tenants are leasing on a month-to-month basis. |
| (4) | In certain cases, 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 five 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—Lease Expirations and Terminations—Other” in the preliminary prospectus. With respect to Loan No. 12, Kenwood Pavilion, the Largest Tenant, LA Fitness, has signed its lease amendment and extension and has already commenced paying rent, however, its location is currently closed for renovations. While the lender cannot provide assurances as to the exact timing of the tenant opening to the public, eight months of gap rent totaling $850,200 were escrowed upfront in connection with the origination of the mortgage loan. The borrower has a $1,000,000 recourse liability to the lender until the borrower provides evidence to the lender that LA Fitness is open for business and paying unabated rent under its lease at the Mortgaged Property. With respect to Loan No. 14, 2067 Anthony Avenue, the presented units and occupancy figures represent the 52 multifamily units at the mortgaged property and excludes the one ground floor commercial unit. The commercial unit is leased to Luna Daycare Center Corp., which has taken possession of its space and is paying rent but is not yet open for business. At origination of the mortgage loan, the borrower deposited $84,000 into a commercial rent |
| A-1-19 |
| reserve for the related space. Additionally, the borrower sponsors entered into a master lease with the borrower for the related commercial space until such time that Luna Daycare Center Corp. is in occupancy, open for business and paying rent. With respect to Loan No. 19, Rio Vista Mobile Estates, according to the June 1, 2024 rent roll, two units are underwritten as vacant due to known move outs expected to occur in June 2024 and one unit is underwritten as vacant due to it being dealer occupied under a storage agreement. The occupancy, exclusive of these three tenants, is 100%. | |
| (5) | With respect to all mortgage loans, with the exceptions of the mortgage loans identified in “Description of the Mortgage Pool—Definitions” in the preliminary prospectus, the Cut-off Date LTV Ratio (%) and the LTV Ratio at Maturity / ARD (%) are based on the Appraised Value ($) even though, for certain mortgage loans, the appraisal provided “as-stabilized” values based on certain criteria being met. With respect to Loan No. 9, Nashua Plaza, the Appraised Value ($) of $48,330,000 as of August 15, 2023 includes $330,000 for excess land that is part of the collateral for the mortgage loan. With respect to Loan No. 16, Mill Road & Melvin Ave, the Appraised Value of $25,300,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 30, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $25,400,000 due to rounding. With respect to Loan No. 20, Sherman & Hopkins, the Appraised Value of $21,000,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 12, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $21,200,000 due to rounding. With respect to Loan No. 24, Valhalla Portfolio, the Appraised Value of $17,000,000 represents the aggregate as-is portfolio value of the mortgaged properties as of June 10, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $17,100,000 due to rounding. With respect to Loan No. 25, 84th Street Portfolio, the Appraised Value of $16,200,000 represents the aggregate as-is portfolio value of the mortgaged properties as of May 12, 2024, which does not include a portfolio premium, but is lower than the sum of the appraised values for the individual portions of the mortgaged properties of $16,300,000 due to rounding. |
| (6) | For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Cut-off Date Balance ($) and Maturity/ARD Balance ($) 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. 17, North Carolina Cornerstone Portfolio ● Loan No. 29, Eagle Trace and Edgewood MHC Portfolio |
| (7) | The Original Balance ($), Cut-off Date Balance ($), and Maturity/ARD Balance ($) represent only the mortgage loan included in the issuing entity. The Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Cut-off Date LTV Ratio (%), LTV Ratio at Maturity / ARD (%), Underwritten NOI Debt Yield (%), Underwritten NCF Debt Yield (%) and Loan per Unit ($) 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 Control Notes and Non-Control Notes” in “Description of the Mortgage Pool—The Whole Loans” in the preliminary prospectus. ● Loan No. 1, Bridge Point Rancho Cucamonga ● Loan No. 2, 900 North Michigan ● Loan No. 3, St. Johns Town Center ● Loan No. 4, Arizona Grand Resort and Spa ● Loan No. 6, Dallas Market Center ● Loan No. 7, Hilton La Jolla Torrey Pines |
| A-1-20 |
| (8) | The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan. |
| (9) | 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) | With respect to Loan No. 2, 900 North Michigan, a Grace Period - Late Fee (Days) of five days is permitted once during any 12-month period. This does not apply to principal payment at maturity With respect to Loan No. 7, Hilton La Jolla Torrey Pines, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date. With respect to Lona No. 10, Sheraton Eatontown Hotel, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date. With respect to Loan No. 16, Mill Road & Melvin Ave, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date. With respect to Loan No. 20, Sherman & Hopkins, a Grace Period – Default (Days) of five does not apply to the amount due on the maturity date. With respect to Loan No. 24, Valhalla Portfolio, a Grace Period – Default (Days) of five days does not apply to the amount due on the maturity date. With respect to Loan No. 25, 84th Street Portfolio, a Grace Period – Default (Days) of five does not apply to the amount due on the maturity date. |
| (11) | With respect to Loan No. 31, Walgreens - Ooltewah, the mortgage loan is structured with an anticipated repayment date of August 6, 2034 (the “ARD”), and a final maturity of January 6, 2037. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. With respect to Loan No. 32, Walgreens - Johnson City, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of October 6, 2037. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. With respect to Loan No. 33, Walgreens - Gallatin, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of October 6, 2037. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. With respect to Loan No. 35, Dollar General – Orange City, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of April 6, 2037. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. With respect to Loan No. 36, Dollar General - DeLeon, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of January 6, 2037. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. With respect to Loan No. 37, Dollar General - Satsuma, the mortgage loan is structured with an ARD of August 6, 2034, and a final maturity of November 6, 2036. From and after the ARD, the mortgage loan will bear interest at a rate per annum equal to the sum of the applicable interest rate and 4.0000%. |
| (12) | 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. |
| A-1-21 |
| 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 preliminary prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Releases; Partial Releases” in the preliminary prospectus. With respect to Loan No. 1, Bridge Point Rancho Cucamonga, defeasance is permitted at any time after the date that is the earlier to occur of (i) two years after the closing date of the securitization that includes the last note to be securitized and (ii) August 11, 2027. The assumed defeasance lockout period of 25 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual defeasance lockout period may be longer. With respect to Loan No. 2, 900 North Michigan, the lockout period will be at least 24 payment dates beginning with and including the first payment date in September 2024. Defeasance of the 900 North Michigan Whole Loan in whole, but not in part, is permitted after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) July 22, 2027. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer. With respect to Loan No. 3, St. Johns Town Center, the whole loan may be (a) defeased after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized (the “REMIC Prohibition Period”) and (ii) June 1, 2027 (the “Permitted Release Date”), or (b) prepaid in whole (but not in part) with the payment of an amount equal to the greater of (i) 1% of the prepaid amount and (ii) the yield maintenance basis, if the Permitted Release Date has occurred but the REMIC Prohibition Period has not occurred, provided that any portion of the St. Johns Town Center Whole Loan that has been securitized, as of such projected prepayment date, for a period of more than two years from the closing date of the REMIC trust that holds such securitized portion of the St. Johns Town Center Whole Loan is contemporaneously defeased. The assumed defeasance lockout period of 26 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer. Additionally, in the event that a lockbox event period has occurred due to the debt yield being less than 10.0% for two consecutive calendar quarters, the borrowers may (a) prepay a portion of the St. Johns Town Center Whole Loan such that the debt yield is no less than 10.0% or (b) deliver to the lenders cash, United States obligations, other securities having a rating reasonably acceptable to the lenders and for which a rating agency confirmation has been received or a letter of credit, in each case, in an amount which, if applied to the repayment of the St. Johns Town Center Whole Loan would result in a debt yield equal to 10.0%. | |
| With respect to Loan No. 4, Arizona Grand Resort and Spa, the lockout period will be at least 24 payments beginning with and including the first payment date of September 6, 2024. Defeasance of the Arizona Grand Resort and Spa Whole Loan in whole, but not in part, is permitted after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) July 26, 2027. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization trust in August 2024. The actual lockout period may be longer. With respect to Loan No. 6, Dallas Market Center, the lockout period will be at least 24 payment dates beginning with and including the first payment date in July 2024. The assumed lockout period of 24 payments is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer. With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the lockout period will be at least 24 months beginning with and including the first payment date on September 1, 2024. Defeasance of the Hilton La Jolla Torrey Pines Whole Loan is permitted after the date that is the earlier to occur of (i) two years from the closing date of the securitization that includes the last pari passu note to be securitized and (ii) September 1, 2027. The assumed lockout period of 24 payment dates is based on the anticipated closing date of the BBCMS 2024-C28 securitization in August 2024. The actual lockout period may be longer. | |
| (13) | Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Indebtedness—Mezzanine Indebtedness,” “—Preferred Equity” and “Certain Legal Aspects of the Mortgage Loans” in the preliminary 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. |
| A-1-22 |
| With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the related mortgaged loan documents permit future mezzanine debt and/or preferred equity investments (each, a “Mezzanine Loan”) at any time after the earlier to occur of (x) the third anniversary of the first monthly payment date and (y) the date that is two years after the closing date of the securitization that includes the last note of the whole loan to be securitized, provided that, among other conditions (i) no event of default has occurred and is continuing, (ii) the combined debt yield, calculated assuming the Mezzanine Loan has been fully-funded, will be equal to or greater than 14.6%, in each instance as determined by the lender, which determination will be conclusive and binding on the borrower absent manifest error and (iii) the lender will have received one or more fully-executed intercreditor agreements, recognition agreements or any similar agreement by and between the lender and any such mezzanine lender, which is required to be in form and substance reasonably acceptable to the lender. | |
| (14) | 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. With respect to Loan No. 14, 2067 Anthony Avenue, the Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Underwritten NOI Debt Yield (%) and Underwritten NCF Debt Yield (%), which equal 1.87x, 1.85x, 11.5% and 11.4%, respectively, assume a stabilized underwritten economic vacancy of 3.1%, giving credit to rent payments due under four unleased units that are currently subject to a master lease, versus an economic vacancy of 9.2%, which assumes actual residential economic vacancy of 9.6% and a 5.0% commercial economic vacancy. Assuming the in-place economic vacancy, the Underwritten NOI DSCR (x), the Underwritten NCF DSCR (x), the Underwritten NOI Debt Yield (%) and the Underwritten NCF Debt Yield (%) would be 1.73x, 1.72x, 10.6% and 10.6%, respectively. The mortgage loan was structured to include a $148,224 rent reserve to be released to the borrower, upon the satisfaction of certain conditions, including, but not limited to, (i) no event of default under the mortgage loan then exists, (ii) the borrower has provided a certified rent roll with 98.0% occupancy, (iii) the borrower has provided the executed leases for four unleased units and (iv) the DSCR, based on trailing one-month income, annualized less underwritten expenses is greater than or equal to 1.60x. |
| (15) | In certain cases, Underwritten TI / LC ($) is inclusive of certain credits for upfront reserves taken at closing. With respect to Loan No. 9, Nashua Plaza, a $140,000 credit for the $1,400,000 tenant improvement and leasing commissions escrow was underwritten on the mortgage loan. The $1,400,000 initial deposit was placed into a reserve and disbursements can be made for tenant improvements and leasing commissions. |
| (16) | 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, Bridge Point Rancho Cucamonga, historical financial information is not available as the mortgaged property was built and completed lease up in 2024. With respect to Loan No. 5, Morrison Yard, historical financial information is not available as the mortgaged property was built in 2023. With respect to Loan No. 14, 2067 Anthony Avenue, historical financial information is not available as the mortgaged property was built in 2024. With respect to Loan No. 18, Homewood Suites South Las Vegas, Fourth Most Recent cash flows are not available as it was not required to be provided in connection with origination of the mortgage loan. With respect to Loan No. 22, 92 West 169th Street, historical financial information is not available as the mortgaged property was built in 2024. With respect to Loan No. 28, 501 W 58th Avenue, historical financial information is not available due to the tenant occupying on a triple net lease. |
| (17) | With respect to Loan No. 3, St. Johns Town Center, the mortgaged property is subject to two long-term ground leases covering the phase 1 and phase 2 parcels comprising the mortgaged property. Each ground lease is between an affiliate of the respective borrower, St. Johns Town Center, LLC (“Fee Owner”), as fee owner, and such borrower, as tenant. The mortgage loan is secured by each borrower’s respective leasehold interest in the mortgaged property, as well the Fee Owner’s interest in the entire mortgaged property. |
| A-1-23 |
| With respect to Loan No. 4, Arizona Grand Resort and Spa, a portion of the golf course at the mortgaged property (approximately six holes at the golf course) is ground leased from the City of Phoenix, pursuant to a ground lease with an annual rent payment of $100 and an expiration date of July 30, 2057, with no further extension options. With respect to Loan No. 7, Hilton La Jolla Torrey Pines, the mortgaged property is subject to a ground lease between the City of San Diego, as ground lessor, and JRK Torrey Pines Hotel Owner LLC, as ground lessee. The borrower entered into the ground lease on August 10, 1987, which expires on June 30, 2067, and has one, 10-year or one, 20-year extension option remaining. The annual minimum ground rent is $3,887,227.48 and is subject to an additional percentage rent, which will be adjusted every 10 years. The percentage rent is a calculation based on the percentage rent of (i) room rentals at 8.0% of revenues, (ii) food and non-alcoholic beverages at 5.0% of revenues, (iii) alcoholic beverages at 8.0% of revenues, (iv) lobby and gift shop revenue at 10.0% of revenues, (v) coin-operated machines at 10.0% of revenues, (vi) commissions from coin-operated telephones at 50.0% of revenues and (vii) all other uses at 15.0% of revenues. The ground lease is also subject to a minimum ground rent adjustment every five years, with the next scheduled adjustment on July 1, 2027. The minimum ground rent adjustment is based upon 80% of the annual average of actual ground rents paid or accrued for the five years preceding the adjustment date. With respect to Loan No. 12, Kenwood Pavilion, the Second Largest Tenant, Cooper's Hawk Winery & Restaurant, occupies its space pursuant to a ground lease and owns its own improvements. With respect to Loan No. 19, Rio Vista Mobile Estates, ground rent is equal to the greater of (a) $80,000 per year and (b) 50% of gross income for each lease year. Following the period commencing May 1, 2015, through April 30, 2028, the percentage of gross income payable as ground rent will increase by 1%, and will continue to increase in 1% increments every five years until the lease expires on April 30, 2045. Based on the lender’s underwriting, underwritten ground rent equates to $2,885,130, which is based on approximately 50.7% of the sum of total rent collections, other income, and expense recoveries net of utility expenses (excluding a 15% deduction in expenses for common area utilities). | |
| With respect to Loan No. 30, CT Self-Storage - Pomona, the mortgaged property is subject to a ground lease between The Robert F. Gledhill Trust dated October 30, 2009 and The Robert’s Childrens Trust, as ground lessors, and CT Storage – Pomona LLC, as ground lessee. The borrower entered into the ground lease on February 1, 2001, which was amended to extend the expiration to April 21, 2057. The ground lease has no remaining extension options. The annual base ground rent is $288,000. The annual ground rent is subject to additional rent in an amount equal to the excess of the additional rent percentage of the ground lessee’s gross revenues for the applicable prior calendar year over the base rent payable by the ground lessee under the ground lease for the same calendar year. The additional rent percentage is (i) 21% for the current calendar year (payable in 2025) and each subsequent calendar year through 2041 and (ii) 25% for the calendar year 2042 (payable in 2043) and each subsequent calendar year through the expiration of the ground lease. With respect to Loan No. 34, CT Self-Storage – Escondido, the mortgaged property is subject to a ground lease between Bulen Holdings III, LLC, as ground lessor, and CT Storage II – Escondido LLC, as ground lessee. The borrower entered into the ground lease on May 24, 2002, which expires on October 1, 2048, and has no extension options remaining. The annual base ground rent is $79,706.52 and is subject to an increase every five years (each an “Adjustment Date”), with the next scheduled increase on February 1, 2027. The ground rent increase is subject to the lesser of (i) 11% and (ii) a fraction, the numerator of which is the consumer price index (“CPI”) for the January immediately prior to the Adjustment Date and the denominator of which is the CPI five years earlier. | |
| (18) | 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. 4, Arizona Grand Resort and Spa, the borrower deposited $650,000 at loan origination into the seasonality reserve. In the event there is insufficient cash flow from the mortgaged property to cover debt service at any time during the term of the related whole loan, the initial seasonality reserve deposit will be used to cover such shortfall. |
| (19) | 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. |
| A-1-24 |
| With respect to Loan No. 3, St. Johns Town Center, the mortgage loan documents permit the borrower to provide a letter of credit in lieu of making any required deposits to the tax and insurance reserve, replacement reserve, rollover reserve, TI/LC reserve or gap rent reserve. With respect to any required deposits to the TI/LC reserve, the borrowers are further permitted to provide a guaranty in accordance with the mortgage loan documents in lieu of making any such required deposits. With respect to Loan No. 4, Arizona Grand Resort and Spa, upon the disbursement of any funds from the seasonal working capital reserve (the “Seasonality Reserve Trigger”), the borrower is required to deposit (a) during the first year of the loan term, on each monthly payment date in February, March, April, May, and June $650,000 and (b) during each year thereafter, on each monthly payment date in February, March, April, May, and June, an amount equal to the lesser of: (i) $650,000 and (ii) 1/5th of the positive difference determined by subtracting: (x) the aggregate gross revenue (excluding extraordinary income) received with respect to mortgaged property during the months of June, July, August and December in the immediately preceding calendar year from (y) without duplication, the aggregate of all operating expenses, debt service, deposits to the reserve funds and other amounts payable pursuant the mortgage loan documents during the months of June, July, August, and December of the immediate preceding calendar year, up to a cap of $3,250,000. Notwithstanding the foregoing, in the event (i) a trigger event has occurred and a portion of the initial seasonality deposit has been disbursed, (ii) it is the first time any portion of the initial seasonality deposit has been applied and (iii) the borrower has cured such trigger event and no other trigger event is continuing, then once the balance in the seasonality reserve is at least $650,000, the borrower will not be required to make ongoing deposits to the reserve until the occurrence of another Seasonality Reserve Trigger. In the event there is a shortfall, provided no event of default is then ongoing, the lender will disburse the available funds from the escrow account during the months of January, July, August and September, in an amount not to exceed the applicable shortfall. With respect to Loan No. 4, Arizona Grand Resort and Spa, the borrower is required to deposit on a monthly basis, an amount equal to the greatest of (i) 3.0% of the projected gross revenues for the mortgaged property (excluding revenue attributable to the villas subject to the rental pool agreement) for the prior month as set forth in the most recent approved annual budget, (ii) the then-current amount required by the management agreement and (iii) the then-current amount required by any franchise agreement, for approved capital expenditures and the repair and replacement of the FF&E. With respect to Loan No. 7, Hilton La Jolla Torrey Pines, during a cash sweep event period, the borrower is required to deposit into a FF&E reserve on a monthly basis the lesser of (i) an amount equal to 1/12th of 5% of the operating income for the mortgaged property for the preceding calendar year or (ii) the amount of the deposit required by Hilton Management LLC on account of FF&E under the hotel management agreement. With respect to Loan No. 7, Hilton La Jolla Torrey Pines, during a cash sweep event period, the borrower is required to deposit into a ground rent reserve on a monthly basis, at least 10 business days prior to each monthly payment date, an amount equal to the ground rent that will be payable under the ground lease for the month in which such monthly payment date occurs. With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for taxes will be waived for so long as (i) the lender has received satisfactory evidence that all taxes have been paid prior to delinquency, (ii) the Dollar General lease remains in full force and effect, (iii) no event of default under the Dollar General lease has occurred and is continuing, (iv) no material tenant trigger event has occurred and is continuing, (v) Dollar General is obligated pursuant to its lease to pay directly all applicable taxes and other assessments and (vi) Dollar General performs such tax obligations in a timely manner and the borrower provides reasonable evidence of such performance to the lender in a timely manner. With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for insurance premiums will be waived for so long as (i) the lender has received satisfactory evidence that the mortgaged property continues to be insured in accordance with the requirements of the mortgage loan documents, (ii) the Dollar General lease remains in full force and effect, (iii) no event of default under the Dollar General lease has occurred and is continuing, (iv) no material tenant trigger event has occurred and is continuing, (v) Dollar General is obligated pursuant to its lease to maintain insurance as required under the Dollar General lease, (vi) Dollar General performs such insurance obligations in a timely manner and the borrower provides reasonable evidence of such performance to the lender in a timely manner and (vii) among other conditions, Dollar General or any guarantor of the obligations of Dollar General under the Dollar General lease maintains a rating of not less than “BBB-” with S&P and Dollar General maintains insurance on the mortgaged property for loss resulting from perils and acts of terrorism. |
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| With respect to Loan No. 8, 1900 Cardinal, the monthly escrow for capital expenditures will be waived for so long as (i) the Dollar General lease remains in full force and effect, (ii) no event of default under the Dollar General lease has occurred and is continuing, (iii) no material tenant trigger event has occurred and is continuing, (iv) Dollar General is obligated pursuant to its lease to maintain the mortgaged property in a condition required under the lease and (v) Dollar General performs such maintenance obligations and the borrower provides reasonable evidence of such performance to the lender in a timely manner. With respect to Loan No. 8, 1900 Cardinal, the monthly rollover escrow will be waived for so long as the Dollar General lease remains in full force and effect. With respect to Loan No. 8, 1900 Cardinal, on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit all material tenant trigger event excess cash 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. The material tenant reserve account will be capped at $2,000,000. With respect to Loan No. 9, Nashua Plaza, on each monthly payment date, the borrower is 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 insurance policies. If all of the required insurance coverages are provided through an approved blanket policy, the borrower is not required to make deposits on account of insurance premiums; provided that (i) such blanket policy is maintained in full force and effect, (ii) either (a) the insurance premiums for such blanket policy are not paid in installments or financed or (b) if the insurance premiums for such blanket policy are paid in installments, (1) such installments are paid to the insurance company and/or the insurance agent or broker and not to a premium finance company, (2) the borrower submits evidence satisfactory to the lender of payment of each and every installment as such installments become due and payable and (3) the borrower has deposited with the lender the insurance premiums required deposit amount and such amount then remains on deposit with the lender and (iii) not less than 15 days prior to the expiration date of such blanket policy, the borrower provides the lender with (a) a certificate of insurance evidencing (1) the renewal of such blanket policy or (2) 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, Nashua Plaza, the borrower’s obligation to make the monthly rollover deposit of $10,828 is waived until such time as the aggregate amount of the rollover funds then on deposit in the rollover account is less than $1,000,000. Commencing on the next ensuing monthly payment date following such rollover trigger event, and on each monthly payment date thereafter, the borrower is required to make such monthly rollover deposit. With respect to Loan No. 9, Nashua Plaza, on each monthly payment date during a material tenant trigger event period, the borrower is required to deposit all material tenant trigger event excess cash 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. 10, Sheraton Eatontown Hotel, following the commencement and at all times during the continuance of a cash management period caused by a franchise expiration trigger event, all excess cash, if any, will be deposited in the franchise expiration reserve subaccount. A franchisee expiration trigger event means the date that is 24 months prior to the expiration of the franchise agreement or any replacement franchise agreement. With respect to Loan No. 11, SpringHill Suites Savannah, the borrower is required to, or is required to cause Chatham Savannah SHS Leaseco LLC to, deposit into a PIP reserve account held by the lender or servicer (i) at origination, an amount equal to $2,193,856.16 for the 2024 PIP, which represents 68.6% of the total estimated cost of the 2024 PIP as the borrower sponsor has contributed the remaining cost, (ii) no later than six months prior to the 2033 PIP commencement date, either (x) the sum of 100% of the budgeted cost for an anticipated 2033 PIP, as determined by the borrower and approved by the lender or (y) a letter of credit in the amount of 100% of the budgeted costs for an anticipated 2033 PIP, as determined by the borrower and approved by the lender and (iii) no later than six months prior to any PIP commencement date, other than the 2024 PIP and the 2033 PIP, either (x) the sum of 100% of the budgeted cost for such PIP, as determined by the borrower and approved by the lender or (y) a letter of credit in the amount of 100% of the budgeted costs for such PIP, as determined by the borrower and approved by the lender. With respect to Loan No. 12, Kenwood Pavilion, pursuant to the loan documents, on each monthly payment date during the period commencing upon the occurrence of a LA Fitness reserve trigger and terminating on the occurrence of a LA Fitness reserve trigger cure, the borrowers are required to deposit with the lender an amount |
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| equal to $22,500, subject to a cap of $1,000,000 (which such monthly reserve recommencing upon the reserve balance falling below said cap). Provided that no event of default is continuing, upon the occurrence of a LA Fitness reserve trigger cure, in accordance with the loan documents, any funds (if any) remaining in the LA Fitness reserve account are required to be disbursed to the borrowers, provided, however, if a cash trap event period is then continuing, then no such funds are required to be disbursed to the borrowers, and all such funds are required to be instead be deposited into the excess cash flow reserve account. With respect to Loan No. 13, 10 Quivira Plaza, the mortgage loan documents provide that the TI/LC Reserve Cap will not apply during the continuance of an event of default or a cash trap event period. Additionally, $200,000 of the Upfront TI/LC Reserve deposit is required to only be disbursed for qualified leasing expenses with respect to re-leasing the Price Chopper premises until the occurrence of an acceptable lease sweep lease event, which, amongst other conditions outlined in the loan documents, includes a renewal of not less than five years or a replacement lease with a tenant reasonably acceptable to the lender that extends at least three years beyond the end of the loan term with an initial lease term of at least five years. With respect to Loan No. 16, Mill Road & Melvin Ave, the borrowers are not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Mill Road & Melvin Ave mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrowers provide the lender timely evidence of payment of all such insurance premiums. With respect to Loan No. 17, North Carolina Cornerstone Portfolio, on each monthly payment date during a debt yield trigger event, the borrower is required to deposit $27,000 into the excess cash reserve. With respect to Loan No. 18, Homewood Suites South Las Vegas, at origination the borrower was required to deposit $3,600,000, representing the full estimated cost of the PIP, into a PIP reserve and on each monthly payment date, the borrower is required to deposit into the PIP reserve an amount reasonably estimated by the lender to provide for adequate funds to complete the work described in any PIP within the timeframes required by the PIP for the replacements and repairs required by the PIP. | |
| With respect to Loan No. 20, Sherman & Hopkins, the borrower is not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Sherman & Hopkins mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrower provides the lender timely evidence of payment of all such insurance premiums. With respect to Loan No. 21, Orange Blossom Center, on each payment date the borrower will be required to deposit an amount equal to 1/12th of the product obtained by multiplying $1.00 by the aggregate number of rentable square feet of space at the mortgaged property, initially $13,300.58 per month (the “Monthly Rollover Payment”) into the rollover reserve subaccount. Commencing on August 1, 2033 and on each payment date thereafter, the borrower is required to pay $71,500 (the “Enhanced Rollover Payment”); provided, however, that the Enhanced Rollover Payment will not be payable if as of July 10, 2033, at least 80% of the net rentable square footage of the mortgaged property is subject to a lease that extends at least three years after the stated maturity date. The borrower will not be required to deposit the Monthly Rollover Payment or the Enhanced Rollover Payment for so long as (i) no event of default has occurred or is continuing and (ii) no cash management period is in effect. With respect to Loan No. 24, Valhalla Portfolio, the borrowers are not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the Valhalla Portfolio mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrowers provide the lender timely evidence of payment of all such insurance premiums. With respect to Loan No. 25, 84th Street Portfolio, the borrower is not required to make monthly deposits into the tax and insurance subaccount for insurance premiums associated with any insurance coverage carried under a blanket insurance policy pursuant to the 84th Street Portfolio mortgage loan documents for so long as (i) no event of default has occurred and is continuing and (ii) the borrower provides the lender timely evidence of payment of all such insurance premiums. With respect to Loan No. 30, CT Self Storage - Pomona, on each monthly payment date during a ground lease reserve trigger event, the borrower is required to deposit into a ground lease reserve an amount that is estimated by the lender to be due and payable by the borrower under the ground lease for all rent and any and all other |
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| charges which may be due by the borrower under the ground lease in order to accumulate with the lender sufficient funds to pay all sums payable under the ground lease at least 10 business days prior to the dates due. With respect to Loan No. 34, CT Self Storage - Escondido, on each monthly payment date during a ground lease reserve trigger event, the borrower is required to deposit into a ground lease reserve an amount that is estimated by the lender to be due and payable by the borrower under the ground lease for all rent and any and all other charges which may be due by the borrower under the ground lease in order to accumulate with the lender sufficient funds to pay all sums payable under the ground lease at least 10 business days prior to the dates due. | |
| With respect to Loan Nos. 31, 32, 33, 35, 36 and 37, Walgreens – Ooltewah, Walgreens – Johnson City, Walgreens – Gallatin, Dollar General – Orange City, Dollar General – DeLeon and Dollar General – Satsuma, the borrower is not required to make (a) monthly tax escrow deposits so long as (i) no cash sweep period exists, (ii) the related sole tenant is permitted to, and is actually paying taxes directly to, the appropriate public office and (iii) the related sole tenant lease is in full force and effect and neither the landlord, tenant nor guarantor under the related sole tenant lease is in default of any of its obligations beyond any applicable notice and cure periods, and (b) monthly insurance escrow deposits so long as (i) no cash sweep period exists, (ii) the related sole tenant is permitted to maintain, and is actually maintaining, insurance, or is self-insured, in accordance with the terms and conditions of the related sole tenant lease, (iii) the related sole tenant pays insurance premiums directly to the respective insurer or agent, unless the related sole tenant is self-insured in accordance with the terms and conditions of the sole tenant lease, and (iv) the related sole tenant lease is in full force and effect and neither the landlord nor the tenant is in default of any of its obligations beyond any applicable notice and cure periods. | |
| (20) | 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. |
| (21) | 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. |
| (22) | 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) | 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. 1, Bridge Point Rancho Cucamonga, CEVA Logistics, the second largest tenant occupying 745,595 square feet (34.4% of NRA), has a one-time termination option on April 30, 2029 with a 12 month notice period. If such option is exercised, the tenant will be subject to a termination fee equal to the sum of 12 months of base rent, 12 months of operating expenses, certain restoration costs and unamortized costs related to TI/LC and free rent, all of which would be collected by the lender. With respect to Loan No. 2, 900 North Michigan, the Second Largest Tenant, Grosvenor Capital Mgmnt, L.P., has a one-time option to terminate its lease effective September 30, 2032, with notice to be given by September 30, 2031. With respect to Loan No. 5, Morrison Yard, the Second Largest Tenant, Morgan Stanley Smith Barney Financing, LLC, has a one-time option to terminate its lease effective at the end of the 84th month after the rental commencement date (estimated to be March 1, 2031), by providing at least 12 months prior written notice and payment to the landlord of the amount equal to the tenant improvement allowance and leasing commissions. With respect to Loan No. 6, Dallas Market Center, the Second Largest Tenant, Diverse Marketing, has various lease expiration dates, consisting of 10,750 square feet expiring on October 31, 2024, 2,230 square feet expiring on September 30, 2026 and 21,767 square feet expiring on October 31, 2026. With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Market Square II, the Fourth Largest Tenant, Navy Recruiting Center, may terminate its lease, in whole or in part, at any time by providing at least 60 days’ prior written notice. |
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| With respect to Loan No. 17, North Carolina Cornerstone Portfolio – Kenton Place, the Fourth Largest Tenant, Kenton Keyman Center, is comprised of four suites with lease expirations ranging from November 2024 to June 2025. With respect to Loan No. 31, Walgreens Ooltewah, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date. The lease expires on January 31, 2083, if not sooner terminated. With respect to Loan No. 32, Walgreens Johnson City, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date. The lease expires on October 31, 2082, if not sooner terminated. With respect to Loan No. 33, Walgreens Gallatin, the Largest Tenant Expiration Date is the effective date of the Largest Tenant’s, Walgreens, first termination option, which may be exercised upon written notice at least 12 months prior to the termination date. The lease expires on August 31, 2082, if not sooner terminated. | |
| (24) | With respect to Loan No. 3, St. Johns Town Center, for so long as one or more of Simon Property Group, L.P. (“SPG LP”), Simon Property Group, Inc. (“Simon Inc.”), RREEF America II Lower REIT LLC, or an affiliate of SPG LP or Simon Inc. is a non-recourse carveout guarantor, the non-recourse carveout guarantor’s aggregate liability is limited to 20% of the outstanding principal balance of the related whole loan at such time, plus all of the reasonable out-of-pocket costs and expenses (including court costs and reasonable attorneys’ fees) incurred by the related mortgagee in the enforcement of the related guaranty or the preservation of such mortgagee’s rights under such guaranty. In addition, there is no separate environmental indemnity with respect to such mortgage loan. The non-recourse carveout guaranty covers breaches of representations, warranties and indemnification provisions in the loan agreement concerning environmental laws and hazardous materials; however, such coverage is subject to the cap described above. |
| (25) | Each letter identifies a group of related borrowers. |
| (26) | The classification of the lockbox types is described in the preliminary prospectus. See “Description of the Mortgage Pool—Certain Calculations and Definitions” and “—Definitions” in the preliminary prospectus for further details. With respect to the following mortgage loans, which are structured with springing lockboxes, the borrowers may suspend their obligation to cause all rents to be deposited into a clearing account during a debt service coverage ratio cash management period (provided no other cash management period is continuing) if and for so long as the following conditions are satisfied: (i) the borrowers have deposited (and maintains on deposit) with the lender cash in the amount of the difference between (A) the annual net operating income that would be required to achieve a debt service coverage ratio of 1.10x, minus (B) the then-existing annual net operating income, as reasonably determined by the lender (the “NOI Shortfall”), which cash amount will be transferred to the cash collateral subaccount; or (ii) the borrowers have deposited (and maintains on deposit) with the lender a letter of credit in the amount of the NOI Shortfall. ● Loan No. 16, Mill Road & Melvin Ave ● Loan No. 20, Sherman & Hopkins ● Loan No. 24, Valhalla Portfolio ● Loan No. 25, 84th Street Portfolio With respect to Loan No. 10, Sheraton Eatontown Hotel, a cash management period will commence upon the occurrence of any of the following (i) an event of default, (ii) if, as of any calculation date, the debt service coverage ratio (“DSCR”) is less than 1.20x or (iii) a franchise expiration trigger event. With respect to clause (ii), such clause will not be deemed to have commenced for a period of 365 days from the borrower’s receipt of notice from the lender of the commencement of a DSCR cash management period (the “Deferral Period”) so long as (x) no event of default has occurred or is continuing and (y) within five days of the borrower’s receipt of notice from the lender that a DSCR cash management period has occurred, the borrower either (i) deposits with the lender additional funds in an amount equal to $455,000 (the “Cash Management Additional Deposit Amount”) or (ii) delivers a letter of credit to the lender in the amount of the Cash Management Additional Deposit Amount. The borrower will have the right to extend the Deferral Period for a successive period of 365 days commencing at the expiration of the prior Deferral Period for so long as (x) no event of default has occurred and is continuing and (y) no later than five days prior to the expiration of the then current Deferral Period, the borrower either (i) deposits with the lender the Cash Management Additional Deposit Amount or (ii) delivers to the lender an additional letter of credit in the amount of the Cash Management Additional Deposit Amount. |
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| (27) | With respect to Loan No. 14, 2067 Anthony Avenue, the mortgaged property is expected to benefit from 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. The 421-a tax abatement phases out in the 2058/2059 tax year. The borrower has opted to reserve 98.08% (51 units) of the units at the mortgaged property for tenants earning no more than 130% of the area median income. The 421-a tax abatement is expected to provide a (i) 100% tax exemption for the first 25 years and (ii) 98.08% tax exemption for years 26 through 35, with full taxes commencing at the end of the 35th applicable tax year. The 421-a tax abatement is pending approval, and the abatement period has not yet started. The full unabated estimated taxes for the 2024/2025 tax year are $233,450 compared to the underwritten taxes of $6,177. With respect to Loan No. 22, 92 West 169th, the mortgaged property submitted an application for a 35-year 421-a tax abatement from the NYC Department of Housing Preservation & Development program and is required to allocate at least 30% of units to the affordable housing program. 68.4% of the units (26 units) are market rate and 31.6% of the units (12 units) are designated as affordable, with a maximum rent based on 130% of the area median income. The tax abatement will expire in the 2058-2059 tax year. Taxes are 100% abated for the first 25 years, followed by a partial (30%) tax abatement for the remaining 10 years. With respect to Loan No. 23, Oakwood Square the mortgaged property benefits from a 12-year [Community Reinvestment Act] tax abatement for 50.0% of all improvements over a base value of $1,786,500. The tax abatement began in 2018 and has a 12-year term through 2030. The lender underwrote the average of the estimated tax liability over the course of the mortgage loan term, assuming static real estate taxes and a static abatement. |
| (28) | With respect to Loan No. 14, 2067 Anthony Avenue, the borrower sponsors entered into a master lease with the borrower for four vacant residential units at the mortgaged property. Additionally, the borrower sponsors entered into a master lease with the borrower for the ground floor commercial space at the mortgaged property. With respect to Loan No. 29, Eagle Trace and Edgewood MHC Portfolio, the borrowers entered into a master lease with a borrower-affiliate for the park owned homes at the mortgaged property. |
| (29) | Intentionally left blank. |
| (30) | With respect to Loan No. 3, St. Johns Town Center, Shops at St. Johns, LLC (“Mall Borrower”) is not jointly and severally liable with STJTC II, LLC (“Phase II Borrower”) under the Consolidated Note A-2, which evidences indebtedness in the amount of $76,653,493.87, and Phase II Borrower is not jointly and severally liable with Mall Borrower under Consolidated Note A-1, which evidences indebtedness in the amount of $158,877,573.74; however, the foregoing limitations on liability do not affect or impair the liability of: (a) Mall Borrower under the Note Guaranty Agreement (Mall Borrower), pursuant to which Mall Borrower has guaranteed Phase II Borrower’s payment of the outstanding principal balance of and performance of all of Phase II Borrower’s other obligations under the Consolidated Note A-2, or (b) Phase II Borrower under the Note Guaranty Agreement (Phase II Borrower), pursuant to which Phase II Borrower has guaranteed Mall Borrower’s payment of the outstanding principal balance of and performance of all of Mall Borrower’s other Obligations under the Consolidated Note A-1. With respect to Loan No. 4, Arizona Grand Resort and Spa, additional collateral for the loan includes the rental pool documents with respect to the Villa Rental Pool Rooms. The owners of the Villa Rental Pool Rooms participate in the mortgaged property’s rental pool program, whereby the units are rented out as additional hotel rooms on behalf of the villa’s owner. Under the terms of the rental pool agreements and related documents, the borrower receives a management fee of (x) with respect to each one-bedroom unit, 50% for the first $105,000 of annual rental revenue and 65% of all annual rental revenue in excess of $105,000, and (y) with respect to each suite unit, 50% for the first $70,000 of annual rental revenue and 65% of all annual rental revenue in excess of $70,000, in each case depending on the amount of annual revenue derived from the Villa Rental Pool Rooms, and a marketing fee. Each owner of the Villa Rental Pool Rooms is responsible for taxes, insurance, association dues, utilities, maintenance and renovation costs to keep the Villa Rental Pool Rooms consistent with the décor of the resort. The villa owners participating in the rental pool are permitted to reserve their Villa Rental Pool Rooms for a maximum of 60 days per year with reservations made at least one year in advance, although at the discretion of the resort management, the unit owner may use their Villa Rental Pool Rooms with shorter notice. Villa unit owners are required to provide 36 months written notice to remove their Villa Rental Pool Rooms from the rental pool. As of July 26, 2024, there are 101 Villa Rental Pool Rooms participating in the rental pool. With respect to Loan No. 6, Dallas Market Center, the borrowers are permitted under the Dallas Market Center Whole Loan documents to accept unsecured loans made by the borrowers’ partners to the borrowers in accordance |
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| with the terms of the borrowers’ organizational documents and not exceeding $15,000,000 in the aggregate, provided that each such loan is required to be subject to the terms of a subordination and standstill agreement in a form acceptable to the lender under the Dallas Market Center Whole Loan and to be entered into by the applicable holder of such loan in favor of the lender under the Dallas Market Center Whole Loan. With respect to Loan No. 19, Rio Vista Mobile Estates, upon an event of default, the lender has the option to disburse available funds from the Ground Rent Reserve directly to the ground lessor for payments of all amounts due in accordance with the terms of the ground lease. In the event that the lender disburses such funds, upon 10 days’ notice, the borrower is required to deposit into the Ground Lease Reserve account an amount equal to such disbursement. Furthermore, upon an event of default, the lender may (a) require the borrower to deposit funds into the Ground Lease Reserve on each monthly payment date an amount necessary to pay rents due to the ground lessor and (b) reassess (y) its estimate for deposits into the Ground Lease Reserve on each monthly payment date and/or (z) the amounts to be held in the Ground Lease Reserve. With respect to the following mortgage loans, all of the multifamily units at the related Mortgaged Properties are leased on a month-to-month basis. ● Loan No. 16, Mill Road & Melvin Ave ● Loan No. 20, Sherman & Hopkins ● Loan No. 24, Valhalla Portfolio ● Loan No. 25, 84th Street Portfolio |
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