ABS-15G

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM ABS-15G

ASSET-BACKED SECURITIZER
Report Pursuant to Section 15G of

the Securities Exchange Act of 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

[_]           Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________________ to _________________

Date of Report (Date of earliest event reported)______________________

Commission File Number of securitizer: ____________________

Central Index Key Number of securitizer: ___________________

Name and telephone number, including area code, of the person to

contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) [_]

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) [_]

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) [_]

[ü]          Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0001013454

BPR 2023-STON Mortgage Trust

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): N/A

Central Index Key Number of underwriter (if applicable): Not applicable

Helaine M. Kaplan, (212) 250-5270

Name and telephone number, including area code, of the person to

contact in connection with this filing

INFORMATION TO BE INCLUDED IN THE REPORT

FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer

Attached as Exhibit 1 hereto is an agreed-upon procedures report, dated November 21, 2023, of Ernst & Young LLP, obtained by the depositor, which report sets forth the findings and conclusions, as applicable, of Ernst & Young LLP with respect to certain agreed-upon procedures performed by Ernst & Young LLP.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION
	(Depositor)
Date:  November 21, 2023
	By:	/s/ Helaine Kaplan
		Name: Helaine Kaplan
		Title: President
		(senior officer in charge of securitization of the depositor)
	By:	/s/ Matt Smith
		Name: Matt Smith
		Title: Director
		(senior officer in charge of securitization of the depositor)

Exhibit 1 Agreed-upon procedures report, dated November 21, 2023, of Ernst & Young LLP.

EX-1

Exhibit 1 

Ernst & Young LLP One Manhattan West New York, NY 10001 Tel: +1 212 773 3000 ey.com

Report of Independent Accountants on Applying Agreed-Upon Procedures

Deutsche Mortgage & Asset Receiving Corporation (the “Depositor”)

German American Capital Corporation

Deutsche Bank Securities Inc.

Barclays Capital Inc.

Barclays Capital Real Estate Inc.

Wells Fargo Bank, National Association

Wells Fargo Securities, LLC

(collectively, the “Specified Parties”)

Re:	BPR 2023-STON Mortgage Trust (the “Issuing Entity”)
	Commercial Mortgage Pass-Through Certificates (the “Certificates”)

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Specified Parties, for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to the Mortgage Loan (as defined herein) contained on the Data Files (as defined herein) (the “Subject Matter”) relating to the Issuing Entity’s securitization transaction as of 21 November 2023. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

For the purpose of the procedures described in this report, the Depositor provided us with:

a. Certain electronic data files (the “Data Files”) that are described in Attachment A,

b. Copies of various source documents (the “Source Documents”), which are listed on Exhibit 1 to Attachment A,

c. A list of characteristics on the Data Files (the “Compared Characteristics”), which are listed on Exhibit 2 to Attachment A, that the Depositor instructed us to compare to information contained in the Source Documents,

d. A list of characteristics on the Data Files (the “Recalculated Characteristics”), which are described in Attachment A, that the Depositor instructed us to recalculate using information on the Data Files,

e. A list of characteristics on the Data Files (the “Provided Characteristics”), which are listed on Exhibit 3 to Attachment A, on which the Depositor instructed us to perform no procedures,

f. A draft of the preliminary offering circular for the Issuing Entity’s securitization transaction (the “Draft Preliminary Offering Circular”) and

g. Instructions, assumptions and methodologies, which are described in Attachment A.

  Page 2 of 3

The procedures included in Attachment A were limited to comparing or recalculating certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Data Files, Source Documents, Compared Characteristics, Recalculated Characteristics, Provided Characteristics, Draft Preliminary Offering Circular and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A with respect to the Data Files. We have not verified, and we make no representation as to, the appropriateness, accuracy, completeness or reasonableness of the Source Documents, Provided Characteristics, Draft Preliminary Offering Circular or any other information provided to us by the Depositor upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to: (a) the existence of the Mortgage Loan, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Depositor that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the “AICPA”). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a “rating agency”) or

b. Making any findings with respect to:

i. Whether the origination of the Mortgage Loan conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,

ii. The value of the collateral securing the Mortgage Loan,

iii. Whether the originator(s) of the Mortgage Loan complied with federal, state or local laws or regulations or

iv. Any other factor or characteristic of the Mortgage Loan that would be material to the likelihood that the issuer of the Certificates will pay interest and principal in accordance with applicable terms and conditions.

  Page 3 of 3

We are required to be independent of the Depositor and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties, but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

21 November 2023

  Attachment A
Page 1 of 5

Background

For the purpose of the procedures described in this report, the Depositor indicated that:

a. The Issuing Entity’s assets will consist primarily of certain promissory notes evidencing a four-year, fixed-rate interest-only mortgage loan (the “Mortgage Loan”) and

b. The Mortgage Loan is secured by, among other things, a first-lien mortgage on the borrowers’ fee simple interest in an approximately 757,058 square foot super regional mall located in San Francisco, California (the “Mortgaged Property”).

Procedures performed and our associated findings

1. The Depositor provided us with:

a. An electronic data file (the “Preliminary Data File”) that the Depositor indicated contains information relating to the Mortgage Loan and Mortgaged Property that is expected to be as of 1 December 2023 (the “Reference Date”) and

b. Record layout and decode information relating to the information on the Preliminary Data File.

Using the information in the Source Documents, we compared the Compared Characteristics listed on Exhibit 2 to Attachment A, as shown on the Preliminary Data File, to the corresponding information in the Source Documents indicated on Exhibit 2 to Attachment A, subject to the instructions, assumptions and methodologies stated in the notes on Exhibit 2 to Attachment A. If more than one Source Document is listed for a Compared Characteristic, the Depositor instructed us to note agreement if the value on the Preliminary Data File for the Compared Characteristic agreed with the corresponding information in at least one of the Source Documents listed for such Compared Characteristic on Exhibit 2 to Attachment A (except as described in the notes on Exhibit 2 to Attachment A). We performed no procedures to reconcile any differences that may exist between various Source Documents for any of the Compared Characteristics listed on Exhibit 2 to Attachment A.

We performed certain procedures on earlier versions of the Data Files and communicated differences prior to being provided the Data Files which were subjected to the procedures as described herein.

2. As instructed by the Depositor, we adjusted the information on the Preliminary Data File to correct all the differences we noted in performing the procedures described in the Item above and provided a list of such differences to the Depositor. The Preliminary Data File, as so adjusted, is hereinafter referred to as the “Updated Data File.”

  Attachment A
Page 2 of 5

3. Subsequent to the performance of the procedures described in the Items above, we received from the Depositor:

a. An electronic data file (the “Final Data File,” which together with the Preliminary Data File comprise the Data Files) that the Depositor indicated contains information relating to the Mortgage Loan and Mortgaged Property as of the Reference Date and

b. Record layout and decode information relating to the information on the Final Data File.

Using information on the:

a. Final Data File and

b. Updated Data File,

we compared each Compared Characteristic listed on Exhibit 2 to Attachment A, as shown on the Final Data File, to the corresponding information on the Updated Data File and found such information to be in agreement.

4. Using the “First Payment Date,” as shown on the Final Data File, we recalculated the “Seasoning as of Cut-off Date (Months)” of the Mortgage Loan as of the Reference Date. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

5. Using the:

a. First Payment Date and

b. Maturity Date,

as shown on the Final Data File, we recalculated the “Original Balloon Term (Months)” of the Mortgage Loan. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

6. The applicable Source Document(s) indicate that the Mortgage Loan is interest-only for its entire term. Based on this information, the Depositor instructed us to:

a. Use “0” for the:

i. Original Amort. Term (Months) and

ii. Remaining Term to Amortization (Months)

of the Mortgage Loan,

b. Use the “Original Balloon Term (Months),” as shown on the Final Data File, for the original interest-only period of the Mortgage Loan (the “Original Interest Only Period (Months)”) and

c. Use the “Original First Mortgage Balance,” as shown on the Final Data File, for the:

i. Principal balance of the Mortgage Loan as of the Reference Date (the “Cut-off First Mortgage Balance”) and

ii. Principal balance of the Mortgage Loan as of the “Maturity Date” of the Mortgage Loan (the “First Mortgage Maturity Balance”).

We compared this information to the corresponding information on the Final Data File and found such information to be in agreement.

  Attachment A
Page 3 of 5

7. Using the:

a. Original Balloon Term (Months),

b. Original Interest Only Period (Months) and

c. Seasoning as of Cut-off Date (Months),

as shown on the Final Data File, we recalculated the:

i. Remaining Term to Maturity (Months) and

ii. Rem IO Period

of the Mortgage Loan. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

8. Using the:

a. Original First Mortgage Balance,

b. First Mortgage Interest Rate and

c. Interest Calculation (30/360 / Actual/360),

as shown on the Final Data File, and the calculation methodologies provided by the Depositor which are described in the succeeding paragraph(s) of this Item, we recalculated the:

i. Monthly Debt Service Payment and

ii. Annual Debt Service Payment

of the Mortgage Loan. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

For the purpose of this procedure, the Depositor instructed us to recalculate the “Monthly Debt Service Payment” of the Mortgage Loan as 1/12^th of the product of:

a. The “Original First Mortgage Balance,” as shown on the Final Data File,

b. The “First Mortgage Interest Rate,” as shown on the Final Data File, and

c. 365/360.

For the purpose of this procedure, the Depositor instructed us to recalculate the “Annual Debt Service Payment” of the Mortgage Loan as twelve (12) times the “Monthly Debt Service Payment,” as shown on the Final Data File.

  Attachment A
Page 4 of 5

9. Using the:

a. Annual Debt Service Payment,

b. Cut-off First Mortgage Balance,

c. First Mortgage Maturity Balance,

d. Appraisal Value,

e. UW NOI,

f. UW NCF and

g. Collateral Square Ft.,

as shown on the Final Data File, and the applicable calculation methodologies and assumptions described in the Draft Preliminary Offering Circular, we recalculated the:

i. UW NOI DSCR (Current),

ii. UW NCF DSCR (Current),

iii. LTV at Cut-off,

iv. LTV at Maturity,

v. U/W NOI Debt Yield,

vi. U/W NCF Debt Yield and

vii. Cut-off Balance per Unit

of the Mortgage Loan. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

For the purpose of this procedure, the Depositor instructed us to:

a. Round the characteristics listed in i. and ii. above to two decimal places and

b. Round the characteristics listed in iii. through vi. above to the nearest 1/10^th of one percent.

10. Using the:

a. Major Tenant Sq. Ft. # 1,

b. Major Tenant Sq. Ft. # 2,

c. Major Tenant Sq. Ft. # 3,

d. Major Tenant Sq. Ft. # 4,

e. Major Tenant Sq. Ft. # 5 and

f. Collateral Square Ft.,

as shown on the Final Data File, we recalculated the:

i. Major % of Sq. Ft. # 1,

ii. Major % of Sq. Ft. # 2,

iii. Major % of Sq. Ft. # 3,

iv. Major % of Sq. Ft. # 4 and

v. Major % of Sq. Ft. # 5

of the Mortgaged Property. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

  Attachment A
Page 5 of 5

11. Using the:

a. Master,

b. Primary,

c. Cert Admin Fee Rate,

d. OA Rate and

e. CREFC Fee Rate,

as shown on the Final Data File, we recalculated the “Admin Fee Rate” of the Mortgage Loan. We compared this recalculated information to the corresponding information on the Final Data File and found such information to be in agreement.

Exhibit 1 to Attachment A
Page 1 of 2

Source Documents

Mortgage Loan Source Documents

Source Document Title	Source Document Date
Loan Agreement (see Note 1)	21 November 2023
Cash Management Agreement (see Note 1)	17 November 2023
Deposit Account Control Agreement (see Note 1)	17 November 2023
Guaranty Agreement (see Note 1)	18 November 2023
Environmental Indemnity Agreement (see Note 1)	17 November 2023

Mortgaged Property Source Documents

Source Document Title	Source Document Date
Appraisal Report	23 August 2023
Engineering Report	5 September 2023
Phase I Environmental Report	5 September 2023
Seismic Report	5 September 2023
USPS Internet Site (www.usps.com)	Not Applicable
Underwriter’s Summary Report	Not Dated
Underwritten Rent Roll	30 September 2023
Borrower Historical Rent Rolls	Various
Lease Agreements	Various
Lease Abstracts	Various
Management Agreement	1 January 2023
Title Policy	Not Dated

Exhibit 1 to Attachment A
Page 2 of 2

Mortgaged Property Source Documents (continued)

Source Document Title	Source Document Date
Insurance Risk Analysis	16 November 2023
Property Insurance Certificates	Various
Capital Expenditure Support	Not Dated
Bloomberg Screenshots for Tenant Credit Ratings	Not Dated
Sponsor Offering Memorandum	July 2023

Note:

1. The indicated provided Source Document(s) are draft document(s) with the Source Document Date reflecting the latest date of receipt. For the purpose of the procedures described in this report, the Depositor instructed us to treat the indicated Source Document(s) as fully executed.

Exhibit 2 to Attachment A
Page 1 of 5

Compared Characteristics and Source Documents

Mortgaged Property Information:

Characteristic	Source Document(s)
Address (see Note 1)	Appraisal Report
City (see Note 1)	Appraisal Report
State (see Note 1)	Appraisal Report
County	Appraisal Report
Zip Code	USPS Internet Site (www.usps.com)
Property Type	Appraisal Report
Property Sub-Type	Appraisal Report
Year Built	Appraisal Report
Year Renovated	Appraisal Report
Units/Rentable Square Ft.	Underwritten Rent Roll
Collateral Square Ft.	Underwritten Rent Roll
Primary Unit of Measure	Underwritten Rent Roll
Most Recent Physical Occupancy	Underwritten Rent Roll
Most Recent Rent Roll Date	Underwritten Rent Roll
Single Tenant (Yes/No)	Underwritten Rent Roll
Property Manager	Management Agreement

Third Party Information:

Characteristic	Source Document(s)
Appraisal Value	Appraisal Report
Date of Valuation	Appraisal Report
FIRREA Eligible (Yes/No)	Appraisal Report
Date of Engineering Report	Engineering Report
Date of Phase I Report	Phase I Environmental Report
Date of Seismic Report	Seismic Report
PML (%)	Seismic Report
Earthquake Insurance (Y/N)	Insurance Risk Analysis
Terrorism Insurance (Y/N)	Insurance Risk Analysis
Windstorm Insurance (Y/N)	Insurance Risk Analysis
Environmental Insurance (Y/N)	Insurance Risk Analysis

Exhibit 2 to Attachment A
Page 2 of 5

Major Tenant Information:

Characteristic	Source Document(s)
Major Tenant Name # 1	Underwritten Rent Roll
Major Tenant Sq. Ft. # 1	Underwritten Rent Roll
Major Tenant Lease Expiration Date # 1	Underwritten Rent Roll
Major Tenant Name # 2	Underwritten Rent Roll
Major Tenant Sq. Ft. # 2	Underwritten Rent Roll
Major Tenant Lease Expiration Date # 2	Underwritten Rent Roll
Major Tenant Name # 3	Underwritten Rent Roll
Major Tenant Sq. Ft. # 3	Underwritten Rent Roll
Major Tenant Lease Expiration Date # 3	Underwritten Rent Roll
Major Tenant Name # 4	Lease Agreement
Major Tenant Sq. Ft. # 4	Underwritten Rent Roll
Major Tenant Lease Expiration Date # 4	Underwritten Rent Roll
Major Tenant Name # 5	Underwritten Rent Roll
Major Tenant Sq. Ft. # 5	Underwritten Rent Roll
Major Tenant Lease Expiration Date # 5	Underwritten Rent Roll

Underwriting Information: (see Note 2)

Characteristic	Source Document(s)
UW EGI	Underwriter’s Summary Report
UW Expenses	Underwriter’s Summary Report
UW NOI	Underwriter’s Summary Report
UW Replacement Reserves	Underwriter’s Summary Report
UW TI/LC	Underwriter’s Summary Report
UW NCF	Underwriter’s Summary Report
UW Vacancy	Underwriter’s Summary Report
Most Recent EGI	Underwriter’s Summary Report
Most Recent Expenses	Underwriter’s Summary Report
Most Recent NOI	Underwriter’s Summary Report
Most Recent Replacement Reserves	Underwriter’s Summary Report
Most Recent TI/LC	Underwriter’s Summary Report
Most Recent NCF	Underwriter’s Summary Report
Most Recent Date	Underwriter’s Summary Report
2022 EGI	Underwriter’s Summary Report
2022 Expenses	Underwriter’s Summary Report
2022 NOI	Underwriter’s Summary Report
2022 Replacement Reserves	Underwriter’s Summary Report
2022 TI/LC	Underwriter’s Summary Report
2022 NCF	Underwriter’s Summary Report
2021 EGI	Underwriter’s Summary Report
2021 Expenses	Underwriter’s Summary Report
2021 NOI	Underwriter’s Summary Report
2021 Replacement Reserves	Underwriter’s Summary Report
2021 TI/LC	Underwriter’s Summary Report
2021 NCF	Underwriter’s Summary Report

Exhibit 2 to Attachment A
Page 3 of 5

Underwriting Information: (continued)

Characteristic	Source Document(s)
2020 EGI	Underwriter’s Summary Report
2020 Expenses	Underwriter’s Summary Report
2020 NOI	Underwriter’s Summary Report
2020 Replacement Reserves	Underwriter’s Summary Report
2020 TI/LC	Underwriter’s Summary Report
2020 NCF	Underwriter’s Summary Report

Reserve and Escrow Information:

Characteristic	Source Document(s)
Monthly Tax Constant / Escrow	Loan Agreement
Monthly Insurance Constant / Escrow	Loan Agreement
Monthly TI/LC Constant / Escrow	Loan Agreement
Monthly Replacement Constant / Escrow	Loan Agreement
Other Reserve	Loan Agreement
Description Other Reserve	Loan Agreement
TI/LC Reserve at Closing	Loan Agreement
TI/LC Reserve Cap	Loan Agreement
Replacement Reserve at Closing	Loan Agreement
Replacement Reserve Cap	Loan Agreement
Directs Investment (Borrower or Lender)	Loan Agreement
RE Tax Interest Accrues for Benefit of Borrower	Loan Agreement
Insurance Interest Accrues for Benefit of Borrower	Loan Agreement
Replacement Reserve Interest Accrues for Benefit of Borrower	Loan Agreement
TI/LC Interest Accrues for Benefit of Borrower	Loan Agreement
Immediate Repairs Interest Accrues for Benefit of Borrower	Loan Agreement
Other Escrows Interest Accrues for Benefit of Borrower	Loan Agreement

Exhibit 2 to Attachment A
Page 4 of 5

Mortgage Loan Information:

Characteristic	Source Document(s)
Original First Mortgage Balance	Loan Agreement
Borrower	Loan Agreement
Mortgage Loan Originator	Loan Agreement
Amortization Type	Loan Agreement
Interest Calculation (30/360 / Actual/360)	Loan Agreement
ARD (Yes/No)	Loan Agreement
Payment Day	Loan Agreement
First Payment Date	Loan Agreement
Maturity Date	Loan Agreement
Prepayment Provision (see Note 3)	Loan Agreement
Lockout Expiration Date (see Notes 3 and 4)	Loan Agreement
Grace Period (Late Fee)	Loan Agreement
Grace Period (Default)	Loan Agreement
Assumption Fee	Loan Agreement
LockBox Type (see Note 5)	Loan Agreement
Cash Management (see Note 6)	Loan Agreement
Excess Cash Trap Trigger	Loan Agreement
Partial Prepay Allowed (Yes/No) (see Note 3)	Loan Agreement
SPE	Loan Agreement
Guarantor	Guaranty Agreement
Earnout/Holdback	Loan Agreement
Letter of Credit	Loan Agreement
TIC	Loan Agreement
Existing Additional Debt (Yes/No)	Loan Agreement
Existing Additional Debt Amount	Loan Agreement
Future Additional Debt Permitted (Yes/No)	Loan Agreement
Lien Position	Title Policy
Ownership Interest	Title Policy
Sponsor	Loan Agreement

Exhibit 2 to Attachment A
Page 5 of 5

Notes:

1. For the purpose of comparing the indicated characteristics, the Depositor instructed us to ignore differences that are due to standard postal abbreviations.

2. For the purpose of comparing the “Underwriting Information” characteristics that are expressed as dollar values, the Depositor instructed us to ignore differences of +/- $1 or less.

3. For the purpose of comparing the indicated characteristics, the Depositor instructed us to ignore any prepayment premiums or other conditions related to substitution events, partial release events, permitted outparcel releases or partial prepayments to cure certain trigger periods, as described in the applicable Source Document(s).

4. For the purpose of comparing the “Lockout Expiration Date” characteristic, the Depositor instructed us to use the day prior to the first payment date in the defeasance period.

5. For the purpose of comparing the “LockBox Type” characteristic, the Depositor instructed us to use “Hard” if the applicable Source Document(s) require the borrower(s) or manager(s) to direct tenants (excluding seasonal tenants) to pay rents directly to a lockbox account controlled by the lender(s).

6. For the purpose of comparing the “Cash Management” characteristic, the Depositor instructed us to use “Springing” if:

a. Prior to the occurrence of an event of default or one or more specific trigger events described in the applicable Source Document(s), revenue in the lockbox account is transferred to an account controlled by the borrower(s), and

b. Upon the occurrence of an event of default or one or more specific trigger events described in the applicable Source Document(s), revenue in the lockbox account is transferred to a cash management account controlled by the lender(s), and the funds are disbursed according to the applicable Source Document(s).

We performed no procedures to determine the appropriateness, accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Depositor that are described in the notes above.

Exhibit 3 to Attachment A

Provided Characteristics

Characteristic

Loan Number

% of Total Cut-off Date Pool Balance

Property Name

Ground Lease Expiration Date

Ground Lease Extension Options

Mortgage Loan Seller

Properties per Loan

Appraisal Value As Is/ Stabilized

Date of Phase II Report (if applicable)

Note Date

Related Principal

Loan Purpose

OA Rate

Master

Primary

Cert Admin Fee Rate

CREFC Fee Rate

Sub Servicer Fee Rate

Sub Serviced (Y/N)

Sub Servicer Name

Earnout/Holdback Description

Future Additional Debt Type

Existing Additional Debt Description

Future Additional Debt Description

Partial Prepayment Description

First Mortgage Interest Rate

Tax at Closing

Tax Reserve Cap

Insurance at Closing

Insurance Reserve Cap

Engineering Reserve taken at Closing

Note: We performed no procedures to determine the appropriateness, accuracy, completeness or reasonableness of the Provided Characteristics.