EX-34.8 19 ccc16c28_34-8.htm ccc16c28_34-8.htm - Generated by SEC Publisher for SEC Filing

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Report of Independent Registered Public Accounting Firm

 

To the Audit Committee of Computershare Trust Company, National Association

 

We have examined management’s assertion, included in the accompanying Assessment of Compliance with the Applicable Servicing Criteria: Computershare Corporate Trust - CMBS Platform that Computershare Trust Company, National Association (the “Company”) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation AB for the commercial mortgage-backed securities (“CMBS”) transactions backed by pools of commercial mortgage loans and/or backed by CMBS for which the Company provides trustee, securities administration, paying agent services, and/or related roles, either directly in the related role for such services or as the agent of the party performing such services, and for which either (a) some or all of the issued securities for such CMBS transactions were publicly offered pursuant to a registration statement delivered under the Securities Act of 1933, as amended, or (b) the issued securities for such CMBS transactions were privately offered pursuant to an exemption from registration and either the Company (and/or the party for whom it acts agent) has an obligation under the transaction agreements to deliver an assessment of compliance with the applicable servicing criteria under Item 1122(d) of Regulation AB; provided however that, the platform excludes any transactions for which the offered securities were issued, sponsored and/or guaranteed by any agency or instrumentality of the U.S. government or any government-sponsored entity (the “CMBS Platform”), as of December 31, 2023 and for the year then ended (the “Period”), excluding criteria 1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii) and 1122(d)(4)(xiv), which Management has determined are not applicable to either the Company’s obligations, or the obligations of the party for whom the Company ultimately acts as agent, in either case under the related transaction agreements with respect to the CMBS Platform for the Period (as applicable, the “Company’s Obligations”); provided however that, with respect to the CMBS Platform (a) servicing criterion 1122(d)(1)(v) is applicable only to the Company’s Obligations related to the aggregation of information received and the conveyance of such information, in each case, as required by the transaction agreements, and (b) servicing criterion 1122(d)(4)(iii) is applicable only to the Company’s Obligations related to the process of making or effecting an addition, removal or substitution to the asset pool in accordance with the transaction agreements. 

 

As described in management's assertion, for servicing criteria 1122(d)(4)(i) and 1122(d)(2)(vi), the Company has engaged various vendors to perform the activities required by these servicing criteria.  The Company has determined that these vendors are not considered "servicers" as defined in Item 1101(j) of Regulation AB, and the Company has elected to take responsibility for assessing compliance with the servicing criteria applicable to each vendor as permitted by Compliance and Disclosure Interpretation 200.06 of the SEC Division of Corporation Finance’s interpretations of the rules adopted under Regulation AB and the Securities Act and the Exchange Act ("Interpretation 200.06"). As permitted by Interpretation 200.06, the Company has asserted that it has policies and procedures in place designed to provide reasonable assurance that the vendors' activities comply in all material respects with the servicing criteria applicable to each vendor.  The Company is solely responsible for determining that it meets the SEC requirements to apply Interpretation 200.06 for the vendors and related criteria as described in its assertion, and we performed no procedures with respect to the Company's determination of its eligibility to use Interpretation 200.06. 

 

Appendix A to management's assertion identifies the individual asset-backed transactions and securities defined by management as constituting the CMBS Platform. 

 

The Company’s management is responsible for its assertion and for the Company's compliance with the applicable servicing criteria.  Our responsibility is to express an opinion on management's assertion about the Company’s compliance with the applicable servicing criteria based on our examination.

 

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants.  Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance with the applicable servicing criteria is fairly stated, in all material respects, and, accordingly, included examining, on a test basis, evidence about the Company’s compliance with the applicable servicing criteria and performing such other procedures as we considered necessary in the circumstances.  Our examination included testing of selected asset-backed transactions and securities that comprise the CMBS Platform, testing of selected servicing activities related to the CMBS Platform, and determining whether the Company processed those selected transactions and performed those selected activities in compliance with the applicable servicing criteria.  Our procedures were limited to the selected transactions and servicing activities performed by the Company during the period covered by this report.  Our procedures were not designed to detect noncompliance arising from errors that may have occurred prior to or subsequent to our tests that may have affected the balances or amounts calculated or reported by the Company during the period covered by this report.  We believe that our examination provides, and that the evidence we obtained is sufficient and appropriate to provide, a reasonable basis for our opinion.  Our examination does not provide a legal determination on the Company’s compliance with the servicing criteria.

 

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.

 

In our opinion, management’s assertion that Computershare Trust Company, National Association complied with the aforementioned applicable servicing criteria as of and for the year ended December 31, 2023 for the CMBS Platform is fairly stated, in all material respects.

 

 

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 15, 2024

 

 

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Boston, MA 02210

T: (617) 530 5000, www.pwc.com/us