BMO 2023-C5 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor or BMO Capital Markets Corp., any other underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-866-864-7760 (8 a.m. – 5 p.m. EST).

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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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

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

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

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

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

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

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

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

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

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.

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Zip Code	General Property Type	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %
						2	2			3		7	6, 7	6, 7	6, 7
1	Loan	12, 19, 20, 22, 24	1	Brier Creek Commons	27617	Retail	Anchored	2001	NAP	519,277	SF	163.58	65,000,000	64,958,243	56,574,888	6.91000%
2	Loan	6, 10, 12, 15, 16, 19, 20, 23, 28	4	Central Florida Industrial Portfolio	Various	Industrial	Flex	Various	Various	419,886	SF	100.60	42,240,000	42,240,000	42,240,000	6.21000%
2.01	Property		1	Orlando International Business Center	32822	Industrial	Flex	1983, 1985	2022	196,228	SF		22,265,000	22,265,000	22,265,000
2.02	Property		1	Corporex Plaza	33619	Industrial	Flex	1984-1985	NAP	100,265	SF		9,087,000	9,087,000	9,087,000
2.03	Property		1	Brandywine Business Center	33619	Industrial	Flex	1986	NAP	79,124	SF		6,793,000	6,793,000	6,793,000
2.04	Property		1	President's Plaza	33634	Industrial	Flex	1988	NAP	44,269	SF		4,095,000	4,095,000	4,095,000
3	Loan	12, 19, 29	1	Hyatt Regency Indianapolis	46204	Hospitality	Full Service	1977	2020	499	Rooms	117,267.89	40,000,000	39,943,123	34,969,110	7.08000%
4	Loan	6, 12, 19, 20	3	Cincinnati Multifamily Portfolio	45211	Multifamily	Garden	Various	Various	375	Units	104,000.00	39,000,000	39,000,000	39,000,000	6.91000%
4.01	Property		1	Ferncrest Apartments	45211	Multifamily	Garden	1970	NAP	144	Units		14,046,600	14,046,600	14,046,600
4.02	Property		1	Candlewood Apartments	45211	Multifamily	Garden	1961	2018	110	Units		13,494,400	13,494,400	13,494,400
4.03	Property		1	Renata Apartments	45211	Multifamily	Garden	1966	NAP	121	Units		11,459,000	11,459,000	11,459,000
5	Loan	1, 12, 13, 19, 24	1	Great Lakes Crossing Outlets	48326	Retail	Outlet Center	1998	2010	1,128,332	SF	159.53	37,500,000	37,500,000	37,500,000	6.52100%
6	Loan	1, 3, 6, 12, 16, 17, 19, 28, 30	42	Oak Street NLP Fund Portfolio	Various	Various	Various	Various	Various	6,470,388	SF	52.55	30,000,000	30,000,000	30,000,000	6.13800%
6.01	Property		1	Big Lots - Tremont, PA	17981	Industrial	Warehouse / Distribution	2000	NAP	1,294,548	SF		4,836,000	4,836,000	4,836,000
6.02	Property		1	Big Lots - Durant, OK	74701	Industrial	Warehouse / Distribution	2003	NAP	1,296,562	SF		3,937,412	3,937,412	3,937,412
6.03	Property		1	Badcock - LaGrange, GA	30240	Industrial	Warehouse / Distribution	2015	NAP	537,855	SF		1,719,529	1,719,529	1,719,529
6.04	Property		1	Badcock - Mebane, NC	27302	Industrial	Warehouse / Distribution	2004	2019	369,420	SF		1,269,882	1,269,882	1,269,882
6.05	Property		1	Badcock - Mulberry, FL	33860	Industrial	Warehouse / Distribution	1991	2002	371,240	SF		1,237,412	1,237,412	1,237,412
6.06	Property		1	NAICO - Chandler, OK	74834	Office	Suburban	1920	2022	158,430	SF		1,176,000	1,176,000	1,176,000
6.07	Property		1	Save Mart Supermarkets - San Pablo, CA	94806	Retail	Single Tenant	1973	NAP	109,876	SF		993,176	993,176	993,176
6.08	Property		1	Nation Safe Driver - Boca Raton, FL	33487	Office	Suburban	1981	2022	139,785	SF		960,706	960,706	960,706
6.09	Property		1	Save Mart Supermarkets - Fresno, CA (4)	93727	Retail	Single Tenant	1981	2007, 2008	186,652	SF		907,765	907,765	907,765
6.10	Property		1	Save Mart Supermarkets - El Cerrito, CA	94530	Retail	Single Tenant	2001	NAP	66,778	SF		754,588	754,588	754,588
6.11	Property		1	Save Mart Supermarkets - Stockton, CA	95207	Retail	Single Tenant	1978	2001	119,916	SF		715,765	715,765	715,765
6.12	Property		1	Save Mart Supermarkets - Modesto, CA (4)	95355	Retail	Single Tenant	2001	NAP	54,605	SF		655,059	655,059	655,059
6.13	Property		1	Save Mart Supermarkets - Grass Valley, CA	95945	Retail	Single Tenant	1990	NAP	43,737	SF		636,000	636,000	636,000
6.14	Property		1	Save Mart Supermarkets - Fresno, CA (5)	93705	Retail	Single Tenant	1978	1996, 2004, 2015	148,270	SF		631,059	631,059	631,059
6.15	Property		1	Save Mart Supermarkets - Ceres, CA	95307	Retail	Single Tenant	1980	2004	116,789	SF		583,765	583,765	583,765
6.16	Property		1	Save Mart Supermarkets - Bakersfield, CA	93306	Retail	Single Tenant	1979	NAP	68,337	SF		571,059	571,059	571,059
6.17	Property		1	Big Y - Milford, CT	06460	Retail	Single Tenant	2019	NAP	55,000	SF		565,412	565,412	565,412
6.18	Property		1	Save Mart Supermarkets - Sparks, NV (2)	89441	Retail	Single Tenant	1999	2018	52,368	SF		508,941	508,941	508,941
6.19	Property		1	Save Mart Supermarkets - Tracy, CA	95376	Retail	Single Tenant	1997	NAP	61,660	SF		499,765	499,765	499,765
6.20	Property		1	Save Mart Supermarkets - Folsom, CA	95630	Retail	Single Tenant	1990	NAP	49,769	SF		488,471	488,471	488,471
6.21	Property		1	Save Mart Supermarkets - Tracy, CA (2)	95376	Retail	Single Tenant	1966	NAP	149,631	SF		478,588	478,588	478,588
6.22	Property		1	Save Mart Supermarkets - Napa, CA	94558	Retail	Single Tenant	1969	1989	51,845	SF		435,529	435,529	435,529
6.23	Property		1	Badcock - Mulberry, FL (4)	33860	Industrial	Warehouse / Distribution	1964	1992	184,000	SF		402,353	402,353	402,353
6.24	Property		1	Save Mart Supermarkets - Chico, CA	95926	Retail	Single Tenant	1989	2001	42,294	SF		377,647	377,647	377,647
6.25	Property		1	Save Mart Supermarkets - Salinas, CA	93907	Retail	Single Tenant	1998	2012	62,565	SF		376,235	376,235	376,235
6.26	Property		1	Save Mart Supermarkets - Kingsburg, CA	93631	Retail	Single Tenant	1999	NAP	41,368	SF		371,294	371,294	371,294
6.27	Property		1	Save Mart Supermarkets - Clovis, CA (3)	93611	Retail	Single Tenant	2002	NAP	50,918	SF		368,471	368,471	368,471
6.28	Property		1	Save Mart Supermarkets - Clovis, CA (2)	93611	Retail	Single Tenant	1984	2002	52,576	SF		342,353	342,353	342,353
6.29	Property		1	Save Mart Supermarkets - Vacaville, CA (2)	95688	Retail	Single Tenant	1988	NAP	42,630	SF		338,118	338,118	338,118
6.30	Property		1	Save Mart Supermarkets - Elk Grove, CA	95624	Retail	Single Tenant	1994	NAP	45,642	SF		333,882	333,882	333,882
6.31	Property		1	Save Mart Supermarkets - Manteca, CA	95336	Retail	Single Tenant	1984	NAP	35,312	SF		309,176	309,176	309,176
6.32	Property		1	Save Mart Supermarkets - Fresno, CA (3)	93710	Retail	Single Tenant	1994	NAP	58,360	SF		292,941	292,941	292,941
6.33	Property		1	Save Mart Supermarkets - Lodi, CA	95240	Retail	Single Tenant	1996	NAP	50,342	SF		289,412	289,412	289,412
6.34	Property		1	Save Mart Supermarkets - Sparks, NV	89431	Retail	Single Tenant	1993	NAP	47,404	SF		273,882	273,882	273,882
6.35	Property		1	Save Mart Supermarkets - Carson City, NV	89701	Retail	Single Tenant	1995	NAP	52,079	SF		258,353	258,353	258,353
6.36	Property		1	Save Mart Supermarkets - Oakland, CA	94619	Retail	Single Tenant	1965	NAP	21,258	SF		239,294	239,294	239,294
6.37	Property		1	Save Mart Supermarkets - Coalinga, CA	93210	Retail	Single Tenant	2006	NAP	49,749	SF		231,529	231,529	231,529
6.38	Property		1	Save Mart Supermarkets - Marysville, CA	95901	Retail	Single Tenant	1973	NAP	30,080	SF		228,706	228,706	228,706
6.39	Property		1	Save Mart Supermarkets - Jackson, CA	95642	Retail	Single Tenant	1994	NAP	40,593	SF		210,353	210,353	210,353
6.40	Property		1	Badcock - Mulberry, FL (3)	33860	Office	Suburban	1915	1986	42,750	SF		146,118	146,118	146,118
6.41	Property		1	Badcock - Mulberry, FL (2)	33860	Office	Suburban	1912	1954	8,270	SF		30,353	30,353	30,353

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Zip Code	General Property Type	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %
						2	2			3		7	6, 7	6, 7	6, 7
6.42	Property		1	Badcock - Mulberry, FL (5)	33860	Industrial	Warehouse / Distribution	1978	NAP	9,125	SF		17,647	17,647	17,647
7	Loan	1, 4, 12, 13, 20, 33	1	Harborside 2-3	07311	Office	CBD	1930	2021	1,599,029	SF	140.71	30,000,000	30,000,000	30,000,000	5.84000%
8	Loan	12, 16, 19	1	Cross Island Plaza	11422	Office	CBD	1982	2021	256,930	SF	165.41	30,000,000	30,000,000	30,000,000	6.60500%
9	Loan	3, 16, 19	1	500 Mamaroneck	10528	Other	Leased Fee	NAP	NAP	1,502,820	SF	19.63	29,500,000	29,500,000	29,500,000	6.83000%
10	Loan	3, 4, 7, 12, 16	1	Sayville Plaza	11716	Retail	Anchored	1969	2021	237,093	SF	118.10	28,000,000	28,000,000	28,000,000	7.65000%
11	Loan	3, 4, 6, 12, 28, 29, 30	99	Jaylor - Burger King Portfolio	Various	Retail	Single Tenant	Various	Various	304,641	SF	173.46	28,000,000	27,916,343	12,999,038	6.91000%
11.01	Property		1	Burger King #04324 - Gulf Shores, AL	36542	Retail	Single Tenant	1984	2017	3,735	SF		520,099	518,545	241,457
11.02	Property		1	Burger King #04581 - Foley, AL	36535	Retail	Single Tenant	1985	2018	3,842	SF		511,972	510,442	237,684
11.03	Property		1	Burger King #02957 - Houma, LA	70360	Retail	Single Tenant	1980	NAP	3,048	SF		507,909	506,391	235,797
11.04	Property		1	Burger King #11942 - Gray, LA	70359	Retail	Single Tenant	1998	NAP	3,003	SF		491,656	490,187	228,252
11.05	Property		1	Burger King #03818 - Mobile, AL	36618	Retail	Single Tenant	1983	2018	3,398	SF		471,339	469,931	218,820
11.06	Property		1	Burger King #05255 - Prichard, AL	36612	Retail	Single Tenant	1986	2017	3,489	SF		451,023	449,675	209,388
11.07	Property		1	Burger King #12830 - Boutte, LA	70039	Retail	Single Tenant	1999	2018	3,068	SF		446,960	445,624	207,502
11.08	Property		1	Burger King #03156 - Saraland, AL	36571	Retail	Single Tenant	1981	2018	3,244	SF		434,770	433,471	201,842
11.09	Property		1	Burger King #11614 - Harvey, LA	70058	Retail	Single Tenant	1998	2018	2,987	SF		422,580	421,318	196,183
11.10	Property		1	Burger King #09004 - Diamondhead, MS	39525	Retail	Single Tenant	1995	2018	2,920	SF		418,517	417,267	194,297
11.11	Property		1	Burger King #04130 - Vicksburg, MS	39180	Retail	Single Tenant	2005	2020	2,756	SF		418,517	417,267	194,297
11.12	Property		1	Burger King #09708 - Natchez, MS	39120	Retail	Single Tenant	1996	2015	2,892	SF		410,390	409,164	190,524
11.13	Property		1	Burger King #09270 - Robertsdale, AL	36567	Retail	Single Tenant	1995	2016	2,545	SF		406,327	405,113	188,638
11.14	Property		1	Burger King #02643 - Gladstone, MO	64119	Retail	Single Tenant	1979	NAP	3,923	SF		390,074	388,908	181,092
11.15	Property		1	Burger King #01207 - West Monroe, LA	71291	Retail	Single Tenant	1973	NAP	2,992	SF		381,947	380,806	177,320
11.16	Property		1	Burger King #12007 - Denham Springs, LA	70726	Retail	Single Tenant	1998	2017	2,969	SF		377,884	376,755	175,433
11.17	Property		1	Burger King #10802 - Westwego, LA	70094	Retail	Single Tenant	1997	2018	2,982	SF		373,821	372,704	173,547
11.18	Property		1	Burger King #06788 - Zachary, LA	70791	Retail	Single Tenant	1990	2015	2,885	SF		373,821	372,704	173,547
11.19	Property		1	Burger King #06129 - Mobile, AL	36607	Retail	Single Tenant	1988	2018	2,694	SF		373,821	372,704	173,547
11.20	Property		1	Burger King #09788 - Walker, LA	70785	Retail	Single Tenant	1996	2015	2,987	SF		369,757	368,653	171,660
11.21	Property		1	Burger King #09838 - Fairhope, AL	36532	Retail	Single Tenant	1996	2020	2,935	SF		365,694	364,602	169,774
11.22	Property		1	Burger King #01198 - Mobile, AL	36608	Retail	Single Tenant	1973	2018	3,807	SF		357,568	356,500	166,001
11.23	Property		1	Burger King #10764 - Morgan City, LA	70380	Retail	Single Tenant	1997	NAP	2,990	SF		357,568	356,500	166,001
11.24	Property		1	Burger King #01465 - Laurel, MS	39440	Retail	Single Tenant	1974	2017	2,966	SF		353,505	352,449	164,115
11.25	Property		1	Burger King #07930 - Long Beach, MS	39560	Retail	Single Tenant	2007	2018	2,918	SF		353,505	352,449	164,115
11.26	Property		1	Burger King #05029 - Pineville, LA	71360	Retail	Single Tenant	1986	NAP	3,489	SF		349,441	348,397	162,228
11.27	Property		1	Burger King #12633 - Port Allen, LA	70767	Retail	Single Tenant	1999	2018	3,063	SF		349,441	348,397	162,228
11.28	Property		1	Burger King #01439 - Slidell, LA	70458	Retail	Single Tenant	1974	2018	3,423	SF		345,378	344,346	160,342
11.29	Property		1	Burger King #01437 - Monroe, LA	71202	Retail	Single Tenant	1974	NAP	2,944	SF		345,378	344,346	160,342
11.30	Property		1	Burger King #07467 - Ruston, LA	71270	Retail	Single Tenant	1992	NAP	2,915	SF		345,378	344,346	160,342
11.31	Property		1	Burger King #12895 - Delhi, LA	71232	Retail	Single Tenant	1999	NAP	3,073	SF		345,377	344,345	160,342
11.32	Property		1	Burger King #04914 - Pensacola, FL	32507	Retail	Single Tenant	1985	2022	4,098	SF		337,252	336,244	156,569
11.33	Property		1	Burger King #01425 - New Iberia, LA	70560	Retail	Single Tenant	1996	NAP	3,100	SF		325,062	324,090	150,910
11.34	Property		1	Burger King #05035 - Tuscaloosa, AL	35401	Retail	Single Tenant	1986	2017	4,182	SF		320,998	320,039	149,024
11.35	Property		1	Burger King #06783 - Baton Rouge, LA	70817	Retail	Single Tenant	1990	2019	2,881	SF		308,809	307,886	143,365
11.36	Property		1	Burger King #10763 - Hammond, LA	70401	Retail	Single Tenant	1997	2018	2,867	SF		308,809	307,886	143,365
11.37	Property		1	Burger King #06676 - Jackson, MS	39211	Retail	Single Tenant	1990	2018	2,814	SF		308,809	307,886	143,365
11.38	Property		1	Burger King #06149 - New Iberia, LA	70563	Retail	Single Tenant	1988	NAP	2,720	SF		308,809	307,886	143,365
11.39	Property		1	Burger King #01489 - Mobile, AL	36619	Retail	Single Tenant	1984	2015	3,489	SF		296,619	295,733	137,706
11.40	Property		1	Burger King #12661 - Baton Rouge, LA	70807	Retail	Single Tenant	1999	2019	3,056	SF		296,619	295,733	137,706
11.41	Property		1	Burger King #06906 - Warrensburg, MO	64093	Retail	Single Tenant	1990	NAP	3,000	SF		292,556	291,682	135,819
11.42	Property		1	Burger King #10762 - Geismar, LA	70734	Retail	Single Tenant	1996	2018	2,898	SF		292,556	291,682	135,819
11.43	Property		1	Burger King #13080 - Slidell, LA	70458	Retail	Single Tenant	2000	2020	3,939	SF		288,492	287,631	133,933
11.44	Property		1	Burger King #12329 - Rayne, LA	70578	Retail	Single Tenant	2000	NAP	3,200	SF		288,492	287,631	133,933
11.45	Property		1	Burger King #10572 - Eunice, LA	70535	Retail	Single Tenant	1997	NAP	2,998	SF		288,492	287,631	133,933
11.46	Property		1	Burger King #09686 - Thomasville, AL	36784	Retail	Single Tenant	1996	2017	2,905	SF		288,492	287,631	133,933
11.47	Property		1	Burger King #02483 - Mobile, AL	36608	Retail	Single Tenant	1980	2019	3,722	SF		284,429	283,579	132,046
11.48	Property		1	Burger King #11544 - Westlake, LA	70669	Retail	Single Tenant	1998	2017	2,974	SF		284,429	283,579	132,046

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Zip Code	General Property Type	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %
						2	2			3		7	6, 7	6, 7	6, 7
11.49	Property		1	Burger King #09026 - Laurel, MS	39440	Retail	Single Tenant	1995	2017	2,554	SF		284,429	283,579	132,046
11.50	Property		1	Burger King #12313 - Roeland Park, KS	66205	Retail	Single Tenant	1999	NAP	4,018	SF		276,302	275,477	128,274
11.51	Property		1	Burger King #11715 - Ville Platte, LA	70586	Retail	Single Tenant	1998	NAP	2,998	SF		276,302	275,477	128,274
11.52	Property		1	Burger King #03623 - Covington, LA	70433	Retail	Single Tenant	1983	2014	2,430	SF		276,302	275,477	128,274
11.53	Property		1	Burger King #09692 - Greenwell Springs, LA	70739	Retail	Single Tenant	1996	2017	3,114	SF		272,239	271,426	126,387
11.54	Property		1	Burger King #06674 - Slidell, LA	70460	Retail	Single Tenant	1990	NAP	2,905	SF		272,239	271,426	126,387
11.55	Property		1	Burger King #01428 - Sulphur, LA	70663	Retail	Single Tenant	2011	NAP	2,957	SF		268,176	267,375	124,501
11.56	Property		1	Burger King #05981 - Meridian, MS	39301	Retail	Single Tenant	1988	2014	2,662	SF		260,049	259,272	120,728
11.57	Property		1	Burger King #09213 - Pensacola, FL	32526	Retail	Single Tenant	1996	2020	2,613	SF		260,049	259,272	120,728
11.58	Property		1	Burger King #08645 - Pace, FL	32571	Retail	Single Tenant	1994	2020	2,475	SF		260,049	259,272	120,728
11.59	Property		1	Burger King #02831 - Olathe, KS	66062	Retail	Single Tenant	1976	NAP	4,757	SF		251,923	251,170	116,956
11.60	Property		1	Burger King #04330 - Kansas City, MO	64114	Retail	Single Tenant	1985	NAP	3,011	SF		251,923	251,170	116,956
11.61	Property		1	Burger King #12322 - Oakdale, LA	71463	Retail	Single Tenant	1999	NAP	2,967	SF		251,923	251,170	116,956
11.62	Property		1	Burger King #03585 - Daphne, AL	36526	Retail	Single Tenant	1983	2019	2,799	SF		251,923	251,170	116,956
11.63	Property		1	Burger King #06916 - Kenner, LA	70065	Retail	Single Tenant	1990	2018	3,008	SF		247,860	247,119	115,069
11.64	Property		1	Burger King #11694 - DeQuincy, LA	70633	Retail	Single Tenant	1998	2017	2,986	SF		247,860	247,119	115,069
11.65	Property		1	Burger King #09115 - Meridian, MS	39307	Retail	Single Tenant	1995	2015	2,391	SF		247,860	247,119	115,069
11.66	Property		1	Burger King #00373 - Mobile, AL	36693	Retail	Single Tenant	1967	2012	2,421	SF		243,796	243,068	113,183
11.67	Property		1	Burger King #01617 - Lake Charles, LA	70601	Retail	Single Tenant	1976	2017	3,194	SF		239,733	239,017	111,296
11.68	Property		1	Burger King #01917 - Vidalia, LA	71373	Retail	Single Tenant	1977	NAP	2,913	SF		239,733	239,017	111,296
11.69	Property		1	Burger King #12264 - Mission, KS	66202	Retail	Single Tenant	1999	NAP	4,001	SF		235,670	234,966	109,410
11.70	Property		1	Burger King #09804 - Gonzales, LA	70737	Retail	Single Tenant	1996	2015	2,987	SF		231,606	230,915	107,524
11.71	Property		1	Burger King #11095 - Tuscaloosa, AL	35405	Retail	Single Tenant	1998	NAP	2,932	SF		231,606	230,915	107,524
11.72	Property		1	Burger King #09259 - Gulf Breeze, FL	32563	Retail	Single Tenant	1995	NAP	2,621	SF		223,480	222,812	103,751
11.73	Property		1	Burger King #00144 - Baton Rouge, LA	70806	Retail	Single Tenant	1964	2015	3,240	SF		219,418	218,762	101,865
11.74	Property		1	Burger King #12597 - Lake Charles, LA	70611	Retail	Single Tenant	1999	2017	3,073	SF		219,416	218,761	101,864
11.75	Property		1	Burger King #06488 - Mobile, AL	36695	Retail	Single Tenant	1989	NAP	2,795	SF		219,416	218,761	101,864
11.76	Property		1	Burger King #00211 - Baton Rouge, LA	70802	Retail	Single Tenant	1996	2018	2,980	SF		211,290	210,659	98,092
11.77	Property		1	Burger King #01337 - Metairie, LA	70003	Retail	Single Tenant	1974	2018	2,970	SF		211,290	210,659	98,092
11.78	Property		1	Burger King #04016 - Mobile, AL	36606	Retail	Single Tenant	1984	2016	4,134	SF		207,227	206,608	96,205
11.79	Property		1	Burger King #10607 - Houma, LA	70360	Retail	Single Tenant	1997	2018	2,975	SF		199,100	198,505	92,432
11.80	Property		1	Burger King #10800 - Livingston, AL	35470	Retail	Single Tenant	1998	NAP	2,921	SF		199,100	198,505	92,432
11.81	Property		1	Burger King #12820 - Iowa, LA	70647	Retail	Single Tenant	1999	2017	3,073	SF		195,037	194,454	90,546
11.82	Property		1	Burger King #09958 - Grove Hill, AL	36451	Retail	Single Tenant	1996	2017	2,399	SF		195,037	194,454	90,546
11.83	Property		1	Burger King #01149 - Baton Rouge, LA	70805	Retail	Single Tenant	1972	2018	2,625	SF		190,974	190,403	88,660
11.84	Property		1	Burger King #06325 - Baton Rouge, LA	70809	Retail	Single Tenant	1989	2017	3,047	SF		178,784	178,250	83,001
11.85	Property		1	Burger King #13081 - New Iberia, LA	70560	Retail	Single Tenant	2000	NAP	3,500	SF		170,657	170,147	79,228
11.86	Property		1	Burger King #11979 - Monroe, LA	71201	Retail	Single Tenant	1998	NAP	3,014	SF		170,657	170,147	79,228
11.87	Property		1	Burger King #03685 - Kansas City, MO	64111	Retail	Single Tenant	1983	NAP	2,695	SF		170,657	170,147	79,228
11.88	Property		1	Burger King #06048 - Tuscaloosa, AL	35406	Retail	Single Tenant	1988	NAP	2,585	SF		170,657	170,147	79,228
11.89	Property		1	Burger King #06105 - Northport, AL	35476	Retail	Single Tenant	1988	NAP	2,636	SF		166,594	166,096	77,342
11.90	Property		1	Burger King #12919 - Covington, LA	70433	Retail	Single Tenant	1999	2020	3,920	SF		162,531	162,045	75,455
11.91	Property		1	Burger King #12660 - Vinton, LA	70668	Retail	Single Tenant	1999	2017	3,073	SF		158,467	157,994	73,569
11.92	Property		1	Burger King #09853 - Franklin, LA	70538	Retail	Single Tenant	1996	NAP	2,990	SF		158,467	157,994	73,569
11.93	Property		1	Burger King #00360 - New Orleans, LA	70130	Retail	Single Tenant	1968	2022	2,654	SF		142,215	141,790	66,023
11.94	Property		1	Burger King #12753 - Slidell, LA	70458	Retail	Single Tenant	1999	NAP	2,635	SF		121,898	121,534	56,591
11.95	Property		1	Burger King #01315 - Alexandria, LA	71302	Retail	Single Tenant	1974	NAP	3,206	SF		105,645	105,329	49,046
11.96	Property		1	Burger King #12752 - Lafayette, LA	70507	Retail	Single Tenant	1999	NAP	2,850	SF		73,139	72,920	33,955
11.97	Property		1	Burger King #11488 - Lafayette, LA	70506	Retail	Single Tenant	1998	NAP	3,358	SF		69,075	68,869	32,068
11.98	Property		1	Burger King #01537 - Lafayette, LA	70501	Retail	Single Tenant	1975	NAP	3,200	SF		69,075	68,869	32,068
11.99	Property		1	Burger King #00501 - Lafayette, LA	70503	Retail	Single Tenant	1988	NAP	2,654	SF		0	0	0

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Zip Code	General Property Type	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %
						2	2			3		7	6, 7	6, 7	6, 7
12	Loan	19, 20, 30	1	Montreal Beach Resort	08204	Hospitality	Full Service	1966	2022	70	Rooms	375,000.00	26,250,000	26,250,000	23,609,376	7.50000%
13	Loan	6, 12, 15, 16, 19, 20, 28	2	Philadelphia Life Science Portfolio	Various	Industrial	Various	Various	NAP	301,344	SF	76.32	23,000,000	23,000,000	23,000,000	6.16000%
13.01	Property		1	Adare Dungan	19111	Industrial	Warehouse / Distribution	1960	NAP	172,107	SF		12,342,051	12,342,051	12,342,051
13.02	Property		1	Adare Orthodox	19124	Industrial	R&D	1960, 1962, 1993	NAP	129,237	SF		10,657,949	10,657,949	10,657,949
14	Loan	5, 6, 12, 16, 19, 28	4	Orizon Aerostructures	Various	Industrial	Manufacturing	Various	Various	785,000	SF	77.83	22,595,000	22,595,000	22,595,000	6.80500%
14.01	Property		1	2522 and 2526 W. 21st Street, Chanute, KS	66720	Industrial	Manufacturing	1992, 2017, 2020	NAP	300,000	SF		8,695,982	8,695,982	8,695,982
14.02	Property		1	500 Industrial Road A, Grove, OK	74344	Industrial	Manufacturing	1969, 2001, 2011, 2014	2012, 2017, 2018	220,000	SF		6,367,351	6,367,351	6,367,351
14.03	Property		1	801 W. Old 56 Hwy, Olathe, KS	66061	Industrial	Manufacturing	2016	NAP	205,000	SF		5,930,733	5,930,733	5,930,733
14.04	Property		1	615 W. Cherry Street, Chanute, KS	66720	Industrial	Manufacturing	1968, 1984, 1995	2023	60,000	SF		1,600,934	1,600,934	1,600,934
15	Loan	19, 22, 31	1	GRM Indianapolis	46225	Industrial	Warehouse / Distribution	1940	1989	394,570	SF	43.08	17,000,000	17,000,000	17,000,000	6.26000%
16	Loan	16	1	The Penleigh	65616	Multifamily	Garden	1994	2022	325	Units	48,461.54	15,750,000	15,750,000	15,750,000	7.14000%
17	Loan	1, 2, 4, 12, 13, 19, 23, 31	1	Pacific Design Center	90069	Mixed Use	Office / Showroom / Lab	1975, 1988	2004	1,053,217	SF	232.62	15,000,000	15,000,000	15,000,000	5.941071428571430%
18	Loan	12, 19, 20	1	La Habra Marketplace	90631	Retail	Anchored	1968-2002	2005-2019	372,476	SF	255.05	15,000,000	15,000,000	15,000,000	3.70000%
19	Loan	19	1	Comfort Suites Maingate East	34746	Hospitality	Limited Service	2000	2020	198	Rooms	70,707.07	14,000,000	14,000,000	13,405,959	7.99000%
20	Loan	16, 20	1	801 Bridgeboro Road	08010	Industrial	Warehouse / Distribution	1850	1987	307,887	SF	42.22	13,000,000	13,000,000	13,000,000	6.97000%
21	Loan	4, 5, 16, 23, 31	1	Crosswinds Business Park	78233	Industrial	Flex	1999	NAP	96,597	SF	128.81	12,450,000	12,442,427	10,888,282	7.09000%
22	Loan	19, 20	1	Loves Park Tech Center	61111	Industrial	Warehouse	1953	NAP	534,642	SF	20.99	11,220,000	11,220,000	11,220,000	7.01000%
23	Loan	16, 19, 33	1	800 Cesar Chavez	94124	Industrial	Warehouse	1953	NAP	122,360	SF	310.56	10,000,000	10,000,000	10,000,000	4.11000%
24	Loan	19	1	Fresenius	11215	Office	Medical	1971	2011	15,000	SF	633.33	9,500,000	9,500,000	9,500,000	6.75000%
25	Loan	1, 6	4	Macon GA Portfolio	31204	Multifamily	Garden	Various	NAP	117	Units	64,829.06	7,585,000	7,585,000	7,162,140	6.72300%
25.01	Property		1	Riviera	31204	Multifamily	Garden	1963, 1966	NAP	40	Units		2,895,627	2,895,627	2,734,197
25.02	Property		1	Oak Hill	31204	Multifamily	Garden	1970	NAP	36	Units		2,294,726	2,294,726	2,166,796
25.03	Property		1	Cobblestone	31204	Multifamily	Garden	1972	NAP	25	Units		1,292,076	1,292,076	1,220,043
25.04	Property		1	Neal Darlington	31204	Multifamily	Garden	1963, 1964	NAP	16	Units		1,102,571	1,102,571	1,041,103
26	Loan	5, 19	1	Holiday Inn Express and Suites - Aiken	29803	Hospitality	Limited Service	2014	NAP	95	Rooms	77,368.42	7,350,000	7,350,000	7,231,573	7.65000%
27	Loan		1	Mini U Storage - Springfield	22150	Self Storage	Self Storage	1986	NAP	64,185	SF	109.06	7,000,000	7,000,000	7,000,000	6.60000%
28	Loan	16, 19	1	Quality Inn SeaTac	98188	Hospitality	Limited Service	1981	2022	102	Rooms	65,071.51	6,650,000	6,637,294	5,851,648	7.32470%
29	Loan	1, 6, 10	4	Steiner Portfolio - Chicago 4-Pack	60620	Multifamily	Garden	Various	NAP	75	Units	88,413.33	6,631,000	6,631,000	6,056,267	6.55600%
29.01	Property		1	8052 South Laflin Street	60620	Multifamily	Garden	1925	NAP	23	Units		1,989,300	1,989,300	1,816,880
29.02	Property		1	8100 South Justine Street	60620	Multifamily	Garden	1928	NAP	22	Units		1,863,849	1,863,849	1,702,302
29.03	Property		1	8154 South Paulina Street	60620	Multifamily	Garden	1928	NAP	18	Units		1,541,259	1,541,259	1,407,673
29.04	Property		1	8100 South Ada Street	60620	Multifamily	Garden	1926	NAP	12	Units		1,236,592	1,236,592	1,129,412
30	Loan	1, 6, 10	3	Steiner Portfolio - Chicago 3-Pack	Various	Multifamily	Garden	Various	NAP	49	Units	91,346.94	4,476,000	4,476,000	4,088,049	6.55600%
30.01	Property		1	7253 South Evans Avenue	60619	Multifamily	Garden	1923	NAP	18	Units		1,608,563	1,608,563	1,469,143
30.02	Property		1	7801 South Ridgeland Avenue	60649	Multifamily	Garden	1924	NAP	16	Units		1,503,656	1,503,656	1,373,329
30.03	Property		1	7600 South Honore Street	60620	Multifamily	Garden	1923	NAP	15	Units		1,363,781	1,363,781	1,245,577
31	Loan	16, 19	1	SureStay Plus SeaTac	98188	Hospitality	Limited Service	2006	2021	58	Rooms	73,993.69	4,300,000	4,291,634	3,777,214	7.25750%
32	Loan	1	1	Limestone Terrace	77840	Multifamily	Garden	2011	NAP	60	Units	64,250.00	3,855,000	3,855,000	3,855,000	6.72000%
33	Loan	15, 20, 21, 22	1	Richmond Medical Office	23226	Office	Medical	1986	2019	31,116	SF	116.50	3,625,000	3,625,000	3,625,000	6.34500%
34	Loan		1	Mini U Storage - Landmark	22304	Self Storage	Self Storage	1977	NAP	23,925	SF	97.51	2,333,000	2,333,000	2,333,000	6.63000%

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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	ARD Loan (Yes / No)	Interest Accrual Method	Original Interest-Only Period (Mos.)	Remaining Interest-Only Period (Mos.)	Original Term To Maturity / ARD (Mos.)
					8		9	9	9	9
1	Loan	12, 19, 20, 22, 24	1	Brier Creek Commons	0.018892%	6.89111%	428,524.94	NAP	5,142,299.28	NAP	Amortizing Balloon	No	Actual/360	0	0	120
2	Loan	6, 10, 12, 15, 16, 19, 20, 23, 28	4	Central Florida Industrial Portfolio	0.027642%	6.18236%	NAP	221,628.00	NAP	2,659,536.00	Interest Only	No	Actual/360	120	119	120
2.01	Property		1	Orlando International Business Center
2.02	Property		1	Corporex Plaza
2.03	Property		1	Brandywine Business Center
2.04	Property		1	President's Plaza
3	Loan	12, 19, 29	1	Hyatt Regency Indianapolis	0.018892%	7.06111%	268,273.56	NAP	3,219,282.72	NAP	Amortizing Balloon	No	Actual/360	0	0	120
4	Loan	6, 12, 19, 20	3	Cincinnati Multifamily Portfolio	0.018892%	6.89111%	NAP	227,694.10	NAP	2,732,329.20	Interest Only	No	Actual/360	120	118	120
4.01	Property		1	Ferncrest Apartments
4.02	Property		1	Candlewood Apartments
4.03	Property		1	Renata Apartments
5	Loan	1, 12, 13, 19, 24	1	Great Lakes Crossing Outlets	0.018892%	6.50211%	NAP	206,611.55	NAP	2,479,338.60	Interest Only	No	Actual/360	120	116	120
6	Loan	1, 3, 6, 12, 16, 17, 19, 28, 30	42	Oak Street NLP Fund Portfolio	0.028892%	6.10911%	NAP	155,581.25	NAP	1,866,975.00	Interest Only	No	Actual/360	60	57	60
6.01	Property		1	Big Lots - Tremont, PA
6.02	Property		1	Big Lots - Durant, OK
6.03	Property		1	Badcock - LaGrange, GA
6.04	Property		1	Badcock - Mebane, NC
6.05	Property		1	Badcock - Mulberry, FL
6.06	Property		1	NAICO - Chandler, OK
6.07	Property		1	Save Mart Supermarkets - San Pablo, CA
6.08	Property		1	Nation Safe Driver - Boca Raton, FL
6.09	Property		1	Save Mart Supermarkets - Fresno, CA (4)
6.10	Property		1	Save Mart Supermarkets - El Cerrito, CA
6.11	Property		1	Save Mart Supermarkets - Stockton, CA
6.12	Property		1	Save Mart Supermarkets - Modesto, CA (4)
6.13	Property		1	Save Mart Supermarkets - Grass Valley, CA
6.14	Property		1	Save Mart Supermarkets - Fresno, CA (5)
6.15	Property		1	Save Mart Supermarkets - Ceres, CA
6.16	Property		1	Save Mart Supermarkets - Bakersfield, CA
6.17	Property		1	Big Y - Milford, CT
6.18	Property		1	Save Mart Supermarkets - Sparks, NV (2)
6.19	Property		1	Save Mart Supermarkets - Tracy, CA
6.20	Property		1	Save Mart Supermarkets - Folsom, CA
6.21	Property		1	Save Mart Supermarkets - Tracy, CA (2)
6.22	Property		1	Save Mart Supermarkets - Napa, CA
6.23	Property		1	Badcock - Mulberry, FL (4)
6.24	Property		1	Save Mart Supermarkets - Chico, CA
6.25	Property		1	Save Mart Supermarkets - Salinas, CA
6.26	Property		1	Save Mart Supermarkets - Kingsburg, CA
6.27	Property		1	Save Mart Supermarkets - Clovis, CA (3)
6.28	Property		1	Save Mart Supermarkets - Clovis, CA (2)
6.29	Property		1	Save Mart Supermarkets - Vacaville, CA (2)
6.30	Property		1	Save Mart Supermarkets - Elk Grove, CA
6.31	Property		1	Save Mart Supermarkets - Manteca, CA
6.32	Property		1	Save Mart Supermarkets - Fresno, CA (3)
6.33	Property		1	Save Mart Supermarkets - Lodi, CA
6.34	Property		1	Save Mart Supermarkets - Sparks, NV
6.35	Property		1	Save Mart Supermarkets - Carson City, NV
6.36	Property		1	Save Mart Supermarkets - Oakland, CA
6.37	Property		1	Save Mart Supermarkets - Coalinga, CA
6.38	Property		1	Save Mart Supermarkets - Marysville, CA
6.39	Property		1	Save Mart Supermarkets - Jackson, CA
6.40	Property		1	Badcock - Mulberry, FL (3)
6.41	Property		1	Badcock - Mulberry, FL (2)

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-255934-05

BMO 2023-C5 ANNEX A-1 FOOTNOTES

(1)	“BMO” denotes Bank of Montreal as Mortgage Loan Seller, “SMC” denotes Starwood Mortgage Capital LLC as Mortgage Loan Seller, “CREFI” denotes Citi Real Estate Funding Inc. as Mortgage Loan Seller, “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, “3650 REIT” denotes 3650 Real Estate Investment Trust 2 LLC as Mortgage Loan Seller, “BSPRT” denotes BSPRT CMBS Finance, LLC as Mortgage Loan Seller, “KeyBank” denotes KeyBank National Association as Mortgage Loan Seller, and “ZBNA” denotes Zions Bancorporation, N.A. as Mortgage Loan Seller, and “GACC” denotes German American Capital Corporation as Mortgage Loan Seller. With respect to Loan No. 5, Great Lakes Crossing Outlets, the mortgage loan is part of a whole loan that was co-originated by BMO, DBR Investments Co. Limited and Goldman Sachs Bank USA. With respect to Loan No. 6, Oak Street NLP Fund Portfolio, the mortgage loan is part of a whole loan that was co-originated by KeyBank and Wells Fargo Bank, National Association. With respect to Loan No. 7, Harborside 2-3, the mortgage loan is part of a whole loan that was co-originated by CREFI and BMO. With respect to Loan No. 17, Pacific Design Center, the mortgage loan is part of a whole loan that was originated by Goldman Sachs Bank USA, and the mortgage loan was purchased by BMO. With respect to Loan No. 25, Macon GA Portfolio, the mortgage loan is part of a whole loan that was originated by Arbor Private Label, LLC, and the mortgage loan was purchased by BMO. With respect to Loan No. 29, Steiner Portfolio - Chicago 4-Pack, the mortgage loan is part of a whole loan that was originated by Arbor Private Label, LLC, and the mortgage loan was purchased by BMO. With respect to Loan No. 30, Steiner Portfolio - Chicago 3-Pack, the mortgage loan is part of a whole loan that was originated by Arbor Private Label, LLC, and the mortgage loan was purchased by BMO. With respect to Loan No. 32, Limestone Terrace, the mortgage loan is part of a whole loan that was originated by Arbor Private Label, LLC, and the mortgage loan was purchased by BMO.

(2)	With respect to Loan No. 17, Pacific Design Center, the mortgaged property is comprised of 467,582 square feet of design showroom space, 321,786 square feet of office space, 213,502 square feet of lab space, and 50,347 square feet of other space (other space includes non-revenue space, telecommunications, parking, storage, display, and other). With respect to Loan No. 17, Pacific Design Center, in connection with the most recent expansion of the Largest Tenant at the mortgaged property, Cedars Sinai Medical Center, 138,548 square feet of design showroom space is expected to be converted to lab space. The lab space has been turned over to the tenant and all of the borrower obligations have been met; however, the tenant has not yet started its buildout. In connection with such conversion, the City of West Hollywood requires 155,772 square feet of design showroom space to remain vacant as a condition for the tenant to complete the conversion and to thereafter use the space for the permitted uses set forth in its lease (including as lab space). The borrower represented in the Pacific Design Center loan documents that it has the amount of requisite vacant showroom space and covenants that it will maintain such vacant space for as long as is necessary.

(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. 6, Oak Street NLP Fund Portfolio, the Save Mart Supermarkets – Tracy, CA (2) mortgaged property is subject to a ground lease with an expiration date of December 31, 2064 with two extension options of ten years each. The annual ground rent under the lease currently $615,850. With respect to Loan No. 9, 500 Mamaroneck, the Year Built, Year Renovated and Current Occupancy at the mortgaged property is shown as NAP since the mortgaged property is leased fee property.

	With respect to Loan No. 11, Jaylor - Burger King Portfolio, the Burger King #13081 - New Iberia, LA Mortgaged Property is subject to a ground lease with an expiration date of March 28, 2025 with three extension options of five years each. The annual ground rent under the lease is currently $52,272. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the Burger King #07467 - Ruston, LA Mortgaged Property Is subject to a ground lease with an expiration date of June 5,2029 with four extension options of five years each. The annual ground rent under the lease is currently $7,390.34. Notwithstanding that such Mortgaged Property is subject to a ground lease, it is treated as a fee property for all purposes under the Mortgage Loan Agreement.

(4)	In certain cases, the mortgaged properties may have tenants that have executed leases that were included in the underwriting but that have not yet commenced paying rent and/or are not in occupancy. For tenants that are one of the top 5 tenants (by net rentable area leased) for the 15 largest mortgage loans, certain of such tenants have not taken possession or commenced paying rent or sublease a material portion of their property. See “Description of the Mortgage Pool—Tenant Issues— Rights to Sublease” and “--Tenants Not Yet in Occupancy or in a Free Rent Period, Leases Under Negotiation and LOIs” in the prospectus. With respect to Loan No. 7, Harborside 2-3, the Third Largest Tenant, Collectors Universe, representing approximately 8.2% of the net rentable area, is in a free rent period through November 28, 2023. With respect to Loan No, 10, Sayville Plaza, the Fifth Largest Tenant, Chick-Fil-A and Taco Bell have not yet taken possession of their respective premises. There can be no assurance that such tenants will complete their respective improvements, that such tenants’ lease will commence or that such tenants will take possession of the applicable premises and begin paying rent as expected or at all. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the sole tenant GPS Hospitality Partners IV, LLC is subleasing its space to Tasty King of Missouri, LLC with respect to the Burger King #02643 - Gladstone, MO, Burger King #06906 - Warrensburg, MO, Burger King #04330 - Kansas City, MO and Burger King #03685 - Kansas City, MO and Tasty King of Kansas, LLC with respect to Burger King #12313 - Roeland Park, KS, Burger King #02831 - Olathe, KS and Burger King #12264 - Mission, KS. With respect to Loan No. 17, Pacific Design Center, Cedars Sinai Medical Center, the Largest Tenant at the mortgaged property has not yet taken occupancy of 158,244 square feet (60.9% of the net rentable area). Cedars Sinai Medical Center is expected to take occupancy on July 1, 2023 (127,237 square feet), January 1, 2024 (11,311 square feet) and July 1, 2024 (19,696 square feet). With respect to Loan No. 21, Crosswinds Business Park, the Largest Tenant, Spectrum / Charter Communications, initially signed a lease for 67,789 SF commencing in March 2022, which space is being fully utilized. Spectrum / Charter Communications signed a lease for an additional 19,808 commencing in May 2023, which tenant has taken possession of its space, but is not yet open for business in such expansion space. Spectrum / Charter Communications is paying full rent on its initial 67,789 SF and is paying abated rent on its 19,808 SF of expansion space until August 2023, when it will begin paying full rent. At origination, $1,932,421 for tenant improvements and $75,518 was reserved for such space and will be released to the borrower upon confirmation that Spectrum / Charter Communications’ expansion space is open for business, paying unabated rent and has provided an estoppel reasonably satisfactory to the lender.

(5)	With respect to all mortgage loans, with the exceptions of the mortgage loans listed identified in “Description of the Mortgage Pool—Certain Calculations and Definitions” in the prospectus, the Cut-off Date LTV Ratio (%) and the LTV Ratio at Maturity / 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. 14, Orizon Aerostructures, the Appraised Value of $125,000,000 reflects a premium attributed to the value of the Mortgaged Properties as a whole. The sum of the as-is appraised values of each of the individual Mortgaged Properties is $124,950,000. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) based upon the Appraised Value without a portfolio premium are 48.9% and 48.9%, respectively. With respect to Loan No. 21, Crosswinds Business Park, the Appraised Value ($) represents the “as stabilized” appraised value of $21,400,000 as of August 1, 2023, which assumes free rent has burned off and the payment of outstanding tenant improvements totaling $350,000 at the mortgaged property. At origination, the borrower escrowed $2,007,939 for outstanding tenant improvements and free rent. The “as-is” appraised value is $21,100,000. The Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) based upon the “as-is” appraised value are 59.0% and 51.6%, respectively.

	With respect to Loan No. 26, Holiday Inn Express and Suites – Aiken, the Appraised Value ($) of $13,810,000 as of February 1, 2023 assumes that the property improvement plan is escrowed. At origination, the borrowers deposited $1,112,792 into a property improvement plan reserve. On each monthly payment date prior to and including the monthly payment date occurring in April 2024, the borrowers are required to deposit an amount equal to $12,645 with respect to the initial property improvement plan work. In addition, on each monthly payment date during a franchise trigger event period, the borrowers are required to deposit all franchise trigger event excess cash for costs incurred in connection with the property improvement plan work necessary to effect a franchise trigger event cure.

(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. 2, Central Florida Industrial Portfolio ● Loan No. 4, Cincinnati Multifamily Portfolio ● Loan No. 6, Oak Street NLP Fund Portfolio ● Loan No. 11, Jaylor - Burger King Portfolio ● Loan No. 13, Philadelphia Life Science Portfolio ● Loan No. 14, Orizon Aerostructures ● Loan No. 25, Macon GA Portfolio ● Loan No. 29, Steiner Portfolio - Chicago 4-Pack ● Loan No. 30, Steiner Portfolio - Chicago 3-Pack

(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 Controlling Notes and Non-Controlling Notes” in “Description of the Mortgage Pool—The Whole Loans” in the prospectus. With respect to Loan No. 10, Sayville Plaza, the borrower is required to deposit $2,000,000 at origination into a pad holdback reserve account, $1,200,000 of which is allocated for the Chick-Fil A lease and $800,000 of which is allocated for the Taco Bell lease) (the “Pad Holdback Reserve Funds”) to be held as additional cash collateral for the Sayville Plaza Mortgage, portions of which are allocable to gap rent and leasing commissions due under the applicable leases for Taco Bell and Chick-Fil-A. The lender will disburse to the borrower the Pad Holdback Reserve Funds for Taco Bell or Chick-Fil-A, as applicable, upon satisfaction by the borrower, among other conditions set forth in the Sayville Plaza Mortgage Loan documents, of the following conditions (i) on the date the borrower requests such disbursement, no event of default and no trigger period will exist and remain uncured; (ii) the improvements required to be constructed by Taco Bell or Chick-Fil-A, as applicable, to each such tenant’s leased parcel pursuant to each tenant’s respective lease have been fully completed and (iii) Taco Bell or Chick-Fil-A, as applicable, are in possession of their applicable parcel improvements, are open for business and operating, and paying full and unabated rent. With respect to Loan No. 10, Sayville Plaza, the Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / (ARD) (%) calculations have been adjusted to net out the $2,000,000 pad holdback reserve deposited at origination of the Sayville Plaza mortgage loan and are 52.6% and 52.6% respectively. The unadjusted Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) are 56.7% and 56.7% respectively.

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


(9)	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 Central Florida Industrial Portfolio, a Grace Period (Late Payment) and Grace Period (Default) of 5 days is allowed for the monthly payment of principal and interest. In addition, the Grace Period (Default) of 5 days is allowed for the outstanding principal balance due at maturity. With respect to Loan No. 29, Steiner Portfolio - Chicago 4-Pack, a Grace Period (Late Payment) of 5 days is allowed. With respect to Loan No. 30, Steiner Portfolio - Chicago 3-Pack, a Grace Period (Late Payment) of 5 days is allowed. With respect to Loan No. 30, Steiner Portfolio - Chicago 3-Pack, a Grace Period (Default) of 5 days is allowed.

(11)	Intentionally blank

(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. Certain mortgage loans permit the release of a portion of a mortgaged property (or an individual mortgaged property, in connection with a portfolio mortgage loan) under various circumstances, as described in the prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in the prospectus. With respect to Loan No. 1, Brier Creek Commons, defeasance is permitted any time after the earlier of (i) April 20, 2026 and (ii) two years from the closing date of the securitization that includes the last pari passu note of the Brier Creek Commons Whole Loan to be securitized. The assumed lockout period of 25 payments is based on the closing date of this transaction in June 2023. The actual lockout period may be longer. With respect to Loan No. 2, Central Florida Industrial Portfolio, at any time after the date that is two years after the closing date of the BMO 2023-C5 securitization trust, and prior to February 2, 2033, the borrowers may obtain the release of one or more of the Central Florida Industrial Portfolio Properties, provided that, among other things, (i) no event of default has occurred and is continuing, (ii) the borrowers defease a portion of the Central Florida Industrial Portfolio Mortgage Loan equal to 120% of the allocated loan amount of the property being released, (iii) the debt service coverage ratio for the remaining properties following the release based on the immediately preceding trailing 12 month period is equal to or greater than the greater of (a) the amortizing debt service coverage ratio based on the trailing 12 month period immediately preceding such release and (b) 1.35x, and (iv) the loan-to-value ratio after giving effect to such release is equal to or less than 50%. With respect to Loan No. 3, Hyatt Regency Indianapolis, the lockout period will be at least 26 months beginning with and including the first payment date on May 6, 2023. Defeasance of the Hyatt Regency Indianapolis whole loan 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) April 5, 2027. The assumed lockout period of 26 months is based on the expected BMO 2023-C5 securitization closing date in June 2023. The actual lockout period may be longer. With respect to Loan No. 4, Cincinnati Multifamily Portfolio, at any time after the date that is two years after the closing date of the BMO 2023-C5 securitization transaction, the borrowers may release one or more of the Cincinnati Multifamily Portfolio Properties from the lien of the Cincinnati Multifamily Portfolio Mortgage Loan in connection with the sale of such release parcel to a third party subject to satisfaction of the applicable conditions set forth in the Cincinnati Multifamily Portfolio Mortgage Loan documents, including, without limitation, that: (i) no event of default has occurred and is continuing under the Cincinnati Multifamily Portfolio Mortgage Loan documents, and (ii) the borrower defeases the Cincinnati Multifamily Portfolio Mortgage Loan in an amount equal to the greatest of (1) 120% of the allocated loan amount for the individual Cincinnati Multifamily Portfolio Property to be released, and (2) the amount such that (a) the debt service coverage ratio for the undefeased note based on income from the remaining property is not less than 1.45x, (b) the debt yield for the undefeased note based on income from the remaining property is not less than 10.5% and (c) the loan-to-value ratio for the undefeased note for the remaining property does not exceed 65%.

	LA Mortgaged Property has lapsed after its scheduled expiration date of June 5, 2029, the Release Price for Burger King #00501 - Lafayette, LA Mortgaged Property shall be $0.00, (iv) the borrower has delivered a REMIC opinion and (v) if requested by the lender, the borrower delivers a rating agency confirmation. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the lockout period will be at least 25 payment dates beginning with and including the first payment date on June 6, 2023. Prepayment of the Jaylor - Burger King Portfolio whole loan in full is permitted at any time on or after the sixth day of the month that first occurs after the earlier to occur of (i) May 2, 2026 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 25 payments is based on the expected BMO 2023-C5 securitization closing date in June 2023. The actual lockout period may be longer. With respect to Loan No. 13, Philadelphia Life Science Portfolio, in connection with the applicable purchase options held by Frontida Biopharm LLC, the related borrowers have the right to obtain the release of any individual mortgaged property or all of the mortgaged properties, provided that, among other things, (i) the related borrowers pays a purchase price equal to 120% of the allocated loan amount for the applicable mortgaged property plus an amount equal to any and all prepayment premiums, defeasance amounts and/or yield maintenance premiums and (ii) after giving effect to the release of the applicable mortgaged property, the debt service coverage ratio for the remaining mortgaged property (based on the trailing 12 month period immediately preceding the release of the applicable mortgaged property) is equal to or greater than the greater of (a) 1.94x or (b) the debt service coverage ratio for the mortgaged properties immediately preceding the release (based on the trailing 12 month period immediately preceding the release of the applicable mortgaged property). With respect to Loan No. 14, Orizon Aerostructures, the lockout period will be at least 30 payment dates beginning with and including the first payment date in January 2023. Prepayment of the Orizon Aerostructures whole loan in full is permitted at any time after the earlier to occur of (i) November 15, 2026 or (ii) the date that is two years and one day from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 30 payments is based on the closing date of this transaction in June 2023. The actual lockout period may be longer. With respect to Loan No. 17, Pacific Design Center, the lockout period will be at least 28 months beginning with and including the first payment date in March 2023. Defeasance of the Pacific Design Center whole loan 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) January 11, 2026. The assumed lockout period of 28 months is based on the closing date of this transaction in June 2023. The actual lockout period may be longer. With respect to Loan No. 18, La Habra Marketplace, the lockout period will be at least 42 payment dates beginning with and including the first payment date in January 2022. Defeasance of the La Habra Marketplace Whole Loan in full is permitted at any time after the later to occur of (i) December 3, 2024 or (ii) the date that is two years from the closing date of the securitization that includes the last pari passu note to be securitized. The assumed lockout period of 42 payments is based on the closing date of this transaction in June 2023. 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—Existing Mezzanine Debt,” “—Preferred Equity and Preferred Return Arrangements” and “Certain Legal Aspects of the Mortgage Loans” in the prospectus for information related to mortgage loans with subordinate, mezzanine or other additional debt or preferred equity that permit subordinate, mezzanine or other additional debt in the future. With respect to Loan No. 5, Great Lakes Crossing Outlets, the borrower is permitted to enter into a “Property-Assessed Clean Energy loan” (a “PACE Loan”) or any similar indebtedness for an amount not to exceed $5,000,000, subject to the lender’s approval (not to be unreasonably withheld, conditioned or delayed) and delivery of a rating agency confirmation, which is (i) incurred for improvements to the Mortgaged Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Mortgaged Property. The lien resulting from any unpaid and delinquent PACE Loan payments would have property tax lien status.

	With respect to Loan No. 7, Harborside 2-3, the Harborside 2-3 whole loan is structured with a $55,000,000 mezzanine loan (the "Harborside 2-3 Mezzanine Loan") that accrues interest at (i) a rate per annum equal to 7.00% to be paid as part of each payment of the mezzanine monthly debt service payment amount resulting in a mezzanine monthly debt service payment amount of $325,289.35 and (ii) a rate per annum equal to 3.5% that accrues through the term of the Harborside 2-3 Mezzanine Loan and is scheduled to be due and payable on the maturity date resulting in a monthly debt service accrual amount of $162,644.68. The Mezzanine Debt Interest Rate (%), Total Debt Monthly Debt Service ($) and Total Debt Underwritten NCF DSCR (x) are based on an aggregate Harborside 2-3 Mezzanine Loan interest rate of 10.5% per annum. With respect to Loan No. 7, Harborside 2-3, in addition to the interest accruing on the outstanding principal balance of the Harborside 2-3 Mezzanine Loan at a rate of 7.0000% per annum to be paid as part of each monthly debt service payment amount and an additional 3.5000% per annum which shall accrue through the loan term and be due on the maturity date, the outstanding principal balance of the Harborside 2-3 Mezzanine Loan will accrue PIK interest at a rate of 2.29% per annum (the "PIK Interest"). The PIK Interest shall be due and payable together with each mezzanine monthly debt service payment amount if either of the following conditions are not satisfied as of April 6, 2028: (i) the PIK Leasing Condition (as defined below) or (ii) if the Harborside 2-3 Mezzanine Loan is not prepaid in full. If the PIK Leasing Condition has not been satisfied as of April 6, 2028 or the Harborside 2-3 Mezzanine Loan has not been prepaid in full prior to such date, then all accrued PIK Interest will automatically be converted and added to the outstanding principal balance of the Harborside 2-3 Mezzanine Loan as of such date, and become immediately due and payable by the borrowers to lender together with all other outstanding principal. The "PIK Leasing Condition" means delivery by the borrowers of evidence reasonably satisfactory to lender that 75% of the aggregate rentable square feet of the Harborside 2-3 Mortgaged Property and the neighboring Harborside 1 property is leased and occupied by tenants under leases satisfying the requirements set forth in their respective loan documents. With respect to Loan No. 7, Harborside 2-3, the borrowers are permitted to obtain mezzanine financing in connection with the assumption of the Harborside 2-3 Mortgage Loan, provided that the Harborside 2-3 Mezzanine Loan is repaid simultaneously with such assumption. Future mezzanine debt is permitted subject to certain conditions, including, without limitation: (i) no event of default is continuing, (ii) the mezzanine loan is made by a lender reasonably acceptable to the mortgage lender and acceptable to the applicable rating agencies, (iii) the only collateral for such mezzanine loan is the direct equity interest in (x) the mortgage borrower and (y) the equity interest in the sole member entity holding the liquor license for the operation of the property (note – the mortgage loan is secured, in part, by a pledge of the direct equity interest in the holder of the liquor license), (iv) the mezzanine loan documents are reasonably satisfactory to the mortgage lender, (v) the mezzanine loan is non-recourse except for non-recourse carveouts substantially similar to those of the mortgage loan, (vi) the mezzanine lender enters into an intercreditor agreement reasonably acceptable to the mortgage lender and acceptable to the rating agencies, (vii) the mezzanine loan has a fixed rate of interest or a floating rate subject to delivery of an interest rate cap agreement, (viii) the maturity date of the mezzanine loan is not earlier than the maturity date of the Harborside 2-3 Whole Loan, (ix) borrower delivers a rating agency confirmation, (x) the LTV (inclusive of the mezzanine loan) shall not exceed 75%, (xi) the DSCR (whole loan only) as of the date of closing of the mezzanine loan is at least 1.81x and (xii) the DSCR (inclusive of the mezzanine loan) as of the date of closing of the mezzanine loan is at least 1.25x. With respect to Loan No. 7, Harborside 2-3, the Harborside 2-3 whole loan is structured with a $19,000,000 preferred equity investment made by NongHyup Bank, in its capacity as Trustee of Milestone Harbor East Private Investment Trust. The preferred equity investment is made in an entity (the “Pref JV”) that is the indirect owner of one of the two TIC borrowers of the Harborside 2-3 Whole Loan and one of the two TIC owners of the neighboring Harborside 1 property. The preferred equity investment will be repaid only from net cash distributions to the Pref JV from capital transactions with respect to the Harborside 1 property and/or the Harborside 2-3 Mortgaged Property. With respect to Loan No. 17, Pacific Design Center, future mezzanine debt is permitted in an amount up to $50,000,000 subject to the satisfaction of certain conditions including, among others, (i) immediately after giving effect to such debt (x) the combined loan-to-value ratio may not exceed 50.7%, (y) the net cash flow debt yield, as calculated in accordance with the Pacific Design Center whole loan documents, is at least 11.6% and (z) the combined net cash flow debt service coverage ratio, as calculated in accordance with the Pacific Design Center whole loan documents, is at least 1.72x, (ii) execution of a subordination and intercreditor agreement reasonably acceptable to the lender and substantially in the form attached to the loan agreement for the Pacific Design Center whole loan, and (iii) receipt of a rating agency confirmation from each applicable rating agency.

(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.


(15)	In certain cases, Underwritten TI / LC ($) is inclusive of certain credits for upfront reserves taken at closing. With respect to Loan No. 2, Central Florida Industrial Portfolio, a $387,500 credit to tenant improvements and leasing commission and capital expenditures has been underwritten reflecting 1/10th of the TI/LC and capital expenditure deposits at origination. With respect to Loan No. 13, Philadelphia Life Science Portfolio, a $80,000 credit to tenant improvements and leasing commission and capital expenditures has been underwritten reflecting 1/10th of the TI/LC and capital expenditure deposits at origination. With respect to Loan No. 33, Richmond Medical Office, Underwritten TI/LC is inclusive of credit for the $75,000 that was escrowed into the TI/LC reserve at origination.

(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. 2 Central Florida Industrial Portfolio, historical financial information for the trailing-12 months ending December 2022 is not available as the mortgaged properties were acquired by the sponsor between December 2022 through April 2023. The December 2021 T-12 was provided by the seller. With respect to Loan No. 6, Oak Street NLP Fund Portfolio, historical financial information prior to the trailing-12 months ending December 2022 is not available as the mortgaged properties were acquired by the sponsor between May 2019 and August 2022. Each of the single tenant properties is subject to a triple-net lease. The December 2022 T-12 represents partial year financial information for eight assets acquired in 2022. With respect to Loan No. 8, Cross Island Plaza, historical financials prior to 2022 are not available as the mortgaged property was renovated in 2021. With respect to Loan No. 9, 500 Mamaroneck, historical financial information is not available as there was no ground lease in place during the historical period. With respect to Loan No. 10, Sayville Plaza, historical financials are not available as the borrower sponsor acquired and subsequently gut renovated the property in 2021 and is in the final stages of completion. With respect to Loan No. 13 Philadelphia Life Science Portfolio, historical financial information is not available as the sponsor recently acquired the mortgaged properties. With respect to Loan No. 14, Orizon Aerostructures, historical financial information is not available as the borrower recently acquired the Mortgaged Properties. With respect to Loan No. 16, The Penleigh, historical financials prior to 2023 are not available as the mortgaged property was converted from a hotel to a multifamily property in 2022. With respect to Loan No. 20, 801 Bridgeboro Road, historical financials are not available as the borrower sponsor acquired the 801 Bridgeboro Road mortgaged property in November 2022. With respect to Loan No. 21, Crosswinds Business Park, historical financial information prior to 2021 is not available as it was not provided by the previous owner of the mortgaged property. With respect to Loan No. 23, 800 Cesar Chavez, the historical cash flows are not available as the sole tenant, GM Cruise, took possession of the “West Premises”, which is comprised of approximately 84,911 square feet (69.4% of NRA), in November 2020 and concurrently began paying rent on this portion of the Mortgaged Property. GM Cruise took possession of the “East Premises”, which is comprised of approximately 37,449 square feet (30.6% of NRA), in May 2021 and began paying rent on this portion of the Mortgaged Property on December 1, 2021. With respect to Loan No. 28, Quality Inn SeaTac, historical financial information prior to 2022 is not available because the borrower sponsors acquired the mortgaged property in 2021. With respect to Loan No. 31, SureStay Plus SeaTac, historical financial information prior to 2022 is not available because the borrower sponsors acquired the mortgaged property in 2021.


(17)	With respect to Loan No. 6, Oak Street NLP Fund Portfolio, the related borrower has a leasehold interest in the Save Mart Supermarkets – Tracy, CA (2) mortgage property pursuant to a 75-year ground lease for the site which commenced on October 1, 1989 and expires December 31, 2064. The annual ground rent for the ground lease is approximately $615,850. The ground lessee has two, 10-year extension options to December 31, 2084.

(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.

(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. With respect to Loan No. 1, Brier Creek Commons, the Monthly RE Tax Reserve ($) is springing with respect to the taxes attributable to the portion of the mortgaged property on the tax parcel number that is occupied at the time of loan origination by the outparcel tenants Chili’s, McDonalds, and Olive Garden. The borrower is required to make monthly deposits for such taxes upon the earliest of the following: (i) an event of default, (ii) if such tenants are not obligated to make the tax payments themselves, (iii) if such tenants do not actually make said payments, (iv) the borrower fails to deliver to the lender evidence of timely payment prior to any delinquency date or (v) if the tenants’ leases are no longer in full force and effect or either the borrower or such tenant is in default of any of its obligations thereunder beyond applicable notice and cure periods. With respect to Loan No. 2, Central Florida Industrial Portfolio, the borrowers are not required to make a $31,492 monthly deposit into the TI/LC reserve until the balance of the TI/LC reserve falls below $1,000,000, at which point, the monthly deposits will commence until the balance of the TI/LC reserve reaches the cap of $3,500,000. Monthly deposits will then recommence at any time the balance falls below the cap. With respect to Loan No. 2, Central Florida Industrial Portfolio, the related borrowers are not required to make a $5,249 monthly deposit into the replacement reserve, provided that the funds on deposit in the replacement reserve subaccount are equal to or greater than $375,000. With respect to Loan No. 3, Hyatt Regency Indianapolis, the borrower is required to deposit into an eligible account (the “FF&E Reserve Account”) on each monthly payment date, an amount equal to the greater of (i) the FF&E Payment (as hereinafter defined) and (ii) the amount of the deposit (if any) then required by the franchisor on account of FF&E under the franchise agreement. The “FF&E Payment” means an amount equal to 1/12 of four percent (4%) of the greater of (a) the annual gross revenues for the hotel related operations at the Mortgaged Property for the immediately preceding calendar year as reasonably determined by the lender and (b) the projected annual gross revenues for the hotel related operations for the calendar year in which such monthly payment date occurs as set forth in the approved annual budget, or where no approved annual budget exists as of the date of determination, 1/12 of four percent (4%) of the annual gross revenues for the hotel related operations for the immediately preceding calendar year as reasonably determined by lender. The initial FF&E Payment was determined to be approximately $106,694. With respect to Loan No. 3, Hyatt Regency Indianapolis, the borrower is required to deposit into an eligible account (the “Seasonality Reserve Account”) on the Seasonality Reserve Monthly Deposit Dates (as hereinafter defined) (i) between May 2023 and November 2023 an amount equal to $27,945 and (ii) after November 2023, an amount equal to 110% of the quotient of (x) the aggregate Negative Monthly Amounts for the twelve (12) month period divided by (y) the number of months for which there is no Negative Monthly Amount, based on the then current seasonality annual budget. The “Seasonality Reserve Monthly Deposit Dates” mean for the first year, the monthly payment dates occurring in February through November 2023 and (b) thereafter, the monthly payment dates where a deposit to the Seasonality Reserve Account is required as determined by the lender on February 1st of each year. The “Negative Monthly Amount” means, with respect to any monthly payment date, the amount, if any, by which operating income for the Mortgaged Property for the calendar month is insufficient to establish a debt service coverage ratio of 1.00x based on the then current annual budget to be adjusted annually on February 1st of each year by the lender. With respect to Loan No. 4, Cincinnati Multifamily Portfolio, the borrower is required to make a monthly deposit of $9,375 into the replacement reserve account commencing on the date on which the balance of funds in the replacement reserve account is initially less than $112,500, provided however, as long as no event of default is continuing and the property is well maintained (as determined by the lender based on annual inspections) the monthly deposit of $9,375 shall only be required if the replacement reserve account is less than $337,500.

	With respect to Loan No. 31, SureStay Plus SeaTac, on each monthly payment date, the borrower is required to deposit an amount equal to the greater of (i) 4.0% of the gross income during the second calendar month preceding the calendar month in which such monthly payment date occurs and (ii) an amount equal to 1/12th of the aggregate amount, if any, required to be reserved pursuant to any management agreement and the franchise agreement for capital expenditures during the calendar year in which such monthly payment date occurs.

(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. With respect to Loan No. 1, Brier Creek Commons, the TI/LC Cap ($) is equal to $1,250,000. With respect to Loan No. 2 Central Florida Industrial Portfolio, if the TI/LC reserve falls below $1,000,000 a monthly collection of $31,492.00 is required until the reserve reaches its cap of $3,500,000. With respect to Loan No. 2 Central Florida Industrial Portfolio, if the replacement reserve falls below $375,000 a monthly collection of $5,249 is required until the reserve reaches its cap of $375,000. With respect to Loan No. 4, Cincinnati Multifamily Portfolio, the CapEx Reserve Cap ($) is equal to $337,500. With respect to Loan No. 7, Harborside 2-3, the TI/LC Reserve Cap is equal to $15,000,000. On each monthly payment date that the amount in the tenant improvements and leasing commissions reserve account is less than $10,000,000, the borrowers are required to deposit into the tenant improvements and leasing commissions reserve account an amount equal to approximately $133,252. With respect to Loan No. 12, Montreal Beach Resort, the Seasonality Reserve Cap ($) is equal to $1,650,000. During the term of the Mortgage Loan, the borrower will be required to deposit into the Seasonality Reserve: $300,000 on each payment date in July, $650,000 on each payment date in August, $500,000 on each payment date in September, and $200,000 on each payment date in October. With respect to Loan No. 13, Philadelphia Life Science Portfolio, if the replacement reserve falls below $200,000 a monthly collection of $5,022 is required until the reserve reaches its cap of $200,000. With respect to Loan No, 13, Philadelphia Life Science Portfolio, if the TI/LC reserve falls below $550,000 a monthly collection of $ 17,578 is required. With respect to Loan No. 18, La Habra Marketplace, so long as no event of default is continuing, in the event that the balance of funds contained in the replacement reserve subaccount and the leasing reserve subaccount, in the aggregate, is equal to or greater than $1,250,000 (the “Reserve Cap”), then the borrower is not required to pay to the lender the replacement reserve monthly deposit or the leasing reserve monthly deposit; provided, however, that upon such time as the balance of funds contained in the replacement reserve subaccount and the leasing reserve subaccount, in the aggregate, has been reduced to an amount less than the Reserve Cap, the borrower is required to recommence paying to the lender the leasing reserve monthly deposit and the replacement reserve monthly deposit until such time as the balance of funds then contained in the leasing reserve subaccount and the replacement reserve subaccount, in the aggregate, is equal to or greater than the Reserve Cap. With respect to Loan No. 20, 801 Bridgeboro Road, the TI/LC Reserve Cap ($) is equal to $500,000. On each monthly payment date that the amount in the tenant improvements and leasing commissions reserve account is less than $500,000, the borrower is required to deposit into the tenant improvements and leasing commissions reserve account an amount equal to approximately $6,188. With respect to Loan No. 22, Loves Park Tech Center, so long as no event of default is continuing, in the event that the balance of funds contained in the replacement reserve subaccount is equal to or greater than $200,000 (the “Reserve Cap”), then the borrower is not required to pay to the lender the replacement reserve monthly deposit; provided, however, that upon such time as the balance of funds contained in the replacement reserve subaccount has been reduced to an amount less than the Reserve Cap, the borrower is required to recommence paying to the lender the replacement reserve monthly deposit until such time as the balance of funds then contained in the replacement reserve subaccount is equal to or greater than the Reserve Cap. With respect to Loan No. 33, Richmond Medical Office, the TI/LC Reserve Cap ($) is equal to $300,000.

(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. With respect to Loan No. 33, Richmond Medical Office, the Second Largest Tenant, Infusion Solutions, currently occupying Suite 203, is expected to move to Suite 200 upon completion of the build-out of Suite 200, which is expected to be completed in September 2023. Infusion Solutions has signed a lease for Suite 200 and is expected to take occupancy and commence paying rent on the earlier of (i) September 1, 2023, and (ii) the date on which completion of the build-out is substantially complete in accordance with the related lease. The Largest Tenant, CRP, is expected to take occupancy of Suite 203 upon Infusion Solutions’ vacancy of Suite 203, and has entered into an assignment and assumption, dated as of April 27, 2023, between Infusion Solutions, as assignor, CRP, as assignee, and the related borrower, as landlord, to assume Infusion Solution’s lease for Suite 203. There can be no assurance that such build out will be completed or that such tenants will take possession of the applicable premises and begin paying rent as expected or at all.

(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. With respect to Loan No. 1, Brier Creek Commons, four tenants, Olive Garden, Truist Bank, McDonald’s, and Chili’s are ground lease tenants and own their improvements with no associated net rentable square feet. With respect to Loan No. 15, GRM Indianapolis, the sole tenant, GRM Lease Holding, LLC, is a borrower affiliate. The related lease is guaranteed by the loan sponsors and runs through May 2038, approximately ten years beyond the mortgage loan maturity. With respect to Loan No. 33, Richmond Medical Office, the Largest Tenant, CRP, occupies one suite totaling 700 square feet with a lease expiration date of June 30, 2024, one suite totaling 1,989 square feet with a lease expiration date of February 28, 2027, two suites totaling 8,102 square feet with a lease expiration date of March 31, 2030 and one suite totaling 3,433 square feet with a lease expiration date of April 30, 2030.

(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. 2, Central Florida Industrial Portfolio, (i) the Largest Tenant at the Brandywine Business Center property, Joffrey’s Coffee and Tea Company, has a one-time right to terminate 5,304 square feet of its space if it does not renew its contract with The Walt Disney Company by October 31, 2024, (ii) the Second Largest Tenant at the President’s Plaza mortgaged property, E-Med Source (Angel’s Care), may terminate its lease at any time provided that the tenant gives six months prior written notice and pays a termination fee, (iii) the Fifth Largest Tenant at the President’s Plaza property, SunRun, Inc., representing approximately 10.5% of the net rentable area may terminate its lease at any time after December 31, 2023 provided that the tenant gives 120 days’ prior written notice and (iv) the Third Largest Tenant at the Corporex Plaza mortgaged property, Inspectorate America Corp, has a one-time right to terminate its space on November 1, 2024 provided that the tenant gives written notice on or before February 1, 2024. With respect to Loan No. 17, Pacific Design Center, the Largest Tenant, Cedars Sinai Medical Center, has 46,151 square feet expiring on May 31, 2030, 9,000 square feet expiring on August 31, 2032, 97,053 square feet expiring on June 30, 2033, and 107,449 square feet expiring on June 30, 2038. The Third Largest Tenant, Pluto, Inc., leases 350 square feet on a month-to-month basis and has 35,500 square feet expiring on November 30, 2028. The Fifth Largest Tenant, Kneedler Fauchere, leases display space (one square foot) on a month-to-month basis and has 17,761 square feet expiring on January 31, 2028. With respect to Loan No. 17, Pacific Design Center, the Largest Tenant, Cedars Sinai Medical Center, has the right to terminate the lease with respect to the space (the “Fifth Amendment Space”) leased pursuant to the fifth amendment of lease to the building known as the “blue building”, dated as of June 10, 2022, between the borrower and Cedars Sinai Medical Center (the “Fifth Amendment”) based on the following circumstances. Subject to the tenant fulfilling certain obligations, the borrower is required to use best efforts to cause the City of West Hollywood (the “City”) to confirm in writing that, among other things, the tenant’s lawful ability to use the entirety of the Fifth Amendment Space for the permitted use set forth in the lease and the vacancy requirements set forth by the City are satisfied (the “City Confirmation”). Should an acceptable City Confirmation not issue (other than as arising or related to the tenant’s plans), the tenant will be entitled to terminate the Fifth Amendment; however, after the tenant has provided notice of its intent to terminate the lease, the borrower has the right to obtain the City Confirmation within 60 days of such notice of termination. If no acceptable City Confirmation is obtained within the 60-day period,

	the tenant may terminate the lease by providing 10 days’ written notice. In addition, the borrower is seeking to permanently amend the development plan governing the Pacific Design Center Mortgaged Property to remove certain requirements. Should the borrower’s pursuit of the development plan amendment negatively impact the tenant’s rights under its various leases, including its permitted use, the allocated parking or increase in the tenant’s operating expenses, the tenant will have the right of termination as to space leased under the Fifth Amendment. In the case of any termination described in this paragraph, the borrower will be liable for all of the tenant’s reasonable actual out-of-pocket costs and expenses incurred in connection with the Fifth Blue Amendment (including rent paid thereunder prior to the date of tenant’s termination), certain project conformity approval from the City and design, planning and engineering efforts associated with the Fifth Blue Amendment Space. In the event the borrower fails to reimburse the tenant for such costs within ten business days of demand, the tenant is entitled to offset the same against rents coming due under the other leases that the tenant has at the mortgaged property. With respect to Loan No. 17, Pacific Design Center, the Third Largest Tenant, Pluto, Inc., has the ongoing right to terminate the lease for its 35,500 square feet of office space, the G900 suite, upon providing the borrower written notice (the “Early Termination Notice”), effective on or at any date (the “Early Termination Date”) after August 31, 2026 subject to, among other conditions, (i) the Early Termination Date being no earlier than 180 days following delivery of the Early Termination Notice and (ii) Pluto, Inc. paying to the borrower a termination fee equaling the sum of (x) the total amount of the base rent abated under the lease, (y) the borrower’s tenant improvement allowance contribution and (z) the brokerage commissions paid and payable by the borrower in respect of the lease, each amortized over the term of the lease using a straight-line method of calculation. With respect to Loan No. 21, Crosswinds Business Park, the Second Largest Tenant, GSA - US Marshals Service, has the right to terminate its lease at any time after November 2036 with 120 days’ notice.

(24)	With respect to Loan No. 1, Brier Creek Commons, Uses: Other Uses ($) consists of funds from the loan proceeds the borrower sponsor used to buy out a corporate equity partner in the non-recourse carveout guarantor, AAC Consolidated Properties, LLC. With respect to Loan No. 5, Great Lakes Crossing Outlets, for so long as one or more of The Taubman Realty Group LLC (“TRG”), Simon Property Group, L.P. (“SPG LP”) or Simon Property Group, Inc. (“Simon Inc.”) or an affiliate of TRG, SPG LP. or Simon Inc. is the 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, plus all of the reasonable out-of-pocket costs and expenses (including court costs and reasonable attorneys’ fees) incurred by the lender in the enforcement of the related guaranty or the preservation of the lender’s rights under such guaranty.

(25)	Each letter identifies a group of related borrowers.

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

(27)	Intentionally blank

(28)	With respect to Loan No. 2, Central Florida Industrial Portfolio, (i) SMALL BAY I BRANDYWINE DST entered into a master lease with NREA SB I BRANDYWINE LEASECO, LLC on April 28, 2023, for a 20-year term with an expiration date on April 28, 2043, (ii) SMALL BAY I CORPOREX DST entered into a master lease with NREA SB I CORPOREX LEASECO, LLC on April 28, 2023, for a 20-year term with an expiration date on April 28, 2043, (iii) SMALL BAY I ORLANDO DST entered into a master lease with NREA SB I ORLANDO LEASECO, LLC on April 28, 2023, for a 20-year term with an expiration date on April 28, 2043 and (iv) SMALL BAY I PRESIDENTS DST entered into a master lease with NREA SB I PRESIDENTS LEASECO, LLC on April 28, 2023, for a 20-year term with an expiration date on April 28, 2043. With respect to Loan No. 6, Oak Street NLP Fund Portfolio, (i) Save Mart Portfolio Owner NLP CA LLC and Save Mart Portfolio Owner NLP NV LLC entered into a master lease with Save Mart Supermarkets on March 9, 2021, for a 24-year term with an expiration date on November 30, 2044 (ii) W.S. Badcock Corporation entered into a master lease with BCDC Portfolio Owner LLC on June 17, 2022, for a 17-year term with an expiration date on June 30, 2039 and (iii) W.S. Badcock Corporation entered into a master lease with BCHQ Owner LLC on August 2, 2022, for a 17-year term with an expiration date on August 31, 2039.

	With respect to Loan No. 11, Jaylor - Burger King Portfolio, the borrowers entered into two master leases, one of which (for 90 of the properties) is dated as of February 28, 2005, as amended by the first amendment dated March 3, 2014, and as further amended by the second amendment dated May 2, 2023 between JL Holdings I, LLC and GPS Hospitality Partners IV, LLC and the other of which (for 9 of the properties) is dated as of February 28, 2005, as amended by the first amendment dated March 3, 2014, as further amended by the second amendment dated May 2, 2023 between JL Group Holdings I, LLC and GPS Hospitality Partners IV, LLC. The master leases expire June 5, 2034, with options to renew though June 5, 2049, except with respect to the ground lease properties as discussed in footnote 4, the master lease term is tied to the ground lease term for the respective ground lease property. With respect to Loan No. 13, Philadelphia Life Science Portfolio, (i) NEXPOINT DUNGAN DST entered into a master lease with NREA DUNGAN LEASECO, LLC on April 12, 2023, for a 20-year term with an expiration date on April 12, 2043 and (ii) NEXPOINT ORTHODOX DST entered into a master lease with NREA ORTHODOX LEASECO, LLC on April 12, 2023, for a 20-year term with an expiration date on April 12, 2043. Each master lease has four renewal terms for five years each. With respect to Loan No. 14, Orizon Aerostructures, OZN Chanute (Multi) LLC entered into a master lease with Orizon Aerostructures, LLC on October 13, 2022, with an expiration date on December 31, 2047.

(29)	Property Located Within a Qualified Opportunity Zone (Y/N) reflects mortgaged properties that are located in qualified opportunity zones ("QOZs") under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ. With respect to Loan No. 3, Hyatt Regency Indianapolis, the mortgaged property is located in a Qualified Opportunity Zone. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the Burger King #04581 - Foley, AL, Burger King #04130 - Vicksburg, MS, Burger King #09788 - Walker, LA, Burger King #01465 - Laurel, MS, Burger King #05029 - Pineville, LA, Burger King #07467 - Ruston, LA, Burger King #05035 - Tuscaloosa, AL, Burger King #12661 - Baton Rouge, LA, Burger King #06906 - Warrensburg, MO, Burger King #05981 - Meridian, MS, Burger King #09115 - Meridian, MS, Burger King #11095 - Tuscaloosa, AL, Burger King #04016 - Mobile, AL, Burger King #10800 - Livingston, AL, Burger King #12752 - Lafayette, LA and Burger King #01537 - Lafayette, LA mortgaged properties are located in a Qualified Opportunity Zone.

(30)	With respect to Loan No. 6, Oak Street NLP Fund Portfolio, pursuant to the Save Mart Supermarkets master lease, the tenant was required to provide a letter of credit in the amount equal to 18 months of the then-current base rent under the Save Mart Supermarkets master lease. The borrower may draw on the letter of credit to satisfy any such unpaid obligation of Save Mart Supermarkets and Save Mart Supermarkets will be required to replenish the letter of credit to the original amount. With respect to Loan No. 11, Jaylor - Burger King Portfolio, if an immediate repair is not completed by the applicable immediate repair deadline, then, the borrowers will (i) deposit or cause to be deposited into an eligible account the amount applicable to the immediate repair that has not been completed and (ii) cause all remaining immediate repairs to be completed promptly thereafter. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the Burger King #01537 - Lafayette, LA mortgaged property was appraised for $0 as the appraiser concluded that the rental income attributable to the mortgaged property was less than the ground rent payment by $1,570. With respect to Loan No. 11, Jaylor - Burger King Portfolio, the Burger King #00501 - Lafayette, LA mortgaged property has an allocated loan amount of $0 as the fully extended ground lease maturity is prior to the Jaylor - Burger Kind Portfolio whole loan maturity date. However, the mortgaged property is included within the collateral.

	With respect to Loan No. 12, Montreal Beach Resort, the restaurant and liquor store at the Mortgaged Property (representing approximately 47.1% of the underwritten revenue at the Mortgaged Property) is operated by Madison Cape May F.B. LLC (“F&B Operator”), an entity that is a wholly-owned subsidiary of the related guarantor, pursuant to a lease between the borrower and F&B Operator that expires on December 31, 2046. Under the lease, F&B Operator is required to pay base rent in the amount of $7,325 per month plus additional rent (which additional rent includes revenue from the restaurant and liquor store for the prior month).

(31)	With respect to Loan No. 15, GRM Indianapolis, the UW NOI is greater than Most Recent NOI because the loan sponsor affiliate recently executed a new 15-year, triple-net lease at a market rental rate of $5.50 PSF. Additionally, the loan sponsor personally guarantees the lease. With respect to Loan No. 17, Pacific Design Center, the increase from Most Recent NOI ($) to Underwritten Net Operating Income ($) is primarily driven by rent from additional executed Cedars Sinai Medical Center leases with start dates after the TTM 9/30/2022 period as well as the associated credit tenant rent steps. With respect to Loan No. 21, Crosswinds Business Park, the loan sponsor acquired the mortgaged property in December 2020. After a prior tenant gave its notice of non-renewal, the loan sponsor executed a lease with Spectrum / Charter Communications (67,789 SF; $1,169,360 underwritten base rent), which lease commenced in March 2022. Subsequently, Spectrum / Charter Communications signed an expansion lease (19,808 SF; $302,072 underwritten base rent), which lease commenced in May 2023. Spectrum / Charter Communications is paying full rent on its initial 67,789 SF and is paying abated rent on its 19,808 SF of expansion space until August 2023, when it will begin paying full rent.

(32)	Intentionally blank

(33)	With respect to Loan No. 7, Harborside 2-3, the borrowers own the related mortgaged property as tenants–in–common. With respect to Loan No. 23, 800 Cesar Chavez, the borrowers own the Mortgaged Property as tenants-in-common.