BANK5 2023-5YR4 Disclaimer

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-257991) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.

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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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.

This free writing prospectus has been prepared by the underwriters for information purposes only and does not constitute, in whole or in part, a prospectus for the purposes of (i) Regulation (EU) 2017/1129 (as amended), (ii) such Regulation as it forms part of UK domestic law, or (iii) Part VI of the UK Financial Services and Markets Act 2000, as amended; and does not constitute an offering document for any other purpose.

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

The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein. As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. None of Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Academy Securities, Inc., Drexel Hamilton, LLC, Siebert Williams Shank & Co., 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.

Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, a member of NYSE, FINRA, NFA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC are distinct entities from affiliated banks and thrifts.

“BofA Securities” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, locally registered entities.

J.P. Morgan is the marketing name for the investment banking businesses of JPMorgan Chase & Co. and its subsidiaries worldwide. Securities, syndicated loan arranging, financial advisory and other investment banking activities are performed by JPMS and its securities affiliates, and lending, derivatives and other commercial banking activities are performed by JPMorgan Chase Bank, National Association and its banking affiliates. JPMS is a member of SIPC and the NYSE.

IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES

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

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

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

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) any representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

ANNEX A-1 — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS AND MORTGAGED PROPERTIES



Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %	Administrative Fee Rate %⁽²⁾	Net Mortgage Rate %	Monthly Debt Service (P&I) ($)	Monthly Debt Service (IO) ($)	Annual Debt Service (P&I) ($)	Annual Debt Service (IO) ($)
1.00	Loan	5	1	Westfarms	1974	2013	501,990	SF	482.08	74,000,000	74,000,000	74,000,000	7.79500%	0.01851%	7.77649%	NAP	487,367.94	NAP	5,848,415.28
2.00	Loan	6	1	Renaissance Dallas Addison Hotel	1983	2018-2021	528	Rooms	136,363.64	72,000,000	72,000,000	72,000,000	7.82500%	0.01976%	7.80524%	NAP	476,020.83	NAP	5,712,249.96
3.00	Loan	5, 7, 8	1	Nvidia Santa Clara	1996-1999; 2013	2015-2023	551,233	SF	235.83	70,000,000	70,000,000	70,000,000	6.876115385%	0.01851%	6.85761%	NAP	406,677.66	NAP	4,880,131.92
4.00	Loan	9	1	Market Heights	2008	NAP	418,693	SF	131.36	55,000,000	55,000,000	55,000,000	7.96000%	0.01976%	7.94024%	NAP	369,900.46	NAP	4,438,805.52
5.00	Loan	6, 10, 11	1	The Westin Rancho Mirage	1991	2020-2022	512	Rooms	97,656.25	50,000,000	50,000,000	50,000,000	8.23000%	0.01976%	8.21024%	NAP	347,679.40	NAP	4,172,152.80
6.00	Loan	12	1	The Prado	1973	2008	302,541	SF	138.82	42,000,000	42,000,000	42,000,000	8.80000%	0.01851%	8.78149%	NAP	312,277.78	NAP	3,747,333.36
7.00	Loan		1	Market Center at Aliana	2017-2019	NAP	176,933	SF	209.12	37,000,000	37,000,000	37,000,000	7.03000%	0.01976%	7.01024%	NAP	219,768.87	NAP	2,637,226.44
8.00	Loan		13	ExchangeRight Net Leased Portfolio #65	Various	NAP	412,363	SF	80.27	33,100,000	33,100,000	33,100,000	5.82000%	0.01976%	5.80024%	NAP	162,764.65	NAP	1,953,175.80
8.01	Property		1	FedEx Ground - Mills River, NC	2022	NAP	250,955	SF		17,724,502	17,724,502	17,724,502
8.02	Property		1	Tractor Supply - St. Charles, IL	2022	NAP	19,100	SF		2,513,411	2,513,411	2,513,411
8.03	Property		1	Tractor Supply - Searcy, AR	2022	NAP	23,957	SF		2,432,333	2,432,333	2,432,333
8.04	Property		1	Tractor Supply - Fordyce, AR	2022	NAP	19,097	SF		2,432,333	2,432,333	2,432,333
8.05	Property		1	Tractor Supply - Clarksville, VA	2023	NAP	21,930	SF		2,297,204	2,297,204	2,297,204
8.06	Property		1	Dollar Tree - Oklahoma City, OK	2023	NAP	9,950	SF		855,821	855,821	855,821
8.07	Property		1	Dollar General - Waycross, GA	2011	NAP	10,640	SF		779,247	779,247	779,247
8.08	Property		1	Dollar General - Baton Rouge, LA	2022	NAP	10,640	SF		765,734	765,734	765,734
8.09	Property		1	Dollar General - Lexington Park, MD	2017	NAP	9,026	SF		754,474	754,474	754,474
8.10	Property		1	Dollar General - Victoria, TX	2023	NAP	10,640	SF		743,213	743,213	743,213
8.11	Property		1	Dollar General - South Bend, IN	2011	NAP	9,002	SF		653,126	653,126	653,126
8.12	Property		1	Dollar General - Stockbridge, GA	2011	NAP	9,026	SF		585,562	585,562	585,562
8.13	Property		1	Family Dollar - Leland, NC	2015	NAP	8,400	SF		563,040	563,040	563,040
9.00	Loan	5	1	11 West 42nd Street	1927	2018	960,568	SF	285.25	31,333,334	31,333,334	31,333,334	7.44000%	0.01976%	7.42024%	NAP	196,964.82	NAP	2,363,577.84
10.00	Loan	13	4	Stirling Hotel Portfolio	Various	Various	405	Rooms	74,567.90	30,200,000	30,200,000	30,200,000	8.50600%	0.01976%	8.48624%	NAP	217,040.83	NAP	2,604,489.96
10.01	Property		1	Hampton Inn Buford	2000	2019	92	Rooms		10,000,000	10,000,000	10,000,000
10.02	Property		1	Residence Inn Jacksonville Butler Boulevard	1997	2018	120	Rooms		8,000,000	8,000,000	8,000,000
10.03	Property		1	Residence Inn Hartford Manchester	2000	2015	96	Rooms		7,700,000	7,700,000	7,700,000
10.04	Property		1	SpringHill Suites Buford	2001	2023	97	Rooms		4,500,000	4,500,000	4,500,000
11.00	Loan	5	1	McKesson Phase 2	2022	NAP	197,671	SF	388.02	30,000,000	30,000,000	30,000,000	5.14000%	0.02976%	5.11024%	NAP	130,284.72	NAP	1,563,416.64
12.00	Loan		1	Shops at La Palmera	1985	2022	218,444	SF	135.05	29,500,000	29,500,000	29,500,000	7.60500%	0.01976%	7.58524%	NAP	189,552.86	NAP	2,274,634.32
13.00	Loan		1	RV Storage Depot	1978	2021	1,489,149	SF	18.80	28,000,000	28,000,000	28,000,000	8.55000%	0.01976%	8.53024%	NAP	202,270.83	NAP	2,427,249.96
14.00	Loan	5, 14	13	Merit Hill Self Storage	Various	Various	832,976	SF	102.04	21,250,000	21,250,000	21,250,000	7.03000%	0.01851%	7.01149%	NAP	126,218.61	NAP	1,514,623.32
14.01	Property		1	2615 East 12th Street	1975	2004	88,480	SF		4,525,000	4,525,000	4,525,000
14.02	Property		1	Parkglenn Self-Storage	2008	NAP	75,527	SF		2,266,250	2,266,250	2,266,250
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	1984; 2002	NAP	51,157	SF		2,164,250	2,164,250	2,164,250
14.04	Property		1	30690 Aldine Westfield Rd	2017	NAP	109,300	SF		2,133,000	2,133,000	2,133,000
14.05	Property		1	13404 E Broncos Pkwy	2016	NAP	64,460	SF		1,762,750	1,762,750	1,762,750
14.06	Property		1	3803 N Navarro St	1998	NAP	81,250	SF		1,568,500	1,568,500	1,568,500
14.07	Property		1	2102 NW Stallings Dr	1998	NAP	57,100	SF		1,254,750	1,254,750	1,254,750
14.08	Property		1	2005 W Wheeler Ave	1998	NAP	56,950	SF		1,199,750	1,199,750	1,199,750
14.09	Property		1	3817 Gulf Freeway	2003	NAP	71,925	SF		1,113,500	1,113,500	1,113,500
14.10	Property		1	1600 E General Cavazos Blvd	2000	NAP	56,550	SF		1,066,500	1,066,500	1,066,500
14.11	Property		1	11615 Rubina Pl	2011	NAP	32,700	SF		847,000	847,000	847,000
14.12	Property		1	4222 N Main St	1986	2022	66,250	SF		799,750	799,750	799,750
14.13	Property		1	12 Irongate Drive	1984	NAP	21,327	SF		549,000	549,000	549,000
15.00	Loan	5, 15, 16	1	Short Pump Town Center	2003	2014	635,494	SF	283.24	20,000,000	20,000,000	20,000,000	8.30300%	0.01976%	8.28324%	NAP	140,305.32	NAP	1,683,663.84
16.00	Loan	5, 17	1	1201 Third Avenue	1988	NAP	1,129,710	SF	150.48	20,000,000	20,000,000	20,000,000	5.58500%	0.01976%	5.56524%	NAP	94,376.16	NAP	1,132,513.92
17.00	Loan	5, 18, 19, 20, 21, 22	1	Philadelphia Marriott Downtown	1990; 1995	2023	1,408	Rooms	152,698.86	20,000,000	20,000,000	20,000,000	8.70500%	0.01851%	8.68649%	NAP	147,098.38	NAP	1,765,180.56
18.00	Loan		1	Springhill Suites Chattanooga	2012	2019; 2020	116	Rooms	122,413.79	14,200,000	14,200,000	14,200,000	8.02000%	0.01976%	8.00024%	NAP	96,221.44	NAP	1,154,657.28
19.00	Loan	23	10	My Place Communities MHC Portfolio	Various	NAP	422	Pads	30,805.69	13,000,000	13,000,000	13,000,000	7.66900%	0.01976%	7.64924%	NAP	84,234.73	NAP	1,010,816.76
19.01	Property		1	Olde Towne Village	2005	NAP	26	Pads		3,154,000	3,154,000	3,154,000
19.02	Property		1	Thorn Hollow	1970	NAP	46	Pads		1,929,750	1,929,750	1,929,750
19.03	Property		1	Heritage Estates	1946	NAP	58	Pads		1,466,173	1,466,173	1,466,173
19.04	Property		1	Riverside Estates	1959	NAP	71	Pads		1,190,483	1,190,483	1,190,483
19.05	Property		1	North Hill	1964	NAP	43	Pads		1,099,750	1,099,750	1,099,750
19.06	Property		1	Twin Valley	1975	NAP	36	Pads		1,079,000	1,079,000	1,079,000
19.07	Property		1	Pleasant Lake	1969	NAP	56	Pads		971,183	971,183	971,183
19.08	Property		1	Pearl Beach	1970	NAP	29	Pads		914,792	914,792	914,792
19.09	Property		1	Woodmont	1939	NAP	33	Pads		731,207	731,207	731,207
19.10	Property		1	Cattail Estates	1965	NAP	24	Pads		463,662	463,662	463,662
20.00	Loan	24, 25	1	TJ Maxx Centre	1987; 1991	2002	166,165	SF	74.32	12,350,000	12,350,000	12,350,000	7.62000%	0.01976%	7.60024%	NAP	79,511.70	NAP	954,140.40
21.00	Loan	5, 26	1	1825 K Street NW	1966	2019	260,419	SF	161.28	10,000,000	10,000,000	10,000,000	7.54700%	0.01851%	7.52849%	NAP	63,765.16	NAP	765,181.92
22.00	Loan		1	Spring Park Plaza	1975	2006	137,541	SF	69.80	9,600,000	9,600,000	9,600,000	8.09330%	0.01976%	8.07354%	NAP	65,645.66	NAP	787,747.92
23.00	Loan		1	Locust Grove Village	2002	2012	111,250	SF	51.24	5,700,000	5,700,000	5,700,000	7.62000%	0.01976%	7.60024%	NAP	36,697.71	NAP	440,372.52
24.00	Loan		1	Two Rivers Plaza	1994	NAP	57,900	SF	89.81	5,200,000	5,200,000	5,200,000	6.73500%	0.01976%	6.71524%	NAP	29,590.35	NAP	355,084.20
25.00	Loan		1	Chase Bank	1899	2023	3,002	SF	1,678.88	5,040,000	5,040,000	5,040,000	6.62000%	0.01976%	6.60024%	NAP	28,190.17	NAP	338,282.04
26.00	Loan		1	Addison Apartments III	1967	2022	30	Units	103,333.33	3,100,000	3,100,000	3,100,000	8.24400%	0.01976%	8.22424%	NAP	21,592.79	NAP	259,113.48
27.00	Loan		1	City Line Albany Post	2001-2019	NAP	23,700	SF	107.59	2,550,000	2,550,000	2,550,000	8.07100%	0.01976%	8.05124%	NAP	17,389.08	NAP	208,668.96



Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Amortization Type	ARD Loan (Yes / No)	Interest Accrual Method	Original Interest-Only Period (Mos.)	Remaining Interest-Only Period (Mos.)	Original Term To Maturity / ARD (Mos.)	Remaining Term To Maturity / ARD (Mos.)	Original Amortization Term (Mos.)	Remaining Amortization Term (Mos.)	Origination Date	Seasoning (Mos.)	Payment Due Date	First Payment Date	First P&I Payment Date	Maturity Date or Anticipated Repayment Date	Final Maturity Date
1.00	Loan	5	1	Westfarms	Interest Only	No	Actual/360	60	57	60	57	0	0	8/31/2023	3	6	10/6/2023	NAP	9/6/2028	NAP
2.00	Loan	6	1	Renaissance Dallas Addison Hotel	Interest Only	No	Actual/360	60	58	60	58	0	0	9/21/2023	2	1	11/1/2023	NAP	10/1/2028	NAP
3.00	Loan	5, 7, 8	1	Nvidia Santa Clara	Interest Only	No	Actual/360	60	60	60	60	0	0	11/9/2023	0	1	1/1/2024	NAP	12/1/2028	NAP
4.00	Loan	9	1	Market Heights	Interest Only	No	Actual/360	60	59	60	59	0	0	10/12/2023	1	1	12/1/2023	NAP	11/1/2028	NAP
5.00	Loan	6, 10, 11	1	The Westin Rancho Mirage	Interest Only	No	Actual/360	60	59	60	59	0	0	10/19/2023	1	11	12/11/2023	NAP	11/11/2028	NAP
6.00	Loan	12	1	The Prado	Interest Only	No	Actual/360	60	60	60	60	0	0	11/10/2023	0	5	1/5/2024	NAP	12/5/2028	NAP
7.00	Loan		1	Market Center at Aliana	Interest Only	No	Actual/360	60	58	60	58	0	0	9/7/2023	2	1	11/1/2023	NAP	10/1/2028	NAP
8.00	Loan		13	ExchangeRight Net Leased Portfolio #65	Interest Only	No	Actual/360	60	59	60	59	0	0	10/30/2023	1	1	12/1/2023	NAP	11/1/2028	NAP
8.01	Property		1	FedEx Ground - Mills River, NC
8.02	Property		1	Tractor Supply - St. Charles, IL
8.03	Property		1	Tractor Supply - Searcy, AR
8.04	Property		1	Tractor Supply - Fordyce, AR
8.05	Property		1	Tractor Supply - Clarksville, VA
8.06	Property		1	Dollar Tree - Oklahoma City, OK
8.07	Property		1	Dollar General - Waycross, GA
8.08	Property		1	Dollar General - Baton Rouge, LA
8.09	Property		1	Dollar General - Lexington Park, MD
8.10	Property		1	Dollar General - Victoria, TX
8.11	Property		1	Dollar General - South Bend, IN
8.12	Property		1	Dollar General - Stockbridge, GA
8.13	Property		1	Family Dollar - Leland, NC
9.00	Loan	5	1	11 West 42nd Street	Interest Only	No	Actual/360	60	55	60	55	0	0	6/30/2023	5	6	8/6/2023	NAP	7/6/2028	NAP
10.00	Loan	13	4	Stirling Hotel Portfolio	Interest Only	No	Actual/360	60	60	60	60	0	0	11/16/2023	0	1	1/1/2024	NAP	12/1/2028	NAP
10.01	Property		1	Hampton Inn Buford
10.02	Property		1	Residence Inn Jacksonville Butler Boulevard
10.03	Property		1	Residence Inn Hartford Manchester
10.04	Property		1	SpringHill Suites Buford
11.00	Loan	5	1	McKesson Phase 2	Interest Only	No	Actual/360	60	47	60	47	0	0	10/27/2022	13	5	12/5/2022	NAP	11/5/2027	NAP
12.00	Loan		1	Shops at La Palmera	Interest Only	No	Actual/360	60	60	60	60	0	0	11/15/2023	0	1	1/1/2024	NAP	12/1/2028	NAP
13.00	Loan		1	RV Storage Depot	Interest Only	No	Actual/360	60	59	60	59	0	0	10/26/2023	1	1	12/1/2023	NAP	11/1/2028	NAP
14.00	Loan	5, 14	13	Merit Hill Self Storage	Interest Only	No	Actual/360	60	58	60	58	0	0	9/22/2023	2	6	11/6/2023	NAP	10/6/2028	NAP
14.01	Property		1	2615 East 12th Street
14.02	Property		1	Parkglenn Self-Storage
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive
14.04	Property		1	30690 Aldine Westfield Rd
14.05	Property		1	13404 E Broncos Pkwy
14.06	Property		1	3803 N Navarro St
14.07	Property		1	2102 NW Stallings Dr
14.08	Property		1	2005 W Wheeler Ave
14.09	Property		1	3817 Gulf Freeway
14.10	Property		1	1600 E General Cavazos Blvd
14.11	Property		1	11615 Rubina Pl
14.12	Property		1	4222 N Main St
14.13	Property		1	12 Irongate Drive
15.00	Loan	5, 15, 16	1	Short Pump Town Center	Interest Only	No	Actual/360	60	56	60	56	0	0	7/6/2023	4	1	9/1/2023	NAP	8/1/2028	NAP
16.00	Loan	5, 17	1	1201 Third Avenue	Interest Only	No	Actual/360	60	51	60	51	0	0	2/10/2023	9	9	4/9/2023	NAP	3/9/2028	NAP
17.00	Loan	5, 18, 19, 20, 21, 22	1	Philadelphia Marriott Downtown	Interest Only	No	Actual/360	60	59	60	59	0	0	10/25/2023	1	6	12/6/2023	NAP	11/6/2028	NAP
18.00	Loan		1	Springhill Suites Chattanooga	Interest Only	No	Actual/360	60	59	60	59	0	0	10/19/2023	1	1	12/1/2023	NAP	11/1/2028	NAP
19.00	Loan	23	10	My Place Communities MHC Portfolio	Interest Only	No	Actual/360	60	60	60	60	0	0	11/3/2023	0	1	1/1/2024	NAP	12/1/2028	NAP
19.01	Property		1	Olde Towne Village
19.02	Property		1	Thorn Hollow
19.03	Property		1	Heritage Estates
19.04	Property		1	Riverside Estates
19.05	Property		1	North Hill
19.06	Property		1	Twin Valley
19.07	Property		1	Pleasant Lake
19.08	Property		1	Pearl Beach
19.09	Property		1	Woodmont
19.10	Property		1	Cattail Estates
20.00	Loan	24, 25	1	TJ Maxx Centre	Interest Only	No	Actual/360	60	57	60	57	0	0	8/29/2023	3	1	10/1/2023	NAP	9/1/2028	NAP
21.00	Loan	5, 26	1	1825 K Street NW	Interest Only	No	Actual/360	60	55	60	55	0	0	6/26/2023	5	5	8/5/2023	NAP	7/5/2028	NAP
22.00	Loan		1	Spring Park Plaza	Interest Only	No	Actual/360	60	59	60	59	0	0	10/27/2023	1	1	12/1/2023	NAP	11/1/2028	NAP
23.00	Loan		1	Locust Grove Village	Interest Only	No	Actual/360	60	58	60	58	0	0	9/29/2023	2	1	11/1/2023	NAP	10/1/2028	NAP
24.00	Loan		1	Two Rivers Plaza	Interest Only	No	Actual/360	60	60	60	60	0	0	11/7/2023	0	1	1/1/2024	NAP	12/1/2028	NAP
25.00	Loan		1	Chase Bank	Interest Only	No	Actual/360	60	59	60	59	0	0	11/9/2023	1	11	12/11/2023	NAP	11/11/2028	NAP
26.00	Loan		1	Addison Apartments III	Interest Only	No	Actual/360	60	58	60	58	0	0	9/28/2023	2	11	11/11/2023	NAP	10/11/2028	NAP
27.00	Loan		1	City Line Albany Post	Interest Only	No	Actual/360	60	59	60	59	0	0	10/16/2023	1	1	12/1/2023	NAP	11/1/2028	NAP



Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Grace Period - Late Fee (Days)	Grace Period - Default (Days)	Prepayment Provision	Most Recent EGI ($)	Most Recent Expenses ($)	Most Recent NOI ($)	Most Recent NOI Date	Most Recent Description	Second Most Recent EGI ($)	Second Most Recent Expenses ($)	Second Most Recent NOI ($)	Second Most Recent NOI Date	Second Most Recent Description	Third Most Recent EGI ($)
1.00	Loan	5	1	Westfarms	0	0	L(27),D(26),O(7)	48,528,897	17,617,481	30,911,416	6/30/2023	T-12	47,139,850	18,215,282	28,924,568	12/31/2022	T-12	47,635,108
2.00	Loan	6	1	Renaissance Dallas Addison Hotel	5	5	L(26),D(27),O(7)	28,306,100	17,376,251	10,929,849	8/31/2023	T-12	22,651,995	14,573,928	8,078,067	12/31/2022	T-12	8,761,812
3.00	Loan	5, 7, 8	1	Nvidia Santa Clara	0	0	L(24),D(29),O(7)	20,525,326	3,611,603	16,913,723	12/31/2022	T-12	21,443,985	4,189,315	17,254,670	12/31/2021	T-12	19,730,863
4.00	Loan	9	1	Market Heights	5	5	L(25),D(28),O(7)	8,602,831	3,204,152	5,398,679	7/31/2023	T-12	8,514,274	3,148,251	5,366,023	12/31/2022	T-12	8,325,122
5.00	Loan	6, 10, 11	1	The Westin Rancho Mirage	0	0	L(25),D(28),O(7)	49,870,270	40,557,309	9,312,961	9/30/2023	T-12	47,791,068	37,705,223	10,085,845	12/31/2022	T-12	22,497,389
6.00	Loan	12	1	The Prado	0	0	L(24),D(30),O(6)	6,527,393	2,410,165	4,117,228	12/31/2022	T-12	6,910,003	2,193,621	4,716,382	12/31/2021	T-12	NAV
7.00	Loan		1	Market Center at Aliana	0	5	L(26),D(27),O(7)	4,754,662	1,516,760	3,237,901	5/31/2023	T-12	4,615,397	1,412,424	3,202,973	12/31/2022	T-12	4,607,116
8.00	Loan		13	ExchangeRight Net Leased Portfolio #65	0	0	L(25),D(28),O(7)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.01	Property		1	FedEx Ground - Mills River, NC				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.02	Property		1	Tractor Supply - St. Charles, IL				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.03	Property		1	Tractor Supply - Searcy, AR				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.04	Property		1	Tractor Supply - Fordyce, AR				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.05	Property		1	Tractor Supply - Clarksville, VA				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.06	Property		1	Dollar Tree - Oklahoma City, OK				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.07	Property		1	Dollar General - Waycross, GA				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.08	Property		1	Dollar General - Baton Rouge, LA				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.09	Property		1	Dollar General - Lexington Park, MD				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.10	Property		1	Dollar General - Victoria, TX				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.11	Property		1	Dollar General - South Bend, IN				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.12	Property		1	Dollar General - Stockbridge, GA				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.13	Property		1	Family Dollar - Leland, NC				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
9.00	Loan	5	1	11 West 42nd Street	0	0	L(23),YM1(6),DorYM1(24),O(7)	62,683,274	35,986,252	26,697,022	3/31/2023	T-12	61,168,739	34,495,528	26,673,211	12/31/2022	T-12	60,959,925
10.00	Loan	13	4	Stirling Hotel Portfolio	0	0	L(24),D(29),O(7)	16,665,353	11,552,694	5,112,659	9/30/2023	T-12	15,913,249	11,051,909	4,861,340	12/31/2022	T-12	12,861,737
10.01	Property		1	Hampton Inn Buford				4,382,933	2,661,231	1,721,702	9/30/2023	T-12	3,797,692	2,329,853	1,467,839	12/31/2022	T-12	2,928,736
10.02	Property		1	Residence Inn Jacksonville Butler Boulevard				4,566,324	3,215,960	1,350,363	9/30/2023	T-12	4,588,420	3,147,730	1,440,690	12/31/2022	T-12	4,121,328
10.03	Property		1	Residence Inn Hartford Manchester				4,485,743	3,159,098	1,326,645	9/30/2023	T-12	4,336,244	3,042,527	1,293,717	12/31/2022	T-12	3,425,963
10.04	Property		1	SpringHill Suites Buford				3,230,353	2,516,404	713,949	9/30/2023	T-12	3,190,893	2,531,799	659,094	12/31/2022	T-12	2,385,710
11.00	Loan	5	1	McKesson Phase 2	3	3	L(37),D(13),O(10)	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP
12.00	Loan		1	Shops at La Palmera	5	5	L(24),D(29),O(7)	5,259,653	2,041,959	3,217,695	7/31/2023	T-12	4,999,757	1,949,617	3,050,140	12/31/2022	T-12	4,854,378
13.00	Loan		1	RV Storage Depot	5	0	L(25),D(28),O(7)	4,267,626	1,254,743	3,012,883	7/31/2023	T-12	3,440,951	1,198,874	2,242,078	12/31/2022	T-12	NAV
14.00	Loan	5, 14	13	Merit Hill Self Storage	0	0	L(23),YM1(3),DorYM1(27),O(7)	12,013,064	4,768,196	7,244,868	7/31/2023	T-12	11,420,348	4,394,178	7,026,170	12/31/2022	T-12	9,937,754
14.01	Property		1	2615 East 12th Street				2,210,647	651,574	1,559,072	7/31/2023	T-12	2,048,712	582,139	1,466,573	12/31/2022	T-12	1,899,866
14.02	Property		1	Parkglenn Self-Storage				1,215,086	497,641	717,444	7/31/2023	T-12	1,188,392	500,238	688,154	12/31/2022	T-12	989,239
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive				1,055,514	308,099	747,415	7/31/2023	T-12	1,015,008	260,869	754,139	12/31/2022	T-12	1,045,680
14.04	Property		1	30690 Aldine Westfield Rd				1,159,823	440,169	719,654	7/31/2023	T-12	1,164,983	431,728	733,254	12/31/2022	T-12	1,105,092
14.05	Property		1	13404 E Broncos Pkwy				973,511	536,701	436,810	7/31/2023	T-12	921,192	434,523	486,670	12/31/2022	T-12	704,303
14.06	Property		1	3803 N Navarro St				916,169	304,898	611,271	7/31/2023	T-12	902,247	305,100	597,147	12/31/2022	T-12	782,857
14.07	Property		1	2102 NW Stallings Dr				723,214	267,772	455,442	7/31/2023	T-12	675,338	245,232	430,106	12/31/2022	T-12	567,698
14.08	Property		1	2005 W Wheeler Ave				782,739	311,524	471,215	7/31/2023	T-12	755,758	299,322	456,436	12/31/2022	T-12	672,275
14.09	Property		1	3817 Gulf Freeway				820,163	517,867	302,296	7/31/2023	T-12	820,225	436,176	384,049	12/31/2022	T-12	703,232
14.10	Property		1	1600 E General Cavazos Blvd				723,991	273,345	450,646	7/31/2023	T-12	704,274	277,426	426,848	12/31/2022	T-12	641,035
14.11	Property		1	11615 Rubina Pl				515,616	233,168	282,448	7/31/2023	T-12	411,326	244,714	166,612	12/31/2022	T-12	184,388
14.12	Property		1	4222 N Main St				590,114	338,200	251,913	7/31/2023	T-12	516,525	292,413	224,112	12/31/2022	T-12	394,977
14.13	Property		1	12 Irongate Drive				326,479	87,238	239,241	7/31/2023	T-12	296,368	84,299	212,069	12/31/2022	T-12	247,113
15.00	Loan	5, 15, 16	1	Short Pump Town Center	0	0	L(28),D(25),O(7)	36,340,397	8,399,562	27,940,835	5/31/2023	T-12	33,508,680	7,507,842	26,000,838	12/31/2022	T-12	29,668,166
16.00	Loan	5, 17	1	1201 Third Avenue	0	0	L(24),YM1(9),DorYM1(20),O(7)	51,796,212	20,401,758	31,394,453	12/31/2022	T-12	52,866,426	19,817,047	33,049,379	12/31/2021	T-12	55,173,622
17.00	Loan	5, 18, 19, 20, 21, 22	1	Philadelphia Marriott Downtown	0	0	L(25),DorYM0.5(28),O(7)	106,555,128	72,995,206	33,559,922	9/30/2023	T-12	85,149,141	59,158,454	25,990,687	12/31/2022	T-12	26,916,192
18.00	Loan		1	Springhill Suites Chattanooga	5	5	L(25),D(28),O(7)	6,052,629	3,471,418	2,581,211	8/31/2023	T-12	5,544,660	3,232,162	2,312,498	12/31/2022	T-12	4,689,013
19.00	Loan	23	10	My Place Communities MHC Portfolio	5	4	L(24),D(32),O(4)	2,022,776	789,283	1,233,493	8/31/2023	T-12	1,872,038	847,147	1,024,890	12/31/2022	T-12	1,578,874
19.01	Property		1	Olde Towne Village				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.02	Property		1	Thorn Hollow				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.03	Property		1	Heritage Estates				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.04	Property		1	Riverside Estates				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.05	Property		1	North Hill				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.06	Property		1	Twin Valley				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.07	Property		1	Pleasant Lake				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.08	Property		1	Pearl Beach				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.09	Property		1	Woodmont				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.10	Property		1	Cattail Estates				NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
20.00	Loan	24, 25	1	TJ Maxx Centre	0	5	L(24),YM1(29),O(7)	2,802,836	1,043,733	1,759,103	6/30/2023	T-12	2,721,156	961,036	1,760,120	12/31/2022	T-12	2,529,087
21.00	Loan	5, 26	1	1825 K Street NW	0	0	L(29),D(27),O(4)	12,134,530	4,096,510	8,038,020	2/28/2023	T-12	12,167,157	3,970,309	8,196,848	12/31/2022	T-12	11,429,022
22.00	Loan		1	Spring Park Plaza	5	4	L(25),D(31),O(4)	1,640,665	354,308	1,286,357	7/31/2023	T-12	1,495,264	329,772	1,165,492	12/31/2022	T-12	1,256,477
23.00	Loan		1	Locust Grove Village	0	5	L(26),D(27),O(7)	1,391,823	415,151	976,672	7/31/2023	T-12	1,316,048	414,654	901,394	12/31/2022	T-12	1,286,510
24.00	Loan		1	Two Rivers Plaza	5	5	L(24),D(29),O(7)	951,500	263,996	687,504	6/30/2023	T-12	981,608	388,978	592,630	12/31/2022	T-12	862,252
25.00	Loan		1	Chase Bank	0	0	L(25),D(28),O(7)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
26.00	Loan		1	Addison Apartments III	0	0	L(26),D(30),O(4)	423,740	109,611	314,129	10/31/2023	T-12	NAV	NAV	NAV	NAV	NAV	NAV
27.00	Loan		1	City Line Albany Post	5	4	L(25),D(28),O(7)	360,159	66,102	294,057	9/30/2023	T-12	354,223	69,676	284,547	12/31/2022	T-12	291,353



Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Third Most Recent Expenses ($)	Third Most Recent NOI ($)	Third Most Recent NOI Date	Third Most Recent Description	Underwritten Economic Occupancy (%)	Underwritten EGI ($)	Underwritten Expenses ($)	Underwritten Net Operating Income ($)	Underwritten Replacement / FF&E Reserve ($)	Underwritten TI / LC ($)	Underwritten Net Cash Flow ($)	Underwritten NOI DSCR (x)	Underwritten NCF DSCR (x)	Underwritten NOI Debt Yield (%)	Underwritten NCF Debt Yield (%)
1.00	Loan	5	1	Westfarms	17,859,759	29,775,349	12/31/2021	T-12	96.4%	51,139,577	16,217,012	34,922,565	306,214	968,038	33,648,313	1.83	1.76	14.4%	13.9%
2.00	Loan	6	1	Renaissance Dallas Addison Hotel	7,643,094	1,118,718	12/31/2021	T-12	50.2%	28,306,100	17,733,770	10,572,330	1,415,305	0	9,157,025	1.85	1.60	14.7%	12.7%
3.00	Loan	5, 7, 8	1	Nvidia Santa Clara	4,074,227	15,656,636	12/31/2020	T-12	97.0%	23,069,532	4,731,195	18,338,337	110,247	0	18,228,091	2.02	2.01	14.1%	14.0%
4.00	Loan	9	1	Market Heights	3,191,146	5,133,976	12/31/2021	T-12	95.9%	9,809,645	3,310,574	6,499,071	62,804	424,015	6,012,252	1.46	1.35	11.8%	10.9%
5.00	Loan	6, 10, 11	1	The Westin Rancho Mirage	21,811,701	685,688	12/31/2021	T-12	55.2%	49,870,270	40,521,162	9,349,108	2,321,124	0	7,027,984	2.24	1.68	18.7%	14.1%
6.00	Loan	12	1	The Prado	NAV	NAV	NAV	NAV	86.1%	7,891,692	2,391,755	5,499,937	60,508	348,013	5,091,416	1.47	1.36	13.1%	12.1%
7.00	Loan		1	Market Center at Aliana	1,182,274	3,424,842	12/31/2021	T-12	94.7%	5,625,070	1,832,376	3,792,694	26,540	249,513	3,516,641	1.44	1.33	10.3%	9.5%
8.00	Loan		13	ExchangeRight Net Leased Portfolio #65	NAV	NAV	NAV	NAV	95.0%	4,264,713	127,941	4,136,772	53,099	166,134	3,917,539	2.12	2.01	12.5%	11.8%
8.01	Property		1	FedEx Ground - Mills River, NC	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.02	Property		1	Tractor Supply - St. Charles, IL	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.03	Property		1	Tractor Supply - Searcy, AR	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.04	Property		1	Tractor Supply - Fordyce, AR	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.05	Property		1	Tractor Supply - Clarksville, VA	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.06	Property		1	Dollar Tree - Oklahoma City, OK	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.07	Property		1	Dollar General - Waycross, GA	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.08	Property		1	Dollar General - Baton Rouge, LA	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.09	Property		1	Dollar General - Lexington Park, MD	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.10	Property		1	Dollar General - Victoria, TX	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.11	Property		1	Dollar General - South Bend, IN	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.12	Property		1	Dollar General - Stockbridge, GA	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
8.13	Property		1	Family Dollar - Leland, NC	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
9.00	Loan	5	1	11 West 42nd Street	34,523,645	26,436,280	12/31/2021	T-12	95.0%	70,904,055	39,203,449	31,700,606	192,114	2,881,704	28,626,789	1.53	1.39	11.6%	10.4%
10.00	Loan	13	4	Stirling Hotel Portfolio	8,863,839	3,997,898	12/31/2021	T-12	76.8%	16,665,353	11,405,359	5,259,994	757,135	0	4,502,859	2.02	1.73	17.4%	14.9%
10.01	Property		1	Hampton Inn Buford	1,789,701	1,139,035	12/31/2021	T-12	85.8%	4,382,933	2,646,063	1,736,870	175,317	0	1,561,552
10.02	Property		1	Residence Inn Jacksonville Butler Boulevard	2,675,864	1,445,464	12/31/2021	T-12	74.0%	4,566,324	3,183,480	1,382,843	228,316	0	1,154,527
10.03	Property		1	Residence Inn Hartford Manchester	2,497,442	928,521	12/31/2021	T-12	82.5%	4,485,743	3,150,223	1,335,520	224,287	0	1,111,233
10.04	Property		1	SpringHill Suites Buford	1,900,832	484,878	12/31/2021	T-12	66.0%	3,230,353	2,425,592	804,761	129,214	0	675,547
11.00	Loan	5	1	McKesson Phase 2	NAP	NAP	NAP	NAP	94.9%	8,073,883	292,217	7,781,667	29,651	0	7,752,016	1.95	1.94	10.1%	10.1%
12.00	Loan		1	Shops at La Palmera	2,070,822	2,783,556	12/31/2021	T-12	96.4%	5,809,223	2,333,197	3,476,025	33,429	242,524	3,200,072	1.53	1.41	11.8%	10.8%
13.00	Loan		1	RV Storage Depot	NAV	NAV	NAV	NAV	91.5%	4,583,070	1,339,696	3,243,374	74,457	0	3,168,916	1.34	1.31	11.6%	11.3%
14.00	Loan	5, 14	13	Merit Hill Self Storage	4,247,197	5,690,557	12/31/2021	T-12	100.0%	12,172,844	4,830,213	7,342,631	83,298	0	7,259,334	1.21	1.20	8.6%	8.5%
14.01	Property		1	2615 East 12th Street	565,068	1,334,798	12/31/2021	T-12	100.0%	2,261,971	757,955	1,504,016	8,848	0	1,495,168
14.02	Property		1	Parkglenn Self-Storage	445,531	543,708	12/31/2021	T-12	100.0%	1,224,766	494,452	730,314	7,553	0	722,761
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	236,797	808,883	12/31/2021	T-12	100.0%	1,041,903	295,259	746,645	5,116	0	741,529
14.04	Property		1	30690 Aldine Westfield Rd	482,107	622,984	12/31/2021	T-12	100.0%	1,149,418	399,536	749,882	10,930	0	738,952
14.05	Property		1	13404 E Broncos Pkwy	408,593	295,710	12/31/2021	T-12	100.0%	988,719	502,306	486,413	6,446	0	479,967
14.06	Property		1	3803 N Navarro St	315,045	467,812	12/31/2021	T-12	100.0%	902,552	335,655	566,897	8,125	0	558,772
14.07	Property		1	2102 NW Stallings Dr	230,467	337,231	12/31/2021	T-12	100.0%	760,156	266,361	493,795	5,710	0	488,085
14.08	Property		1	2005 W Wheeler Ave	292,723	379,552	12/31/2021	T-12	100.0%	817,348	350,294	467,054	5,695	0	461,359
14.09	Property		1	3817 Gulf Freeway	363,771	339,461	12/31/2021	T-12	100.0%	823,488	445,949	377,539	7,193	0	370,346
14.10	Property		1	1600 E General Cavazos Blvd	249,813	391,222	12/31/2021	T-12	100.0%	743,656	335,322	408,334	5,655	0	402,679
14.11	Property		1	11615 Rubina Pl	234,628	(50,240)	12/31/2021	T-12	100.0%	534,620	229,219	305,401	3,270	0	302,131
14.12	Property		1	4222 N Main St	304,839	90,138	12/31/2021	T-12	100.0%	591,772	329,773	261,999	6,625	0	255,374
14.13	Property		1	12 Irongate Drive	117,815	129,298	12/31/2021	T-12	100.0%	332,474	88,132	244,342	2,133	0	242,209
15.00	Loan	5, 15, 16	1	Short Pump Town Center	7,798,544	21,869,622	12/31/2021	T-12	94.2%	34,231,796	8,446,932	25,784,865	127,099	1,270,988	24,386,778	1.70	1.61	14.3%	13.5%
16.00	Loan	5, 17	1	1201 Third Avenue	18,678,980	36,494,642	12/31/2020	T-12	71.0%	45,609,813	21,283,998	24,325,815	225,942	2,770,117	21,329,755	2.53	2.22	14.3%	12.5%
17.00	Loan	5, 18, 19, 20, 21, 22	1	Philadelphia Marriott Downtown	29,338,995	(2,422,803)	12/31/2021	T-12	60.2%	111,076,788	76,576,225	34,500,562	5,424,586	0	29,075,976	1.82	1.53	16.0%	13.5%
18.00	Loan		1	Springhill Suites Chattanooga	2,673,606	2,015,408	12/31/2021	T-12	74.3%	6,052,629	3,584,190	2,468,439	242,105	0	2,226,334	2.14	1.93	17.4%	15.7%
19.00	Loan	23	10	My Place Communities MHC Portfolio	1,061,472	517,402	12/31/2021	T-12	80.9%	2,160,045	879,279	1,280,765	18,650	0	1,262,115	1.27	1.25	9.9%	9.7%
19.01	Property		1	Olde Towne Village	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.02	Property		1	Thorn Hollow	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.03	Property		1	Heritage Estates	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.04	Property		1	Riverside Estates	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.05	Property		1	North Hill	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.06	Property		1	Twin Valley	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.07	Property		1	Pleasant Lake	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.08	Property		1	Pearl Beach	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.09	Property		1	Woodmont	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.10	Property		1	Cattail Estates	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
20.00	Loan	24, 25	1	TJ Maxx Centre	898,364	1,630,724	12/31/2021	T-12	84.2%	2,540,075	1,025,881	1,514,194	24,925	129,627	1,359,642	1.59	1.42	12.3%	11.0%
21.00	Loan	5, 26	1	1825 K Street NW	4,076,932	7,352,090	12/31/2021	T-12	76.1%	9,767,529	4,124,341	5,643,188	52,084	0	5,591,105	1.76	1.74	13.4%	13.3%
22.00	Loan		1	Spring Park Plaza	420,423	836,054	12/31/2021	T-12	95.0%	1,784,034	415,180	1,368,854	55,016	136,990	1,176,848	1.74	1.49	14.3%	12.3%
23.00	Loan		1	Locust Grove Village	383,608	902,902	12/31/2021	T-12	95.0%	1,352,872	408,846	944,026	16,688	62,703	864,635	2.14	1.96	16.6%	15.2%
24.00	Loan		1	Two Rivers Plaza	371,327	490,925	12/31/2021	T-12	96.6%	1,086,638	402,299	684,339	8,685	41,544	634,110	1.93	1.79	13.2%	12.2%
25.00	Loan		1	Chase Bank	NAV	NAV	NAV	NAV	97.0%	752,985	172,807	580,178	300	0	579,878	1.72	1.71	11.5%	11.5%
26.00	Loan		1	Addison Apartments III	NAV	NAV	NAV	NAV	89.5%	425,479	103,039	322,440	7,500	0	314,940	1.24	1.22	10.4%	10.2%
27.00	Loan		1	City Line Albany Post	65,226	226,127	12/31/2021	T-12	88.4%	369,466	85,385	284,081	2,370	0	281,711	1.36	1.35	11.1%	11.0%



Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Appraised Value ($)	Appraised Value Type	Appraisal Date	Cut-off Date LTV Ratio (%)	LTV Ratio at Maturity / ARD (%)	Leased Occupancy (%)⁽³⁾	Occupancy Date	Single Tenant (Y/N)	Largest Tenant	Largest Tenant SF	Largest Tenant % of NRA
1.00	Loan	5	1	Westfarms	547,800,000	As Is	7/6/2023	44.2%	44.2%	95.9%	8/25/2023	No	Forever 21	22,512	4.5%
2.00	Loan	6	1	Renaissance Dallas Addison Hotel	113,500,000	As Is	7/21/2023	63.4%	63.4%	50.2%	8/31/2023	NAP	NAP	NAP	NAP
3.00	Loan	5, 7, 8	1	Nvidia Santa Clara	313,247,393	As If Funded	4/20/2023	41.5%	41.5%	100.0%	12/1/2023	Yes	Nvidia Corporation	551,233	100.0%
4.00	Loan	9	1	Market Heights	87,500,000	As Is	8/6/2023	62.9%	62.9%	99.2%	8/9/2023	No	Cinemark	53,491	12.8%
5.00	Loan	6, 10, 11	1	The Westin Rancho Mirage	89,200,000	As Is	9/15/2023	56.1%	56.1%	55.2%	9/30/2023	NAP	NAP	NAP	NAP
6.00	Loan	12	1	The Prado	67,100,000	As Is	7/16/2023	62.6%	62.6%	88.6%	11/1/2023	No	Life Time Fitness	127,066	42.0%
7.00	Loan		1	Market Center at Aliana	61,200,000	As Is	6/30/2023	60.5%	60.5%	94.4%	7/13/2023	No	Hobby Lobby Stores, Inc.	55,085	31.1%
8.00	Loan		13	ExchangeRight Net Leased Portfolio #65	73,485,000	As Is	Various	45.0%	45.0%	100.0%	12/1/2023
8.01	Property		1	FedEx Ground - Mills River, NC	39,350,000	As Is	9/20/2023			100.0%	12/1/2023	Yes	FedEx Ground	250,955	100.0%
8.02	Property		1	Tractor Supply - St. Charles, IL	5,580,000	As Is	9/14/2023			100.0%	12/1/2023	Yes	Tractor Supply	19,100	100.0%
8.03	Property		1	Tractor Supply - Searcy, AR	5,400,000	As Is	9/23/2023			100.0%	12/1/2023	Yes	Tractor Supply	23,957	100.0%
8.04	Property		1	Tractor Supply - Fordyce, AR	5,400,000	As Is	9/23/2023			100.0%	12/1/2023	Yes	Tractor Supply	19,097	100.0%
8.05	Property		1	Tractor Supply - Clarksville, VA	5,100,000	As Is	10/11/2023			100.0%	12/1/2023	Yes	Tractor Supply	21,930	100.0%
8.06	Property		1	Dollar Tree - Oklahoma City, OK	1,900,000	As Is	9/23/2023			100.0%	12/1/2023	Yes	Dollar Tree	9,950	100.0%
8.07	Property		1	Dollar General - Waycross, GA	1,730,000	As Is	9/20/2023			100.0%	12/1/2023	Yes	Dollar General	10,640	100.0%
8.08	Property		1	Dollar General - Baton Rouge, LA	1,700,000	As Is	9/15/2023			100.0%	12/1/2023	Yes	Dollar General	10,640	100.0%
8.09	Property		1	Dollar General - Lexington Park, MD	1,675,000	As Is	9/19/2023			100.0%	12/1/2023	Yes	Dollar General	9,026	100.0%
8.10	Property		1	Dollar General - Victoria, TX	1,650,000	As Is	9/16/2023			100.0%	12/1/2023	Yes	Dollar General	10,640	100.0%
8.11	Property		1	Dollar General - South Bend, IN	1,450,000	As Is	9/19/2023			100.0%	12/1/2023	Yes	Dollar General	9,002	100.0%
8.12	Property		1	Dollar General - Stockbridge, GA	1,300,000	As Is	9/20/2023			100.0%	12/1/2023	Yes	Dollar General	9,026	100.0%
8.13	Property		1	Family Dollar - Leland, NC	1,250,000	As Is	9/22/2023			100.0%	12/1/2023	Yes	Family Dollar	8,400	100.0%
9.00	Loan	5	1	11 West 42nd Street	555,000,000	As Is	4/19/2023	49.4%	49.4%	98.6%	5/1/2023	No	Michael Kors (USA), Inc	254,485	26.5%
10.00	Loan	13	4	Stirling Hotel Portfolio	66,200,000	As Is	Various	45.6%	45.6%	76.8%	9/30/2023
10.01	Property		1	Hampton Inn Buford	17,000,000	As Is	9/20/2023			85.8%	9/30/2023	NAP	NAP	NAP	NAP
10.02	Property		1	Residence Inn Jacksonville Butler Boulevard	17,200,000	As Is	9/26/2023			74.0%	9/30/2023	NAP	NAP	NAP	NAP
10.03	Property		1	Residence Inn Hartford Manchester	14,500,000	As Is	9/20/2023			82.5%	9/30/2023	NAP	NAP	NAP	NAP
10.04	Property		1	SpringHill Suites Buford	17,500,000	As Is	9/20/2023			66.0%	9/30/2023	NAP	NAP	NAP	NAP
11.00	Loan	5	1	McKesson Phase 2	113,800,000	As Is	10/4/2023	67.4%	67.4%	100.0%	12/1/2023	Yes	McKesson Corporation	197,671	100.0%
12.00	Loan		1	Shops at La Palmera	48,200,000	As Is	9/1/2023	61.2%	61.2%	97.0%	9/11/2023	No	Dick's Sporting Goods	61,233	28.0%
13.00	Loan		1	RV Storage Depot	64,000,000	As Is	8/25/2023	43.8%	43.8%	80.7%	9/23/2023	No	Jingoli	827,640	55.6%
14.00	Loan	5, 14	13	Merit Hill Self Storage	142,000,000	As Portfolio	Various	59.9%	59.9%	92.6%	7/31/2023
14.01	Property		1	2615 East 12th Street	28,850,000	As Is	8/5/2023			96.2%	7/31/2023	NAP	NAP	NAP	NAP
14.02	Property		1	Parkglenn Self-Storage	14,450,000	As Is	8/8/2023			95.5%	7/31/2023	NAP	NAP	NAP	NAP
14.03	Property		1	630 Macarthur Boulevard & 59 Jonathan Bourne Drive	13,800,000	As Is	8/3/2023			86.9%	7/31/2023	NAP	NAP	NAP	NAP
14.04	Property		1	30690 Aldine Westfield Rd	13,600,000	As Is	8/10/2023			89.5%	7/31/2023	NAP	NAP	NAP	NAP
14.05	Property		1	13404 E Broncos Pkwy	11,240,000	As Is	8/8/2023			98.2%	7/31/2023	NAP	NAP	NAP	NAP
14.06	Property		1	3803 N Navarro St	10,000,000	As Is	8/11/2023			85.8%	7/31/2023	NAP	NAP	NAP	NAP
14.07	Property		1	2102 NW Stallings Dr	8,000,000	As Is	8/9/2023			97.0%	7/31/2023	NAP	NAP	NAP	NAP
14.08	Property		1	2005 W Wheeler Ave	7,650,000	As Is	8/10/2023			95.3%	7/31/2023	NAP	NAP	NAP	NAP
14.09	Property		1	3817 Gulf Freeway	7,100,000	As Is	8/10/2023			91.8%	7/31/2023	NAP	NAP	NAP	NAP
14.10	Property		1	1600 E General Cavazos Blvd	6,800,000	As Is	8/10/2023			93.5%	7/31/2023	NAP	NAP	NAP	NAP
14.11	Property		1	11615 Rubina Pl	5,400,000	As Is	8/9/2023			91.4%	7/31/2023	NAP	NAP	NAP	NAP
14.12	Property		1	4222 N Main St	5,100,000	As Is	8/10/2023			94.0%	7/31/2023	NAP	NAP	NAP	NAP
14.13	Property		1	12 Irongate Drive	3,500,000	As Is	8/9/2023			84.3%	7/31/2023	NAP	NAP	NAP	NAP
15.00	Loan	5, 15, 16	1	Short Pump Town Center	378,000,000	Market Value excluding Dick's Parcel	6/7/2023	47.6%	47.6%	94.4%	6/20/2023	No	Crate & Barrel	34,597	5.4%
16.00	Loan	5, 17	1	1201 Third Avenue	556,500,000	As Is	12/1/2022	30.5%	30.5%	71.0%	1/1/2023	No	Perkins Coie	296,843	26.3%
17.00	Loan	5, 18, 19, 20, 21, 22	1	Philadelphia Marriott Downtown	391,300,000	As Is	9/7/2023	54.9%	54.9%	57.1%	9/30/2023	NAP	NAP	NAP	NAP
18.00	Loan		1	Springhill Suites Chattanooga	29,000,000	As Is	8/31/2023	49.0%	49.0%	74.3%	8/31/2023	NAP	NAP	NAP	NAP
19.00	Loan	23	10	My Place Communities MHC Portfolio	17,907,000	As Is	Various	72.6%	72.6%	82.0%	9/30/2023
19.01	Property		1	Olde Towne Village	3,800,000	As Is	8/3/2023			96.2%	9/30/2023	NAP	NAP	NAP	NAP
19.02	Property		1	Thorn Hollow	2,325,000	As Is	8/4/2023			100.0%	9/30/2023	NAP	NAP	NAP	NAP
19.03	Property		1	Heritage Estates	2,340,000	As Is	7/27/2023			58.6%	9/30/2023	NAP	NAP	NAP	NAP
19.04	Property		1	Riverside Estates	1,900,000	As Is	8/11/2023			97.2%	9/30/2023	NAP	NAP	NAP	NAP
19.05	Property		1	North Hill	1,325,000	As Is	8/4/2023			83.7%	9/30/2023	NAP	NAP	NAP	NAP
19.06	Property		1	Twin Valley	1,300,000	As Is	8/4/2023			80.6%	9/30/2023	NAP	NAP	NAP	NAP
19.07	Property		1	Pleasant Lake	1,550,000	As Is	8/4/2023			67.9%	9/30/2023	NAP	NAP	NAP	NAP
19.08	Property		1	Pearl Beach	1,460,000	As Is	8/4/2023			89.7%	9/30/2023	NAP	NAP	NAP	NAP
19.09	Property		1	Woodmont	1,167,000	As Is	8/8/2023			72.7%	9/30/2023	NAP	NAP	NAP	NAP
19.10	Property		1	Cattail Estates	740,000	As Is	8/4/2023			79.2%	9/30/2023	NAP	NAP	NAP	NAP
20.00	Loan	24, 25	1	TJ Maxx Centre	24,000,000	As Is	4/13/2023	51.5%	51.5%	78.2%	8/1/2023	No	TJ Maxx	31,614	19.0%
21.00	Loan	5, 26	1	1825 K Street NW	79,200,000	As Is	3/30/2023	53.0%	53.0%	73.3%	6/1/2023	No	Union of Concerned Scientists	27,007	10.4%
22.00	Loan		1	Spring Park Plaza	17,000,000	As Is	8/30/2023	56.5%	56.5%	100.0%	8/31/2023	No	Big Lots	27,094	19.7%
23.00	Loan		1	Locust Grove Village	15,000,000	As Is	7/30/2023	38.0%	38.0%	98.1%	7/31/2023	No	Ingles	80,000	71.9%
24.00	Loan		1	Two Rivers Plaza	8,370,000	As Is	8/16/2023	62.1%	62.1%	97.5%	8/22/2023	No	Marshalls	30,600	52.8%
25.00	Loan		1	Chase Bank	11,000,000	As Is	9/26/2023	45.8%	45.8%	100.0%	12/1/2023	Yes	JP Morgan Chase Bank	3,002	100.0%
26.00	Loan		1	Addison Apartments III	5,400,000	As Is	8/17/2023	57.4%	57.4%	90.0%	10/31/2023	No	NAP	NAP	NAP
27.00	Loan		1	City Line Albany Post	3,870,000	As Is	8/22/2023	65.9%	65.9%	90.4%	9/30/2023	NAP	NAP	NAP	NAP

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-257991-08

	FOOTNOTES TO ANNEX A-1

	See “Annex A-3: Summaries of the Fifteen Largest Mortgage Loans” in the Prospectus for additional information on the 15 largest mortgage loans.

(1)	“WFB” denotes Wells Fargo Bank, National Association, “BANA” denotes Bank of America, National Association, “MSBNA” denotes Morgan Stanley Bank, N.A., “MSMCH” denotes Morgan Stanley Mortgage Capital Holdings LLC, “JPMCB” denotes JPMorgan Chase Bank, National Association, “UBS AG” denotes UBS AG, New York Branch, an Office of the Comptroller of the Currency regulated branch of a foreign bank.

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

(3)	Certain tenants may not be in occupancy or may be in free rent periods. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Other” in this prospectus for information regarding (i) single tenant properties, (ii) the largest 5 tenants with respect to the largest 15 Mortgage Loans or groups of cross-collateralized Mortgage Loans and (iii) tenants that individually or together with their affiliates occupy 50% or more of the net rentable area of related Mortgaged Properties, which, in each case, are not in occupancy or are in free rent periods.

(4)	Certain tenants may have lease termination options that are exercisable prior to the originally stated expiration date of the subject lease. See “Description of the Mortgage Pool—Tenant Issues—Lease Expirations and Terminations—Terminations” for information regarding certain lease termination options affecting (i) single tenant properties, (ii) the largest 5 tenants with respect to the largest 15 Mortgage Loans or groups of cross-collateralized Mortgage Loans and (iii) tenants that occupy 50% or more of the net rentable area of the related Mortgaged Properties.

(5)	With respect to Mortgage Loan No. 1 (Westfarms), Mortgage Loan No. 3 (Nvidia Santa Clara), Mortgage Loan No. 9 (11 West 42nd Street), Mortgage Loan No. 11 (McKesson Phase 2), Mortgage Loan No. 14 (Merit Hill Self Storage), Mortgage Loan No. 15 (Short Pump Town Center), Mortgage Loan No. 16 (1201 Third Avenue), Mortgage Loan No. 17 (Philadelphia Marriott Downtown) and Mortgage Loan No. 21 (1825 K Street NW), such Mortgage Loans are part of a whole loan related to the Issuing Entity. For purposes of the statistical information set forth in this prospectus as to such Mortgage Loans, all LTV, DSCR, Debt Yield and Loan Per Unit ($) calculations are in each case based on the subject Mortgage Loan together with any related Pari Passu Companion Loan, but (unless otherwise indicated) without regard to any related Subordinate Companion Loan(s). For further information, see “Description of the Mortgage Pool—The Whole Loans—General”, “—The Serviced Pari Passu Whole Loans”, “—The Non-Serviced Pari Passu Whole Loans”, and “Pooling and Servicing Agreement” or “Pooling and Servicing Agreement—Servicing of the Non-Serviced Mortgage Loans,” as applicable, in this prospectus.

(6)	With respect to Mortgage Loan No. 2 (Renaissance Dallas Addison Hotel), underwritten food & beverage revenue make up of 45.9% of total revenue. With respect to Mortgage Loan No. 5 (The Westin Rancho Mirage), underwritten food & beverage revenue, golf course revenue, parking revenue and other revenue collectively make up 52.2% of the total revenue.

(7)	With respect to Mortgage Loan No. 3 (Nvidia Santa Clara), the Appraised Value of $313,247,393 represents the “as-if-funded” appraised value based on the hypothetical assumption that the cost of the outstanding tenant improvement allowances have been fully escrowed and will be available to fund such tenant improvements. Upon origination of the Nvidia Santa Clara Whole Loan, $8,146,892.50 was reserved to fund all outstanding tenant improvements. Based on the “as-is” appraised value of $305,100,000, the Nvidia Santa Clara Whole Loan results in a Cut-off Date LTV Ratio and LTV Ratio at Maturity of 42.6%.

(8)	With respect to Mortgage Loan No. 3 (Nvidia Santa Clara), the Loan Payoff amount is shown net of existing debt attributable to 2890 Scott Boulevard, a 75,000 square foot, non-collateral office


	building. The total Loan Payoff amount, including amounts attributable to 2890 Scott Boulevard, is $189,348,589. The existing debt was allocated amongst the Nvidia Santa Clara Properties and 2890 Scott Boulevard (non-collateral) based on net rentable area, and the assumed Loan Payoff amount for 2890 Scott Boulevard was excluded from the Loan Payoff amount as presented. In connection with the origination of the Nvidia Santa Clara Whole Loan, the borrower sponsors invested a total of $17,912,200 of fresh equity to retire the existing loan (inclusive of the non-collateral 2890 Scott Boulevard parcel), fund upfront reserves and pay closing costs.

(9)	With respect to Mortgage Loan No. 4 (Market Heights), the related loan documents permit an outparcel or other release without prepayment or defeasance. See “Description of the Mortgage Pool – Certain Terms of the Mortgage Loans – Releases; Partial Releases; Property Additions” in this prospectus.

(10)	With respect to Mortgage Loan No. 5 (The Westin Rancho Mirage), a grace period- late fee (days), of two days is permitted once during every 12 month period.

(11)	With respect to Mortgage Loan No. 5 (The Westin Rancho Mirage), the FF&E reserve will be equal to the greater of (i) 4% of the monthly gross operating revenue for hotel related operations at the Mortgaged Property for the immediately preceding calendar month and (ii) the amount of the deposit (if any) then required by the franchisor on account of FF&E under the franchise agreement, which is currently 5% of total revenues excluding golf revenue. The first payment will be calculated at the first payment date in December 2023.

(12)	With respect to Mortgage Loan No. 6 (The Prado), the borrower is required to deposit any lease termination fees or other payments received in connection with the termination of any lease at the Mortgaged Property but only to the extent the foregoing exceeds $50,000 (provided, however, during a cash trigger period under the Mortgage Loan documents, all lease termination fees or other payments received by the borrower are required to be paid to the lender).

(13)	With respect to Mortgage Loan No. 10 (Stirling Hotel Portfolio), the Residence Inn Hartford Manchester Property is subject to a franchise agreement with Marriott International, Inc. that is currently scheduled to expire on September 30, 2024. Upon satisfactory completion of the PIP by the completion deadline of June 30, 2024, the franchise agreement will be automatically renewed through November 19, 2031.

(14)	With respect to Mortgage Loan No. 14 (Merit Hill Self Storage), the Appraised Value represents the “as-is” portfolio value of $142,000,000. The aggregate of the individual “as-is” appraised value is $135,490,000, as of dates between August 3, 2023 and August 11, 2023, which results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 62.7%.

(15)	With respect to Mortgage Loan No. 15 (Short Pump Town Center), the Dick’s Sporting Goods and Texas de Brazil parcels (collectively, the “Dick's Parcel”), including their related parking spaces, were permitted to be freely released by the borrower, therefore, all square feet and any rent for those tenants have been excluded in the lender’s underwriting and no value has been given to the Dick’s Parcel in the appraised value. The information relating to the Short Pump Town Center Mortgaged Property in this Annex does not include the Dick’s Parcel, other than the historical financials. After the origination of the Short Pump Town Center Whole Loan, on July 31, 2023, the Dick’s Parcel was released from the lien of the mortgage in accordance with the terms of the Short Pump Town Center Whole Loan documents.

(16)	With respect to Mortgage Loan No. 15 (Short Pump Town Center), the Appraised Value of $378,000,000 represents the “Hypothetical As Is” value of the Mortgaged Property excluding the value attributed to the Dick's Parcel, which was in fact released post-closing on July 31, 2023 pursuant to the related loan agreement.

(17)	With respect to Mortgage Loan No. 16 (1201 Third Avenue), the largest tenant, Perkins Coie, which leases 26.3% of net rentable area, has announced that it plans to move from the Mortgaged Property to another building in mid-2025. The Perkins Coie lease permits Perkins Coie to terminate such lease


	at the end of any month occurring during the last two years of its term (which expires on December 31, 2026) with 15 months’ prior written notice and payment of a termination fee. Accordingly, Perkins Coie is expected to exercise its termination option and vacate its space at the Mortgaged Property. See “Description of the Mortgage Pool—Property Types—Retail Properties” in this prospectus.

(18)	With respect to Mortgage Loan No. 17 (Philadelphia Marriott Downtown), the Mortgage Loan is part of a Whole Loan that was co-originated by JPMCB, Barclays Capital Real Estate Inc. ("BCREI") and WFB. JPMCB will be contributing Note A-11 with a Cut-off Date Balance of $10,000,000 to the BANK5 2023-5YR4 securitization. WFB will be contributing Note A-9 with an aggregate Cut-off Date Balance of $10,000,000 to the BANK5 2023-5YR4 securitization.

(19)	With respect to Mortgage Loan No. 17 (Philadelphia Marriott Downtown), certain affiliates of the related borrower sponsors (collectively, the “Preferred Equity Investor”) hold a preferred equity interest in one of the related borrowers, Philadelphia Market Street HMC Hotel Limited Partnership, in connection with an original $23.0 million capital contribution in such borrower. The Preferred Equity Investor is entitled to an amount of preferred return as set forth in the related operating agreement at the annual rate of return of 12%, payable when any distributions are made under the related operating agreement. The preferred equity investment does not have a fixed redemption period, and the related operating agreement does not provide the Preferred Equity Investor with any remedies in the event of a default under the preferred equity arrangement. See “Description of the Mortgage Pool–Additional Indebtedness–Preferred Equity” in this prospectus.

(20)	With respect to Mortgage Loan No. 17 (Philadelphia Marriott Downtown), the Mortgaged Property is substantially owned in fee by the borrowers. However, (i) a skybridge (the “Bridge”) connecting the main building of the Mortgaged Property and the Pennsylvania Convention Center and (ii) a parcel of land which allows for an overhang and partial driveway at one of the entrances to the Mortgaged Property (the “Tunnel”), are subject to certain sub-ground leases, each with a nominal annual rent due. The sub-ground leases are between one of the two related borrowers, Philadelphia Market Street HMC Hotel Limited Partnership, as the subtenant, and the Redevelopment Authority of the City of Philadelphia (“Sublandlord”), which in turn leases the same premises from the City of Philadelphia, as the landlord. The Bridge sublease is also subject to a reciprocal easement agreement with the Pennsylvania Convention Center Authority with respect to maintenance of such Bridge. See “Description of the Mortgage Pool–Mortgage Pool Characteristics of the Mortgage Loans– Fee & Leasehold Estates; Ground Leases” in this prospectus.

(21)	With respect to Mortgage Loan No. 17 (Philadelphia Marriott Downtown), the Philadelphia Marriott Downtown Whole Loan documents provide that, in the event that a cash sweep period is continuing solely as a result of the debt service coverage ratio for the Philadelphia Marriott Downtown Whole Loan being less than 1.20x, the related borrowers may prepay the Philadelphia Marriott Downtown Whole Loan in an amount sufficient such that the debt service coverage ratio for the Philadelphia Marriott Downtown Whole Loan is equal to or greater than 1.20x, in which case, such cash sweep period will immediately cease.

(22)	With respect to Mortgage Loan No. 17 (Philadelphia Marriott Downtown), the Philadelphia Marriott Downtown Whole Loan documents are structured with a soft lockbox, pursuant to which all cash generated at the related Mortgaged Property, which the borrowers and operating lessee are entitled to receive pursuant to the related management agreement, is required to be deposited to the lockbox account by the related property manager within one business day after the borrowers or operating lessee are entitled to distributions thereto so long as the following conditions are satisfied: (i) the related Mortgaged Property is managed by the hotel manager under the management agreement as in effect as of the origination of the Mortgage Loan; (ii) such management agreement remains in full force and effect and (iii) such hotel manager is maintaining the cash management system and FF&E reserves as set forth in the management agreement (collectively, the “Qualified Hotel Management Condition”). However, if the Qualified Hotel Management Condition is not satisfied, the borrowers and operating lessee are required to, or cause the property manager to, (i) deposit all gross revenue and all forfeited security deposits into the lockbox account within one business day of receipt thereof and (ii) send direction letters to (x) all tenants then occupying space at the Mortgaged Property instructing them to pay all rent and other sums due under the related leases directly into the lockbox


	account and (y) each applicable credit card company and credit card clearing bank instructing them to deliver all receipts payable with respect to the Mortgaged Property directly to the lockbox account.

(23)	With respect to Mortgage Loan No. 19 (My Place Communities MHC Portfolio), the related loan documents include a holdback of $1,360,000. On or before the 24th payment date, upon borrower's request, the lender is required to disburse an amount such that (1) the DY is equal to or greater than 10.84% and (2) the DSCR is equal to or greater than 1.27x. Following the 24th payment date, the lender will have the option to hold any remaining earnout reserve funds as additional collateral for the debt or apply such remaining earnout reserve funds to the payment of the debt. Excluding the holdback results in a loan to value ratio of 65.0%, UW NCF DSCR of 1.39x and UW NOI DY of 11.00%.

(24)	With respect to Mortgage Loan No. 20 (TJ Maxx Centre), a co-tenancy provision has been triggered with respect to the fifth largest tenant, Shoe Carnival, which leases 7.2% of the net rentable area, due to Bed, Bath and Beyond vacating the Mortgaged Property following its bankruptcy. The co-tenancy clause permits the tenant to pay alternative rent equal to 3.0% of gross receipts and to terminate its lease if the co-tenancy requirements remain unsatisfied for 24 months. However, as of the origination date, the tenant was paying full rent.

(25)	With respect to Mortgage Loan No. 20 (TJ Maxx Centre), a grace period fee (days) of 3 days is permitted three times during the loan term and not more than once per a 12-month period. This grace period does not limit default interest due but limits late charges.

(26)	With respect to Mortgage Loan No. 21 (1825 K Street NW), the 4th Largest Tenant at the Mortgaged Property, The Morris & Gwendolyn Cafritz Foundation, representing approximately 4.4% of the net rentable area at the Mortgaged Property, is the borrower sponsor and the Non-Recourse Carve-out Guarantor.