MSWF 2023-2 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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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, 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.

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

See “Annex A-3: Summaries of the Sixteen Largest Mortgage Loans” in the prospectus for additional information on the 16 largest mortgage loans.

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	% of Initial Pool Balance	% of Loan Balance	Mortgage Loan Originator⁽¹⁾	Mortgage Loan Seller	Related Group	Crossed Group
1.00	Loan	5	1	60 Hudson	9.8%	100.0%	MSBNA	MSMCH	NAP	NAP
2.00	Loan	5, 6, 7, 8, 9, 10	1	Arundel Mills and Marketplace	9.8%	100.0%	WFB	WFB	Group 1	NAP
3.00	Loan	5, 9, 11, 12, 13	1	Fashion Valley Mall	8.2%	100.0%	BANA/BMO/Barclays	BANA/MSMCH	Group 1	NAP
4.00	Loan	5, 14, 15, 16	1	Philadelphia Marriott Downtown	6.7%	100.0%	WFB	WFB	NAP	NAP
5.00	Loan	5, 17, 18, 19	1	CX - 250 Water Street	6.7%	100.0%	BANA/GSBI/WFB/3650 REIT	BANA	NAP	NAP
6.00	Loan	5, 10, 20, 21, 22, 23, 24, 25	3	BLE Portfolio	3.0%		AREF2/Barclays	AREF2	Group 2	Group 1
6.01	Property		1	Lakeside Forest	1.4%	46.9%
6.02	Property		1	The Establishment	1.1%	37.8%
6.03	Property		1	Barcelona	0.5%	15.3%
7.00	Loan	5, 24, 25, 26, 27, 28	1	La Primavera	1.4%	100.0%	AREF2/Barclays	AREF2	Group 2	Group 1
8.00	Loan	9	1	Cross County Plaza	4.4%	100.0%	SMC	SMC	NAP	NAP
9.00	Loan	5, 10, 21, 29, 30, 31	29	RTL Retail Portfolio	3.3%		Barclays	MSMCH	NAP	NAP
9.01	Property		1	Northwoods Marketplace	0.3%	8.3%
9.02	Property		1	The Centrum	0.2%	6.6%
9.03	Property		1	Lawton Marketplace Lawton	0.2%	6.2%
9.04	Property		1	Carlisle Crossing	0.2%	6.1%
9.05	Property		1	Southway Shopping Center	0.2%	6.0%
9.06	Property		1	Parkway Centre South Shopping	0.2%	5.2%
9.07	Property		1	Houma Crossing - Houma	0.2%	5.0%
9.08	Property		1	North Lake Square	0.2%	4.9%
9.09	Property		1	Liberty Crossing - Rowlett	0.2%	4.8%
9.10	Property		1	Owensboro Towne Center	0.1%	4.6%
9.11	Property		1	Harbor Town Center	0.1%	3.7%
9.12	Property		1	Lord Salisbury Center	0.1%	3.5%
9.13	Property		1	Terrell Mill Village	0.1%	3.5%
9.14	Property		1	The Ridge at Turtle Creek	0.1%	3.1%
9.15	Property		1	Nordstrom Rack	0.1%	3.0%
9.16	Property		1	Ventura Place	0.1%	2.8%
9.17	Property		1	Village at Quail Springs Oklahoma City	0.1%	2.7%
9.18	Property		1	Wallace Commons I	0.1%	2.6%
9.19	Property		1	Waterford Park South	0.1%	2.5%
9.20	Property		1	Evergreen Marketplace	0.1%	2%
9.21	Property		1	Derby Marketplace	0.1%	2%
9.22	Property		1	Stoneridge Village	0.1%	2%
9.23	Property		1	Fresh Thyme and DSW	0.0%	2%
9.24	Property		1	Crossroads Annex - Lafayette	0.0%	1%
9.25	Property		1	Tellico Village	0.0%	1%
9.26	Property		1	Walmart Neighborhood Market	0.0%	1%
9.27	Property		1	PetSmart & Old Navy	0.0%	1%
9.28	Property		1	Sutter's Creek	0.0%	1%
9.29	Property		1	Mattress Firm and Panera Bread	0.0%	1%
10.00	Loan	5, 10, 21, 32	7	Rhino Retail Portfolio 2	3.3%		Barclays/BANA	BANA	NAP	NAP
10.01	Property		1	Monte Vista	1.5%	44%
10.02	Property		1	Sherwood	0.6%	19%
10.03	Property		1	Madera Marketplace	0.5%	15%
10.04	Property		1	Silverdale Village	0.3%	8%
10.05	Property		1	Port Orchard	0.2%	7%
10.06	Property		1	Grafton	0.1%	4%
10.07	Property		1	Fallon	0.1%	3%
11.00	Loan	5, 10, 21, 33, 34	10	Blackbird Portfolio	3.3%		AREF2	AREF2	NAP	NAP
11.01	Property		1	1100, 1200, and 1300 Victors Way	0.5%	17%
11.02	Property		1	1200 Eisenhower Place	0.4%	13%
11.03	Property		1	3767-3891 Ranchero Drive	0.4%	12%
11.04	Property		1	1300 Eisenhower Place	0.4%	11%
11.05	Property		1	1500 Eisenhower Place	0.4%	11%
11.06	Property		1	1100 Eisenhower Place	0.3%	10%

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	% of Initial Pool Balance	% of Loan Balance	Mortgage Loan Originator⁽¹⁾	Mortgage Loan Seller	Related Group	Crossed Group
11.07	Property		1	1194 Oak Valley Drive	0.3%	10%
11.08	Property		1	3940-3948 Ranchero Drive	0.2%	7%
11.09	Property		1	950 Victors Way	0.2%	5%
11.10	Property		1	825 Victors Way	0.2%	5%
12.00	Loan	5, 9, 35	1	Centre Pointe Portfolio	3.3%	100%	AREF2	AREF2	NAP	NAP
13.00	Loan	36, 37	1	Gwinnett Marketfair	2.8%	100%	WFB	WFB	Group 3	NAP
14.00	Loan	21, 38, 39	7	Princeton ND Portfolio	2.7%		AREF2	AREF2	NAP	NAP
14.01	Property		1	Timber Cove	0.7%	24%
14.02	Property		1	Custer Crossing and Raven Wood	0.5%	20%
14.03	Property		1	Raven Ridge	0.5%	19%
14.04	Property		1	Fox Run	0.4%	16%
14.05	Property		1	Killdeer Highlands	0.3%	9%
14.06	Property		1	Bakken Ridge	0.2%	7%
14.07	Property		1	Creekside Cottages	0.1%	5%
15.00	Loan	40	1	Rockwall Market Center	2.4%	100%	AREF2	AREF2	NAP	NAP
16.00	Loan	41	1	Mountain Lakes Estates	2.4%	100%	MSBNA	MSMCH	NAP	NAP
17.00	Loan	21	3	Lucas Industrial Portfolio	1.6%		WFB	WFB	NAP	NAP
17.01	Property		1	Union Business Park	0.6%	38%
17.02	Property		1	Stanford Industrial Park	0.5%	34%
17.03	Property		1	Auto Works Industrial Park	0.5%	29%
18.00	Loan	42	1	Bangor Parkade	1.6%	100%	MSBNA	MSMCH	NAP	NAP
19.00	Loan	43, 44	1	DoubleTree Hotel Largo	1.6%	100%	WFB	WFB	NAP	NAP
20.00	Loan	45, 46, 47	1	Tri Palms Estates & Country Club	1.5%	100%	WFB	WFB	NAP	NAP
21.00	Loan		1	Shoppes at Waterford	1.4%	100%	SMC	SMC	Group 4	NAP
22.00	Loan		1	419 West River Road	1.3%	100%	AREF2	AREF2	NAP	NAP
23.00	Loan		1	Baytowne Shoppes and Square	1.3%	100%	MSBNA	MSMCH	NAP	NAP
24.00	Loan		1	1777 Vine Street	1.3%	100%	WFB	WFB	NAP	NAP
25.00	Loan		1	Monkey Junction	1.2%	100%	SMC	SMC	Group 4	NAP
26.00	Loan	48, 49	1	The West Wing	1.1%	100%	SMC	SMC	NAP	NAP
27.00	Loan		1	Tammany on the Ponds	1.1%	100%	WFB	WFB	Group 6	NAP
28.00	Loan	50, 51	1	Residence Inn Charleston Summerville	1.0%	100%	WFB	WFB	Group 5	NAP
29.00	Loan	52, 53	1	Courtyard Charleston Summerville	1.0%	100%	WFB	WFB	Group 5	NAP
30.00	Loan		1	McDonough Marketplace	1.0%	100%	WFB	WFB	Group 3	NAP
31.00	Loan		1	Triangle Center	0.9%	100%	AREF2	AREF2	NAP	NAP
32.00	Loan		1	Dixon Street	0.8%	100%	MSBNA	MSMCH	NAP	NAP
33.00	Loan	54	1	Highlands Plaza	0.8%	100%	AREF2	AREF2	NAP	NAP
34.00	Loan		1	Nogales Plaza	0.8%	100%	MSBNA	MSMCH	NAP	NAP
35.00	Loan		1	Natchez Promenade	0.6%	100%	AREF2	AREF2	NAP	NAP
36.00	Loan		1	Sullivan Parke IV	0.6%	100%	MSBNA	MSMCH	Group 7	NAP
37.00	Loan		1	Sorrento View Apartments	0.6%	100%	WFB	WFB	NAP	NAP
38.00	Loan	5, 55	1	Metroplex	0.5%	100%	GACC	AREF2	NAP	NAP
39.00	Loan	5, 10	1	3800 Horizon Boulevard	0.5%	100%	AREF2	AREF2	NAP	NAP
40.00	Loan		1	Sullivan Parke III	0.5%	100%	MSBNA	MSMCH	Group 7	NAP
41.00	Loan	21	2	Graves & Dalworth Business Park	0.4%		WFB	WFB	NAP	NAP
41.01	Property		1	Graves Industrial Park	0.2%	55%
41.02	Property		1	Dalworth Business Park	0.2%	45%
42.00	Loan	56	1	Tammany Hills Apartments	0.3%	100%	WFB	WFB	Group 6	NAP
43.00	Loan		1	Lee Vista Retail Center	0.3%	100%	MSBNA	MSMCH	NAP	NAP
44.00	Loan		1	Broad Street Commons	0.3%	100%	WFB	WFB	NAP	NAP
45.00	Loan		1	Walgreens - Rosedale	0.2%	100%	WFB	WFB	NAP	NAP
46.00	Loan	5	1	Westfarms	0.2%	100%	WFB	WFB	NAP	NAP

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Address	City	County	State	Zip Code	General Property Type
1.00	Loan	5	1	60 Hudson	60 Hudson Street	New York	New York	NY	10013	Other
2.00	Loan	5, 6, 7, 8, 9, 10	1	Arundel Mills and Marketplace	7000 and 7600 Arundel Mills Circle	Hanover	Anne Arundel	MD	21076	Retail
3.00	Loan	5, 9, 11, 12, 13	1	Fashion Valley Mall	7007 Friars Road	San Diego	San Diego	CA	92108	Retail
4.00	Loan	5, 14, 15, 16	1	Philadelphia Marriott Downtown	1201 and 1113 Market Street	Philadelphia	Philadelphia	PA	19107	Hospitality
5.00	Loan	5, 17, 18, 19	1	CX - 250 Water Street	250 Water Street	Cambridge	Middlesex	MA	02141	Mixed Use
6.00	Loan	5, 10, 20, 21, 22, 23, 24, 25	3	BLE Portfolio	Various	Houston	Harris	TX	Various	Multifamily
6.01	Property		1	Lakeside Forest	1251 Wilcrest Drive	Houston	Harris	TX	77042	Multifamily
6.02	Property		1	The Establishment	2235 Winrock Boulevard	Houston	Harris	TX	77057	Multifamily
6.03	Property		1	Barcelona	6434 Ella Lee Lane	Houston	Harris	TX	77057	Multifamily
7.00	Loan	5, 24, 25, 26, 27, 28	1	La Primavera	10000 Hammerly Boulevard	Houston	Harris	TX	77080	Multifamily
8.00	Loan	9	1	Cross County Plaza	4348 Okeechobee Boulevard	West Palm Beach	Palm Beach	FL	33409	Retail
9.00	Loan	5, 10, 21, 29, 30, 31	29	RTL Retail Portfolio	Various	Various	Various	Various	Various	Retail
9.01	Property		1	Northwoods Marketplace	7612 and 7620 Rivers Avenue	North Charleston	Charleston	SC	29406	Retail
9.02	Property		1	The Centrum	10200, 10400, 10404, 10408, 10412, 10416, 10420, 10500, 10610 Centrum Parkway	Pineville	Mecklenburg	NC	28134	Retail
9.03	Property		1	Lawton Marketplace Lawton	1726, 1732, 1806, 1824, 1832, 1906, 1912, 1920, 1926, 2004, 2006, 1836, 1948, 2136 and 1754-1772 Northwest 82nd Street	Lawton	Comanche	OK	73505	Retail
9.04	Property		1	Carlisle Crossing	202, 214, 230-238, 248-266, 299 Westminster Drive	Carlisle	Cumberland	PA	17013	Retail
9.05	Property		1	Southway Shopping Center	8000-8230 South Gessner Road	Houston	Harris	TX	77036	Retail
9.06	Property		1	Parkway Centre South Shopping	1701-1751 Stringtown Road	Grove City	Franklin	OH	43123	Retail
9.07	Property		1	Houma Crossing - Houma	1779, 1781, 1783 and 1785 Martin Luther King Jr. Boulevard	Houma	Terrebonne Parish	LA	70360	Retail
9.08	Property		1	North Lake Square	1122, 1134, 1146, 1150, 1154, 1160 Dawsonville Highway	Gainesville	Hall	GA	30501	Retail
9.09	Property		1	Liberty Crossing - Rowlett	5601, 5701-5709 President George Bush Highway	Rowlett	Dallas	TX	75089	Retail
9.10	Property		1	Owensboro Towne Center	5099, 5101, 5115, 5135, 5241 Frederica Street	Owensboro	Daviess	KY	42301	Retail
9.11	Property		1	Harbor Town Center	4125, 4140, 4144 Harbor Town Lane, 4411, 4421 Dewey Street, and 4450 Calumet Avenue	Manitowoc	Manitowoc	WI	54220	Retail
9.12	Property		1	Lord Salisbury Center	2637, 2639, 2641, 2649, 2653, 2657 North Salisbury Boulevard	Salisbury	Wicomico	MD	21801	Retail
9.13	Property		1	Terrell Mill Village	1453 Terrell Mill Road Southeast	Marietta	Cobb	GA	30067	Retail
9.14	Property		1	The Ridge at Turtle Creek	6169, 6173, and 6175 US Highway 98	Hattiesburg	Lamar	MS	39402	Retail
9.15	Property		1	Nordstrom Rack	1702 North Dale Mabry Highway	Tampa	Hillsborough	FL	33607	Retail
9.16	Property		1	Ventura Place	8810, 8850, 8900 Holly Avenue Northeast	Albuquerque	Bernalillo	NM	87122	Retail
9.17	Property		1	Village at Quail Springs Oklahoma City	2201 and 2135 West Memorial Road	Oklahoma City	Oklahoma	OK	73134	Retail
9.18	Property		1	Wallace Commons I	1311, 1317, 1321, 1325, 1333, 1345, 1349, 1371 and 1395 Klumac Road	Salisbury	Rowan	NC	28147	Retail
9.19	Property		1	Waterford Park South	1020 & 1040 Veterans Parkway	Clarksville	Clark	IN	47129	Retail
9.20	Property		1	Evergreen Marketplace	9140, 9142, 9144 South Western Avenue	Evergreen Park	Cook	IL	60805	Retail
9.21	Property		1	Derby Marketplace	1712, 1800, 1812 North Rock Road	Derby	Sedgwick	KS	67037	Retail
9.22	Property		1	Stoneridge Village	707, 731, 735, 739 Stoneridge Parkway	Jefferson City	Cole	MO	65109	Retail
9.23	Property		1	Fresh Thyme and DSW	4302-4320 Coldwater Road	Fort Wayne	Allen	IN	46805	Retail
9.24	Property		1	Crossroads Annex - Lafayette	609 Settlers Trace Boulevard	Lafayette	Lafayette Parish	LA	70508	Retail
9.25	Property		1	Tellico Village	101 Cheeyo Way	Loudon	Loudon	TN	37774	Retail
9.26	Property		1	Walmart Neighborhood Market	10635, 10645, 10655 Dorchester Road	Summerville	Dorchester	SC	29485	Retail
9.27	Property		1	PetSmart & Old Navy	2389-2409 Taylor Park Drive	Reynoldsburg	Fairfield	OH	43068	Retail
9.28	Property		1	Sutter's Creek	750, 760, 794 Sutter's Creek Boulevard	Rocky Mount	Nash	NC	27804	Retail
9.29	Property		1	Mattress Firm and Panera Bread	38295 - 38305 Chestnut Ridge Road	Elyria	Lorain	OH	44035	Retail
10.00	Loan	5, 10, 21, 32	7	Rhino Retail Portfolio 2	Various	Various	Various	Various	Various	Retail
10.01	Property		1	Monte Vista	2801-3027 Countryside Drive	Turlock	Stanislaus	CA	95380	Retail
10.02	Property		1	Sherwood	16030 Southwest Tualatin Sherwood Road	Sherwood	Washington	OR	97140	Retail
10.03	Property		1	Madera Marketplace	2001-2295 West Cleveland Avenue	Madera	Madera	CA	93637	Retail
10.04	Property		1	Silverdale Village	9333-9481 Silverdale Way Northwest	Silverdale	Kitsap	WA	98383	Retail
10.05	Property		1	Port Orchard	4350 Southeast Mile Hill Drive	Port Orchard	Kitsap	WA	98366	Retail
10.06	Property		1	Grafton	1827 Wisconsin Avenue	Grafton	Ozaukee	WI	53024	Retail
10.07	Property		1	Fallon	2105 West Williams Avenue	Fallon	Churchill	NV	89406	Retail
11.00	Loan	5, 10, 21, 33, 34	10	Blackbird Portfolio	Various	Ann Arbor	Washtenaw	MI	48108	Various
11.01	Property		1	1100, 1200, and 1300 Victors Way	1100, 1200, 1300 Victors Way	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.02	Property		1	1200 Eisenhower Place	1200 Eisenhower Place	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.03	Property		1	3767-3891 Ranchero Drive	3767-3891 Ranchero Drive	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.04	Property		1	1300 Eisenhower Place	1300 Eisenhower Place	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.05	Property		1	1500 Eisenhower Place	1500 Eisenhower Place	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.06	Property		1	1100 Eisenhower Place	1100 Eisenhower Place	Ann Arbor	Washtenaw	MI	48108	Mixed Use

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Address	City	County	State	Zip Code	General Property Type
11.07	Property		1	1194 Oak Valley Drive	1194 Oak Valley Drive	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.08	Property		1	3940-3948 Ranchero Drive	3940-3948 Ranchero Drive	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.09	Property		1	950 Victors Way	930 and 950 Victors Way	Ann Arbor	Washtenaw	MI	48108	Mixed Use
11.10	Property		1	825 Victors Way	825 Victors Way	Ann Arbor	Washtenaw	MI	48108	Office
12.00	Loan	5, 9, 35	1	Centre Pointe Portfolio	9100, 9050, 9075, 9025 & 9277 Centre Pointe Drive	West Chester	Butler	OH	45069	Office
13.00	Loan	36, 37	1	Gwinnett Marketfair	3675 Satellite Boulevard	Duluth	Gwinnett	GA	30096	Retail
14.00	Loan	21, 38, 39	7	Princeton ND Portfolio	Various	Various	Various	ND	Various	Multifamily
14.01	Property		1	Timber Cove	1100, 1104, 1108, & 1112 Elm Street Southeast	Tioga	Williams	ND	58852	Multifamily
14.02	Property		1	Custer Crossing and Raven Wood	1541-1763 Carroll Street and 931 2nd Street East	Dickinson	Stark	ND	58601	Multifamily
14.03	Property		1	Raven Ridge	1053 and 1153 Koch Street	Dickinson	Stark	ND	58601	Multifamily
14.04	Property		1	Fox Run	3964 89th Avenue Northwest	New Town	Mountrail	ND	58763	Multifamily
14.05	Property		1	Killdeer Highlands	124 Park Lane	Killdeer	Dunn	ND	58640	Multifamily
14.06	Property		1	Bakken Ridge	210 11th Avenue Northeast	Watford City	McKenzie	ND	58854	Multifamily
14.07	Property		1	Creekside Cottages	504-525 5th Street Southeast and 504-525 6th Street Southeast	Watford City	McKenzie	ND	58854	Multifamily
15.00	Loan	40	1	Rockwall Market Center	2663-2853 Market Center Drive	Rockwall	Rockwall	TX	75032	Retail
16.00	Loan	41	1	Mountain Lakes Estates	765 South Meadows Parkway	Reno	Washoe	NV	89521	Multifamily
17.00	Loan	21	3	Lucas Industrial Portfolio	Various	Various	Arapahoe	CO	80110	Industrial
17.01	Property		1	Union Business Park	1855-1865 West Union Avenue	Sheridan	Arapahoe	CO	80110	Industrial
17.02	Property		1	Stanford Industrial Park	1825-1835 West Union Avenue & 1910 West Stanford Avenue	Sheridan	Arapahoe	CO	80110	Industrial
17.03	Property		1	Auto Works Industrial Park	1942-1952 West Union Avenue	Englewood	Arapahoe	CO	80110	Industrial
18.00	Loan	42	1	Bangor Parkade	482-534 Stillwater Avenue	Bangor	Penobscot	ME	04401	Retail
19.00	Loan	43, 44	1	DoubleTree Hotel Largo	9100 Basil Court	Upper Marlboro	Prince George's	MD	20774	Hospitality
20.00	Loan	45, 46, 47	1	Tri Palms Estates & Country Club	32700 Desert Moon Drive	Thousand Palms	Riverside	CA	92276	Other
21.00	Loan		1	Shoppes at Waterford	1149, 1175 and 1191 University Drive	Burlington	Alamance	NC	27215	Retail
22.00	Loan		1	419 West River Road	419 West River Road	Louisburg	Franklin	NC	27549	Industrial
23.00	Loan		1	Baytowne Shoppes and Square	2033 North Prospect Avenue	Champaign	Champaign	IL	61822	Retail
24.00	Loan		1	1777 Vine Street	1777 Vine Street	Los Angeles	Los Angeles	CA	90028	Office
25.00	Loan		1	Monkey Junction	5120 South College Road	Wilmington	New Hanover	NC	28412	Retail
26.00	Loan	48, 49	1	The West Wing	2501 East Fowler Avenue	Tampa	Hillsborough	FL	33612	Hospitality
27.00	Loan		1	Tammany on the Ponds	7610 Heritage Drive, 7832 Heritage Drive, and 310 South Canal Road	Lansing	Eaton	MI	48917	Multifamily
28.00	Loan	50, 51	1	Residence Inn Charleston Summerville	1528 North Main Street	Summerville	Berkeley	SC	29486	Hospitality
29.00	Loan	52, 53	1	Courtyard Charleston Summerville	1510 Rose Drive	Summerville	Berkeley	SC	29486	Hospitality
30.00	Loan		1	McDonough Marketplace	105-133 Willow Lane, 1124 Highway 20/81	McDonough	Henry	GA	30253	Retail
31.00	Loan		1	Triangle Center	2000 North Mays Street	Round Rock	Williamson	TX	78664	Retail
32.00	Loan		1	Dixon Street	4121 Dixon Street	Des Moines	Polk	IA	50313	Industrial
33.00	Loan	54	1	Highlands Plaza	2253 & 2257 North Loop 336 West	Conroe	Montgomery	TX	77304	Mixed Use
34.00	Loan		1	Nogales Plaza	251-490 North Grand Court Plaza	Nogales	Santa Cruz	AZ	85621	Retail
35.00	Loan		1	Natchez Promenade	350 John R Junkin Drive	Natchez	Adams	MS	39120	Retail
36.00	Loan		1	Sullivan Parke IV	2295 Lafayette Park Drive	Easton	Northampton	PA	18040	Multifamily
37.00	Loan		1	Sorrento View Apartments	12495 Southwest Conestoga Drive	Beaverton	Washington	OR	97008	Multifamily
38.00	Loan	5, 55	1	Metroplex	3530 Wilshire Boulevard	Los Angeles	Los Angeles	CA	90010	Office
39.00	Loan	5, 10	1	3800 Horizon Boulevard	3800 Horizon Boulevard	Feasterville-Trevose	Bucks	PA	19053	Office
40.00	Loan		1	Sullivan Parke III	2265 Lafayette Park Drive	Easton	Northampton	PA	18040	Multifamily
41.00	Loan	21	2	Graves & Dalworth Business Park	Various	Various	Tarrant	TX	Various	Industrial
41.01	Property		1	Graves Industrial Park	3620 Graves Boulevard	Pantego	Tarrant	TX	76013	Industrial
41.02	Property		1	Dalworth Business Park	2345 Dalworth Street	Grand Prairie	Tarrant	TX	75050	Industrial
42.00	Loan	56	1	Tammany Hills Apartments	3010 Staten Avenue & 3015 Staten Avenue	Lansing	Ingham	MI	48910	Multifamily
43.00	Loan		1	Lee Vista Retail Center	6125 South Semoran Boulevard	Orlando	Orange	FL	32822	Retail
44.00	Loan		1	Broad Street Commons	3300 East Broad Street	Mansfield	Tarrant	TX	76063	Retail
45.00	Loan		1	Walgreens - Rosedale	8606 Philadelphia Road	Rosedale	Baltimore	MD	21237	Retail
46.00	Loan	5	1	Westfarms	1500 New Britain Avenue	West Hartford	Hartford	CT	06110	Retail

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Detailed Property Type	Year Built	Year Renovated	Number of Units	Unit of Measure	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)
1.00	Loan	5	1	60 Hudson	Data Center	1930	2013	1,149,619	SF	243.56	90,000,000	90,000,000
2.00	Loan	5, 6, 7, 8, 9, 10	1	Arundel Mills and Marketplace	Super Regional Mall	2000; 2002; 2012	NAP	1,938,983	SF	185.66	90,000,000	90,000,000
3.00	Loan	5, 9, 11, 12, 13	1	Fashion Valley Mall	Super Regional Mall	1969	2023	1,377,155	SF	326.76	75,000,000	75,000,000
4.00	Loan	5, 14, 15, 16	1	Philadelphia Marriott Downtown	Full Service	1990; 1995	2023	1,408	Rooms	152,698.86	61,666,666	61,666,666
5.00	Loan	5, 17, 18, 19	1	CX - 250 Water Street	Lab/Office	2022	NAP	479,004	SF	1,109.59	61,250,000	61,250,000
6.00	Loan	5, 10, 20, 21, 22, 23, 24, 25	3	BLE Portfolio	Garden	Various	2019-2020	680	Units	79,513.89	27,300,000	27,300,000
6.01	Property		1	Lakeside Forest	Garden	1975	2019-2020	240	Units		12,795,283	12,795,283
6.02	Property		1	The Establishment	Garden	1971	2019-2020	313	Units		10,325,544	10,325,544
6.03	Property		1	Barcelona	Garden	1963	2019-2020	127	Units		4,179,173	4,179,173
7.00	Loan	5, 24, 25, 26, 27, 28	1	La Primavera	Garden	1974	2019-2020	328	Units	79,513.89	12,700,000	12,700,000
8.00	Loan	9	1	Cross County Plaza	Anchored	1991	1998	347,093	SF	115.24	40,000,000	40,000,000
9.00	Loan	5, 10, 21, 29, 30, 31	29	RTL Retail Portfolio	Various	Various	Various	3,117,102	SF	83.41	30,000,000	30,000,000
9.01	Property		1	Northwoods Marketplace	Anchored	1998	NAP	236,078	SF		2,480,769	2,480,769
9.02	Property		1	The Centrum	Anchored	1997	2020	274,446	SF		1,985,769	1,985,769
9.03	Property		1	Lawton Marketplace Lawton	Anchored	2013	2023	196,715	SF		1,866,923	1,866,923
9.04	Property		1	Carlisle Crossing	Anchored	2005	NAP	152,487	SF		1,818,462	1,818,462
9.05	Property		1	Southway Shopping Center	Anchored	1976-2011	NAP	181,836	SF		1,806,923	1,806,923
9.06	Property		1	Parkway Centre South Shopping	Anchored	2004	NAP	131,887	SF		1,563,462	1,563,462
9.07	Property		1	Houma Crossing - Houma	Anchored	2008	NAP	181,423	SF		1,493,077	1,493,077
9.08	Property		1	North Lake Square	Anchored	2015; 2016	NAP	140,116	SF		1,475,769	1,475,769
9.09	Property		1	Liberty Crossing - Rowlett	Anchored	2007	NAP	105,769	SF		1,438,846	1,438,846
9.10	Property		1	Owensboro Towne Center	Anchored	1992; 1996; 1997; 1999	2015	164,941	SF		1,367,308	1,367,308
9.11	Property		1	Harbor Town Center	Anchored	2005	NAP	138,744	SF		1,107,692	1,107,692
9.12	Property		1	Lord Salisbury Center	Anchored	2005	NAP	113,821	SF		1,054,615	1,054,615
9.13	Property		1	Terrell Mill Village	Anchored	1974	2012	75,184	SF		1,036,154	1,036,154
9.14	Property		1	The Ridge at Turtle Creek	Anchored	1992	NAP	98,705	SF		933,462	933,462
9.15	Property		1	Nordstrom Rack	Shadow Anchored	1994	NAP	45,457	SF		890,769	890,769
9.16	Property		1	Ventura Place	Anchored	2008	NAP	66,595	SF		848,077	848,077
9.17	Property		1	Village at Quail Springs Oklahoma City	Anchored	1984	2004	100,404	SF		800,769	800,769
9.18	Property		1	Wallace Commons I	Anchored	2008	NAP	98,509	SF		770,769	770,769
9.19	Property		1	Waterford Park South	Anchored	2005	2008	91,906	SF		759,231	759,231
9.20	Property		1	Evergreen Marketplace	Anchored	2013	NAP	49,842	SF		686,538	686,538
9.21	Property		1	Derby Marketplace	Anchored	2015	NAP	100,000	SF		632,308	632,308
9.22	Property		1	Stoneridge Village	Anchored	2008	NAP	72,483	SF		617,308	617,308
9.23	Property		1	Fresh Thyme and DSW	Anchored	1985	2014	49,033	SF		451,154	451,154
9.24	Property		1	Crossroads Annex - Lafayette	Anchored	2012	NAP	40,578	SF		428,077	428,077
9.25	Property		1	Tellico Village	Anchored	2008	NAP	40,928	SF		396,923	396,923
9.26	Property		1	Walmart Neighborhood Market	Anchored	2015	NAP	51,441	SF		373,846	373,846
9.27	Property		1	PetSmart & Old Navy	Anchored	2012	NAP	28,970	SF		342,692	342,692
9.28	Property		1	Sutter's Creek	Anchored	1996	NAP	80,004	SF		310,385	310,385
9.29	Property		1	Mattress Firm and Panera Bread	Shadow Anchored	2016	NAP	8,800	SF		261,923	261,923
10.00	Loan	5, 10, 21, 32	7	Rhino Retail Portfolio 2	Anchored	Various	Various	827,429	SF	157.72	30,000,000	30,000,000
10.01	Property		1	Monte Vista	Anchored	2000	2015	275,087	SF		13,333,333	13,333,333
10.02	Property		1	Sherwood	Anchored	1995	NAP	125,515	SF		5,632,184	5,632,184
10.03	Property		1	Madera Marketplace	Anchored	1992	NAP	134,833	SF		4,643,678	4,643,678
10.04	Property		1	Silverdale Village	Anchored	1965	2023	73,818	SF		2,367,816	2,367,816
10.05	Property		1	Port Orchard	Anchored	1995	2022	75,349	SF		2,068,966	2,068,966
10.06	Property		1	Grafton	Anchored	1989	2022	82,374	SF		1,126,437	1,126,437
10.07	Property		1	Fallon	Anchored	1990	NAP	60,453	SF		827,586	827,586
11.00	Loan	5, 10, 21, 33, 34	10	Blackbird Portfolio	Various	Various	Various	427,513	SF	83.62	30,000,000	30,000,000
11.01	Property		1	1100, 1200, and 1300 Victors Way	Office/Industrial/Lab	1999	2022	68,348	SF		5,019,116	5,019,116
11.02	Property		1	1200 Eisenhower Place	Office/Industrial/Lab	1985	2007	48,368	SF		3,950,145	3,950,145
11.03	Property		1	3767-3891 Ranchero Drive	Office/Industrial	2000	2014	59,335	SF		3,674,874	3,674,874
11.04	Property		1	1300 Eisenhower Place	Office/Industrial/Lab	1985	2007	42,691	SF		3,248,203	3,248,203
11.05	Property		1	1500 Eisenhower Place	Office/Industrial	1987	2006	42,874	SF		3,211,500	3,211,500
11.06	Property		1	1100 Eisenhower Place	Office/Industrial/Lab	1985	2007	39,450	SF		3,027,986	3,027,986

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-257991-09

(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, “AREF2” denotes Argentic Real Estate Finance 2 LLC, “SMC” denotes Starwood Mortgage Capital LLC, “Barclays” denotes Barclays Capital Real Estate Inc., "BMO" denotes Bank of Montreal, "GACC" denotes German American Capital Corporation.
(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 (60 Hudson), Mortgage Loan No. 2 (Arundel Mills and Marketplace), Mortgage Loan No. 3 (Fashion Valley Mall), Mortgage Loan No. 4 (Philadelphia Marriott Downtown), Mortgage Loan No. 5 (CX - 250 Water Street), Mortgage Loan No. 6 (BLE Portfolio), Mortgage Loan No. 7 (La Primavera), Mortgage Loan No. 9 (RTL Retail Portfolio), Mortgage Loan No. 10 (Rhino Retail Portfolio 2), Mortgage Loan No. 11 (Blackbird Portfolio), Mortgage Loan No. 12 (Centre Pointe Portfolio), Mortgage Loan No. 38 (Metroplex), Mortgage Loan No. 39 (3800 Horizon Boulevard) and Mortgage Loan No. 46 (Westfarms), each such Mortgage Loan is part of a whole loan related to the Issuing Entity. For further information, with respect to each serviced whole loan, see “Description of the Mortgage Pool—The Whole Loans—The Serviced Pari Passu Whole Loans” and “Pooling and Servicing Agreement”, and with respect to each non-serviced whole loan, see “Description of the Mortgage Pool—The Whole Loans—The Non-Serviced Pari Passu Whole Loans", "Pooling and Servicing Agreement—Servicing of the Non-Serviced Mortgage Loans", and "—Servicing of the Servicing Shift Mortgage Loans and the Fashion Valley Mall Whole Loan."
(6)	With respect to Mortgage Loan No. 2 (Arundel Mills and Marketplace), the total SF consists of 1,391,652 SF of owned improvements and 547,331 SF of leased fee improvements. The Cut-off Date Balance Per SF, Maturity Date Balance Per SF, and As-Is Appraised Value Per SF are based on the total SF of 1,938,983. The Cut-off Date Balance Per SF, Maturity Date Balance Per SF, and As-Is Appraised Value Per SF based on the owned SF of 1,391,652 is $258.69, $258.69, and $625.59, respectively.
(7)	With respect to Mortgage Loan No. 2 (Arundel Mills and Marketplace), occupancy represents the occupancy excluding square footage from the leased fee tenant, Live Casino Hotel Maryland, and is based on the owned SF totaling 1,391,652. Occupancy including Live Casino Hotel Maryland is 98.8%.
(8)	With respect to Mortgage Loan No. 2 (Arundel Mills and Marketplace), the largest tenant, Live Casino Hotel Maryland, is a leased fee tenant, which owns its improvements.
(9)	With respect to Mortgage Loan No. 2 (Arundel Mills and Marketplace), Mortgage Loan No. 3 (Fashion Valley Mall), Mortgage Loan No. 8 (Cross County Plaza) and Mortgage Loan No. 12 (Centre Pointe Portfolio), the related loan documents permit an outparcel, anchor pad or other release without prepayment or defeasance. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in this prospectus.

(10)	With respect to Mortgage Loan No. 2 (Arundel Mills and Marketplace), Mortgage Loan No. 6 (BLE Portfolio), Mortgage Loan No. 9 (RTL Retail Portfolio), Mortgage Loan No. 10 (Rhino Retail Portfolio 2), Mortgage Loan No. 11 (Blackbird Portfolio) and Mortgage Loan No. 39 (3800 Horizon Boulevard) the related loan documents permit a partial collateral release subject to LTV, DSCR and/or Debt Yield tests, or other release conditions in connection with a partial defeasance, partial prepayment or partial assumption of the related Mortgage Loan. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Defeasance” and “—Releases; Partial Releases; Property Additions” in the prospectus.
(11)	With respect to Mortgage Loan No. 3 (Fashion Valley Mall), the Fashion Valley Mall Whole Loan was co-originated on May 25, 2023 by BANA, JPMorgan Chase Bank, National Association, Barclays and BMO. The Fashion Valley Mall Mortgage Loan is evidenced by the non-controlling notes A-1-1-1 and A-1-4, originated by BANA, A-3-2 and A-4-5, originated by BMO and Barclays, respectively, and subsequently acquired by MSMCH, with an aggregate outstanding principal balance as of the Cut-off Date of $75,000,000.
(12)	With respect to Mortgage Loan No. 3 (Fashion Valley Mall), the historical financial information includes the JCPenney and Neiman Marcus release parcels, which are permitted to be freely released by the borrower during the loan term.
(13)	With respect to Mortgage Loan No. 3 (Fashion Valley Mall), the Appraised Value ($) represents the “hypothetical as-is value” which excludes the value attributed to the JCPenney release parcel and the Neiman Marcus release parcel. The “as-is” appraised value of $1,450,000,000 results in a Cut-off Date LTV Ratio (%) and LTV Ratio at Maturity / ARD (%) of 31.0% for the Fashion Valley Mall Whole Loan.
(14)	With respect to Mortgage Loan No. 4 (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.
(15)	With respect to Mortgage Loan No. 4 (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.
(16)	With respect to Mortgage Loan No. 4 (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.

(17)	With respect to Mortgage Loan No. 5 (CX - 250 Water Street), the Whole Loan is structured with an Anticipated Repayment Date of February 10, 2033 and a final maturity date of February 10, 2038. The initial interest rate for the CX - 250 Water Street Whole Loan is 5.5095% per annum. After the ARD, the interest rate will increase to the greater of (i) 7.5095% and (ii) the sum of the swap rate in effect on the ARD plus 4.2800%. The metrics presented above are calculated based on the ARD.
(18)	With respect to Mortgage Loan No. 5 (CX - 250 Water Street), the Appraised Value represents the Prospective Market Value Upon Completion & Stabilization, which assumes that, as of January 1, 2023, remaining construction balances are paid, outstanding tenant improvements are paid to the tenant, the tenant has commenced rent payments, and retail space leasing costs are paid, all of which have occurred other than payment of $5,932,952 for base building work and $7,160,274 for tenant improvements and future retail leasing costs. Such amounts for base building work and tenant improvements were fully reserved by the lender at loan origination. The appraisal concluded to an “as-is” appraised value of $960,000,000 as of May 4, 2022. The “as-is” appraised value results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 55.4% for the CX - 250 Water Street Whole Loan. The appraisal concluded to an “as dark” appraised value of $920,000,000 as of May 4, 2022. The “as dark” appraised value results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 57.8% for the CX - 250 Water Street Whole Loan.
(19)	With respect to Mortgage Loan No. 5 (CX - 250 Water Street), the related mixed-use Mortgaged Property is comprised of approximately 60% lab space and 40% office space.
(20)	With respect to Mortgage Loan No. 6 (BLE Portfolio), the Whole Loan was structured with in-place cash management at origination, which will continue until the tax exemptions under the Public Facility Corporation Program have been granted for the BLE Portfolio Mortgaged Properties. Any future cash management periods will occur upon the earliest of the following: (i) the occurrence of an event of default under the BLE Portfolio Whole Loan documents; or (ii) if, as of the last day of any calendar quarter, the net cash flow debt service coverage ratio is less than 1.15x based on the trailing 12 months.
(21)	With respect to Mortgage Loan No. 6 (BLE Portfolio), Mortgage Loan No. 9 (RTL Retail Portfolio), Mortgage Loan No. 10 (Rhino Retail Portfolio 2), Mortgage Loan No. 11 (Blackbird Portfolio), Mortgage Loan No. 14 (Princeton ND Portfolio), Mortgage Loan No. 17 (Lucas Industrial Portfolio) and Mortgage Loan No. 41 (Graves & Dalworth Business Park), such Mortgage Loan is secured by multiple Mortgaged Properties. For purposes of the statistical information set forth in the prospectus as to such Mortgage Loans, all LTV, DSCR, Debt Yield and Cut-off Date Balance per SF/Units/Rooms/Pads calculations are shown on an aggregate basis, and a portion of the Cut-off Date Balance has been allocated to each Mortgaged Property based on the respective Appraised Values and/or UW NCF, among other methods.
(22)	With respect to Mortgage Loan No. 6 (BLE Portfolio), a debt service grace period to impose late charge of five days is permitted once within any consecutive 12-month period.
(23)	With respect to Mortgage Loan No. 6 (BLE Portfolio), the Appraised Value shown represents the “As Encumbered” values of the leasehold interests for BLE Portfolio Mortgaged Properties as of October 1, 2023 for the Lakeside Forest Mortgaged Property and July 19, 2023 for The Establishment and Barcelona Mortgaged Properties, which assume the BLE Portfolio Mortgaged Properties are encumbered by a ground lease as part of the PFC Program and that the tax savings payment is subordinate to BLE Portfolio Whole Loans. The aggregate market-based “As Is” appraised value, which assumes no tax exemption, is $68,400,000.
(24)	With respect to Mortgage Loans No. 6 and 7 (BLE Portfolio and La Primavera), the two Whole Loans are cross-collateralized and cross-defaulted with one another. The LTV ratios, DSCRs, and debt yields shown are based upon the indebtedness of both Whole Loans. On an individual basis, without regard to the cross-collateralization feature, a related whole loan may have a higher LTV, lower DSCR, and/or lower debt yield than presented.

(25)	With respect to Mortgage Loans No. 6 and 7 (BLE Portfolio and La Primavera), each of the BLE Portfolio and La Primavera Mortgaged Properties are encumbered by a separate ground lease between the Texas Essential Housing Public Facility Corporation (“TEHPFC”), as ground lessor, and the applicable borrower, as ground lessee. Pursuant to each ground lease which each have scheduled lease expirations ranging from May 2122 to October 2122, with no extensions, the applicable borrower is required to pay TEHPFC, among other fees, as applicable, (i) an annual oversight and compliance fee equal to the sum of $100 per unit (the “Compliance Fee”) and (ii) an annual payment in the amount of 15% of the annual property tax savings received by the applicable borrower pursuant to the Tax Exemption (“Tax Savings Payment” and, together with the Compliance Fee, the “PFC Payments”). The TEHPFC entered into a fee agreement agreeing that all fees required under the PFC documents, including the PFC Payments, be paid from excess distributable cash, if any, after the payment of debt service payments in connection with the BLE Portfolio and La Primavera Whole Loans and operating expenses due and owing. The lender has established a reserve for the PFC Payments, provided, absent a continuing event of default under the BLE Portfolio and La Primavera Whole Loans, there is no obligation to make deposits into the PFC Payments reserve unless the borrowers fail to provide evidence of timely payment.
(26)	With respect to Mortgage Loan No. 7 (La Primavera), the Whole Loan was structured with in-place cash management at origination, which will continue until the tax exemptions under the Public Facility Corporation Program have been granted for the La Primavera Mortgaged Property. Any future cash management periods will occur upon the earliest of the following: (i) the occurrence of an event of default under the La Primavera Whole Loan documents; or (ii) if, as of the last day of any calendar quarter, the net cash flow debt service coverage ratio is less than 1.15x based on the trailing 12 months.
(27)	With respect to Mortgage Loan No. 7 (La Primavera), the Appraised Value shown represents the “As Encumbered” values of the leasehold interest as of October 1, 2023, which assumes the La Primavera Mortgaged Property is encumbered by a ground lease as part of the PFC Program and that the tax savings payment is subordinate to La Primavera Whole Loan. The market-based “As Is” appraised value, which assumes no Tax Exemption is granted for the La Primavera Mortgaged Property, is $32,700,000.
(28)	With respect to Mortgage Loan No. 7 (La Primavera), debt service payment grace period to impose late charge of five days is permitted once within any consecutive 12-month period.
(29)	With respect to Mortgage Loan No. 9 (RTL Retail Portfolio), the Appraised Value($) reflects the portfolio value of the RTL Retail Portfolio Properties which includes a premium over the aggregate of the individual property values. According to the individual appraisals, the aggregate appraised value of the individual properties equals $498,190,000 and results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 52.2%.
(30)	With respect to Mortgage Loan No. 9 (RTL Retail Portfolio), certain historical information prior to 2022 is limited to the information relating to the five properties acquired by the borrower sponsor in 2017 (the Liberty Crossing - Rowlett, Southway Shopping Center, Northwoods Marketplace, The Centrum, and Village at Quail Springs Oklahoma City Mortgaged Properties). The other 24 Mortgaged Properties were acquired by the borrower sponsor between February 2022 and April 2022, and accordingly, historical information for such 24 properties only includes information following the related acquisition date of the properties.
(31)	With respect to Mortgage Loan No. 9 (RTL Retail Portfolio), the RTL Retail Portfolio Whole Loan was co-originated by Barclays, Societe Generale Financial Corporation, BMO, and KeyBank National Association. MSMCH purchased non-controlling note A-3, with an original principal balance of $30,000,000, from Barclays on September 21, 2023, which represents the RTL Retail Portfolio Mortgage Loan.
(32)	With respect to Mortgage Loan No. 10 (Rhino Retail Portfolio 2), the Appraised Value (Other Than “As-Is”) assumes that certain escrows have been reserved for tenant improvement and leasing commissions, gap rent and free rent associated with the lease up of various tenant spaces in an estimated aggregate amount of $14,456,598. At origination of the related Whole Loan, the borrower reserved $468,576.00 for tenant improvement work for Planet Fitness, $8,513,459.87 to cover the cost of all outstanding tenant improvement and tenant obligations and $2,578,518.22 into a free rent reserve to cover up to 12 months of additional rent (depending on the tenant) and reimbursements for each tenant beyond their estimated rent commencement dates for aggregate reserves of $11,560,554.09.
(33)	With respect to Mortgage Loan No. 11 (Blackbird Portfolio), the Blackbird Portfolio Mortgaged Properties are comprised of 60.5% flex space, 32.4% lab space and 7.1% traditional office space.

(34)	With respect to Mortgage Loan No. 11 (Blackbird Portfolio), the As-Is Appraised Value represents the appraiser’s concluded portfolio value for the portfolio. Based on the cumulative individual property values, the As-Is Appraised Value is $65,420,000 and results in a Cut-off Date LTV Ratio and LTV Ratio at Maturity of 54.6% and 52.3%, respectively.
(35)	With respect to Mortgage Loan No. 12 (Centre Pointe Portfolio), a Grace Period – Late Fee (Days) of two days is permitted once within any consecutive 12-month period.
(36)	With respect to Mortgage Loan No. 13 (Gwinnett Marketfair), the Party City Reserve has been released due to satisfaction of the following requirements: a) no event of default, Cash Trap Event Period or Debt Yield Event Period is continuing, and (b) the bankruptcy of the tenant has terminated in a manner satisfactory to the lender, the related lease has been affirmed, and the terms of the affirmed lease are satisfactory to the lender.
(37)	With respect to Mortgage Loan No. 13 (Gwinnett Marketfair), Party City has a co-tenancy clause which will reduce their rent 50% if Burlington is not open and operational by 11/22/2023. Burlington is currently slated to open 12/1/2023. The reduced rent will reset to the full amount upon Burlington’s opening.
(38)	With respect to Mortgage Loan No. 14 (Princeton ND Portfolio), certain historical information for 2019, 2020 and 2021 is unavailable as the borrower acquired the Princeton ND Portfolio Mortgaged Properties between 2018 and 2022.
(39)	With respect to Mortgage Loan No. 14 (Princeton ND Portfolio), the Appraised Value is based on the extraordinary assumption that the Timber Cove Mortgaged Property did not require deferred maintenance. At origination, the borrower deposited $88,584.50 into a reserve to address deferred maintenance at the Mortgaged Properties, of which $21,720 were reserved to address required repairs at the Timber Cove Mortgaged Property.
(40)	With respect to Mortgage Loan No. 15 (Rockwall Market Center), a Grace Period – Late Fee (Days) of five days is permitted once within any consecutive 12-month period.
(41)	With respect to Mortgage Loan No. 16 (Mountain Lakes Estates), the Mortgage Loan documents provide for monthly cap ex escrow payments on and after the payment date occurring in July 2026, of 1/12th of $250.00 multiplied by the number of apartment units at the Mortgaged Property (initially $2,729 per month).
(42)	With respect to Mortgage Loan No. 18 (Bangor Parkade), the Appraised Value($) of $27,000,000 is based on the extraordinary assumption that funds will be placed in escrow for Books A Million gap rent and tenant improvements totaling $493,457. At origination, the borrower deposited $144,644 into a gap rent reserve and $348,813 into a tenant improvement reserve. The as-is appraised value of the Mortgaged Property without this extraordinary assumption is $26,600,000, and results in a Cut-off Date LTV Ratio and Maturity Date LTV Ratio of 56.4% and 53.5%, respectively.
(43)	With respect to Mortgage Loan No. 19 (DoubleTree Hotel Largo), the FF&E reserve will be equal to the greater of (i) the then-existing FF&E scheduled reserve amount or (ii) 1/12th of 4% of the underwritten revenue for the prior fiscal year. The monthly reserve amount is initially estimated at $22,721.
(44)	With respect to Mortgage Loan No. 19 (DoubleTree Hotel Largo), the Appraised Value represents the “As-Complete” value assuming that the change-of-ownership PIP Work, which is expected to be completed by September 27, 2024, is completed. An up-front PIP Reserve in the amount of $4 million was required, which is 100% of the estimated cost of the PIP. The As-Is appraised value assuming the PIP Work is not complete is $18,600,000, which equates to a Cut-Off Date LTV Ratio and LTV Ratio at Maturity of 79.0% and 70.9%, respectively.
(45)	With respect to Mortgage Loan No. 20 (Tri Palms Estates & Country Club), the golf course is currently closed for repairs due to damage from Tropical Storm Hilary.
(46)	With respect to Mortgage Loan No. 20 (Tri Palms Estates & Country Club), the SF represents the area of the golf course and excess land and excludes the manufactured housing community home sites.
(47)	With respect to Mortgage Loan No. 20 (Tri Palms Estates & Country Club), recreation fees, which are paid by the manufactured housing community lot owners, account for 95.3% of Effective Gross Income.

(48)	With respect to Mortgage Loan No. 26 (The West Wing), approximately 13.8% of the underwritten gross potential income is derived from three commercial and parking leases at the Mortgaged Property.
(49)	With respect to Mortgage Loan No. 26 (The West Wing), the Mortgaged Property is operated as an extended-stay hotel, which requires a minimum stay of 1 week, with the average length of tenancy being approximately 12 months. The existing zoning permits hotel and extended-stay hotel use and multifamily use is permitted only with a special use permit. The borrower sponsors are in the process of applying for special use approval for multifamily use. Once approved, the borrower sponsors reported that the special use approval would enable them to offer annual leases at the Mortgaged Property. The lender's underwriting assumes the Mortgaged Property continues to operate as a short-term rental. The appraised value presented assumes a hospitality use.
(50)	With respect to Mortgage Loan No. 28 (Residence Inn Charleston Summerville), the FF&E reserve may be adjusted on a quarterly basis in an amount equal to 1/12th of 4% of the trailing 12-month underwritten revenue for the prior fiscal quarter. The monthly reserve amount is initially estimated at $14,501.
(51)	With respect to Mortgage Loan No. 28 (Residence Inn Charleston Summerville), a grace period- default, (if the borrower fails to pay monthly debt service or an amount required to be paid into the reserve funds), of one day is permitted twice during the loan term.
(52)	With respect to Mortgage Loan No. 29 (Courtyard Charleston Summerville), the FF&E reserve may be adjusted on a quarterly basis in an amount equal to 1/12th of 4% of the trailing 12-month underwritten revenue for the prior fiscal quarter. The monthly reserve amount is initially estimated at $14,457.
(53)	With respect to Mortgage Loan No. 29 (Courtyard Charleston Summerville), a grace period- default, (if the borrower fails to pay monthly debt service or an amount required to be paid into the reserve funds), of one day is permitted twice during the loan term.
(54)	With respect to Mortgage Loan No. 33 (Highlands Plaza), the Mortgaged Property is comprised of 83.6% medical office space and 16.4% retail space.
(55)	With respect to Mortgage Loan No. 38 (Metroplex), once per calendar year during the term of the loan, the debt service payment grace period to impose late charge will be five business days.
(56)	With respect to Mortgage Loan No. 42 (Tammany Hills Apartments), the Underwritten NCF DSCR (x) is 1.52x, which is below the cash flow sweep trigger of 1.70x. However, the NCF DSCR cash flow sweep trigger calculation is based on actual taxes and trailing-12 expenses, which equates to a 1.75x NCF DSCR. Therefore, the loan is not in a cash flow sweep at time of securitization.

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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
1.00	Loan	5	1	60 Hudson	L(26),D(89),O(5)	124,308,174	50,782,190	73,525,984	6/30/2023	T-12	112,940,517	47,378,697	65,561,820	12/31/2022
2.00	Loan	5, 6, 7, 8, 9, 10	1	Arundel Mills and Marketplace	L(25),D(89),O(6)	69,724,516	18,198,782	51,525,734	8/31/2023	T-12	69,984,212	17,233,956	52,750,256	12/31/2022
3.00	Loan	5, 9, 11, 12, 13	1	Fashion Valley Mall	L(30),D(84),O(6)	100,144,513	19,298,501	80,846,012	12/31/2022	T-12	97,018,960	17,953,015	79,065,945	12/31/2021
4.00	Loan	5, 14, 15, 16	1	Philadelphia Marriott Downtown	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
5.00	Loan	5, 17, 18, 19	1	CX - 250 Water Street	L(24),YM1(10),DorYM1(79),O(7)	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP	NAP
6.00	Loan	5, 10, 20, 21, 22, 23, 24, 25	3	BLE Portfolio	L(26),D(90),O(4)	8,331,467	5,345,955	2,985,513	7/31/2023	T-12	8,327,246	5,079,839	3,247,406	12/31/2022
6.01	Property		1	Lakeside Forest		2,922,184	1,747,014	1,175,170	7/31/2023	T-12	2,957,721	1,731,241	1,226,481	12/31/2022
6.02	Property		1	The Establishment		3,882,912	2,481,779	1,401,134	7/31/2023	T-12	3,876,144	2,332,188	1,543,956	12/31/2022
6.03	Property		1	Barcelona		1,526,371	1,117,162	409,209	7/31/2023	T-12	1,493,380	1,016,411	476,969	12/31/2022
7.00	Loan	5, 24, 25, 26, 27, 28	1	La Primavera	L(25),D(91),O(4)	3,987,915	2,160,629	1,827,286	8/31/2023	T-12	3,760,079	2,059,895	1,700,184	12/31/2022
8.00	Loan	9	1	Cross County Plaza	L(25),D(91),O(4)	5,316,151	1,539,117	3,777,034	7/31/2023	T-12	5,180,224	1,475,903	3,704,320	12/31/2022
9.00	Loan	5, 10, 21, 29, 30, 31	29	RTL Retail Portfolio	L(12),YM1(15),DorYM1(86),O(7)	49,194,589	15,499,390	33,695,199	6/30/2023	T-12	41,116,072	14,064,144	27,051,928	12/31/2022
9.01	Property		1	Northwoods Marketplace		4,192,094	1,380,406	2,811,688	6/30/2023	T-12	4,097,059	1,292,213	2,804,846	12/31/2022
9.02	Property		1	The Centrum		3,248,221	1,076,733	2,171,488	6/30/2023	T-12	2,622,843	1,031,511	1,591,333	12/31/2022
9.03	Property		1	Lawton Marketplace Lawton		2,515,072	800,467	1,714,605	6/30/2023	T-12	2,144,275	679,993	1,464,282	12/31/2022
9.04	Property		1	Carlisle Crossing		2,505,419	939,288	1,566,131	6/30/2023	T-12	2,155,562	835,548	1,320,014	12/31/2022
9.05	Property		1	Southway Shopping Center		3,547,707	1,317,725	2,229,982	6/30/2023	T-12	3,293,702	1,585,182	1,708,520	12/31/2022
9.06	Property		1	Parkway Centre South Shopping		2,806,871	856,532	1,950,339	6/30/2023	T-12	1,792,299	548,724	1,243,575	12/31/2022
9.07	Property		1	Houma Crossing - Houma		2,018,284	686,750	1,331,534	6/30/2023	T-12	1,800,069	735,874	1,064,195	12/31/2022
9.08	Property		1	North Lake Square		2,260,370	559,947	1,700,423	6/30/2023	T-12	1,899,050	466,423	1,432,627	12/31/2022
9.09	Property		1	Liberty Crossing - Rowlett		2,227,472	624,483	1,602,989	6/30/2023	T-12	2,246,251	844,019	1,402,233	12/31/2022
9.10	Property		1	Owensboro Towne Center		2,549,115	675,191	1,873,924	6/30/2023	T-12	2,242,819	626,525	1,616,294	12/31/2022
9.11	Property		1	Harbor Town Center		1,800,133	587,126	1,213,007	6/30/2023	T-12	1,196,416	378,917	817,500	12/31/2022
9.12	Property		1	Lord Salisbury Center		1,910,916	561,662	1,349,254	6/30/2023	T-12	1,617,981	592,226	1,025,756	12/31/2022
9.13	Property		1	Terrell Mill Village		1,586,810	384,727	1,202,083	6/30/2023	T-12	1,059,965	279,940	780,026	12/31/2022
9.14	Property		1	The Ridge at Turtle Creek		1,493,633	398,146	1,095,487	6/30/2023	T-12	997,546	276,209	721,336	12/31/2022
9.15	Property		1	Nordstrom Rack		1,239,916	304,014	935,902	6/30/2023	T-12	1,111,540	282,289	829,251	12/31/2022
9.16	Property		1	Ventura Place		1,227,663	262,855	964,808	3/31/2023	T-12	768,203	286,698	481,505	12/31/2022
9.17	Property		1	Village at Quail Springs Oklahoma City		1,193,826	328,520	865,306	6/30/2023	T-12	1,206,432	312,239	894,193	12/31/2022
9.18	Property		1	Wallace Commons I		1,269,173	302,274	966,899	6/30/2023	T-12	905,993	237,028	668,965	12/31/2022
9.19	Property		1	Waterford Park South		1,419,487	584,135	835,352	6/30/2023	T-12	939,677	405,571	534,105	12/31/2022
9.20	Property		1	Evergreen Marketplace		1,540,751	820,691	720,060	6/30/2023	T-12	1,284,015	639,494	644,521	12/31/2022
9.21	Property		1	Derby Marketplace		1,290,004	535,476	754,528	6/30/2023	T-12	1,110,429	456,063	654,366	12/31/2022
9.22	Property		1	Stoneridge Village		1,112,104	287,107	824,997	6/30/2023	T-12	809,934	203,598	606,335	12/31/2022
9.23	Property		1	Fresh Thyme and DSW		820,259	209,104	611,155	6/30/2023	T-12	727,046	192,105	534,941	12/31/2022
9.24	Property		1	Crossroads Annex - Lafayette		527,939	229,193	298,746	6/30/2023	T-12	645,992	179,545	466,447	12/31/2022
9.25	Property		1	Tellico Village		593,751	137,575	456,176	6/30/2023	T-12	532,907	122,661	410,246	12/31/2022
9.26	Property		1	Walmart Neighborhood Market		684,680	226,771	457,909	6/30/2023	T-12	444,306	135,435	308,872	12/31/2022
9.27	Property		1	PetSmart & Old Navy		670,889	216,831	454,058	6/30/2023	T-12	580,443	188,775	391,668	12/31/2022

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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
11.07	Property		1	1194 Oak Valley Drive		842,095	247,034	595,061	9/30/2023	T-12	790,555	253,606	536,949	12/31/2022
11.08	Property		1	3940-3948 Ranchero Drive		590,810	211,483	379,328	9/30/2023	T-12	592,668	226,666	366,002	12/31/2022
11.09	Property		1	950 Victors Way		356,602	218,847	137,755	9/30/2023	T-12	364,288	211,086	153,202	12/31/2022
11.10	Property		1	825 Victors Way		539,975	299,836	240,139	9/30/2023	T-12	524,385	276,310	248,076	12/31/2022
12.00	Loan	5, 9, 35	1	Centre Pointe Portfolio	L(29),D(87),O(4)	10,692,107	5,610,235	5,081,872	3/31/2023	T-12	9,979,761	5,403,143	4,576,618	12/31/2022
13.00	Loan	36, 37	1	Gwinnett Marketfair	L(27),D(88),O(5)	3,531,010	833,853	2,697,157	6/30/2023	T-12	3,466,854	781,464	2,685,390	12/31/2022
14.00	Loan	21, 38, 39	7	Princeton ND Portfolio	L(24),D(92),O(4)	5,917,836	3,110,990	2,806,846	9/30/2023	T-12	4,968,594	2,780,412	2,188,182	12/31/2022
14.01	Property		1	Timber Cove		1,383,713	727,489	656,224	9/30/2023	T-12	1,094,113	569,265	524,848	12/31/2022
14.02	Property		1	Custer Crossing and Raven Wood		1,283,549	723,702	559,847	9/30/2023	T-12	1,163,995	619,550	544,445	12/31/2022
14.03	Property		1	Raven Ridge		1,296,832	712,007	584,825	9/30/2023	T-12	1,074,519	543,290	531,229	12/31/2022
14.04	Property		1	Fox Run		931,615	444,926	486,689	9/30/2023	T-12	787,738	486,795	300,943	12/31/2022
14.05	Property		1	Killdeer Highlands		454,544	187,072	267,472	9/30/2023	T-12	375,265	194,444	180,821	12/31/2022
14.06	Property		1	Bakken Ridge		371,029	233,092	137,937	9/30/2023	T-12	280,267	290,996	(10,729)	12/31/2022
14.07	Property		1	Creekside Cottages		196,554	82,702	113,852	9/30/2023	T-12	192,697	76,072	116,625	12/31/2022
15.00	Loan	40	1	Rockwall Market Center	L(27),D(89),O(4)	3,877,326	1,100,357	2,776,969	6/30/2023	T-12	3,773,589	1,079,835	2,693,755	12/31/2022
16.00	Loan	41	1	Mountain Lakes Estates	L(30),D(86),O(4)	4,900,364	2,899,779	2,000,585	5/31/2023	T-12	4,188,436	2,683,655	1,504,780	12/31/2022
17.00	Loan	21	3	Lucas Industrial Portfolio	L(24),YM1(92),O(4)	2,702,564	1,162,563	1,540,001	6/30/2023	T-12	2,547,588	1,149,084	1,398,503	12/31/2022
17.01	Property		1	Union Business Park		1,009,534	395,646	613,888	6/30/2023	T-12	951,620	389,655	561,964	12/31/2022
17.02	Property		1	Stanford Industrial Park		921,840	422,147	499,693	6/30/2023	T-12	883,766	408,537	475,229	12/31/2022
17.03	Property		1	Auto Works Industrial Park		771,189	344,770	426,419	6/30/2023	T-12	712,202	350,893	361,309	12/31/2022
18.00	Loan	42	1	Bangor Parkade	L(24),D(89),O(7)	3,554,249	1,811,382	1,742,867	8/31/2023	T-12	3,562,373	1,743,888	1,818,486	12/31/2022
19.00	Loan	43, 44	1	DoubleTree Hotel Largo	L(25),D(91),O(4)	6,916,912	4,645,692	2,271,220	9/30/2023	T-12	5,933,064	4,057,427	1,875,637	12/31/2022
20.00	Loan	45, 46, 47	1	Tri Palms Estates & Country Club	L(26),YM1(87),O(7)	6,272,295	3,995,519	2,276,776	6/30/2023	T-12	6,234,853	3,893,578	2,341,275	12/31/2022
21.00	Loan		1	Shoppes at Waterford	L(25),D(91),O(4)	1,644,259	292,678	1,351,581	8/31/2023	T-12	1,764,194	280,330	1,483,864	12/31/2022
22.00	Loan		1	419 West River Road	L(25),D(91),O(4)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
23.00	Loan		1	Baytowne Shoppes and Square	L(27),D(86),O(7)	2,235,935	640,895	1,595,040	44,926	T-12	2,169,073	599,889	1,569,184	44,561
24.00	Loan		1	1777 Vine Street	L(31),D(85),O(4)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
25.00	Loan		1	Monkey Junction	L(25),D(91),O(4)	1,414,272	246,132	1,168,140	8/31/2023	T-12	1,474,669	242,935	1,231,733	12/31/2022
26.00	Loan	48, 49	1	The West Wing	L(24),D(92),O(4)	2,694,810	640,354	2,054,455	10/31/2023	T-12	2,182,002	527,096	1,654,906	12/31/2022
27.00	Loan		1	Tammany on the Ponds	L(29),D(87),O(4)	2,134,554	921,060	1,213,494	8/31/2023	T-12	2,291,709	1,063,918	1,227,791	12/31/2022
28.00	Loan	50, 51	1	Residence Inn Charleston Summerville	L(24),YM1(89),O(7)	4,350,229	2,746,645	1,603,584	7/31/2023	T-12	4,219,487	2,511,741	1,707,747	12/31/2022
29.00	Loan	52, 53	1	Courtyard Charleston Summerville	L(24),YM1(89),O(7)	4,336,815	2,841,079	1,495,736	7/31/2023	T-12	4,282,674	2,613,848	1,668,826	12/31/2022
30.00	Loan		1	McDonough Marketplace	L(26),D(89),O(5)	1,339,354	280,335	1,059,019	6/30/2023	T-12	1,326,441	268,663	1,057,778	12/31/2022
31.00	Loan		1	Triangle Center	L(27),D(89),O(4)	1,204,159	400,908	803,250	6/30/2023	T-12	973,106	368,568	604,539	12/31/2022
32.00	Loan		1	Dixon Street	L(25),D(91),O(4)	3,359,200	1,350,207	2,008,993	10/31/2023	T-12	3,291,822	1,252,439	2,039,382	12/31/2022
33.00	Loan	54	1	Highlands Plaza	L(29),DorYM2(87),O(4)	1,226,103	489,770	736,333	4/30/2023	T-12	1,110,508	461,171	649,337	12/31/2022
34.00	Loan		1	Nogales Plaza	L(26),D(90),O(4)	1,890,163	538,916	1,351,247	6/30/2023	T-12	1,857,034	593,016	1,264,018	12/31/2022
35.00	Loan		1	Natchez Promenade	L(24),D(92),O(4)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
36.00	Loan		1	Sullivan Parke IV	L(23),YM1(2),DorYM1(88),O(7)	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Second Most Recent Description	Third Most Recent EGI ($)	Third Most Recent Expenses ($)	Third Most Recent NOI ($)	Third Most Recent NOI Date	Third Most Recent Description	Underwritten Economic Occupancy (%)	Underwritten EGI ($)	Underwritten Expenses ($)	Underwritten Net Operating Income ($)
1.00	Loan	5	1	60 Hudson	T-12	118,744,930	41,284,530	77,460,400	12/31/2021	T-12	65.2%	120,518,204	52,684,531	67,833,673
2.00	Loan	5, 6, 7, 8, 9, 10	1	Arundel Mills and Marketplace	T-12	69,401,934	17,383,847	52,018,087	12/31/2021	T-12	98.1%	74,354,670	16,415,944	57,938,726
3.00	Loan	5, 9, 11, 12, 13	1	Fashion Valley Mall	T-12	89,629,550	16,856,897	72,772,653	12/31/2020	T-12	89.9%	103,974,716	19,972,427	84,002,289
4.00	Loan	5, 14, 15, 16	1	Philadelphia Marriott Downtown	T-12	26,916,192	29,338,995	(2,422,803)	12/31/2021	T-12	60.2%	111,076,788	76,576,225	34,500,562
5.00	Loan	5, 17, 18, 19	1	CX - 250 Water Street	NAP	NAP	NAP	NAP	NAP	NAP	99.0%	62,561,733	13,277,931	49,283,802
6.00	Loan	5, 10, 20, 21, 22, 23, 24, 25	3	BLE Portfolio	T-12	7,727,223	4,426,467	3,300,757	12/31/2021	T-12	85.2%	8,610,338	3,507,740	5,102,598
6.01	Property		1	Lakeside Forest	T-12	2,786,213	1,421,253	1,364,960	12/31/2021	T-12	81.5%	3,082,504	1,199,423	1,883,081
6.02	Property		1	The Establishment	T-12	3,610,455	2,021,721	1,588,733	12/31/2021	T-12	86.5%	3,947,105	1,490,494	2,456,611
6.03	Property		1	Barcelona	T-12	1,330,556	983,492	347,063	12/31/2021	T-12	90.2%	1,580,729	817,824	762,905
7.00	Loan	5, 24, 25, 26, 27, 28	1	La Primavera	T-12	3,439,007	1,766,582	1,672,424	12/31/2021	T-12	90.6%	3,994,259	1,474,851	2,519,408
8.00	Loan	9	1	Cross County Plaza	T-12	4,798,688	1,331,470	3,467,218	12/31/2021	T-12	95.0%	6,162,059	1,952,443	4,209,616
9.00	Loan	5, 10, 21, 29, 30, 31	29	RTL Retail Portfolio	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	53,888,610	17,916,793	35,971,817
9.01	Property		1	Northwoods Marketplace	T-12	NAV	NAV	NAV	NAV	NAV	96.5%	4,330,372	1,458,301	2,872,071
9.02	Property		1	The Centrum	T-12	NAV	NAV	NAV	NAV	NAV	75.8%	3,182,719	1,167,626	2,015,093
9.03	Property		1	Lawton Marketplace Lawton	T-12	NAV	NAV	NAV	NAV	NAV	98.3%	3,279,829	953,800	2,326,030
9.04	Property		1	Carlisle Crossing	T-12	NAV	NAV	NAV	NAV	NAV	94.9%	3,194,157	1,048,116	2,146,041
9.05	Property		1	Southway Shopping Center	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	3,826,353	1,358,719	2,467,634
9.06	Property		1	Parkway Centre South Shopping	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	2,969,784	846,025	2,123,758
9.07	Property		1	Houma Crossing - Houma	T-12	NAV	NAV	NAV	NAV	NAV	76.1%	2,599,247	1,077,547	1,521,699
9.08	Property		1	North Lake Square	T-12	NAV	NAV	NAV	NAV	NAV	97.7%	2,276,936	561,041	1,715,895
9.09	Property		1	Liberty Crossing - Rowlett	T-12	NAV	NAV	NAV	NAV	NAV	91.5%	2,282,096	704,857	1,577,238
9.10	Property		1	Owensboro Towne Center	T-12	NAV	NAV	NAV	NAV	NAV	87.4%	2,579,470	845,371	1,734,099
9.11	Property		1	Harbor Town Center	T-12	NAV	NAV	NAV	NAV	NAV	90.8%	1,688,547	593,756	1,094,791
9.12	Property		1	Lord Salisbury Center	T-12	NAV	NAV	NAV	NAV	NAV	98.0%	2,226,543	767,839	1,458,704
9.13	Property		1	Terrell Mill Village	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	1,869,023	556,622	1,312,401
9.14	Property		1	The Ridge at Turtle Creek	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	1,734,560	536,550	1,198,010
9.15	Property		1	Nordstrom Rack	T-12	NAV	NAV	NAV	NAV	NAV	98.6%	1,311,742	404,466	907,276
9.16	Property		1	Ventura Place	T-12	NAV	NAV	NAV	NAV	NAV	94.7%	1,446,565	413,856	1,032,709
9.17	Property		1	Village at Quail Springs Oklahoma City	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	1,290,310	416,400	873,909
9.18	Property		1	Wallace Commons I	T-12	NAV	NAV	NAV	NAV	NAV	96.9%	1,232,068	337,160	894,908
9.19	Property		1	Waterford Park South	T-12	NAV	NAV	NAV	NAV	NAV	91.4%	1,559,545	545,452	1,014,092
9.20	Property		1	Evergreen Marketplace	T-12	NAV	NAV	NAV	NAV	NAV	99.9%	1,541,714	769,153	772,561
9.21	Property		1	Derby Marketplace	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	1,271,174	509,265	761,910
9.22	Property		1	Stoneridge Village	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	1,467,788	430,585	1,037,204
9.23	Property		1	Fresh Thyme and DSW	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	832,259	255,476	576,783
9.24	Property		1	Crossroads Annex - Lafayette	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	879,244	339,124	540,120
9.25	Property		1	Tellico Village	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	615,342	138,650	476,692
9.26	Property		1	Walmart Neighborhood Market	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	747,174	287,221	459,953
9.27	Property		1	PetSmart & Old Navy	T-12	NAV	NAV	NAV	NAV	NAV	99.8%	640,400	228,872	411,528

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Second Most Recent Description	Third Most Recent EGI ($)	Third Most Recent Expenses ($)	Third Most Recent NOI ($)	Third Most Recent NOI Date	Third Most Recent Description	Underwritten Economic Occupancy (%)	Underwritten EGI ($)	Underwritten Expenses ($)	Underwritten Net Operating Income ($)
11.07	Property		1	1194 Oak Valley Drive	T-12	649,169	227,873	421,297	12/31/2021	T-12	100.0%	868,790	243,756	625,034
11.08	Property		1	3940-3948 Ranchero Drive	T-12	306,217	223,682	82,536	12/31/2021	T-12	46.1%	306,789	199,304	107,486
11.09	Property		1	950 Victors Way	T-12	421,927	201,761	220,167	12/31/2021	T-12	69.5%	353,319	216,915	136,404
11.10	Property		1	825 Victors Way	T-12	567,601	274,811	292,791	12/31/2021	T-12	82.3%	595,959	300,283	295,676
12.00	Loan	5, 9, 35	1	Centre Pointe Portfolio	T-12	10,680,528	4,961,731	5,718,797	12/31/2021	T-12	82.7%	12,419,185	5,610,831	6,808,354
13.00	Loan	36, 37	1	Gwinnett Marketfair	T-12	3,322,299	822,239	2,500,060	12/31/2021	T-12	95.0%	3,404,903	761,253	2,643,650
14.00	Loan	21, 38, 39	7	Princeton ND Portfolio	T-12	NAV	NAV	NAV	NAV	NAV	93.8%	6,508,494	3,388,274	3,120,220
14.01	Property		1	Timber Cove	T-12	NAV	NAV	NAV	NAV	NAV	94.1%	1,605,142	812,295	792,847
14.02	Property		1	Custer Crossing and Raven Wood	T-12	1,123,284	550,289	572,995	12/31/2021	T-12	94.4%	1,372,421	726,590	645,831
14.03	Property		1	Raven Ridge	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	1,428,878	824,421	604,457
14.04	Property		1	Fox Run	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	940,014	474,385	465,629
14.05	Property		1	Killdeer Highlands	T-12	NAV	NAV	NAV	NAV	NAV	95.0%	493,292	209,300	283,992
14.06	Property		1	Bakken Ridge	T-12	218,406	280,518	(62,112)	12/31/2021	T-12	91.4%	463,209	250,182	213,027
14.07	Property		1	Creekside Cottages	T-12	NAV	NAV	NAV	NAV	NAV	78.4%	205,538	91,101	114,437
15.00	Loan	40	1	Rockwall Market Center	T-12	3,717,494	1,061,346	2,656,149	12/31/2021	T-12	95.0%	3,826,805	1,127,528	2,699,277
16.00	Loan	41	1	Mountain Lakes Estates	T-12	1,840,104	1,795,796	44,308	12/31/2021	T-12	95.0%	5,302,048	2,823,487	2,478,561
17.00	Loan	21	3	Lucas Industrial Portfolio	T-12	2,288,849	994,353	1,294,496	12/31/2021	T-12	94.7%	3,186,102	1,238,379	1,947,723
17.01	Property		1	Union Business Park	T-12	842,038	379,033	463,006	12/31/2021	T-12	95.0%	1,144,090	426,140	717,949
17.02	Property		1	Stanford Industrial Park	T-12	778,993	308,347	470,646	12/31/2021	T-12	95.0%	1,099,582	448,030	651,552
17.03	Property		1	Auto Works Industrial Park	T-12	667,818	306,973	360,845	12/31/2021	T-12	95.0%	942,431	364,208	578,222
18.00	Loan	42	1	Bangor Parkade	T-12	3,494,925	1,710,299	1,784,626	12/31/2021	T-12	95.0%	3,773,902	1,677,536	2,096,366
19.00	Loan	43, 44	1	DoubleTree Hotel Largo	T-12	3,792,059	2,885,958	906,101	12/31/2021	T-12	61.1%	6,916,912	4,683,600	2,233,312
20.00	Loan	45, 46, 47	1	Tri Palms Estates & Country Club	T-12	5,674,488	3,710,890	1,963,597	12/31/2021	T-12	95.0%	6,403,453	4,089,255	2,314,198
21.00	Loan		1	Shoppes at Waterford	T-12	1,771,190	281,021	1,490,169	12/31/2021	T-12	95.0%	1,697,542	296,787	1,400,755
22.00	Loan		1	419 West River Road	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	1,725,003	236,303	1,488,701
23.00	Loan		1	Baytowne Shoppes and Square	T-12	2,010,470	554,455	1,456,015	44,196	T-12	93.2%	2,199,146	715,734	1,483,412
24.00	Loan		1	1777 Vine Street	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	2,406,894	786,845	1,620,049
25.00	Loan		1	Monkey Junction	T-12	1,417,716	238,035	1,179,682	12/31/2021	T-12	95.0%	1,439,898	234,111	1,205,787
26.00	Loan	48, 49	1	The West Wing	T-12	NAV	NAV	NAV	NAV	NAV	94.9%	2,753,727	995,542	1,758,185
27.00	Loan		1	Tammany on the Ponds	T-12	2,171,942	1,108,765	1,063,177	12/31/2021	T-12	90.9%	2,466,497	1,135,666	1,330,831
28.00	Loan	50, 51	1	Residence Inn Charleston Summerville	T-12	3,653,002	2,416,198	1,236,804	12/31/2021	T-12	85.7%	4,350,229	2,739,306	1,610,924
29.00	Loan	52, 53	1	Courtyard Charleston Summerville	T-12	3,504,663	2,315,220	1,189,443	12/31/2021	T-12	76.2%	4,336,815	2,822,112	1,514,703
30.00	Loan		1	McDonough Marketplace	T-12	1,289,678	226,417	1,063,261	12/31/2021	T-12	95.0%	1,317,663	303,809	1,013,854
31.00	Loan		1	Triangle Center	T-12	662,368	392,042	270,326	12/31/2021	T-12	95.0%	1,613,791	369,898	1,243,893
32.00	Loan		1	Dixon Street	T-12	3,011,007	1,110,394	1,900,614	12/31/2021	T-12	90.6%	3,565,597	1,308,597	2,257,000
33.00	Loan	54	1	Highlands Plaza	T-12	984,524	440,442	544,082	12/31/2021	T-12	90.0%	1,395,118	463,254	931,864
34.00	Loan		1	Nogales Plaza	T-12	1,809,867	538,545	1,271,322	12/31/2021	T-12	81.8%	1,857,917	491,183	1,366,735
35.00	Loan		1	Natchez Promenade	NAV	NAV	NAV	NAV	NAV	NAV	94.8%	1,069,942	301,103	768,839
36.00	Loan		1	Sullivan Parke IV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%	765,734	194,739	570,995