WFCM 2025-5C5 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. 333-282099) 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herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any such information subsequently delivered and ultimately by the final prospectus relating to the securities.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, BMO Capital Markets Corp., Citigroup Global Markets Inc., UBS Securities LLC, Academy Securities, Inc., Drexel Hamilton, LLC, Natixis Securities Americas 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.

BMO Capital Markets is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, BMO Harris Bank N.A. (member FDIC), Bank of Montreal Europe p.l.c, and Bank of Montreal (China) Co. Ltd, the institutional broker dealer business of BMO Capital Markets Corp. (Member FINRA and SIPC) and the agency broker dealer business of Clearpool Execution Services, LLC (Member FINRA and SIPC) in the U.S., and the institutional broker dealer businesses of BMO Nesbitt Burns Inc. (Member Investment Industry Regulatory Organization of Canada and Member Canadian Investor Protection Fund) in Canada and Asia, Bank of Montreal Europe p.l.c. (authorized and regulated by the Central Bank of Ireland) in Europe and BMO Capital Markets Limited (authorized and regulated by the Financial Conduct Authority) in the UK and Australia.

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	% of Initial Pool Balance	% of Loan Balance	Mortgage Loan Originator	Mortgage Loan Seller	Related Group	Crossed Group	Address
1.00	Loan		1	Century Business Center	9.98%	100.0%	UBS AG	UBS AG	NAP	NAP	3901 Jack Northrop Avenue
2.00	Loan		1	Gateway Industrial Center	9.98%	100.0%	CREFI/AREF2	CREFI/AREF2	NAP	NAP	12601 and 12701 Southfield Freeway
3.00	Loan		1	322 Grand Concourse	8.8%	100.0%	GCMC	GCMC/BMO	NAP	NAP	322 Grand Concourse
4.00	Loan		15	The Wharf	8.4%		WFB	WFB	NAP	NAP	Various
4.01	Property		1	670-680 Maine	1.9%	23.2%					670-680 Maine Avenue Southwest
4.02	Property		1	1000 Maine	1.0%	11.5%					1000 Maine Avenue Southwest
4.03	Property		1	Phase I Retail	0.9%	10.2%					1100-1150 Maine Avenue Southwest, 1000 Maine Avenue Southwest, 5 Market Square Southwest, 980 and 996 Maine Avenue Southwest, 800 Maine Avenue Southwest, 801 Wharf Street Southwest, 770 Maine Avenue Southwest and 975 7th Street Southwest
4.04	Property		1	The Channel	0.7%	8.9%					950 Maine Avenue Southwest
4.05	Property		1	Garage (Ph I)	0.6%	7.1%					800 Maine Avenue Southwest
4.06	Property		1	Hyatt House	0.5%	5.9%					725 Wharf Street Southwest
4.07	Property		1	Phase II Retail	0.4%	5.2%					668 & 678 Water Street Southwest, 670 & 680 Maine Avenue Southwest, 652 Maine Avenue Southwest, 35 Parker Row Southwest, 620 Maine Avenue Southwest, 601 & 690 Wharf Street Southwest, 670 Wharf Street Southwest and 652 & 655 Wharf Street Southwest
4.08	Property		1	Garage (Ph II)	0.4%	4.7%					21 Parker Row Southwest
4.09	Property		1	Canopy	0.4%	4.5%					975 7th Street Southwest
4.10	Property		1	The Tides	0.4%	4.5%					35 Parker Row Southwest
4.11	Property		1	800 Maine	0.4%	4.5%					800 Maine Avenue Southwest
4.12	Property		1	The Anthem	0.3%	3.9%					901 Wharf Street Southwest
4.13	Property		1	Incanto	0.2%	2.3%					770 Maine Avenue Southwest
4.14	Property		1	580 Water (Pier 4)	0.2%	2.0%					580 Water Street Southwest
4.15	Property		1	Marina	0.1%	1.5%					658 Wharf Street Southwest
5.00	Loan		1	200 Wood Avenue South	7.0%	100.0%	WFB	WFB	NAP	NAP	200 Wood Avenue South
6.00	Loan		1	The Park Calabasas	6.4%	100.0%	CREFI	CREFI	NAP	NAP	4500 Park Granada
7.00	Loan		1	The Roosevelt New Orleans	5.0%	100.0%	WFB	WFB	NAP	NAP	130 Roosevelt Way
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	4.6%	100.0%	WFB	WFB	NAP	NAP	4151 Centreport Drive
9.00	Loan		1	The Dior	3.5%	100.0%	AREF2	AREF2	NAP	NAP	920 Providence Highway
10.00	Loan		1	111 on East Apartments	3.4%	100.0%	AREF2	AREF2	NAP	NAP	111 East Avenue
11.00	Loan		1	O'Hare 8 Portfolio	3.2%	100.0%	CREFI	CREFI	NAP	NAP	2301-2331 Eastern Avenue, 2375-2401 Delta Lane, 2271-2289 Devon Avenue, 2501-2541 Devon Avenue, 2351-2367 Devon Avenue, 2300-2330 Eastern Avenue, 2425-2435 Devon Avenue, and 2475-2485 Devon Avenue
12.00	Loan		1	One Glen Lakes	2.9%	100.0%	AREF2	AREF2	NAP	NAP	8140 Walnut Hill Lane
13.00	Loan		1	Parkwyn Townhomes	2.5%	100.0%	AREF2	AREF2	NAP	NAP	4401 Glenview Court
14.00	Loan		1	347-363 Flushing Avenue	2.5%	100.0%	BMO	BMO	NAP	NAP	347-363 Flushing Avenue
15.00	Loan		1	145 West 30th Street	2.5%	100.0%	CREFI	CREFI	NAP	NAP	145 West 30th Street
16.00	Loan		1	Cedar Village at Minerva Square	2.5%	100.0%	Natixis	Natixis	NAP	NAP	67-71 Minerva Street & 147 Caroline Street
17.00	Loan		1	3030 Brighton 12th Street	2.0%	100.0%	ZBNA	ZBNA	NAP	NAP	3030 Brighton 12th Street
18.00	Loan		1	149-153 Wooster Street	1.7%	100.0%	CREFI	CREFI	NAP	NAP	149-153 Wooster Street
19.00	Loan		1	North Park Shopping Center	1.6%	100.0%	AREF2	AREF2	NAP	NAP	1700 Park Avenue
20.00	Loan		1	Home2 Suites Pearland	1.1%	100.0%	BSPRT	BSPRT	NAP	NAP	13923 South Freeway
21.00	Loan		1	1339 Morris Avenue	1.1%	100.0%	AREF2	AREF2	Group 1	NAP	1339 Morris Avenue
22.00	Loan		1	Dodge Industrial	1.0%	100.0%	AREF2	AREF2	NAP	NAP	55-57 Dodge Avenue
23.00	Loan		1	2783 Webb Avenue	1.0%	100.0%	AREF2	AREF2	Group 1	NAP	2783 Webb Avenue
24.00	Loan		1	Hampton Inn Marysville	0.9%	100.0%	BSPRT	BSPRT	NAP	NAP	16610 Square Drive
25.00	Loan		1	Hotel Shocard	0.9%	100.0%	BSPRT	BSPRT	NAP	NAP	206 West 41st Street
26.00	Loan		1	1499 Bedford Avenue	0.8%	100.0%	BMO	BMO	NAP	NAP	1499 Bedford Avenue
27.00	Loan		1	1535 Broadway	0.8%	100.0%	BMO	BMO	NAP	NAP	1535 Broadway
28.00	Loan		1	Shaw Park Plaza	0.8%	100.0%	BMO	BMO	NAP	NAP	1 North Brentwood Boulevard
29.00	Loan		1	50 Clifford Place	0.8%	100.0%	AREF2	AREF2	Group 1	NAP	50 Clifford Place
30.00	Loan		1	377 Ocean Parkway	0.8%	100.0%	ZBNA	ZBNA	Group 2	NAP	377 Ocean Parkway
31.00	Loan		1	8201 Bay Parkway	0.7%	100.0%	ZBNA	ZBNA	Group 2	NAP	8201 Bay Parkway
32.00	Loan		1	All Purpose Storage - Syracuse	0.6%	100.0%	UBS AG	UBS AG	NAP	NAP	6810 Kinne Street

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Loan Per Unit ($)	Original Balance ($)	Cut-off Date Balance ($)	Maturity/ARD Balance ($)	Interest Rate %	Administrative Fee Rate %	Net Mortgage Rate %	Monthly Debt Service (P&I) ($)
1.00	Loan		1	Century Business Center	45.07	59,500,000	59,500,000	59,500,000	6.63500%	0.02382%	6.61118%	NAP
2.00	Loan		1	Gateway Industrial Center	64.50	59,500,000	59,500,000	59,500,000	6.74000%	0.02382%	6.71618%	NAP
3.00	Loan		1	322 Grand Concourse	463,576.16	52,500,000	52,500,000	52,500,000	6.30000%	0.02382%	6.27618%	NAP
4.00	Loan		15	The Wharf	320.55	50,000,000	50,000,000	50,000,000	5.43886%	0.02142%	5.41744%	NAP
4.01	Property		1	670-680 Maine		11,604,390	11,604,390	11,604,390
4.02	Property		1	1000 Maine		5,772,927	5,772,927	5,772,927
4.03	Property		1	Phase I Retail		5,115,171	5,115,171	5,115,171
4.04	Property		1	The Channel		4,436,585	4,436,585	4,436,585
4.05	Property		1	Garage (Ph I)		3,564,585	3,564,585	3,564,585
4.06	Property		1	Hyatt House		2,961,366	2,961,366	2,961,366
4.07	Property		1	Phase II Retail		2,622,683	2,622,683	2,622,683
4.08	Property		1	Garage (Ph II)		2,356,049	2,356,049	2,356,049
4.09	Property		1	Canopy		2,253,220	2,253,220	2,253,220
4.10	Property		1	The Tides		2,232,244	2,232,244	2,232,244
4.11	Property		1	800 Maine		2,225,073	2,225,073	2,225,073
4.12	Property		1	The Anthem		1,970,683	1,970,683	1,970,683
4.13	Property		1	Incanto		1,150,927	1,150,927	1,150,927
4.14	Property		1	580 Water (Pier 4)		999,317	999,317	999,317
4.15	Property		1	Marina		734,780	734,780	734,780
5.00	Loan		1	200 Wood Avenue South	155.85	42,000,000	41,966,659	39,896,413	7.16200%	0.02382%	7.13818%	284,011.43
6.00	Loan		1	The Park Calabasas	171.11	38,100,000	38,100,000	38,100,000	7.12000%	0.02382%	7.09618%	NAP
7.00	Loan		1	The Roosevelt New Orleans	257,936.51	29,700,000	29,700,000	29,700,000	6.87000%	0.02382%	6.84618%	NAP
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	90,980.25	27,500,000	27,476,034	25,979,505	6.68800%	0.02382%	6.66418%	177,232.60
9.00	Loan		1	The Dior	437,500.00	21,000,000	21,000,000	21,000,000	6.35000%	0.02382%	6.32618%	NAP
10.00	Loan		1	111 on East Apartments	81,983.81	20,250,000	20,250,000	20,250,000	7.36500%	0.02382%	7.34118%	NAP
11.00	Loan		1	O'Hare 8 Portfolio	91.00	19,295,000	19,295,000	19,295,000	6.82000%	0.02382%	6.79618%	NAP
12.00	Loan		1	One Glen Lakes	102.26	17,400,000	17,400,000	17,400,000	7.54400%	0.02382%	7.52018%	NAP
13.00	Loan		1	Parkwyn Townhomes	96,473.03	15,112,500	15,112,500	15,112,500	7.23000%	0.02382%	7.20618%	NAP
14.00	Loan		1	347-363 Flushing Avenue	505.93	15,000,000	15,000,000	15,000,000	7.12000%	0.02382%	7.09618%	NAP
15.00	Loan		1	145 West 30th Street	151.39	15,000,000	15,000,000	15,000,000	6.66000%	0.02382%	6.63618%	NAP
16.00	Loan		1	Cedar Village at Minerva Square	166,666.67	15,000,000	15,000,000	15,000,000	6.40000%	0.02382%	6.37618%	NAP
17.00	Loan		1	3030 Brighton 12th Street	125,520.83	12,050,000	12,050,000	12,050,000	6.38000%	0.02382%	6.35618%	NAP
18.00	Loan		1	149-153 Wooster Street	1,160.50	10,000,000	10,000,000	10,000,000	6.98000%	0.02382%	6.95618%	NAP
19.00	Loan		1	North Park Shopping Center	182.36	9,800,000	9,800,000	9,800,000	7.47000%	0.02382%	7.44618%	NAP
20.00	Loan		1	Home2 Suites Pearland	80,305.80	6,750,000	6,745,687	6,484,607	8.24000%	0.02382%	8.21618%	50,663.05
21.00	Loan		1	1339 Morris Avenue	260,000.00	6,500,000	6,500,000	6,500,000	7.25000%	0.02382%	7.22618%	NAP
22.00	Loan		1	Dodge Industrial	71.85	5,800,000	5,800,000	5,800,000	7.51700%	0.02382%	7.49318%	NAP
23.00	Loan		1	2783 Webb Avenue	302,631.58	5,750,000	5,750,000	5,750,000	7.25000%	0.02382%	7.22618%	NAP
24.00	Loan		1	Hampton Inn Marysville	63,855.42	5,300,000	5,300,000	5,300,000	8.00000%	0.02382%	7.97618%	NAP
25.00	Loan		1	Hotel Shocard	108,510.64	5,100,000	5,100,000	5,100,000	7.75000%	0.02382%	7.72618%	NAP
26.00	Loan		1	1499 Bedford Avenue	591,836.73	5,000,000	5,000,000	5,000,000	6.15600%	0.02382%	6.13218%	NAP
27.00	Loan		1	1535 Broadway	2,602.34	5,000,000	5,000,000	5,000,000	6.33195%	0.02172%	6.31023%	NAP
28.00	Loan		1	Shaw Park Plaza	197.60	5,000,000	4,992,580	4,736,526	6.90000%	0.02382%	6.87618%	32,930.01
29.00	Loan		1	50 Clifford Place	250,000.00	4,750,000	4,750,000	4,750,000	7.25000%	0.02382%	7.22618%	NAP
30.00	Loan		1	377 Ocean Parkway	97,826.09	4,500,000	4,500,000	4,500,000	6.01000%	0.02382%	5.98618%	NAP
31.00	Loan		1	8201 Bay Parkway	89,583.33	4,300,000	4,300,000	4,300,000	6.28000%	0.02382%	6.25618%	NAP
32.00	Loan		1	All Purpose Storage - Syracuse	62.15	3,600,000	3,600,000	3,600,000	7.48700%	0.02382%	7.46318%	NAP

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Monthly Debt Service (IO) ($)	Annual Debt Service (P&I) ($)	Annual Debt Service (IO) ($)	Amortization Type	ARD Loan (Yes / No)	Interest Accrual Method	Original Interest-Only Period (Mos.)
1.00	Loan		1	Century Business Center	333,554.66	NAP	4,002,655.92	Interest Only	No	Actual/360	60
2.00	Loan		1	Gateway Industrial Center	338,833.22	NAP	4,065,998.64	Interest Only	No	Actual/360	61
3.00	Loan		1	322 Grand Concourse	279,453.13	NAP	3,353,437.56	Interest Only	No	Actual/360	60
4.00	Loan		15	The Wharf	229,766.71	NAP	2,757,200.52	Interest Only	No	Actual/360	60
4.01	Property		1	670-680 Maine
4.02	Property		1	1000 Maine
4.03	Property		1	Phase I Retail
4.04	Property		1	The Channel
4.05	Property		1	Garage (Ph I)
4.06	Property		1	Hyatt House
4.07	Property		1	Phase II Retail
4.08	Property		1	Garage (Ph II)
4.09	Property		1	Canopy
4.10	Property		1	The Tides
4.11	Property		1	800 Maine
4.12	Property		1	The Anthem
4.13	Property		1	Incanto
4.14	Property		1	580 Water (Pier 4)
4.15	Property		1	Marina
5.00	Loan		1	200 Wood Avenue South	NAP	3,408,137.16	NAP	Amortizing Balloon	No	Actual/360	0
6.00	Loan		1	The Park Calabasas	229,199.72	NAP	2,750,396.64	Interest Only	No	Actual/360	60
7.00	Loan		1	The Roosevelt New Orleans	172,394.06	NAP	2,068,728.72	Interest Only	No	Actual/360	60
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	NAP	2,126,791.20	NAP	Amortizing Balloon	No	Actual/360	0
9.00	Loan		1	The Dior	112,668.40	NAP	1,352,020.80	Interest Only	No	Actual/360	60
10.00	Loan		1	111 on East Apartments	126,010.55	NAP	1,512,126.60	Interest Only	No	Actual/360	60
11.00	Loan		1	O'Hare 8 Portfolio	111,182.97	NAP	1,334,195.64	Interest Only	No	Actual/360	60
12.00	Loan		1	One Glen Lakes	110,907.28	NAP	1,330,887.36	Interest Only	No	Actual/360	60
13.00	Loan		1	Parkwyn Townhomes	92,317.43	NAP	1,107,809.16	Interest Only	No	Actual/360	60
14.00	Loan		1	347-363 Flushing Avenue	90,236.11	NAP	1,082,833.32	Interest Only	No	Actual/360	60
15.00	Loan		1	145 West 30th Street	84,406.25	NAP	1,012,875.00	Interest Only	No	Actual/360	60
16.00	Loan		1	Cedar Village at Minerva Square	81,111.11	NAP	973,333.32	Interest Only	No	Actual/360	60
17.00	Loan		1	3030 Brighton 12th Street	64,955.64	NAP	779,467.68	Interest Only	No	Actual/360	60
18.00	Loan		1	149-153 Wooster Street	58,974.54	NAP	707,694.48	Interest Only	No	Actual/360	60
19.00	Loan		1	North Park Shopping Center	61,852.29	NAP	742,227.48	Interest Only	No	Actual/360	60
20.00	Loan		1	Home2 Suites Pearland	NAP	607,956.60	NAP	Amortizing Balloon	No	Actual/360	0
21.00	Loan		1	1339 Morris Avenue	39,816.26	NAP	477,795.12	Interest Only	No	Actual/360	60
22.00	Loan		1	Dodge Industrial	36,836.78	NAP	442,041.36	Interest Only	No	Actual/360	60
23.00	Loan		1	2783 Webb Avenue	35,222.08	NAP	422,664.96	Interest Only	No	Actual/360	60
24.00	Loan		1	Hampton Inn Marysville	35,824.07	NAP	429,888.89	Interest Only	No	Actual/360	60
25.00	Loan		1	Hotel Shocard	33,394.97	NAP	400,739.58	Interest Only	No	Actual/360	60
26.00	Loan		1	1499 Bedford Avenue	26,006.25	NAP	312,075.00	Interest Only	No	Actual/360	60
27.00	Loan		1	1535 Broadway	26,749.56	NAP	320,994.72	Interest Only	No	Actual/360	60
28.00	Loan		1	Shaw Park Plaza	NAP	395,160.12	NAP	Amortizing Balloon	No	Actual/360	0
29.00	Loan		1	50 Clifford Place	29,096.50	NAP	349,158.00	Interest Only	No	Actual/360	60
30.00	Loan		1	377 Ocean Parkway	22,850.52	NAP	274,206.24	Interest Only	No	Actual/360	60
31.00	Loan		1	8201 Bay Parkway	22,815.88	NAP	273,790.56	Interest Only	No	Actual/360	60
32.00	Loan		1	All Purpose Storage - Syracuse	22,772.96	NAP	273,275.52	Interest Only	No	Actual/360	60

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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.)
1.00	Loan		1	Century Business Center	59	60	59	0	0	5/29/2025	1
2.00	Loan		1	Gateway Industrial Center	60	61	60	0	0	6/9/2025	1
3.00	Loan		1	322 Grand Concourse	60	60	60	0	0	6/12/2025	0
4.00	Loan		15	The Wharf	60	60	60	0	0	6/18/2025	0
4.01	Property		1	670-680 Maine
4.02	Property		1	1000 Maine
4.03	Property		1	Phase I Retail
4.04	Property		1	The Channel
4.05	Property		1	Garage (Ph I)
4.06	Property		1	Hyatt House
4.07	Property		1	Phase II Retail
4.08	Property		1	Garage (Ph II)
4.09	Property		1	Canopy
4.10	Property		1	The Tides
4.11	Property		1	800 Maine
4.12	Property		1	The Anthem
4.13	Property		1	Incanto
4.14	Property		1	580 Water (Pier 4)
4.15	Property		1	Marina
5.00	Loan		1	200 Wood Avenue South	0	60	59	360	359	5/14/2025	1
6.00	Loan		1	The Park Calabasas	60	60	60	0	0	6/13/2025	0
7.00	Loan		1	The Roosevelt New Orleans	60	60	60	0	0	6/30/2025	0
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	0	60	59	360	359	5/28/2025	1
9.00	Loan		1	The Dior	59	60	59	0	0	5/30/2025	1
10.00	Loan		1	111 on East Apartments	58	60	58	0	0	4/30/2025	2
11.00	Loan		1	O'Hare 8 Portfolio	60	60	60	0	0	6/13/2025	0
12.00	Loan		1	One Glen Lakes	59	60	59	0	0	6/6/2025	1
13.00	Loan		1	Parkwyn Townhomes	58	60	58	0	0	4/29/2025	2
14.00	Loan		1	347-363 Flushing Avenue	58	60	58	0	0	4/24/2025	2
15.00	Loan		1	145 West 30th Street	60	60	60	0	0	6/24/2025	0
16.00	Loan		1	Cedar Village at Minerva Square	60	60	60	0	0	6/20/2025	0
17.00	Loan		1	3030 Brighton 12th Street	58	60	58	0	0	4/30/2025	2
18.00	Loan		1	149-153 Wooster Street	59	60	59	0	0	5/27/2025	1
19.00	Loan		1	North Park Shopping Center	59	60	59	0	0	6/6/2025	1
20.00	Loan		1	Home2 Suites Pearland	0	60	59	360	359	5/30/2025	1
21.00	Loan		1	1339 Morris Avenue	59	60	59	0	0	5/9/2025	1
22.00	Loan		1	Dodge Industrial	59	60	59	0	0	6/6/2025	1
23.00	Loan		1	2783 Webb Avenue	59	60	59	0	0	5/9/2025	1
24.00	Loan		1	Hampton Inn Marysville	59	60	59	0	0	5/15/2025	1
25.00	Loan		1	Hotel Shocard	59	60	59	0	0	6/6/2025	1
26.00	Loan		1	1499 Bedford Avenue	59	60	59	0	0	5/30/2025	1
27.00	Loan		1	1535 Broadway	58	60	58	0	0	4/14/2025	2
28.00	Loan		1	Shaw Park Plaza	0	60	58	360	358	5/5/2025	2
29.00	Loan		1	50 Clifford Place	59	60	59	0	0	5/9/2025	1
30.00	Loan		1	377 Ocean Parkway	58	60	58	0	0	4/29/2025	2
31.00	Loan		1	8201 Bay Parkway	58	60	58	0	0	4/30/2025	2
32.00	Loan		1	All Purpose Storage - Syracuse	58	60	58	0	0	5/8/2025	2

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Payment Due Date	First Payment Date	First P&I Payment Date	Maturity Date or Anticipated Repayment Date	Final Maturity Date	Grace Period - Late Fee (Days)	Grace Period - Default (Days)	Prepayment Provision
1.00	Loan		1	Century Business Center	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(28),O(7)
2.00	Loan		1	Gateway Industrial Center	6	7/6/2025	NAP	7/6/2030	NAP	0	0	L(25),D(29),O(7)
3.00	Loan		1	322 Grand Concourse	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),D(30),O(6)
4.00	Loan		15	The Wharf	11	8/11/2025	NAP	7/11/2030	NAP	5	0	L(24),DorYM1(29),O(7)
4.01	Property		1	670-680 Maine
4.02	Property		1	1000 Maine
4.03	Property		1	Phase I Retail
4.04	Property		1	The Channel
4.05	Property		1	Garage (Ph I)
4.06	Property		1	Hyatt House
4.07	Property		1	Phase II Retail
4.08	Property		1	Garage (Ph II)
4.09	Property		1	Canopy
4.10	Property		1	The Tides
4.11	Property		1	800 Maine
4.12	Property		1	The Anthem
4.13	Property		1	Incanto
4.14	Property		1	580 Water (Pier 4)
4.15	Property		1	Marina
5.00	Loan		1	200 Wood Avenue South	11	7/11/2025	7/11/2025	6/11/2030	NAP	0	0	L(25),D(31),O(4)
6.00	Loan		1	The Park Calabasas	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),YM1(29),O(7)
7.00	Loan		1	The Roosevelt New Orleans	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),D(29),O(7)
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	11	7/11/2025	7/11/2025	6/11/2030	NAP	0	0	L(25),D(28),O(7)
9.00	Loan		1	The Dior	11	7/11/2025	NAP	6/11/2030	NAP	0	0	L(25),D(31),O(4)
10.00	Loan		1	111 on East Apartments	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),D(30),O(4)
11.00	Loan		1	O'Hare 8 Portfolio	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),D(29),O(7)
12.00	Loan		1	One Glen Lakes	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
13.00	Loan		1	Parkwyn Townhomes	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(7),YM2(49),O(4)
14.00	Loan		1	347-363 Flushing Avenue	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),D(28),O(6)
15.00	Loan		1	145 West 30th Street	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),D(29),O(7)
16.00	Loan		1	Cedar Village at Minerva Square	6	8/6/2025	NAP	7/6/2030	NAP	0	0	L(24),D(32),O(4)
17.00	Loan		1	3030 Brighton 12th Street	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),YM1(28),O(6)
18.00	Loan		1	149-153 Wooster Street	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(28),O(7)
19.00	Loan		1	North Park Shopping Center	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(28),O(7)
20.00	Loan		1	Home2 Suites Pearland	6	7/6/2025	7/6/2025	6/6/2030	NAP	0	0	L(25),YM1(28),O(7)
21.00	Loan		1	1339 Morris Avenue	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
22.00	Loan		1	Dodge Industrial	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
23.00	Loan		1	2783 Webb Avenue	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
24.00	Loan		1	Hampton Inn Marysville	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(30),O(5)
25.00	Loan		1	Hotel Shocard	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
26.00	Loan		1	1499 Bedford Avenue	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(29),O(6)
27.00	Loan		1	1535 Broadway	1	6/1/2025	NAP	5/1/2030	NAP	3	0	L(26),D(27),O(7)
28.00	Loan		1	Shaw Park Plaza	5	6/5/2025	6/5/2025	5/5/2030	NAP	0	0	L(26),DorYM1(27),O(7)
29.00	Loan		1	50 Clifford Place	6	7/6/2025	NAP	6/6/2030	NAP	0	0	L(25),D(31),O(4)
30.00	Loan		1	377 Ocean Parkway	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),YM1(28),O(6)
31.00	Loan		1	8201 Bay Parkway	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),YM1(28),O(6)
32.00	Loan		1	All Purpose Storage - Syracuse	6	6/6/2025	NAP	5/6/2030	NAP	0	0	L(26),D(30),O(4)

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-282099-05

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Most Recent EGI ($)	Most Recent Expenses ($)	Most Recent NOI ($)	Most Recent NOI Date	Most Recent Description	Second Most Recent EGI ($)	Second Most Recent Expenses ($)	Second Most Recent NOI ($)
1.00	Loan		1	Century Business Center	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
2.00	Loan		1	Gateway Industrial Center	9,844,984	3,734,484	6,110,500	4/30/2025	T-12	9,590,218	3,699,195	5,891,023
3.00	Loan		1	322 Grand Concourse	5,570,423	488,190	5,082,233	4/30/2025	T-3 Annualized	3,068,830	533,988	2,534,842
4.00	Loan		15	The Wharf	177,897,628	92,831,824	85,065,804	3/31/2025	T-12	177,037,288	91,133,015	85,904,273
4.01	Property		1	670-680 Maine	26,547,325	15,016,503	11,530,822	3/31/2025	T-12	26,064,701	14,599,219	11,465,482
4.02	Property		1	1000 Maine	20,374,686	9,262,425	11,112,261	3/31/2025	T-12	20,515,868	9,075,507	11,440,361
4.03	Property		1	Phase I Retail	17,876,633	8,289,828	9,586,805	3/31/2025	T-12	18,111,046	8,259,562	9,851,484
4.04	Property		1	The Channel	13,983,494	6,911,862	7,071,632	3/31/2025	T-12	13,998,573	6,860,813	7,137,760
4.05	Property		1	Garage (Ph I)	11,970,392	3,500,451	8,469,941	3/31/2025	T-12	12,031,430	3,677,779	8,353,651
4.06	Property		1	Hyatt House	19,621,169	12,635,862	6,985,307	3/31/2025	T-12	19,307,578	12,506,062	6,801,516
4.07	Property		1	Phase II Retail	7,863,025	2,621,501	5,241,524	3/31/2025	T-12	7,693,145	2,531,528	5,161,617
4.08	Property		1	Garage (Ph II)	6,709,439	2,109,831	4,599,608	3/31/2025	T-12	6,605,376	2,046,817	4,558,559
4.09	Property		1	Canopy	17,416,676	12,888,145	4,528,531	3/31/2025	T-12	17,279,138	12,647,839	4,631,299
4.10	Property		1	The Tides	5,773,605	3,817,707	1,955,899	3/31/2025	T-12	5,818,564	3,653,387	2,165,177
4.11	Property		1	800 Maine	10,624,018	5,912,959	4,711,059	3/31/2025	T-12	10,900,772	5,815,173	5,085,599
4.12	Property		1	The Anthem	6,289,377	1,201,039	5,088,338	3/31/2025	T-12	6,072,631	1,206,007	4,866,624
4.13	Property		1	Incanto	4,314,479	2,961,888	1,352,591	3/31/2025	T-12	4,297,199	2,972,636	1,324,563
4.14	Property		1	580 Water (Pier 4)	3,358,579	1,303,687	2,054,892	3/31/2025	T-12	3,315,256	1,268,317	2,046,939
4.15	Property		1	Marina	5,174,730	4,398,136	776,594	3/31/2025	T-12	5,026,011	4,012,369	1,013,642
5.00	Loan		1	200 Wood Avenue South	11,422,261	5,035,934	6,386,328	2/28/2025	T-12	11,206,812	4,907,430	6,299,382
6.00	Loan		1	The Park Calabasas	10,771,392	4,127,085	6,644,307	3/31/2025	T-12	10,663,740	4,220,152	6,443,588
7.00	Loan		1	The Roosevelt New Orleans	66,737,231	46,506,993	20,230,238	3/31/2025	T-12	63,171,481	45,530,930	17,640,551
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	14,081,809	9,171,266	4,910,543	3/31/2025	T-12	13,807,449	9,261,735	4,545,714
9.00	Loan		1	The Dior	1,794,088	295,292	1,498,796	3/31/2025	T-12	1,790,618	309,089	1,481,529
10.00	Loan		1	111 on East Apartments	3,248,190	1,353,797	1,894,393	3/31/2025	T-12	2,996,455	1,522,442	1,474,013
11.00	Loan		1	O'Hare 8 Portfolio	2,025,165	443,414	1,581,751	3/31/2025	T-12	1,943,388	467,237	1,476,151
12.00	Loan		1	One Glen Lakes	4,016,505	2,192,870	1,823,635	3/31/2025	T-12	4,032,891	2,210,748	1,822,143
13.00	Loan		1	Parkwyn Townhomes	4,265,844	2,513,392	1,752,452	2/28/2025	T-12	4,213,753	2,561,683	1,652,070
14.00	Loan		1	347-363 Flushing Avenue	4,344,105	1,288,952	3,055,154	2/28/2025	T-12	NAV	NAV	NAV
15.00	Loan		1	145 West 30th Street	3,147,974	1,706,116	1,441,858	3/31/2025	T-12	3,141,909	1,707,380	1,434,529
16.00	Loan		1	Cedar Village at Minerva Square	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
17.00	Loan		1	3030 Brighton 12th Street	1,836,977	698,841	1,138,137	2/28/2025	T-12	1,816,602	711,365	1,105,237
18.00	Loan		1	149-153 Wooster Street	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
19.00	Loan		1	North Park Shopping Center	1,952,211	740,242	1,211,968	4/30/2025	T-12	1,879,501	744,447	1,135,054
20.00	Loan		1	Home2 Suites Pearland	3,297,679	2,198,408	1,099,271	3/31/2025	T-12	3,346,178	2,192,374	1,153,803
21.00	Loan		1	1339 Morris Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
22.00	Loan		1	Dodge Industrial	993,795	339,868	653,927	4/30/2025	T-12	933,884	344,802	589,082
23.00	Loan		1	2783 Webb Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	NAV
24.00	Loan		1	Hampton Inn Marysville	2,390,000	1,451,000	939,000	2/28/2025	T-12	2,145,000	1,351,000	794,000

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	Second Most Recent NOI Date	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 (%)
1.00	Loan		1	Century Business Center	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%
2.00	Loan		1	Gateway Industrial Center	12/31/2024	T-12	8,294,359	2,904,901	5,389,457	12/31/2023	T-12	79.3%
3.00	Loan		1	322 Grand Concourse	12/31/2024	T-12	NAV	NAV	NAV	NAV	NAV	95.0%
4.00	Loan		15	The Wharf	12/31/2024	T-12	169,459,101	88,666,801	80,792,301	12/31/2023	T-12	90.3%
4.01	Property		1	670-680 Maine	12/31/2024	T-12	25,046,927	12,502,090	12,544,837	12/31/2023	T-12	86.7%
4.02	Property		1	1000 Maine	12/31/2024	T-12	20,413,581	8,270,699	12,142,882	12/31/2023	T-12	100.0%
4.03	Property		1	Phase I Retail	12/31/2024	T-12	18,284,489	7,737,431	10,547,058	12/31/2023	T-12	83.9%
4.04	Property		1	The Channel	12/31/2024	T-12	13,960,725	6,836,895	7,123,830	12/31/2023	T-12	91.1%
4.05	Property		1	Garage (Ph I)	12/31/2024	T-12	12,124,614	4,146,770	7,977,844	12/31/2023	T-12	100.0%
4.06	Property		1	Hyatt House	12/31/2024	T-12	18,040,705	11,997,729	6,042,976	12/31/2023	T-12	79.8%
4.07	Property		1	Phase II Retail	12/31/2024	T-12	6,095,942	2,076,312	4,019,630	12/31/2023	T-12	98.0%
4.08	Property		1	Garage (Ph II)	12/31/2024	T-12	6,029,688	3,252,265	2,777,423	12/31/2023	T-12	100.0%
4.09	Property		1	Canopy	12/31/2024	T-12	17,093,197	12,837,205	4,255,992	12/31/2023	T-12	78.5%
4.10	Property		1	The Tides	12/31/2024	T-12	4,620,594	3,766,924	853,669	12/31/2023	T-12	82.1%
4.11	Property		1	800 Maine	12/31/2024	T-12	10,200,265	5,777,310	4,422,955	12/31/2023	T-12	100.0%
4.12	Property		1	The Anthem	12/31/2024	T-12	5,631,616	1,486,525	4,145,091	12/31/2023	T-12	100.0%
4.13	Property		1	Incanto	12/31/2024	T-12	4,363,617	3,037,234	1,326,383	12/31/2023	T-12	90.6%
4.14	Property		1	580 Water (Pier 4)	12/31/2024	T-12	3,077,751	1,299,635	1,778,116	12/31/2023	T-12	82.1%
4.15	Property		1	Marina	12/31/2024	T-12	4,475,391	3,641,777	833,614	12/31/2023	T-12	100.0%
5.00	Loan		1	200 Wood Avenue South	12/31/2024	T-12	8,941,912	4,520,814	4,421,098	12/31/2023	T-12	92.5%
6.00	Loan		1	The Park Calabasas	12/31/2024	T-12	9,757,468	4,127,629	5,629,839	12/31/2023	T-12	95.0%
7.00	Loan		1	The Roosevelt New Orleans	12/31/2024	T-12	62,442,563	43,408,039	19,034,524	12/31/2023	T-12	70.2%
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	12/31/2024	T-12	16,696,722	11,177,253	5,519,469	12/31/2023	T-12	54.3%
9.00	Loan		1	The Dior	12/31/2024	T-12	1,439,865	421,531	1,018,334	12/31/2023	T-12	95.0%
10.00	Loan		1	111 on East Apartments	12/31/2023	T-12	2,803,397	1,455,863	1,347,534	12/31/2022	T-12	94.9%
11.00	Loan		1	O'Hare 8 Portfolio	12/31/2024	T-12	NAV	NAV	NAV	NAV	NAV	94.9%
12.00	Loan		1	One Glen Lakes	12/31/2024	T-12	4,131,722	2,084,270	2,047,451	12/31/2023	T-12	83.1%
13.00	Loan		1	Parkwyn Townhomes	12/31/2024	T-12	3,889,256	2,163,857	1,725,400	12/31/2023	T-12	91.3%
14.00	Loan		1	347-363 Flushing Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	93.0%
15.00	Loan		1	145 West 30th Street	12/31/2024	T-12	2,976,907	1,861,289	1,115,618	12/31/2023	T-12	77.5%
16.00	Loan		1	Cedar Village at Minerva Square	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%
17.00	Loan		1	3030 Brighton 12th Street	12/31/2024	T-12	1,817,060	755,661	1,061,399	12/31/2023	T-12	98.0%
18.00	Loan		1	149-153 Wooster Street	NAV	NAV	NAV	NAV	NAV	NAV	NAV	97.0%
19.00	Loan		1	North Park Shopping Center	12/31/2024	T-12	1,678,430	762,605	915,825	12/31/2023	T-12	90.7%
20.00	Loan		1	Home2 Suites Pearland	12/31/2024	T-12	2,961,746	2,096,846	864,901	12/31/2023	T-12	87.4%
21.00	Loan		1	1339 Morris Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	92.7%
22.00	Loan		1	Dodge Industrial	12/31/2024	T-12	565,623	226,803	338,819	12/31/2023	T-12	95.0%
23.00	Loan		1	2783 Webb Avenue	NAV	NAV	NAV	NAV	NAV	NAV	NAV	95.0%
24.00	Loan		1	Hampton Inn Marysville	12/31/2024	T-12	2,361,000	1,457,000	904,000	12/31/2023	T-12	60.6%

Loan ID Number	Loan / Property Flag	Footnotes (for Loan and Property Information)	# of Properties	Property Name	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)
1.00	Loan		1	Century Business Center	8,091,378	371,141	7,720,237	210,000	0	7,510,237	1.82	1.77
2.00	Loan		1	Gateway Industrial Center	12,092,176	3,804,601	8,287,574	144,184	218,538	7,924,853	1.30	1.25
3.00	Loan		1	322 Grand Concourse	6,258,647	642,914	5,615,732	38,550	4,000	5,573,182	1.26	1.25
4.00	Loan		15	The Wharf	202,966,635	94,863,741	108,102,894	1,937,297	2,469,376	103,696,220	2.73	2.62
4.01	Property		1	670-680 Maine	44,590,549	15,917,619	28,672,930	100,196	1,001,962	27,570,772
4.02	Property		1	1000 Maine	23,904,488	9,389,036	14,515,453	49,850	498,502	13,967,100
4.03	Property		1	Phase I Retail	18,187,614	8,316,769	9,870,844	43,080	430,796	9,396,969
4.04	Property		1	The Channel	14,466,864	6,667,424	7,799,440	100,200	0	7,699,240
4.05	Property		1	Garage (Ph I)	12,214,948	3,670,839	8,544,110	0	0	8,544,110
4.06	Property		1	Hyatt House	19,621,169	12,728,876	6,892,293	784,847	0	6,107,446
4.07	Property		1	Phase II Retail	9,111,104	2,945,084	6,166,020	18,227	182,272	5,965,521
4.08	Property		1	Garage (Ph II)	6,690,104	2,784,410	3,905,694	0	0	3,905,694
4.09	Property		1	Canopy	17,416,676	12,862,149	4,554,527	696,667	0	3,857,860
4.10	Property		1	The Tides	6,752,961	3,930,953	2,822,008	51,000	0	2,771,008
4.11	Property		1	800 Maine	10,825,614	6,071,365	4,754,249	29,903	299,030	4,425,316
4.12	Property		1	The Anthem	6,538,560	1,915,634	4,622,926	28,046	0	4,594,880
4.13	Property		1	Incanto	4,504,665	2,997,522	1,507,143	29,600	0	1,477,543
4.14	Property		1	580 Water (Pier 4)	3,669,678	1,315,456	2,354,222	5,681	56,814	2,291,727
4.15	Property		1	Marina	4,471,639	3,350,604	1,121,035	0	0	1,121,035
5.00	Loan		1	200 Wood Avenue South	12,297,592	5,525,493	6,772,099	53,854	538,538	6,179,708	1.99	1.81
6.00	Loan		1	The Park Calabasas	10,907,106	4,395,395	6,511,711	44,533	333,517	6,133,661	2.37	2.23
7.00	Loan		1	The Roosevelt New Orleans	66,737,231	46,433,563	20,303,668	3,336,862	0	16,966,806	2.24	1.87
8.00	Loan		1	Marriott Dallas Fort Worth Airport South	14,081,809	9,707,424	4,374,385	563,272	0	3,811,113	2.06	1.79
9.00	Loan		1	The Dior	2,002,230	371,654	1,630,577	13,230	0	1,617,347	1.21	1.20
10.00	Loan		1	111 on East Apartments	3,470,981	1,495,937	1,975,044	74,100	0	1,900,944	1.31	1.26
11.00	Loan		1	O'Hare 8 Portfolio	2,494,707	631,688	1,863,019	33,649	74,406	1,754,964	1.40	1.32
12.00	Loan		1	One Glen Lakes	4,314,281	2,233,431	2,080,849	13,613	340,316	1,726,920	1.56	1.30
13.00	Loan		1	Parkwyn Townhomes	4,302,885	1,882,947	2,419,938	62,901	0	2,357,037	1.42	1.38
14.00	Loan		1	347-363 Flushing Avenue	8,528,192	1,209,804	7,318,388	29,648	185,303	7,103,437	1.35	1.31
15.00	Loan		1	145 West 30th Street	3,868,818	1,796,579	2,072,238	26,753	148,648	1,896,837	2.05	1.87
16.00	Loan		1	Cedar Village at Minerva Square	1,672,919	259,015	1,413,904	22,500	0	1,391,404	1.45	1.43
17.00	Loan		1	3030 Brighton 12th Street	1,832,675	785,367	1,047,309	24,000	0	1,023,309	1.34	1.31
18.00	Loan		1	149-153 Wooster Street	1,370,851	425,775	945,077	3,762	39,267	902,047	1.34	1.27
19.00	Loan		1	North Park Shopping Center	1,831,747	760,955	1,070,792	0	0	1,070,792	1.44	1.44
20.00	Loan		1	Home2 Suites Pearland	3,297,679	2,250,219	1,047,460	131,907	0	915,553	1.72	1.51
21.00	Loan		1	1339 Morris Avenue	904,032	136,736	767,296	6,250	0	761,046	1.61	1.59
22.00	Loan		1	Dodge Industrial	1,020,920	259,856	761,064	12,108	68,210	680,746	1.72	1.54
23.00	Loan		1	2783 Webb Avenue	746,076	94,569	651,507	4,750	0	646,757	1.54	1.53
24.00	Loan		1	Hampton Inn Marysville	2,390,000	1,491,858	898,142	95,600	0	802,542	2.09	1.87