UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

| | ☑ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
| | - | ------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2023
or

| | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
| | - | ----------------------------------------------------------------------------------------

For the transition period from _____ to _____
Commission file number of the issuing entity: 333-193376-22

Central Index Key Number of the issuing entity: 0001648195

COMM 2015-CCRE25 Mortgage Trust

(exact name of the issuing entity as specified in its charter)



Central Index Key Number of the depositor: 0001013454

Deutsche Mortgage & Asset Receiving Corporation

(exact name of the depositor as specified in its charter)



Central Index Key Number of the sponsor: 0001541294

German American Capital Corporation

(exact name of the sponsor as specified in its charter)



Central Index Key Number of the sponsor: 0001558761

Cantor Commercial Real Estate Lending, L.P.

(exact name of the sponsor as specified in its charter)



Central Index Key Number of the sponsor: 0001624053

Argentic Real Estate Finance LLC

(exact name of the sponsor as specified in its charter)

(formerly known as Silverpeak Real Estate Finance LLC)



Central Index Key Number of the sponsor: 0001089877

KeyBank National Association

(exact name of the sponsor as specified in its charter)



Central Index Key Number of the sponsor: 0001541468

Ladder Capital Finance LLC

(exact name of the sponsor as specified in its charter)



|New York(State or other jurisdiction of
    incorporation or organization of
    the issuing entity) | 47-4777100
    47-4838143
    47-7237141
    (I.R.S. Employer
    Identification Numbers)
|---------------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------------------------

c/o Deutsche Bank Trust Company Americas

as Certificate Administrator

1761 East St. Andrew Place

Santa Ana, CA

(Address of principal executive offices of the issuing
entity)

92705

(Zip Code)

Registrant’s telephone number, including area
code:

(212) 250-2500

Securities registered pursuant to Section 12(b) of the Act:

|Title of each class | Trading Symbol(s) | Name of each exchange on which registered
|------------------- | ----------------- | -----------------------------------------
|None                |                   |                                          

Securities registered pursuant to Section 12(g) of the Act: None.

Indicate by check mark if the registrant is a well-known seasoned issuer,
as defined in Rule 405 of the Securities Act. ☐ Yes ☑No

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act. ☐ Yes ☑No

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that
the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☑Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Not applicable.

Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large
accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”
in Rule 12b-2 of the Exchange Act.

|Large accelerated filer | ☐ | Accelerated filer         | ☐
|----------------------- | - | ------------------------- | -
|Non-accelerated filer   | ☑ | Smaller reporting company | ☐
|                        |   | Emerging growth company   | ☐

If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation
to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the
Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate
by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously
issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements
that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during
the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Act). ☐ Yes ☑No

State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price
of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

Not applicable.

Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court. ☐ Yes ☐ No

Not applicable.

Indicate the number of shares outstanding of each of the registrant’s
classes of common stock, as of the latest practicable date.

Not applicable.

DOCUMENTS INCORPORATED BY REFERENCE

List hereunder the following documents if incorporated by reference and the
Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders;
(2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933.
The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year
ended December 24, 1980).

Not applicable.










EXPLANATORY NOTES

The Heartland Industrial Portfolio Mortgage Loan, which constituted
approximately 10.6% of the asset pool of the issuing entity as of its cut-off date, is an asset of the issuing entity and is part of a
loan combination that includes the Heartland Industrial Portfolio Mortgage Loan and two other pari passu loans, which are not assets
of the issuing entity. This loan combination, including the Heartland Industrial Portfolio Mortgage Loan, is being serviced and administered
pursuant to the Pooling and Servicing Agreement, which is incorporated by reference as Exhibit 4.1 to this Annual Report on Form 10-K.

The Exhibit Index describes exhibits provided by certain parties (in their
capacities indicated on the Exhibit Index) with respect to the Pearlridge Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan,
which constituted approximately 4.3% and 2.5%, respectively, of the asset pool of the issuing entity as of its cut-off date.  The
Pearlridge Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan are each an asset of the issuing entity and are each part of
a loan combination that includes the Pearlridge Center Mortgage Loan or the Scottsdale Quarter Mortgage Loan and two other pari passu
loans and two subordinate companion loans, each which are not assets of the issuing entity. A pari passu portion of each loan combination
was securitized in the WP Glimcher Mall Trust 2015-WPG transaction (the “JPM 2015-WPG Transaction”). These loan combinations,
including the Pearlridge Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan, are being serviced and administered pursuant to
the pooling and servicing agreement for the JPM 2015-WPG Transaction, which is incorporated by reference as Exhibit 4.2 to this Annual
Report on Form 10-K.

The master servicer of a pooling and servicing agreement or trust and servicing
agreement also functions as the primary servicer of the related mortgage loans serviced and administered pursuant to such agreement unless
a separate primary servicer is identified herein. If this report does not identify a separate primary servicer, the servicer compliance
statement provided by the master servicer under any such agreement also encompasses its responsibilities as primary servicer of the related
mortgage loan or mortgage loans.

Wells Fargo Bank, National Association is the custodian of the Pearlridge
Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan. As a result, Wells Fargo Bank, National Association is a servicing function
participant in the capacities described above, because it is servicing mortgage loans that constituted 5% or more of the assets of the
issuing entity as of its cut-off date. The assessments of compliance with applicable servicing criteria and accountants’ attestation
reports delivered by Wells Fargo Bank, National Association in the capacities described above are listed in the Exhibit Index.

KeyBank National Association is the primary servicer of the Scottsdale Quarter
Mortgage Loan and the primary servicer and special servicer of the Pearlridge Center Mortgage Loan. These mortgage loans constitute more
than 5%, but less than 10%, of the pool assets of the issuing entity. Therefore, the Depositor included in this Annual Report on Form
10-K an assessment of compliance with applicable servicing criteria for KeyBank National Association and an accountants’ attestation
report pursuant to Item 1122 of Regulation AB because KeyBank National Association is servicing more than 5% of the pool assets. KeyBank
National Association is one of the sponsors. Therefore, the Depositor included in this Annual Report on Form 10-K a servicer compliance
statement for KeyBank National Association pursuant to Item 1123 of Regulation AB.

Wells Fargo Bank, National Association acts as trustee of the Pearlridge
Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan. Pursuant to the pooling and servicing agreement for the JPM 2015-WPG Transaction,
the trustee is required to provide an assessment of compliance with applicable servicing criteria solely with respect to Item 1122(d)(2)(iii)
of Regulation AB (regarding advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other
fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements). However, during the reporting
period, the trustee did not perform any servicing function with respect to the servicing criteria specified in Item 1122(d)(2)(iii) of
Regulation AB. The master servicer or the special servicer, to the extent required, performed the servicing function identified with respect
to Item 1122(d)(2)(iii) of Regulation AB, and each such party included Item 1122(d)(2)(iii) of Regulation AB in the assessment of compliance
with applicable servicing criteria and accountant’s attestation report for the subject transaction.  As a result, this Annual
Report on Form 10-K does not include an assessment of compliance with applicable servicing criteria of the trustee. One or more other
servicers of the Pearlridge Center Mortgage Loan and the Scottsdale Quarter Mortgage Loan have delivered one or more assessments of compliance
with respect to Item 1122(d)(2)(iii) of Regulation AB.

Wilmington Trust, National Association acts as trustee of the mortgage loans
serviced under the Pooling and Servicing Agreement. Pursuant to the Pooling and Servicing Agreement, the trustee is required to provide
an assessment of compliance with applicable servicing criteria solely with respect to Item 1122(d)(2)(iii) of Regulation AB (regarding
advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances,
are made, reviewed and approved as specified in the transaction agreements). However, during the reporting period, the trustee did not
perform any servicing function with respect to the servicing criteria specified in Item 1122(d)(2)(iii) of Regulation AB. The master servicer
or the special servicer, to the extent required, performed the servicing function identified with respect to Item 1122(d)(2)(iii) of Regulation
AB, and each such party included Item 1122(d)(2)(iii) of Regulation AB in the assessment of compliance with applicable servicing criteria
and accountant’s attestation report for the subject transaction.  As a result, this Annual Report on Form 10-K does not include
an assessment of compliance with applicable servicing criteria of the trustee. One or more other servicers of the mortgage loans serviced
under the Pooling and Servicing Agreement have delivered one or more assessments of compliance with respect to Item 1122(d)(2)(iii) of
Regulation AB.

This Annual Report on Form 10-K includes assessments of compliance with applicable
servicing criteria and accountants’ attestation reports from CoreLogic Solutions, LLC.  This entity was engaged by the master
servicer under the Pooling and Servicing Agreement (except with respect to those mortgage loans for which KeyBank National Association
is the primary servicer) to remit tax payments received from the escrow accounts of borrowers to local taxing authorities, to report tax
amounts due, to verify tax parcel information, and to verify non-escrow tax payments. These servicing functions are included within the
servicing criteria set forth in Items 1122(d)(4)(xi) and 1122(d)(4)(xii) of Regulation AB.  Therefore, under the principles-based
definition of “servicer” set forth in Item 1101(j) of Regulation AB that looks to the functions that an entity performs, this
vendor is a “servicer” for the purposes of Item 1122 of Regulation AB.  See Compliance and Disclosure Interpretations,
Section 301.01 (Item 1101(j)).

This Annual Report on Form 10-K includes an assessment
of compliance with applicable servicing criteria, accountants’ attestation report and servicer compliance statement from Computershare
Trust Company, National Association (“CTCNA”).  CTCNA was engaged by Wells Fargo Bank, National Association (“Wells
Fargo”), in its capacity as custodian, to perform certain specified servicing functions identified in the assessment of compliance
with applicable servicing criteria and accountants’ attestation reports. Wells Fargo engaged CTCNA in connection with the sale of
Wells Fargo’s corporate trust services business to CTCNA and its affiliates.

The assessments of compliance with applicable servicing criteria, accountants’
attestation reports and servicer compliance statements of the certificate administrator of the Pearlridge Center Mortgage Loan and the
Scottsdale Quarter Mortgage Loan are omitted from this Annual Report on Form 10-K as the certificate administrator pursuant to the related
pooling and servicing agreement or trust and servicing agreement does not perform any activities that address servicing criteria with
respect to the issuing entity and because they are each not a “servicer” that meets the criteria in Item 1108(a)(2)(i) through
(iii) of Regulation AB.

With respect to the pari passu loan combination that includes the
Scottsdale Quarter Mortgage Loan, (i) the report on assessment of compliance with servicing criteria and attestation report on assessment
of compliance with servicing criteria of Midland Loan Services, a Division of PNC Bank, National Association as special servicer of the
Scottsdale Quarter Mortgage Loan, listed on the Exhibit Index are omitted from this Annual Report on Form 10-K as they are not required
to be included on this Annual Report on Form 10-K per Instruction 3 to Item 1122 of Regulation AB because it is a party performing activities
that address servicing criteria relating to 5% or less of the assets of the issuing entity; and (ii) the servicer compliance statements
of Midland Loan Services, a Division of PNC Bank, National Association as special servicer of the Scottsdale Quarter Mortgage Loan listed
on the Exhibit Index is omitted from this Annual Report on Form 10-K as it is not required by Item 1123 of Regulation AB to be included
on this Annual Report on Form 10-K because they are each an unaffiliated party that is not a “servicer” that meets the criteria
in Item 1108(a)(2)(i) through (iii) of Regulation AB.

PART I

Item 1. Business.

Omitted.

Item 1A. Risk Factors.

Omitted.

Item 1B. Unresolved Staff Comments.

None.

Item 1C.  Cybersecurity.

Omitted.

Item 2. Properties.

Omitted.

Item 3. Legal Proceedings.

Omitted.

Item 4. Mine Safety Disclosures.

Not applicable.

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities.

Omitted.

Item 6.

[Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition
and Results of Operations.

Omitted.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Omitted.

Item 8. Financial Statements and Supplementary Data.

Omitted.

Item 9. Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure.

Omitted.

Item 9A. Controls and Procedures.

Omitted.

Item 9B. Other Information.

None.

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance.

Omitted.

Item 11. Executive Compensation.

Omitted.

Item 12. Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters.

Omitted.

Item 13. Certain Relationships and Related Transactions, and Director
Independence.

Omitted.

Item 14. Principal Accountant Fees and Services.

Omitted.

ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

The Heartland Industrial Portfolio Mortgage Loan (Loan Number 1 on Annex
A-1 of the prospectus supplement of the registrant relating to the issuing entity filed on August 25, 2015 pursuant to Rule 424(b)(5))
constitutes a significant obligor within the meaning of Item 1101(k)(2) of Regulation AB as disclosed in the prospectus supplement. In
accordance with Item 1112(b) of Regulation AB, the most recent unaudited net operating income of the significant obligor was $26,057,988.63
for the twelve-month period ended December 31, 2023.

Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider
Financial Information.

No entity or group of affiliated entities
provides any external credit enhancement or other support for the certificates within this transaction as described under Item 1114(a)
of Regulation AB.

Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial
Information).

No entity or group of affiliated entities provides any derivative instruments
or other support for the certificates within this transaction as described under Item 1115 of Regulation AB.

Item 1117 of Regulation AB, Legal Proceedings.

The registrant knows of no material pending legal proceeding involving the
trust or any party related to the trust, other than routine litigation incidental to the duties of those respective parties, and the following,
with respect to Wells Fargo Bank, National Association, as trustee, as certificate administrator and as custodian, and Deutsche Bank Trust
Company Americas, as certificate administrator and as custodian.

In December 2014, Phoenix Light SF Limited (Phoenix Light) and certain related
entities filed a complaint in the United States District Court for the Southern District of New York alleging claims against Wells Fargo
Bank, N.A., in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts. Complaints raising similar
allegations have been filed by Commerzbank AG in the Southern District of New York, IKB International and IKB Deutsche Industriebank (together,
IKB) in New York state court, and Park Royal I LLC and Park Royal II LLC in New York state court. In each case, the plaintiffs allege
that Wells Fargo Bank, N.A., as trustee, caused losses to investors, and plaintiffs assert causes of action based upon, among other things,
the trustee’s alleged failure to notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations
and warranties, notify investors of alleged events of default, and abide by appropriate standards of care following alleged events of
default. In July 2022, the district court dismissed Phoenix Light’s claims and certain of the claims asserted by Commerzbank AG,
and subsequently entered judgment in each case in favor of Wells Fargo Bank, N.A. In August 2022, Phoenix Light and Commerzbank AG each
appealed the district court’s decision to the United States Court of Appeals for the Second Circuit. Phoenix Light dismissed its
appeal in May 2023, terminating its case. In November 2023, Wells Fargo Bank, N.A. entered into an agreement with IKB to resolve IKB’s
claims. Wells Fargo Bank, N.A. previously settled two class actions filed by institutional investors and an action filed by the National
Credit Union Administration with similar allegations.

Deutsche Bank Trust Company Americas (“DBTCA”) and Deutsche Bank National Trust Company (“DBNTC”) have been sued
by investors in civil litigation concerning their role as trustees of certain residential mortgage-backed securities (“RMBS”)
trusts.



On June 18, 2014, a group of investors, including funds managed by Blackrock Advisors,
LLC, PIMCO-Advisors, L.P., and others, filed an action against DBNTC and DBTCA in New York State Supreme Court alleging that DBNTC and
DBTCA failed to perform purported duties, as trustees for 544 private-label RMBS trusts, to enforce breaches of representations and warranties
as to mortgage loans held by the trusts and to enforce breaches by servicers of their mortgage loan servicing obligations for the trusts.
During the course of the litigation, plaintiffs dismissed the case from New York State Supreme Court and refiled two separate cases, one
in the U.S. District Court for the Southern District of New York (the “BlackRock SDNY Case”) and the other in the Superior
Court of California, Orange County (the “BlackRock California Case”). Pursuant to a settlement among the parties, the BlackRock
SDNY Case was dismissed on December 6, 2018, and the BlackRock California Case was dismissed on January 11, 2019.



On September 27, 2017, DBTCA was added as a defendant to a case brought by certain
special purpose entities including Phoenix Light SF Limited in the U.S. District Court for the Southern District of New York, in which
the plaintiffs previously alleged incorrectly that DBNTC served as trustee for all 43 of the trusts at issue. On September 27, 2017, plaintiffs
filed a third amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for one of the 43 trusts
at issue. DBNTC serves as trustee for the other 42 trusts at issue. Plaintiffs’ third amended complaint brings claims for violation
of the U.S. Trust Indenture Act of 1939 (“TIA”); breach of contract; breach of fiduciary duty; negligence and gross negligence;
violation of New York’s Streit Act; and breach of the covenant of good faith. However, in the third amended complaint, plaintiffs
acknowledge that, before DBTCA was added to the case, the court dismissed plaintiffs’ TIA Act claims, negligence and gross negligence
claims, Streit Act claims, claims for breach of the covenant of good faith, and certain theories of plaintiffs’ breach of contract
claims, and plaintiffs only include these claims to preserve any rights on appeal. Plaintiffs allege damages of “hundreds of millions
of dollars.” On November 13, 2017, DBNTC and DBTCA filed an answer to the third amended complaint. On December 7, 2018, DBNTC and
DBTCA filed a motion for summary judgment. Also on December 7, 2018, plaintiffs, jointly with Commerzbank AG (see description of Commerzbank
case below), filed a motion for partial summary judgment. On October 27, 2021, DBNTC and DBTCA filed a supplemental motion for summary
judgment relating to plaintiffs’ standing. On February 8, 2022, the court issued an order in which it granted DBNTC and DBTCA’s
supplemental motion for summary judgment, granted in part DBNTC and DBTCA’s initial motion for summary judgment, and denied plaintiffs’
motion for partial summary judgment. As a result of that order, all of plaintiffs’ claims were dismissed with prejudice. On April
26, 2023, the United States Court of Appeals for the Second Circuit affirmed the court’s summary judgment order.



On November 30, 2017, DBTCA was added as a defendant to a case brought by Commerzbank
AG (“Commerzbank”) in the U.S. District Court for the Southern District of New York, in which Commerzbank previously alleged
incorrectly that DBNTC served as trustee for all 50 of the trusts at issue. On November 30, 2017, Commerzbank filed a second amended complaint
that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for 1 of the 50 trusts at issue. DBNTC serves as trustee
for the other 49 trusts at issue. Commerzbank’s second amended complaint brings claims for violation of the TIA; breach of contract;
breach of fiduciary duty; negligence; violation of the Streit Act; and breach of the covenant of good faith. However, in the second amended
complaint, Commerzbank acknowledges that, before DBTCA was added to the case, the court dismissed Commerzbank’s TIA claims for the
trusts governed by pooling and servicing agreements, as well as its Streit Act claims and claims for breach of the covenant of good faith,
and Commerzbank only includes these claims to preserve any rights on appeal. The second amended complaint alleges that DBNTC and DBTCA
caused Commerzbank to suffer “hundreds of millions of dollars in losses,” but the complaint does not include a demand for
money damages in a sum certain. On January 29, 2018, DBNTC and DBTCA filed an answer to the second amended complaint. On December 7, 2018,
DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, Commerzbank, jointly with the Phoenix Light plaintiffs,
filed a motion for partial summary judgment. On February 8, 2022, the court issued an order in which it granted in part DBNTC and DBTCA’s
motion for summary judgment and denied plaintiffs’ motion for partial summary judgment. As a result of that order, many of plaintiffs’
claims and theories were dismissed with prejudice. Discovery is ongoing.



On December 30, 2015, IKB International, S.A. in Liquidation and IKB Deutsche Industriebank
A.G. (collectively, “IKB”), as an investor in 37 RMBS trusts, filed a summons with notice in the Supreme Court of the State
of New York, New York County, against DBNTC and DBTCA as trustees of the trusts. On May 27, 2016, IKB served its complaint asserting claims
for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of the Streit Act, violation
of the TIA, violation of Regulation AB, and violation of Section 9 of the Uniform Commercial Code. IKB alleges that DBNTC and DBTCA are
liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and DBTCA, together with several other trustees defending lawsuits
by IKB, filed a joint motion to dismiss. On January 6, 2017 and June 20, 2017, IKB voluntarily dismissed with prejudice all claims as
to seven trusts. On January 27, 2021, the court granted in part and denied in part DBNTC and DBTCA’s motion to dismiss. The court
granted the motion to dismiss with respect to IKB’s claims for violations of the Streit Act, Regulation AB, and Section 9 of the
Uniform Commercial Code, as well as certain aspects of IKB’s claims for breach of contract, breach of fiduciary duty, and violation
of the TIA. The court denied the remainder of the motion to dismiss. IKB’s remaining claims for breach of contract, breach of fiduciary
duty, breach of duty to avoid conflicts of interest, and violation of the TIA will proceed. On May 10, 2021, DBNTC and DBTCA filed a notice
of appeal with the New York Supreme Court Appellate Division, First Department, regarding certain aspects of the court’s order on
the motion to dismiss. On May 20, 2021, IKB filed a notice of cross appeal with respect to other aspects of that order. On August 30,
2022, the New York Supreme Court, Appellate Division, First Department affirmed in part and reversed in part the court’s order on
the motion to dismiss. After DBNTC and DBTCA appealed the First Department’s decision, on June 15, 2023, the New York Court of Appeals
reversed the First Department’s decision in part, dismissing certain additional contract claims, as well as IKB’s claims for
breach of fiduciary duty and breach of duty to avoid conflicts of interest. On June 2, 2021, IKB filed a motion for re-argument regarding
certain aspects of the court’s order on the motion to dismiss, which the court denied on August 3, 2021. On May 13, 2021, DBNTC
and DBTCA filed an answer to the complaint. On October 28, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to seven additional trusts. On December 29, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to one additional trust. On April 22, 2022, the parties filed a stipulation, voluntarily dismissing with prejudice all claims
as to 17 certificates at issue, including all claims as to 5 trusts. On February 28, 2023, the parties filed a stipulation, voluntarily
dismissing with prejudice all claims as to two trusts, leaving 15 trusts at issue. On November 21, 2023, the parties filed a stipulation,
voluntarily dismissing with prejudice all claims as to three trusts, leaving 12 trusts at issue. Discovery is ongoing.



It is DBTCA’s belief that it has no pending legal proceedings (including,
based on DBTCA’s present evaluation, the litigation disclosed in the foregoing paragraphs) that would materially affect its ability
to perform its duties under the related servicing agreement for this transaction.

Item 1119 of Regulation AB, Affiliations and Certain Relationships
and Related Transactions.

The information regarding this Item has been previously provided in a prospectus
supplement of the Registrant relating to the issuing entity filed on August 25, 2015 pursuant to Rule 424(b)(5).

Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.

The reports on assessments of compliance with the servicing criteria for
asset-backed securities and related attestation reports on such assessments of compliance with respect to the mortgage loans are attached
hereto under Item 15 to this Annual Report on Form 10-K. Attached as Schedule II to the Pooling and Servicing Agreement incorporated by
reference as Exhibit 4.1 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function
for the transaction responsible for each applicable servicing criteria set forth in Item 1122(d).

The reports on assessments of compliance with the servicing criteria for
asset-backed securities and related attestation reports on such assessments of compliance with respect to the Pearlridge Center Mortgage
Loan and the Scottsdale Quarter Mortgage Loan, which are being serviced and administered pursuant to the pooling and servicing agreement
for the JPM 2015-WPG Transaction, are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit M to the pooling
and servicing agreement for the JPM 2015-WPG Transaction incorporated by reference as Exhibit 4.2 to this Annual Report on Form 10-K is
a chart identifying the entities participating in a servicing function for the JPM 2015-WPG Transaction responsible for each applicable
servicing criteria set forth in Item 1122(d).

Item 1123 of Regulation AB, Servicer Compliance Statement.

The servicer compliance statements are attached as Exhibits to this Annual
Report on Form 10-K.

PART IV

Item 15. Exhibit and Financial Statement Schedules

(a) The following is a list of documents filed as part of this Annual Report
on Form 10-K:

(1) Not applicable

(2) Not applicable

(3) See below

| | 4.1 | Pooling and Servicing Agreement, dated as of
August 1, 2015, by and among Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, CWCapital Asset Management LLC, as a Special Servicer, LNR Partners, LLC, as a Special Servicer, Wilmington Trust,
National Association, as Trustee, Deutsche Bank Trust Company Americas, as Certificate Administrator, Paying Agent and Custodian, and
Pentalpha Surveillance LLC, as Operating Advisor (filed as Exhibit 4 to the registrant’s Current Report on Form 8-K filed on August
25, 2015 under Commission File No. 333-193376-22 and incorporated by reference herein).
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.2 | Pooling and Servicing Agreement, dated as
of July 24, 2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, KeyBank National Association, as
Servicer and Pearlridge Special Servicer, Pacific Life Insurance Company, as Scottsdale Special Servicer and Wells Fargo Bank, National
Association, as Trustee and Certificate Administrator (filed as Exhibit 99.7 to the registrant’s Current Report on Form 8-K filed
on August 25, 2015 under Commission File No. 333-193376-22 and incorporated by reference herein).
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.3 | Co-Lender Agreement, dated as of
August 6, 2015, between German American Capital Corporation, as Note A-1 Holder, Note A-2 Holder and Note A-3 Holder (filed as Exhibit
4.1 to the registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission File No. 333-193376-22 and incorporated
by reference herein)
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.4 | Co-Lender Agreement, dated as of
July 24, 2015, by and among JPMorgan Chase Bank, National Association, as Initial Note 1 Holder, and German American Capital Corporation,
as Initial Note 2 Holder (filed as Exhibit 4.2 to the registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission
File No. 333-193376-22 and incorporated by reference herein)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.5 | Co-Lender Agreement, dated as of
July 24, 2015, by and among JPMorgan Chase Bank, National Association, as Initial Note 1 Holder, and German American Capital Corporation,
as Initial Note 2 Holder (filed as Exhibit 4.3 to the registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission
File No. 333-193376-22 and incorporated by reference herein)
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 31 | Rule 13a-14(d)/15d-14(d) Certifications.
| | -- | ----------------------------------------

| | 33 | Reports on assessment of compliance with servicing criteria for asset-backed securities.
| | -- | ----------------------------------------------------------------------------------------

| | 33.1 | Wells Fargo Bank, National Association, as Master Servicer
| | ---- | ----------------------------------------------------------

| | 33.2 | CWCapital Asset Management LLC, as Special Servicer
| | ---- | ---------------------------------------------------

| | 33.3 | Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory Notes.)
| | ---- | ------------------------------------------------------------------------------------

| | 33.4 | Deutsche Bank Trust Company Americas, as Certificate Administrator and Custodian
| | ---- | --------------------------------------------------------------------------------

| | 33.5 | Pentalpha Surveillance LLC, as Operating Advisor
| | ---- | ------------------------------------------------

| | 33.6 | CoreLogic Solutions, LLC, as Servicing Function Participant
| | ---- | -----------------------------------------------------------

| | 33.7 | KeyBank National Association, as Primary Servicer
| | ---- | -------------------------------------------------

| | 33.8 | Wells Fargo Bank, National Association, as Primary Servicer of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 33.1)
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------

| | 33.9 | LNR Partners, LLC, as Special Servicer of the Heartland Industrial Portfolio Mortgage Loan
| | ---- | ------------------------------------------------------------------------------------------

| | 33.10 | Wilmington Trust, National Association, as Trustee of the Heartland Industrial Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------

| | 33.11 | Deutsche Bank Trust Company Americas, as Custodian of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 33.4)
| | ----- | -------------------------------------------------------------------------------------------------------------------------

| | 33.12 | Pentalpha Surveillance LLC, as Operating Advisor of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 33.5)
| | ----- | -----------------------------------------------------------------------------------------------------------------------

| | 33.13 | CoreLogic Solutions, LLC, as Servicing Function Participant of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 33.6)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------

| | 33.14 | KeyBank National Association, as Primary Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 33.7)
| | ----- | -----------------------------------------------------------------------------------------------------------

| | 33.15 | KeyBank National Association, as Special Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 33.7)
| | ----- | -----------------------------------------------------------------------------------------------------------

| | 33.16 | Wells Fargo Bank, National Association, as Trustee of the Pearlridge Center Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ---------------------------------------------------------------------------------------------------------------------------

| | 33.17 | Wells Fargo Bank, National Association, as Custodian of the Pearlridge Center Mortgage Loan
| | ----- | -------------------------------------------------------------------------------------------

| | 33.18 | Computershare Trust Company, National Association, as Servicing Function Participant for the Custodian
| | ----- | ------------------------------------------------------------------------------------------------------

| | 33.19 | KeyBank National Association, as Primary Servicer of the Scottsdale Quarter Mortgage Loan (see Exhibit 33.7)
| | ----- | ------------------------------------------------------------------------------------------------------------

| | 33.20 | Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Scottsdale Quarter Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 33.21 | Wells Fargo Bank, National Association, as Trustee of the Scottsdale Quarter Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------

| | 33.22 | Wells Fargo Bank, National Association, as Custodian of the Scottsdale Quarter Mortgage Loan (see Exhibit 33.17)
| | ----- | ----------------------------------------------------------------------------------------------------------------

| | 33.23 | Computershare Trust Company, National Association, as Servicing Function Participant for the Custodian (see Exhibit 33.18)
| | ----- | --------------------------------------------------------------------------------------------------------------------------

| | 34 | Attestation reports on assessment of compliance with servicing criteria for asset-backed securities.
| | -- | ----------------------------------------------------------------------------------------------------

| | 34.1 | Wells Fargo Bank, National Association, as Master Servicer
| | ---- | ----------------------------------------------------------

| | 34.2 | CWCapital Asset Management LLC, as Special Servicer
| | ---- | ---------------------------------------------------

| | 34.3 | Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory Notes.)
| | ---- | ------------------------------------------------------------------------------------

| | 34.4 | Deutsche Bank Trust Company Americas, as Certificate Administrator and Custodian
| | ---- | --------------------------------------------------------------------------------

| | 34.5 | Pentalpha Surveillance LLC, as Operating Advisor
| | ---- | ------------------------------------------------

| | 34.6 | CoreLogic Solutions, LLC, as Servicing Function Participant
| | ---- | -----------------------------------------------------------

| | 34.7 | KeyBank National Association, as Primary Servicer
| | ---- | -------------------------------------------------

| | 34.8 | Wells Fargo Bank, National Association, as Primary Servicer of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 34.1)
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------

| | 34.9 | LNR Partners, LLC, as Special Servicer of the Heartland Industrial Portfolio Mortgage Loan
| | ---- | ------------------------------------------------------------------------------------------

| | 34.10 | Wilmington Trust, National Association, as Trustee of the Heartland Industrial Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------

| | 34.11 | Deutsche Bank Trust Company Americas, as Custodian of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 34.4)
| | ----- | -------------------------------------------------------------------------------------------------------------------------

| | 34.12 | Pentalpha Surveillance LLC, as Operating Advisor of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 34.5)
| | ----- | -----------------------------------------------------------------------------------------------------------------------

| | 34.13 | CoreLogic Solutions, LLC, as Servicing Function Participant of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 34.6)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------

| | 34.14 | KeyBank National Association, as Primary Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 34.7)
| | ----- | -----------------------------------------------------------------------------------------------------------

| | 34.15 | KeyBank National Association, as Special Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 34.7)
| | ----- | -----------------------------------------------------------------------------------------------------------

| | 34.16 | Wells Fargo Bank, National Association, as Trustee of the Pearlridge Center Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ---------------------------------------------------------------------------------------------------------------------------

| | 34.17 | Wells Fargo Bank, National Association, as Custodian of the Pearlridge Center Mortgage Loan
| | ----- | -------------------------------------------------------------------------------------------

| | 34.18 | Computershare Trust Company, National Association, as Servicing Function Participant for the Custodian
| | ----- | ------------------------------------------------------------------------------------------------------

| | 34.19 | KeyBank National Association, as Primary Servicer of the Scottsdale Quarter Mortgage Loan (see Exhibit 34.7)
| | ----- | ------------------------------------------------------------------------------------------------------------

| | 34.20 | Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Scottsdale Quarter Mortgage Loan (Omitted.
See Explanatory Notes.)
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 34.21 | Wells Fargo Bank, National Association, as Trustee of the Scottsdale Quarter Mortgage Loan (Omitted. See Explanatory Notes.)
| | ----- | ----------------------------------------------------------------------------------------------------------------------------

| | 34.22 | Wells Fargo Bank, National Association, as Custodian of the Scottsdale Quarter Mortgage Loan (see Exhibit 34.17)
| | ----- | ----------------------------------------------------------------------------------------------------------------

| | 34.23 | Computershare Trust Company, National Association, as Servicing Function Participant for the Custodian (see Exhibit 34.18)
| | ----- | --------------------------------------------------------------------------------------------------------------------------

| | 35 | Servicer compliance statements.
| | -- | -------------------------------

| | 35.1 | Wells Fargo Bank, National Association, as Master Servicer
| | ---- | ----------------------------------------------------------

| | 35.2 | CWCapital Asset Management LLC, as Special Servicer
| | ---- | ---------------------------------------------------

| | 35.3 | Deutsche Bank Trust Company Americas, as Certificate Administrator
| | ---- | ------------------------------------------------------------------

| | 35.4 | KeyBank National Association, as Primary Servicer
| | ---- | -------------------------------------------------

| | 35.5 | Wells Fargo Bank, National Association, as Primary Servicer of the Heartland Industrial Portfolio Mortgage Loan (see Exhibit 35.1)
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------

| | 35.6 | LNR Partners, LLC, as Special Servicer of the Heartland Industrial Portfolio Mortgage Loan
| | ---- | ------------------------------------------------------------------------------------------

| | 35.7 | KeyBank National Association, as Primary Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 35.4)
| | ---- | -----------------------------------------------------------------------------------------------------------

| | 35.8 | KeyBank National Association, as Special Servicer of the Pearlridge Center Mortgage Loan (see Exhibit 35.4)
| | ---- | -----------------------------------------------------------------------------------------------------------

| | 35.9 | KeyBank National Association, as Primary Servicer of the Scottsdale Quarter Mortgage Loan (see Exhibit 35.4)
| | ---- | ------------------------------------------------------------------------------------------------------------

| | 35.10 | Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Scottsdale Quarter Mortgage Loan (Omitted.
See Explanatory Notes.)
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.1 | Mortgage Loan Purchase Agreement, dated as
of August 25, 2015, between Deutsche Mortgage & Asset Receiving Corporation and German American Capital Corporation (filed as Exhibit
99.1 to the registrant’s Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22 and incorporated
by reference herein)
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.2 | Mortgage Loan Purchase Agreement, dated as
of August 25, 2015, between Deutsche Mortgage & Asset Receiving Corporation and Cantor Commercial Real Estate Lending, L.P. (filed
as Exhibit 99.2 to the registrant’s Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22
and incorporated by reference herein)
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.3 | Mortgage Loan Purchase Agreement, dated as
of August 25, 2015, between Deutsche Mortgage & Asset Receiving Corporation and Silverpeak Real Estate Finance LLC (filed as Exhibit
99.3 to the registrant’s Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22 and incorporated
by reference herein)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.4 | Mortgage Loan Purchase Agreement, dated as
of August 25, 2015, between Deutsche Mortgage & Asset Receiving Corporation and KeyBank National Association (filed as Exhibit 99.4
to the registrant’s Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22 and incorporated
by reference herein)
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.5 | Mortgage Loan Purchase Agreement, dated as
of August 25, 2015, among Deutsche Mortgage & Asset Receiving Corporation, Ladder Capital Finance LLC, Ladder Capital Finance Holdings
LLLP, Series TRS of Ladder Capital Finance Holdings LLLP and Series REIT of Ladder Capital Finance Holdings LLLP (filed as Exhibit 99.5
to the registrant’s Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22 and incorporated
by reference herein)
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 99.6 | Primary Servicing Agreement, dated as of
August 1, 2015, between Wells Fargo Bank, National Association and KeyBank National Association (filed as Exhibit 99.6 to the registrant’s
Current Report on Form 8-K filed on August 25, 2015 under Commission File No. 333-193376-22 and incorporated by reference herein)
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(b)       The exhibits required to be
filed by the Registrant pursuant to Item 601 of Regulation S-K are listed above.

(c)       Not Applicable.







SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Deutsche Mortgage & Asset Receiving Corporation
(Depositor)

/s/ Helaine M. Kaplan

Helaine M. Kaplan, President

(senior officer in charge of securitization of the depositor)

Date: March 18, 2024

/s/ Matt Smith

Matt Smith, Director

Date: March 18, 2024