UNITED
STATESSECURITIES 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, 2019or



|☐ | 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: 333-201743-02

Central
Index Key Number of the issuing entity: 0001653542



Morgan
Stanley Bank of America Merrill Lynch Trust

2015-C25

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



Central
Index Key Number of the depositor: 0001005007

Banc
of America Merrill Lynch Commercial Mortgage Inc.

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



Central
Index Key Number of the sponsor: 0001102113

Bank
of America, National Association

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



Central
Index Key Number of the sponsor: 0001541557

Morgan
Stanley Mortgage Capital Holdings LLC

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



Central
Index Key Number of the sponsor: 0001548567

CIBC
Inc.



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



Central
Index Key Number of the sponsor: 0001682532

Starwood
Mortgage Funding III LLC

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



|New
York(State or other jurisdiction ofincorporation or organization of
the
issuing entity) | 38-3981653
38-3981654
38-3981655
(I.R.S.
Employer
Identification
Numbers)
|------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------



c/o
U.S. Bank National Association

as
Certificate Administrator

190
S. LaSalle Street

Chicago,
IL

(Address
of principal executive offices of the issuing entity)









60603

(Zip
Code)



Registrant’s
telephone number, including area code:

(646)
855-3953



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 and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted 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 and post such files).



Not
applicable.



Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not
contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.



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     | ☒ | (Do
                                       not check if a smaller reporting company) | 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 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.

2









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.








3







EXPLANATORY
NOTES



The
Herald Center Mortgage Loan and the 261 Fifth Avenue Mortgage Loan, which constituted approximately 9.8% and 9.3%, respectively,
of the asset pool of the issuing entity as of its cut-off date, are each an asset of the issuing entity and are each part of a
loan combination that includes (a) with respect to the Herald Center Mortgage Loan which is an asset of the issuing entity and
two other pari passu loans, which are not assets of the issuing entity and (b) with respect to the 261 Fifth Avenue Mortgage
Loan which is an asset of the issuing entity and one other pari passu loan, which is not an asset of the issuing entity.
These loan combinations, including the Herald Center Mortgage Loan and the 261 Fifth Avenue Mortgage Loan, are 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 Coastal Equities Retail Portfolio Mortgage Loan, which constituted approximately 5.1% of the asset pool of the issuing
entity as of its cut-off date.  The Coastal Equities Retail Portfolio Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the Coastal Equities Retail Portfolio Mortgage Loan and six other pari passu
loans, which are not assets of the issuing entity. A pari passu portion of the loan combination was securitized in the
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C24 transaction, Commission File Number 333-180779-18 (the “MSBAM
2015-C24 Transaction”). This loan combination, including the Coastal Equities Retail Portfolio Mortgage Loan, is being
serviced and administered pursuant to the pooling and servicing agreement for the MSBAM 2015-C24 Transaction, which is incorporated
by reference as Exhibit 4.2 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 Roosevelt New Orleans Waldorf Astoria Mortgage Loan, which constituted approximately 7.0% of the asset pool of the issuing
entity as of its cut-off date.  The Roosevelt New Orleans Waldorf Astoria Mortgage Loan is an asset of the issuing entity
and is part of a loan combination that includes the Roosevelt New Orleans Waldorf Astoria Mortgage Loan and two other pari
passu loans, which are not assets of the issuing entity. A pari passu portion of the loan combination was securitized
in the JPMBB Commercial Mortgage Securities Trust 2015-C31 transaction, Commission File Number 333-190246-16 (the “JPMBB
2015-C31 Transaction”). This loan combination, including the Roosevelt New Orleans Waldorf Astoria Mortgage Loan, is
being serviced and administered pursuant to the pooling and servicing agreement for the JPMBB 2015-C31 Transaction, which is incorporated
by reference as Exhibit 4.3 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 master servicer of the mortgage loans serviced under the Pooling and Servicing Agreement
and the primary servicer of the Coastal Equities Retail Portfolio Mortgage Loan. As a result, Wells Fargo Bank, National Association
is a “servicer” as defined in Item 1108(a)(2)(iii) of Regulation AB, in the capacities described above, because it
is servicing mortgage loans that constituted 10% or more of the assets of the issuing entity as of its cut-off date. The assessments
of compliance with applicable servicing criteria, accountants’ attestation reports and servicer compliance statements delivered
by Wells Fargo Bank, National Association in the capacities described above are listed in the Exhibit Index.



Midland
Loan Services, a Division of PNC Bank, National Association is the special servicer of the mortgage loans serviced under the Pooling
and Servicing Agreement and the Coastal Equities Retail Portfolio Mortgage Loan and the primary servicer of the Roosevelt New
Orleans Waldorf Astoria Mortgage Loan. As a result, Midland Loan Services, a Division of PNC Bank, National Association is a “servicer”
as defined in Item 1108(a)(2)(iii) of Regulation AB, in the capacities described above, because it is servicing mortgage loans
that constituted 10% or more of the assets of the issuing entity as of its cut-off date. The assessments of compliance with applicable
servicing criteria, accountants’ attestation reports and servicer compliance statements delivered by Midland Loan Services,
a Division of PNC Bank, National Association in the capacities described above are listed in the Exhibit Index.



Wilmington
Trust, National Association acts as trustee of the Coastal Equities Retail Portfolio Mortgage Loan.  Pursuant to the pooling
and servicing agreement for the MSBAM 2015-C24 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 Coast Equities Retail Portfolio Mortgage Loan have delivered one or more assessments of compliance with respect
to Item 1122(d)(2)(iii) of Regulation AB.



Wells
Fargo Bank, National Association acts as trustee of Roosevelt New Orleans Waldorf Astoria Mortgage Loan.  Pursuant to the
pooling and servicing agreement for the JPMBB 2015-C31 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 Roosevelt New Orleans Waldorf Astoria Mortgage Loan have delivered one or more assessments of compliance with
respect to Item 1122(d)(2)(iii) of Regulation AB.



4




This
Annual Report on Form 10-K includes assessments of compliance with applicable servicing criteria and accountants’ attestation
reports from CoreLogic Commercial Real Estate Services, Inc. and National Tax Search, LLC.  These entities were engaged by
the master servicer under the Pooling and Servicing Agreement and the primary servicer of the Coastal Equities Retail Portfolio
Mortgage Loan 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,
these vendors are “servicers” for the purposes of Item 1122 of Regulation AB.  See Compliance and Disclosure
Interpretations, Section 301.01 (Item 1101(j)).



The
assessments of compliance with applicable servicing criteria, accountants’ attestation reports and servicer compliance
statements of the certificate administrator of the Coastal Equities Retail Portfolio Mortgage Loan and the Roosevelt New Orleans
Waldorf Astoria Mortgage Loan listed on the Exhibit Index 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 Roosevelt New Orleans Waldorf Astoria Mortgage Loan, the servicer
compliance statement of Rialto Capital Advisors, LLC as special servicer of the Roosevelt New Orleans Waldorf Astoria 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 it is 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
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.  Selected Financial Data.



Omitted.



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



Omitted.



5




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.



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 Accounting Fees and Services.



Omitted.



ADDITIONAL
DISCLOSURE ITEMS FOR REGULATION AB



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



No
single obligor represents 10% or more of the pool assets held by the issuing entity.



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.



6




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 and as
custodian.



Beginning on June 18, 2014,
a group of institutional investors filed civil complaints in the Supreme Court of the State of New York, New York
County, and later the U.S. District Court for the Southern District of New York, against Wells Fargo Bank, N.A., (“Wells Fargo Bank”) in its
capacity as trustee for certain residential mortgage backed securities (“RMBS”) trusts. The complaints against Wells Fargo Bank alleged that the
trustee caused losses to investors and asserted causes of action based upon, among other things, the trustee's alleged failure to: (i) notify and enforce
repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, (ii) notify investors of alleged events of
default, and (iii) abide by appropriate standards of care following alleged events of default. Relief sought included money damages in an unspecified
amount, reimbursement of expenses, and equitable relief. In November 2018, Wells Fargo Bank reached an agreement, in which it denied any
wrongdoing, to resolve such claims on a classwide basis for the 271 RMBS trusts at issue. On May 6, 2019, the court entered an order approving the
settlement agreement. Separate lawsuits against Wells Fargo Bank making similar allegations filed by certain other institutional investors
concerning several RMBS trusts in New York federal and state court are not covered by the agreement. With respect to such litigations, Wells Fargo
Bank believes plaintiffs' claims are without merit and intends to contest the claims vigorously, but there can be no assurances as to the outcome of
the litigations or the possible impact of the litigations on Wells Fargo Bank or the RMBS trusts.



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 October 15, 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 X 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 Coastal Equities Retail Portfolio Mortgage Loan, which is being serviced and
administered pursuant to the pooling and servicing agreement for the MSBAM 2015-C24 Transaction, are attached hereto under Item
15 to this Annual Report on Form 10-K. Attached as Schedule X to the pooling and servicing agreement for the MSBAM 2015-C24 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 MSBAM 2015-C24 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 Roosevelt New Orleans Waldorf Astoria Mortgage Loan, which is being serviced
and administered pursuant to the pooling and servicing agreement for the JPMBB 2015-C31 Transaction, are attached hereto under
Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the pooling and servicing agreement for the JPMBB 2015-C31
Transaction incorporated by reference as Exhibit 4.3 to this Annual Report on Form 10-K is a chart identifying the entities participating
in a servicing function for the JPMBB 2015-C31 Transaction responsible for each applicable servicing criteria set forth in Item
1122(d).



The report on assessment of compliance with applicable servicing criteria furnished pursuant to Item 1122 of Regulation AB by Midland Loan
Services, a Division of PNC Bank National Association (“Midland”) discloses that a material instance of noncompliance occurred, as described below:



Material Instance of Noncompliance



| |  | In certain instances, the Schedule AL Files (Item 1125 of Regulation AB) were not reported in accordance with the terms specified in the
transaction agreements, in conflict with Item 1122(d)(3)(i): “Reports to investors, including those to be filed with the Commission, are
maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports: (A) Are
prepared in accordance with timeframes and other terms set forth in the transaction agreements”. The noncompliance consisted of omitted
or inaccurately reported fields as described in (1) and (2) below. (1) In connection with other enhancements Midland made to its manual
Schedule AL process, starting in April 2019, Midland developed and implemented new Schedule AL reporting templates for each
applicable CMBS transaction that closed prior to April 2019 and for each applicable CMBS transaction going forward. Related to this,
Midland made certain template setup errors, along with related and other manual inputting of information errors, and the errors were not
identified prior to submission of the applicable Schedule AL Files in certain cases due to breakdowns in quality control. (2) In one
applicable transaction, the related Schedule AL File for a given month was not saved properly resulting in the prior month's Schedule AL
File being submitted for the given month instead of the correct Schedule AL File.
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | The identified instances did not involve the servicing of assets included in this securitization.
| |  | -------------------------------------------------------------------------------------------------



Steps Taken to Remedy the Material Instance of Noncompliance



| |  | Midland’s Schedule AL reporting process was enhanced in April of 2019, however, the process remained manual throughout the 2019
calendar year. Errors relating to certain Schedule AL Files during 2019 were identified during the related audit. Following identification,
Midland made staffing changes and additional enhancements and improvements to its processes and procedures to support its Schedule AL
reporting obligations and expects to move to an automated solution for this process.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | Midland is currently remediating the Schedule AL reporting for certain of the CMBS transactions found to be incorrect.
| |  | ----------------------------------------------------------------------------------------------------------------------



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. Exhibits, 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 October 1, 2015, by and among Banc of America Merrill Lynch Commercial Mortgage Inc., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National
Association, as Special Servicer, Pentalpha Surveillance LLC, as Trust Advisor and U.S. Bank National Association, as Trustee,
Certificate Administrator, Certificate Registrar, Authenticating Agent and Custodian (filed as Exhibit 4.1 to the registrant’s
Current Report on Form 8-K filed on October 16, 2015 under Commission File No. 333-201743-02 and incorporated by reference herein).
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|4.2 | Pooling
and Servicing Agreement, dated as of August 1, 2015, by and among Morgan Stanley Capital I Inc., as Depositor, Wells Fargo Bank,
National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer,
Park Bridge Lender Services LLC, as Trust Advisor, Wilmington Trust, National Association, as Trustee, and Wells Fargo Bank, National
Association, as Certificate Administrator, Certificate Registrar, Authenticating Agent and Custodian (filed as Exhibit 4.3 to
the registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission File No. 333-201743-02 and incorporated
by reference herein).
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|4.3 | Pooling
and Servicing Agreement, dated as of August 1, 2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer, Midland Loan Services, a Division of
PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wells
Fargo Bank, National Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor (filed as Exhibit 4.2 to
the registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission File No. 333-201743-02 and incorporated
by reference herein).
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



7




|4.4 | Agreement
Between Noteholders, dated as of October 15, 2015, by and between Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note
A-1 Holder, and Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note A-2 Holder, and Morgan Stanley Mortgage Capital
Holdings LLC, as Initial Note A-3 Holder (filed as Exhibit 4.4 to the registrant’s Current Report on Form 8-K/A filed on
November 24, 2015 under Commission File No. 333-201743-02 and incorporated by reference herein).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|4.5 | Agreement
Between Note Holders, dated as of September 3, 2015, by and between Bank of America, N.A., as Initial Note A-1 Holder, and Bank
of America, N.A., as Initial Note A-2 Holder (filed as Exhibit 4.5 to the registrant’s Current Report on Form 8-K filed
on October 16, 2015 under Commission File No. 333-201743-02 and incorporated by reference herein).
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|4.6 | Agreement
Between Note Holders, dated as of July 17, 2015, by and between Barclays Bank PLC, as Initial Note A-1 Holder, and Morgan Stanley
Bank, N.A., as Initial Note A-2 Holder, and Morgan Stanley Bank, N.A., as Initial Note A-3 Holder (filed as Exhibit 4.6 to the
registrant’s Current Report on Form 8-K filed on October 16, 2015 under Commission File No. 333-201743-02 and incorporated
by reference herein).
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|4.7 | Agreement
Between Note Holders, dated as of July 24, 2015, by and between Morgan Stanley Bank, N.A., as Initial Note A-1 Holder, and Morgan
Stanley Bank, N.A., as Initial Note A-2 Holder (filed as Exhibit 4.7 to the registrant’s Current Report on Form 8-K filed
on October 16, 2015 under Commission File No. 333-201743-02 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  | Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer                                                                                  
|      |                                                                                                                                                                           
|33.3  | U.S.
    Bank National Association, as Trustee, Certificate Administrator and Custodian                                                                                   
|      |                                                                                                                                                                           
|33.4  | Pentalpha
    Surveillance LLC, as Trust Advisor                                                                                                                          
|      |                                                                                                                                                                           
|33.5  | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant                                                                                    
|      |                                                                                                                                                                           
|33.6  | National
    Tax Search, LLC, as Servicing Function Participant                                                                                                           
|      |                                                                                                                                                                           
|33.7  | Wells
    Fargo Bank, National Association, as Primary Servicer of the Herald Center Mortgage Loan (see Exhibit 33.1)                                                     
|      |                                                                                                                                                                           
|33.8  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Herald Center Mortgage Loan (see Exhibit
    33.2)                    
|      |                                                                                                                                                                           
|33.9  | U.S.
    Bank National Association, as Trustee and Custodian of the Herald Center Mortgage Loan (see Exhibit 33.3)                                                        
|      |                                                                                                                                                                           
|33.10 | Pentalpha
    Surveillance LLC, as Trust Advisor of the Herald Center Mortgage Loan (see Exhibit 33.4)                                                                    
|      |                                                                                                                                                                           
|33.11 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the Herald Center Mortgage Loan (see Exhibit 33.5)                              
|      |                                                                                                                                                                           
|33.12 | National
    Tax Search, LLC, as Servicing Function Participant of the Herald Center Mortgage Loan (see Exhibit 33.6)                                                     
|      |                                                                                                                                                                           
|33.13 | Wells
    Fargo Bank, National Association, as Primary Servicer of the 261 Fifth Avenue Mortgage Loan (see Exhibit 33.1)                                                  
|      |                                                                                                                                                                           
|33.14 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the 261 Fifth Avenue Mortgage Loan (see
    Exhibit 33.2)                 
|      |                                                                                                                                                                           
|33.15 | U.S.
    Bank National Association, as Trustee and Custodian of the 261 Fifth Avenue Mortgage Loan (see Exhibit 33.3)                                                     
|      |                                                                                                                                                                           
|33.16 | Pentalpha
    Surveillance LLC, as Trust Advisor of the 261 Fifth Avenue Mortgage Loan (see Exhibit 33.4)                                                                 
|      |                                                                                                                                                                           
|33.17 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the 261 Fifth Avenue Mortgage Loan (see Exhibit
    33.5)                       
|      |                                                                                                                                                                           
|33.18 | National
    Tax Search, LLC, as Servicing Function Participant of the 261 Fifth Avenue Mortgage Loan (see Exhibit 33.6)                                                  
|      |                                                                                                                                                                           
|33.19 | Wells
    Fargo Bank, National Association, as Primary Servicer of the Coastal Equities Retail Portfolio Mortgage Loan (see Exhibit
    33.1)                             
|      |                                                                                                                                                                           
|33.20 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Coastal Equities Retail Portfolio
    Mortgage Loan (see Exhibit 33.2)







8






|33.21 | Wilmington
    Trust, National Association, as Trustee of the Coastal Equities Retail Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)                               
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                               
|33.22 | Wells
    Fargo Bank, National Association, as Custodian of the Coastal Equities Retail Portfolio Mortgage Loan                                                               
|      |                                                                                                                                                                               
|33.23 | Park
    Bridge Lender Services LLC, as Trust Advisor of the Coastal Equities Retail Portfolio Mortgage Loan                                                                  
|      |                                                                                                                                                                               
|33.24 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the Coastal Equities Retail Portfolio Mortgage
    Loan (see Exhibit 33.5)          
|      |                                                                                                                                                                               
|33.25 | National
    Tax Search, LLC, as Servicing Function Participant of the Coastal Equities Retail Portfolio Mortgage Loan (see Exhibit 33.6)                                     
|      |                                                                                                                                                                               
|33.26 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of the Roosevelt New Orleans Waldorf Astoria
    Mortgage Loan (see Exhibit 33.2)
|      |                                                                                                                                                                               
|33.27 | Rialto
    Capital Advisors, LLC, as Special Servicer of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan                                                              
|      |                                                                                                                                                                               
|33.28 | Wells
    Fargo Bank, National Association, as Trustee of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (Omitted. See Explanatory
    Notes.)                       
|      |                                                                                                                                                                               
|33.29 | Wells
    Fargo Bank, National Association, as Custodian of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (see Exhibit 33.22)                                       
|      |                                                                                                                                                                               
|33.30 | Pentalpha
    Surveillance LLC, as Senior Trust Advisor of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (see Exhibit 33.4)                                         
|      |                                                                                                                                                                               
|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  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer                                                                                  
|      |                                                                                                                                                                               
|34.3  | U.S.
    Bank National Association, as Trustee, Certificate Administrator and Custodian                                                                                       
|      |                                                                                                                                                                               
|34.4  | Pentalpha
    Surveillance LLC, as Trust Advisor                                                                                                                              
|      |                                                                                                                                                                               
|34.5  | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant                                                                                        
|      |                                                                                                                                                                               
|34.6  | National
    Tax Search, LLC, as Servicing Function Participant                                                                                                               
|      |                                                                                                                                                                               
|34.7  | Wells
    Fargo Bank, National Association, as Primary Servicer of the Herald Center Mortgage Loan (see Exhibit 34.1)                                                         
|      |                                                                                                                                                                               
|34.8  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Herald Center Mortgage Loan (see Exhibit
    34.2)                        
|      |                                                                                                                                                                               
|34.9  | U.S.
    Bank National Association, as Trustee and Custodian of the Herald Center Mortgage Loan (see Exhibit 34.3)                                                            
|      |                                                                                                                                                                               
|34.10 | Pentalpha
    Surveillance LLC, as Trust Advisor of the Herald Center Mortgage Loan (see Exhibit 34.4)                                                                        
|      |                                                                                                                                                                               
|34.11 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the Herald Center Mortgage Loan (see Exhibit 34.5)                                  
|      |                                                                                                                                                                               
|34.12 | National
    Tax Search, LLC, as Servicing Function Participant of the Herald Center Mortgage Loan (see Exhibit 34.6)                                                         
|      |                                                                                                                                                                               
|34.13 | Wells
    Fargo Bank, National Association, as Primary Servicer of the 261 Fifth Avenue Mortgage Loan (see Exhibit 34.1)                                                      
|      |                                                                                                                                                                               
|34.14 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the 261 Fifth Avenue Mortgage Loan (see
    Exhibit 34.2)                     
|      |                                                                                                                                                                               
|34.15 | U.S.
    Bank National Association, as Trustee and Custodian of the 261 Fifth Avenue Mortgage Loan (see Exhibit 34.3)                                                         
|      |                                                                                                                                                                               
|34.16 | Pentalpha
    Surveillance LLC, as Trust Advisor of the 261 Fifth Avenue Mortgage Loan (see Exhibit 34.4)                                                                     
|      |                                                                                                                                                                               
|34.17 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the 261 Fifth Avenue Mortgage Loan (see Exhibit
    34.5)                           
|      |                                                                                                                                                                               
|34.18 | National
    Tax Search, LLC, as Servicing Function Participant of the 261 Fifth Avenue Mortgage Loan (see Exhibit 34.6)                                                      
|      |                                                                                                                                                                               
|34.19 | Wells
    Fargo Bank, National Association, as Primary Servicer of the Coastal Equities Retail Portfolio Mortgage Loan (see Exhibit
    34.1)                                 
|      |                                                                                                                                                                               
|34.20 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Coastal Equities Retail Portfolio
    Mortgage Loan (see Exhibit 34.2)    
|      |                                                                                                                                                                               
|34.21 | Wilmington Trust, National Association, as Trustee of the Coastal Equities Retail Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)                                   





9






|34.22 | Wells
    Fargo Bank, National Association, as Custodian of the Coastal Equities Retail Portfolio Mortgage Loan                                                               
|----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                                                               
|34.23 | Park
    Bridge Lender Services LLC, as Trust Advisor of the Coastal Equities Retail Portfolio Mortgage Loan                                                                  
|      |                                                                                                                                                                               
|34.24 | CoreLogic
    Commercial Real Estate Services, Inc., as Servicing Function Participant of the Coastal Equities Retail Portfolio Mortgage
    Loan (see Exhibit 34.5)          
|      |                                                                                                                                                                               
|34.25 | National
    Tax Search, LLC, as Servicing Function Participant of the Coastal Equities Retail Portfolio Mortgage Loan (see Exhibit 34.6)                                     
|      |                                                                                                                                                                               
|34.26 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of the Roosevelt New Orleans Waldorf Astoria
    Mortgage Loan (see Exhibit 34.2)
|      |                                                                                                                                                                               
|34.27 | Rialto
    Capital Advisors, LLC, as Special Servicer of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan                                                              
|      |                                                                                                                                                                               
|34.28 | Wells Fargo Bank,
    National Association, as Trustee of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (Omitted. See Explanatory Notes.)                           
|      |                                                                                                                                                                               
|34.29 | Wells
    Fargo Bank, National Association, as Custodian of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (see Exhibit 34.22)                                       
|      |                                                                                                                                                                               
|34.30 | Pentalpha
    Surveillance LLC, as Senior Trust Advisor of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (see Exhibit 34.4)                                         
|      |                                                                                                                                                                               
|35    | Servicer compliance
    statements.                                                                                                                                           
|      |                                                                                                                                                                               
|35.1  | Wells
    Fargo Bank, National Association, as Master Servicer                                                                                                                
|      |                                                                                                                                                                               
|35.2  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer                                                                                  
|      |                                                                                                                                                                               
|35.3  | U.S.
    Bank National Association, as Certificate Administrator                                                                                                              
|      |                                                                                                                                                                               
|35.4  | Wells
    Fargo Bank, National Association, as Primary Servicer of the Herald Center Mortgage Loan (see Exhibit 35.1)                                                         
|      |                                                                                                                                                                               
|35.5  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Herald Center Mortgage Loan (see Exhibit
    35.2)                        
|      |                                                                                                                                                                               
|35.6  | Wells
    Fargo Bank, National Association, as Primary Servicer of the 261 Fifth Avenue Mortgage Loan (see Exhibit 35.1)                                                      
|      |                                                                                                                                                                               
|35.7  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the 261 Fifth Avenue Mortgage Loan (see
    Exhibit 35.2)                     
|      |                                                                                                                                                                               
|35.8  | Wells
    Fargo Bank, National Association, as Primary Servicer of the Coastal Equities Retail Portfolio Mortgage Loan (see Exhibit 35.1)                                     
|      |                                                                                                                                                                               
|35.9  | Midland
    Loan Services, a Division of PNC Bank, National Association, as Special Servicer of the Coastal Equities Retail Portfolio
    Mortgage Loan (see Exhibit 35.2)    
|      |                                                                                                                                                                               
|35.10 | Midland
    Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of the Roosevelt New Orleans Waldorf Astoria
    Mortgage Loan (see Exhibit 35.2)
|      |                                                                                                                                                                               
|35.11 | Rialto Capital
    Advisors, LLC, as Special Servicer of the Roosevelt New Orleans Waldorf Astoria Mortgage Loan (Omitted. See Explanatory Notes.)                            



|99.1 | Mortgage
Loan Purchase Agreement, dated as of October 7, 2015, between Banc of America Merrill Lynch Commercial Mortgage Inc. and Bank
of America, National Association (filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K filed on October
16, 2015 under Commission File No. 333-201743-02 and incorporated by reference herein)
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|99.2 | Mortgage
Loan Purchase Agreement, dated as of October 7, 2015, between Banc of America Merrill Lynch Commercial Mortgage Inc. and Morgan
Stanley Mortgage Capital Holdings LLC (filed as Exhibit 99.2 to the registrant’s Current Report on Form 8-K/A filed on
November 24, 2015  under Commission File No. 333-201743-02 and incorporated by reference herein)
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|99.3 | Mortgage
Loan Purchase Agreement, dated as of October 7, 2015, between Banc of America Merrill Lynch Commercial Mortgage Inc. and CIBC
Inc. (filed as Exhibit 99.3 to the registrant’s Current Report on Form 8-K filed on October 16, 2015  under Commission
File No. 333-201743-02 and incorporated by reference herein)
|---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|99.4 | Mortgage
Loan Purchase Agreement, dated as of October 7, 2015, among Banc of America Merrill Lynch Commercial Mortgage Inc., Starwood Mortgage
Funding III LLC and Starwood Mortgage Capital LLC  (filed as Exhibit 99.4 to the registrant’s Current Report on Form
8-K filed on October 16, 2015 under Commission File No. 333-201743-02 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.



10




(c)   
Not Applicable.



11




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.



Banc
of America Merrill Lynch Commercial Mortgage Inc.(Depositor)



|/s/
Leland F. Bunch, III                                      | 
|------------------------------------------------------------- | 
|Leland
F. Bunch, III, President and Chief Executive Officer   | 
|(senior
officer in charge of securitization of the depositor) | 



Date:
March 23, 2020

12