**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,D.C. 20549**

**FORM 10‐K**

(Mark one)

**/X/ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**    For the fiscal year endedDecember 31, 2022OR**

**//TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**For the transition period from****            ****to****            **

 

 

 

**Commission file number:333-227446-11**

 

**Central Index Key Number of the issuing entity:****0001816861**

 

**Morgan Stanley Capital ITrust 2020-HR8**

**(exact name of issuing entity as specified in itscharter)**

 

**Central Index Key Number of the depositor:0001547361**

 

**Morgan Stanley Capital I Inc.**

**(exact name of the depositor as specified in itscharter)**

 

**Central Index Key Number of the sponsor:0001541557**

 

**Morgan Stanley MortgageCapital Holdings LLC**

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

 

**Central Index Key Number of the sponsor:0001624053**

 

**Argentic Real Estate FinanceLLC**

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

** **

**Central Index Key Number of the sponsor:0001548405**

 

**Starwood Mortgage Capital LLC**

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

 ** **

**Central Index Key Number of the sponsor:****0001549574**

 

**Barclays Capital Real EstateInc.**

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

 

| **New York**                                                        | **38-4149516**

**38-4149517**

**38-7250402** |
|---------------------------------------------------------------------|------------------------------------------------|
| **(State or other jurisdiction of incorporation or  organization)** | **(I.R.S. Employer Identification Numbers)**   |

 

**c/o Wells Fargo Bank, N.A.**

**9062 Old Annapolis Road**

** Columbia, MD**

**(Address of principal executive offices)**

 

**21045**

**(Zip Code)**

 

**Telephone number, including area code:**

**(410) 884‐2000**

Securitiesregistered pursuant to Section 12(b) of the Act:

  

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

 

Securitiesregistered pursuant to Section 12(g) of the Act:

 

  NONE.

 

Indicateby check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.

 

  Yes___ No X

 

Indicateby check mark if the registrant is not required to file reports pursuant toSection 13 or Section 15(d) of the Act.

 

  Yes___ No X

 

Note- Checking the box above will not relieve any registrant required to filereports pursuant to Section 13 or 15(d) of the Exchange Act from theirobligations under those Sections.

 

Indicate by check mark whether the registrant (1) has filed all reportsrequired to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days.

 

  YesX No ___

 

Indicateby check mark whether the registrant has submitted electronically everyInteractive Data File required to be submitted pursuant to Rule 405 ofRegulation 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 suchfiles).

 

 Not applicable.

  

Indicateby check mark whether the registrant is a large accelerated filer, anaccelerated filer, a non-accelerated filer, a smaller reporting company, oremerging growth company. See the definitions of "large acceleratedfiler", "accelerated filer," "smaller reportingcompany," and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 Largeaccelerated filer ___ Accelerated filer ___ Non-accelerated filer X (Do not check if a smaller reporting company)Smaller reporting company ___

 

Emerginggrowth company ___

 

Ifan emerging growth company, indicate by check mark if the registrant haselected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) ofthe Ex­change Act.

 

  Notapplicable.

 

Indicateby check mark whether the registrant has filed a report on and attestation toits management’s assessment of the effectiveness of its internal control overfinancial 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 itsaudit report.

 

Notapplicable.

 

If securities are registered pursuant to Section 12(b)of the Act, indicate by check mark whether the financial statements of the

registrantincluded in the filing reflect the correction of an error to previously issuedfinancial statements.

 

Not applicable.

 

Indicateby check mark whether any of those error corrections are restatements thatrequired a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b).

 

Not applicable.

 

Indicateby check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).

 

  Yes___ No X

 

Statethe aggregate market value of the voting and non-voting common equity held bynon-affiliates computed by reference to the price at which the common equitywas last sold, or the average bid and asked price of such common equity, as ofthe last business day of the registrant's most recently completed second fiscalquarter.

 

  Notapplicable.

 

Indicateby check mark whether the registrant has filed all documents and reportsrequired to be filed by Section 12, 13 or 15(d) of the Securities Exchange Actof 1934 subsequent to the distribution of securities under a plan confirmed bya court.

 

  Notapplicable.

 

Indicatethe number of shares outstanding of each of the registrant's classes of commonstock, as of the latest practicable date.

 

  Notapplicable.

 

DOCUMENTSINCORPORATED BY REFERENCE

 

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

 

  Notapplicable.

 

**EXPLANATORY NOTES**

 

The MSC 2020-HR8 mortgage pool includes thefollowing mortgage loans, each of which is serviced pursuant to a separatepooling and servicing agreement (each, an “Outside Pooling and ServicingAgreement”):

 

•   the 525 Market Street mortgageloan, which is serviced pursuant to the MKT 2020-525M trust and servicingagreement attached hereto as Exhibit 4.2;

 

•   the Bellagio Hotel and Casinomortgage loan, which is serviced pursuant to the BX 2019-OC11 trust andservicing agreement attached hereto as Exhibit 4.3;

 

•   the Bushwick MultifamilyPortfolio mortgage loan, which is serviced pursuant to the WFCM 2020-C56pooling and servicing agreement attached hereto as Exhibit 4.4; and

 

•   the Ralph Lauren HQ NewJersey mortgage loan, which is serviced pursuant to the BANK 2020-BNK27 poolingand servicing agreement attached hereto as Exhibit 4.5.

 

Except as set forth below, each of theparties to each pooling and servicing agreement listed in the Exhibit Indexboth (1) participates in the servicing function for purposes of Item 1122 ofRegulation AB and (2) constitutes a servicer that meets the criteria in Item1108(a)(2)(i) through (iii) of Regulation AB for purposes of Item 1123 ofRegulation AB:

 

•   The trustee under a poolingand servicing agreement has a nominal role with respect to the mortgage poolsecuritized pursuant to such pooling and servicing agreement.  Thetrustee’s only servicing function is the contingent obligation to make certainadvances if the master servicer under such pooling and servicing agreementfails to do so, while all other servicing functions are performed by otherparties.  The trustee under each of the pooling and servicing agreementslisted in the Exhibit Index has confirmed to the registrant that it has notmade any such contingent advances during the reporting period, andconsequently, each such trustee does not participate in the servicing functionfor purposes of Item 1122 of Regulation AB, nor does it perform the functionsof a servicer for purposes of the definition of “servicer” under Item 1101 ofRegulation AB or for purposes of Item 1123 of Regulation AB.

 

•   The certificate administratorunder a pooling and servicing agreement performs various payment administrationfunctions solely for the securitization governed by such pooling and servicingagreement and the mortgage pool securitized pursuant to such pooling andservicing agreement and does not have any obligations with respect to any othertransaction.  Consequently, the certificate administrator under an OutsidePooling and Servicing Agreement does not participate in the servicing functionfor purposes of Item 1122 of Regulation AB, nor does it perform the functionsof a servicer for purposes of the definition of “servicer” under Item 1101 of RegulationAB or for purposes of Item 1123 of Regulation AB.

 

•   The operating advisor under apooling and servicing agreement represents the interests of seniorcertificateholders in the transaction governed by such pooling and servicingagreement and is responsible for monitoring the performance of the specialservicer under such pooling and servicing agreement and producing certainreports to certificateholders relating to the resolution of the mortgage poolsecuritized pursuant to such pooling and servicing agreement.  Theoperating advisor under a pooling and servicing agreement does not have anyobligations with respect to any other transaction and is solely obligated toperform loan reporting functions with respect to the securitization governed bysuch pooling and servicing agreement.  Consequently, the operating advisorunder an Outside Pooling and Servicing Agreement neither participates in theservicing function for purposes of Item 1122 of Regulation AB nor performs thefunctions of a servicer for purposes of the definition of “servicer” under Item1101 of Regulation AB or for purposes of Item 1123 of Regulation AB.  Inaddition, while the operating advisor under a pooling and servicing agreementhas certain reporting obligations in respect of the related mortgage pool, ithas no obligation to collect or disburse funds in respect of the mortgage poolor to administer any of the underlying mortgage loans.  Consequently, theoperating advisor under a pooling and servicing agreement participates in theservicing function for purposes of Item 1122 of Regulation AB, but is notresponsible for the “management or collection of the pool assets or makingallocations or distributions to holders of the asset-backed securities” withinthe meaning of “servicer” under Item 1101 of Regulation AB and does not performthe functions of a servicer for purposes of Item 1123 of Regulation AB. 

 

•   The asset representations reviewer under a poolingand servicing agreement has a limited obligation to review certain delinquentmortgage loans after a specified delinquency threshold has been met and therequired percentage of certificateholders vote to direct a review of suchdelinquent mortgage loans, and has no obligation to collect or disburse fundsin respect of the mortgage pool, to administer any of the underlying mortgageloans or to perform any servicing function.  Consequently, the assetrepresentations reviewer under a pooling and servicing agreement does notparticipate in the servicing function for purposes of Item 1122 of RegulationAB, is not responsible for the “management or collection of the pool assets ormaking allocations or distributions to holders of the asset-backed securities”within the meaning of “servicer” under Item 1101 of Regulation AB and does notperform the functions of a servicer for purposes of Item 1123 of Regulation AB.

•  KeyBank National Associationis the servicer under the BX 2019-OC11 trust and servicing agreement, pursuantto which the Bellagio Hotel and Casino mortgage loan is serviced.  BecauseKeyBank National Association is not the MSC2020-HR8 master servicer, is not affiliated with any sponsor and services onlythe Bellagio Hotel and Casino mortgage loan, which constitutes more than 5% butless than 10% of the mortgage pool, KeyBank National Association, as BX 2019-OC11 servicer, constitutes a reporting“servicing function participant” for purposes of Item 1122 of Regulation AB, asspecified in the Instruction 3 to Item 1122, but does not constitute areporting “servicer” for purposes of Item 1123 of Regulation AB, as specifiedin the Instruction to Item 1123.

 

•   CWCapital Asset ManagementLLC is the special servicer under the BANK 2020-BNK27 pooling and servicing agreement,pursuant to which the Ralph Lauren HQ New Jersey mortgage loan isserviced.  Because CWCapital Asset Management LLC is not the MSC 2020-HR8special servicer, is not affiliated with any sponsor and services only theRalph Lauren HQ New Jersey mortgage loan, which constitutes less than 5% of themortgage pool, CWCapital Asset Management LLC, as BANK 2020-BNK27 specialservicer, does not constitute a reporting “servicing function participant” forpurposes of Item 1122 of Regulation AB, as specified in the Instruction 3 toItem 1122, and does not constitute a reporting “servicer” for purposes of Item1123 of Regulation AB, as specified in the Instruction to Item 1123.

 

In addition, each of the following partiesengaged the services of certain servicing function participants andsub-servicers for the reporting period, as set forth below:

 

•   Wells Fargo Bank, NationalAssociation, as master servicer, engaged the services of CoreLogic Solutions,LLC as a servicing function participant in respect of the entire mortgage poolfor the reporting period.

 

•   Wells Fargo Bank, NationalAssociation, as servicer under the MKT 2020-525M trust and servicing agreement,pursuant to which the 525 Market Street mortgage loan is serviced, engaged theservices of CoreLogic Solutions, LLC as a servicing function participant inrespect of the 525 Market Street mortgage loan for the reporting period.

 

•   Wells Fargo Bank, NationalAssociation, as master servicer under the WFCM 2020-C56 pooling and servicingagreement, pursuant to which the Bushwick Multifamily Portfolio mortgage loanis serviced, engaged the services of CoreLogic Solutions, LLC as a servicingfunction participant in respect of the Bushwick Multifamily Portfolio mortgageloan for the reporting period.

 

•   Wells Fargo Bank, NationalAssociation, as master servicer under the BANK 2020-BNK27 pooling and servicingagreement, pursuant to which the Ralph Lauren HQ New Jersey mortgage loan isserviced, engaged the services of CoreLogic Solutions, LLC as a servicingfunction participant in respect of the Ralph Lauren HQ New Jersey mortgage loanfor the reporting period.

 

•   On November 1, 2021, pursuantto the second amended and restated servicing agreement attached hereto asExhibit 99.11, Computershare Trust Company, National Association was engaged toperform all or virtually all of Wells Fargo Bank, National Association’s rolesas certificate administrator, custodian and trustee, as applicable, under (i)the pooling and servicing agreement and (ii) each Outside Pooling and ServicingAgreement.

 

| **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.**    |
|              | Omitted.                        |
|              |                            |   |

 

| **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.                                                                                             |
|              |                                                                                                 |   |

 

**ADDITIONALDISCLOSURE ITEMS FOR REGULATION AB**

 

**Item1112(b) of Regulation AB, Significant Obligor Financial Information.**

 

Notapplicable.

 

**Item1114(b)(2) of Regulation AB, Significant Enhancement Provider FinancialInformation.**

 

Noentity or group of affiliated entities provides any enhancement or othersupport for the certificates as described under Item 1114 (a) of Regulation AB.

 

**Item1115(b) of Regulation AB, Certain Derivatives Instruments (FinancialInformation).**

 

Noentity or group of affiliated entities provides any derivative instruments forthe certificates as described under Item 1115 of Regulation AB.

 

**Item1117 of Regulation AB, Legal Proceedings.**

 

Theregistrant knows of no legal proceeding pending against the sponsors,depositor, trustee, issuing entity, servicer contemplated by Item 1108(a)(3) ofRegulation AB, originator contemplated by Item 1110(b) of Regulation AB, or otherparty contemplated by Item 1100(d)(1) of Regulation AB, or of which anyproperty of the foregoing is the subject, that is material to security holders,other than as follows:

 

InDecember 2014, Phoenix Light SF Limited (Phoenix Light) and certain relatedentities filed a complaint in the United States District Court for the SouthernDistrict of New York alleging claims against Wells Fargo Bank, N.A., in itscapacity as trustee for a number of residential mortgage-backed securities(RMBS) trusts. Complaints raising similar allegations have been filed byCommerzbank AG in the Southern District of New York and by IKB Internationaland IKB Deutsche Industriebank in New York state court. In each case, theplaintiffs allege that Wells Fargo Bank, N.A., as trustee, caused losses toinvestors, and plaintiffs assert causes of action based upon, among otherthings, the trustee’s alleged failure to notify and enforce repurchaseobligations of mortgage loan sellers for purported breaches of representationsand warranties, notify investors of alleged events of default, and abide byappropriate standards of care following alleged events of default. In July2022, the district court dismissed Phoenix Light’s claims and certain of theclaims asserted by Commerzbank AG, and subsequently entered judgment in eachcase in favor of Wells Fargo Bank, N.A. In August 2022, Phoenix Light andCommerzbank AG appealed the district court’s decision to the United StatesCourt of Appeals for the Second Circuit. Wells Fargo Bank, N.A. previouslysettled two class actions filed by institutional investors and an action filedby the National Credit Union Administration with similar allegations. Inaddition, Park Royal I LLC and Park Royal II LLC have filed substantiallysimilar lawsuits in New York state court alleging Wells Fargo Bank, N.A., astrustee, failed to take appropriate actions upon learning of defective mortgageloan documentation.

  

**Item1119 of Regulation AB, Affiliations and Certain Relationships and RelatedTransactions.**

 

Theinformation regarding this Item has been provided previously in an annualreport on Form 10-K of the issuing entity or in the prospectus of the issuingentity filed in a 424(b)(2) filing dated July 31, 2020.

 

**Item1122 of Regulation AB, Compliance with Applicable Servicing Criteria.**

 

Thereports on assessment of compliance with the servicing criteria forasset-backed securities and the related attestation reports on such assessmentsof compliance are attached hereto under Item 15.

 

Thereport on assessment of compliance with applicable servicing criteria furnishedpursuant to Item 1122 of Regulation AB by KeyBank National Associationdiscloses that a material instance of noncompliance occurred, as describedbelow:

 

KeyBankNational Association (KeyBank) has identified the following material instanceof noncompliance with servicing criteria 1122(d)(4)(ix) during the calendaryear ended December 31, 2022, with respect to the Platform. The materialinstance of noncompliance does not relate to KeyBank’s performance under anypooling and servicing agreement applicable to the securitization transactionthat is the subject of this Form 10-K.

 

1)Servicing Criteria impacted 

 

1122(d)(4)(ix) –Adjustments to interest rates or ratesof return for pool assets with variable rates are computed based on the relatedpool asset documents. 

 

2)Material Instance of Noncompliance with Servicing Criteria

 

During compliance testing, it was discovered, that not allFlexARM loan mortgagors were offered loan rates within 45-60 days before therate change date, as required per the related pool asset documents. Per theNote, if the holder fails to offer a loan rate within 45-60 days of any changedate a margin of 2.25% is to be used. Given the notification was not made tothe borrowers, a 3% margin was incorrectly applied. The noncompliance in Item1122 (d)(4)(ix) is related to a servicing portfolio which is wholly owned bythe investor and is not held in a publicly traded security. 

 

3)Remediation

 

The following remediation procedures have beeninitiated by KeyBank: (i) the impacted mortgage loans are currently in theprocess of being identified, (ii) investor contact has been initiated, (iii)corrective actions are being considered and will be tracked and monitored bysenior management, (iv) procedures will be reviewed and revised, if necessary,to include new tracking and action steps to prevent this situation fromrecurring in the future, and (v) training will be provided to the relevantstaff members to prevent a recurrence.

 

**Item1123 of Regulation AB, Servicer Compliance Statement.**

 

Theservicer compliance statements are attached hereto under Item 15.

 

**PART IV**

 

**Item15. Exhibits, Financial Statement Schedules.**

 

(a) Exhibits.

 

(4.1)Pooling and Servicing Agreement, dated as of July 1, 2020, between MorganStanley Capital I Inc., as depositor, Wells Fargo Bank, National Association,as master servicer, Midland Loan Services, a Division of PNC Bank, NationalAssociation, as special servicer, Wells Fargo Bank, National Association, ascertificate administrator, Wilmington Trust, National Association, as trustee,and Park Bridge Lender Services LLC, as operating advisor and as assetrepresentations reviewer (filed as Exhibit 4.1 to the registrant's CurrentReport on Form 8-K/A filed on January 29, 2021 under SEC File No. 333-227446-11and incorporated by reference herein).

 

(4.2)Trust and Servicing Agreement, dated as of February 26, 2020, between BarclaysCommercial Mortgage Securities LLC, as depositor, Wells Fargo Bank, NationalAssociation, as servicer, Situs Holdings, LLC, as special servicer, Wells FargoBank, National Association, as certificate administrator and custodian, andWilmington Trust, National Association, as trustee, relating to the MKT2020-525M securitization transaction, pursuant to which the 525 Market StreetMortgage Loan is serviced (filed as Exhibit 4.2 to the registrant's CurrentReport on Form 8-K filed on July 31, 2020 under SEC File No. 333-227446-11 andincorporated by reference herein).

 

(4.3)Trust and Servicing Agreement, dated as of December 1, 2019, between MorganStanley Capital I Inc., as depositor, KeyBank National Association, asservicer, Situs Holdings, LLC, as special servicer, Wells Fargo Bank, NationalAssociation, as certificate administrator and trustee, and Park Bridge LenderServices LLC, as operating advisor, relating to the BX 2019-OC11 securitizationtransaction, pursuant to which the Bellagio Hotel and Casino Mortgage Loan isserviced (filed as Exhibit 4.3 to the registrant's Current Report on Form 8-Kfiled on July 31, 2020 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(4.4)Pooling and Servicing Agreement, dated as of June 1, 2020, between Wells FargoCommercial Mortgage Securities, Inc., as depositor, Wells Fargo Bank, National Association,as master servicer, Midland Loan Services, a Division of PNC Bank, NationalAssociation, as special servicer, Wells Fargo Bank, National Association, ascertificate administrator, Wilmington Trust, National Association, as trustee,and Pentalpha Surveillance LLC, as operating advisor and asset representationsreviewer, relating to the WFCM 2020-C56 securitization transaction, pursuant towhich the Bushwick Multifamily Portfolio Mortgage Loan is serviced (filed asExhibit 4.4 to the registrant's Current Report on Form 8-K filed on July 31,2020 under SEC File No. 333-227446-11 and incorporated by reference herein).

 

(4.5)Pooling and Servicing Agreement, dated as of June 1, 2020, between Banc ofAmerica Merrill Lynch Commercial Mortgage Inc., as depositor, Wells Fargo Bank,National Association, as master servicer, CWCapital Asset Management LLC, asspecial servicer, Wells Fargo Bank, National Association, as certificateadministrator, Wilmington Trust, National Association, as trustee, and ParkBridge Lender Services LLC, as operating advisor and asset representationsreviewer, relating to the BANK 2020-BNK27 securitization transaction, pursuant towhich the Ralph Lauren HQ New Jersey Mortgage Loan is serviced (filed asExhibit 4.5 to the registrant's Current Report on Form 8-K filed on July 31,2020 under SEC File No. 333-227446-11 and incorporated by referenceherein). 

 

(31)  )  Rule13a-14(d)/15d-14(d) Certification.

 

(33)  Reports onassessment of compliance with servicing criteria for asset-backed securities.

 

33.1 Wells Fargo Bank, National Association, as CertificateAdministrator

 

33.2 Computershare Trust Company, National Association, asServicing Function Participant for the Certificate Administrator

 

33.3 Wells Fargo Bank, National Association, as Custodian

 

33.4 Computershare Trust Company, National Association, asServicing Function Participant for the Custodian

 

33.5 Wells Fargo Bank, National Association, as MasterServicer

 

33.6 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer

 

33.7 Park Bridge Lender Services LLC, as Operating Advisor

 

33.8 CoreLogic Solutions, LLC, as Servicing FunctionParticipant

 

33.9 Wells Fargo Bank, National Association, as MasterServicer under the MKT 2020-525M securitization, pursuant to which the followingmortgage loans were serviced by such party: 525 Market Street (from 1/1/22 to12/31/22) (see exhibit 33.5)

 

33.10 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the MKT 2020-525M securitization, pursuant to which thefollowing mortgage loans were serviced by such party: 525 Market Street (from1/1/22 to 12/31/22) (see exhibit 33.8)

 

33.11 KeyBank National Association, as Master Servicerunder the BX 2019-OC11 securitization, pursuant to which the following mortgageloans were serviced by such party: Bellagio Hotel and Casino (from 1/1/22 to12/31/22)

 

33.12 Wells Fargo Bank, National Association, as MasterServicer under the WFCM 2020-C56 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Bushwick MultifamilyPortfolio (from 1/1/22 to 12/31/22) (see exhibit 33.5)

 

33.13 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the WFCM 2020-C56 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Bushwick MultifamilyPortfolio (from 1/1/22 to 12/31/22) (see exhibit 33.8)

 

33.14 Wells Fargo Bank, National Association, as MasterServicer under the BANK 2020-BNK27 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Ralph Lauren HQ NewJersey (from 1/1/22 to 12/31/22) (see exhibit 33.5)

 

33.15 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the BANK 2020-BNK27 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Ralph Lauren HQ NewJersey (from 1/1/22 to 12/31/22) (see exhibit 33.8)

 

33.16 Situs Holdings, LLC, as Special Servicer under theMKT 2020-525M securitization, pursuant to which the following mortgage loanswere serviced by such party: 525 Market Street (from 1/1/22 to 12/31/22)

 

33.17 Situs Holdings, LLC, as Special Servicer under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/22 to 12/31/22)(see exhibit 33.16)

 

33.18 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer under the WFCM 2020-C56securitization, pursuant to which the following mortgage loans were serviced bysuch party: Bushwick Multifamily Portfolio (from 1/1/22 to 12/31/22) (seeexhibit 33.6)

 

33.19 Wells Fargo Bank, National Association, as Custodianunder the MKT 2020-525M securitization, pursuant to which the followingmortgage loans were serviced by such party: 525 Market Street (from 1/1/22 to12/31/22) (see exhibit 33.3)

 

33.20 Computershare Trust Company, National Association, asServicing Function Participant under the MKT 2020-525M securitization, pursuantto which the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/22 to 12/31/22) (see exhibit 33.4)

 

33.21 Wells Fargo Bank, National Association, as Custodianunder the BX 2019-OC11 securitization, pursuant to which the following mortgageloans were serviced by such party: Bellagio Hotel and Casino (from 1/1/22 to12/31/22) (see exhibit 33.3)

 

33.22  Computershare Trust Company, National Association, asServicing Function Participant under the BX 2019-OC11 securitization, pursuantto which the following mortgage loans were serviced by such party: BellagioHotel and Casino (from 1/1/22 to 12/31/22) (see exhibit 33.4)

 

33.23 Wells Fargo Bank, National Association, as Custodianunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/22 to 12/31/22) (see exhibit 33.3)

 

33.24  Computershare Trust Company, National Association, asServicing Function Participant under the WFCM 2020-C56 securitization, pursuantto which the following mortgage loans were serviced by such party: BushwickMultifamily Portfolio (from 1/1/22 to 12/31/22) (see exhibit 33.4)

 

33.25 Wells Fargo Bank, National Association, as Custodianunder the BANK 2020-BNK27 securitization, pursuant to which the followingmortgage loans were serviced by such party: Ralph Lauren HQ New Jersey (from1/1/22 to 12/31/22) (see exhibit 33.3)

 

33.26  Computershare Trust Company, National Association, asServicing Function Participant under the BANK 2020-BNK27 securitization,pursuant to which the following mortgage loans were serviced by such party:Ralph Lauren HQ New Jersey (from 1/1/22 to 12/31/22) (see exhibit 33.4)

 

(34). Attestation reports onassessment of compliance with servicing criteria for asset-backed securities.

 

34.1 Wells Fargo Bank, National Association, as CertificateAdministrator

 

34.2 Computershare Trust Company, National Association, asServicing Function Participant for the Certificate Administrator

 

34.3 Wells Fargo Bank, National Association, as Custodian

 

34.4 Computershare Trust Company, National Association, asServicing Function Participant for the Custodian

 

34.5 Wells Fargo Bank, National Association, as MasterServicer

 

34.6 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer

 

34.7 Park Bridge Lender Services LLC, as Operating Advisor

 

34.8 CoreLogic Solutions, LLC, as Servicing FunctionParticipant

 

34.9 Wells Fargo Bank, National Association, as MasterServicer under the MKT 2020-525M securitization, pursuant to which thefollowing mortgage loans were serviced by such party: 525 Market Street (from1/1/22 to 12/31/22) (see exhibit 34.5)

 

34.10 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the MKT 2020-525M securitization, pursuant to which thefollowing mortgage loans were serviced by such party: 525 Market Street (from1/1/22 to 12/31/22) (see exhibit 34.8)

 

34.11 KeyBank National Association, as Master Servicerunder the BX 2019-OC11 securitization, pursuant to which the following mortgageloans were serviced by such party: Bellagio Hotel and Casino (from 1/1/22 to12/31/22)

 

34.12 Wells Fargo Bank, National Association, as MasterServicer under the WFCM 2020-C56 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Bushwick MultifamilyPortfolio (from 1/1/22 to 12/31/22) (see exhibit 34.5)

 

34.13 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the WFCM 2020-C56 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Bushwick MultifamilyPortfolio (from 1/1/22 to 12/31/22) (see exhibit 34.8)

 

34.14 Wells Fargo Bank, National Association, as MasterServicer under the BANK 2020-BNK27 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Ralph Lauren HQ NewJersey (from 1/1/22 to 12/31/22) (see exhibit 34.5)

 

34.15 CoreLogic Solutions, LLC, as Servicing FunctionParticipant under the BANK 2020-BNK27 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Ralph Lauren HQ NewJersey (from 1/1/22 to 12/31/22) (see exhibit 34.8)

 

34.16 Situs Holdings, LLC, as Special Servicer under theMKT 2020-525M securitization, pursuant to which the following mortgage loanswere serviced by such party: 525 Market Street (from 1/1/22 to 12/31/22)

 

34.17 Situs Holdings, LLC, as Special Servicer under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/22 to 12/31/22)(see exhibit 34.16)

 

34.18 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer under the WFCM 2020-C56securitization, pursuant to which the following mortgage loans were serviced bysuch party: Bushwick Multifamily Portfolio (from 1/1/22 to 12/31/22) (seeexhibit 34.6)

 

34.19 Wells Fargo Bank, National Association, as Custodianunder the MKT 2020-525M securitization, pursuant to which the followingmortgage loans were serviced by such party: 525 Market Street (from 1/1/22 to12/31/22) (see exhibit 34.3)

 

34.20 Computershare Trust Company, National Association, asServicing Function Participant under the MKT 2020-525M securitization, pursuantto which the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/22 to 12/31/22) (see exhibit 34.4)

 

34.21 Wells Fargo Bank, National Association, as Custodianunder the BX 2019-OC11 securitization, pursuant to which the following mortgageloans were serviced by such party: Bellagio Hotel and Casino (from 1/1/22 to12/31/22) (see exhibit 34.3)

 

34.22  Computershare Trust Company, National Association, asServicing Function Participant under the BX 2019-OC11 securitization, pursuantto which the following mortgage loans were serviced by such party: BellagioHotel and Casino (from 1/1/22 to 12/31/22) (see exhibit 34.4)

 

34.23 Wells Fargo Bank, National Association, as Custodianunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/22 to 12/31/22) (see exhibit 34.3)

 

34.24  Computershare Trust Company, National Association, asServicing Function Participant under the WFCM 2020-C56 securitization, pursuantto which the following mortgage loans were serviced by such party: BushwickMultifamily Portfolio (from 1/1/22 to 12/31/22) (see exhibit 34.4)

 

34.25 Wells Fargo Bank, National Association, as Custodianunder the BANK 2020-BNK27 securitization, pursuant to which the followingmortgage loans were serviced by such party: Ralph Lauren HQ New Jersey (from1/1/22 to 12/31/22) (see exhibit 34.3)

 

34.26  Computershare Trust Company, National Association, asServicing Function Participant under the BANK 2020-BNK27 securitization, pursuantto which the following mortgage loans were serviced by such party: Ralph LaurenHQ New Jersey (from 1/1/22 to 12/31/22) (see exhibit 34.4)

 

(35). Servicer compliancestatement.

 

35.1 Wells Fargo Bank, National Association, as CertificateAdministrator

 

35.2 Computershare Trust Company, National Association, asServicing Function Participant for the Certificate Administrator

 

35.3 Wells Fargo Bank, National Association, as Custodian

 

35.4 Computershare Trust Company, National Association, asServicing Function Participant for the Custodian

 

35.5 Wells Fargo Bank, National Association, as MasterServicer

 

35.6 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer

 

35.7 Wells Fargo Bank, National Association, as MasterServicer under the MKT 2020-525M securitization, pursuant to which thefollowing mortgage loans were serviced by such party: 525 Market Street (from1/1/22 to 12/31/22) (see exhibit 35.5)

 

35.8 Wells Fargo Bank, National Association, as MasterServicer under the WFCM 2020-C56 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Bushwick MultifamilyPortfolio (from 1/1/22 to 12/31/22) (see exhibit 35.5)

 

35.9 Wells Fargo Bank, National Association, as MasterServicer under the BANK 2020-BNK27 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: Ralph Lauren HQ NewJersey (from 1/1/22 to 12/31/22) (see exhibit 35.5)

 

35.10 Situs Holdings, LLC, as Special Servicer under theMKT 2020-525M securitization, pursuant to which the following mortgage loanswere serviced by such party: 525 Market Street (from 1/1/22 to 12/31/22)

 

35.11 Situs Holdings, LLC, as Special Servicer under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/22 to 12/31/22)(see Exhibit 35.10)

 

35.12 Midland Loan Services, a Division of PNC Bank,National Association, as Special Servicer under the WFCM 2020-C56securitization, pursuant to which the following mortgage loans were serviced bysuch party: Bushwick Multifamily Portfolio (from 1/1/22 to 12/31/22) (seeexhibit 35.6)

 

35.13 Wells Fargo Bank, National Association, as Custodianunder the MKT 2020-525M securitization, pursuant to which the followingmortgage loans were serviced by such party: 525 Market Street (from 1/1/22 to12/31/22) (see exhibit 35.3)

 

35.14 Computershare Trust Company, National Association, asServicing Function Participant under the MKT 2020-525M securitization, pursuantto which the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/22 to 12/31/22) (see exhibit 35.4)

 

35.15 Wells Fargo Bank, National Association, as Custodianunder the BX 2019-OC11 securitization, pursuant to which the following mortgageloans were serviced by such party: Bellagio Hotel and Casino (from 1/1/22 to12/31/22) (see exhibit 35.3)

 

35.16  Computershare Trust Company, National Association, asServicing Function Participant under the BX 2019-OC11 securitization, pursuantto which the following mortgage loans were serviced by such party: BellagioHotel and Casino (from 1/1/22 to 12/31/22) (see exhibit 35.4)

 

35.17 Wells Fargo Bank, National Association, as Custodianunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/22 to 12/31/22) (see exhibit 35.3)

 

35.18  Computershare Trust Company, National Association, asServicing Function Participant under the WFCM 2020-C56 securitization, pursuantto which the following mortgage loans were serviced by such party: BushwickMultifamily Portfolio (from 1/1/22 to 12/31/22) (see exhibit 35.4)

 

35.19 Wells Fargo Bank, National Association, as Custodianunder the BANK 2020-BNK27 securitization, pursuant to which the following mortgageloans were serviced by such party: Ralph Lauren HQ New Jersey (from 1/1/22 to12/31/22) (see exhibit 35.3)

 

35.20  Computershare Trust Company, National Association, asServicing Function Participant under the BANK 2020-BNK27 securitization,pursuant to which the following mortgage loans were serviced by such party:Ralph Lauren HQ New Jersey (from 1/1/22 to 12/31/22) (see exhibit 35.4)

 

(99.1)Mortgage Loan Purchase Agreement, dated July 23, 2020, between Morgan StanleyCapital I Inc. and Morgan Stanley Mortgage Capital Holdings LLC (filed asExhibit 99.1 to the registrant's Current Report on Form 8-K filed on July 31,2020 under SEC File No. 333-227446-11 and incorporated by reference herein).

 

(99.2)Mortgage Loan Purchase Agreement, dated July 23, 2020, between Morgan StanleyCapital I Inc. and Argentic Real Estate Finance LLC (filed as Exhibit 99.2 tothe registrant's Current Report on Form 8-K filed on July 31, 2020 under SECFile No. 333-227446-11 and incorporated by reference herein).

 

(99.3)Mortgage Loan Purchase Agreement, dated July 23, 2020, between Morgan StanleyCapital I Inc. and Starwood Mortgage Capital LLC (filed as Exhibit 99.3 to theregistrant's Current Report on Form 8-K filed on July 31, 2020 under SEC FileNo. 333-227446-11 and incorporated by reference herein).

 

(99.4)Mortgage Loan Purchase Agreement, dated July 23, 2020, between Morgan StanleyCapital I Inc., Barclays Capital Real Estate Inc. and Barclays Capital HoldingsInc. (filed as Exhibit 99.4 to the registrant's Current Report on Form 8-Kfiled on July 31, 2020 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(99.5)Co-Lender Agreement, dated as of July 31, 2020, between SPREF WH III LLC, asinitial note A-1 holder, SPREF WH III LLC, as initial note A-2 holder, andGoldman Sachs Bank USA, as initial note A-3 holder, relating to The Liz loancombination (filed as Exhibit 99.5 to the registrant's Current Report on Form8-K filed on July 31, 2020 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(99.6)Co-Lender Agreement, dated as of February 26, 2020, between Barclays Bank PLCas the initial holder of Note A-1 and Note A-2, Barclays Capital Real EstateInc., as the initial holder of Note A-3, Note A-8 and Note B-1, Goldman SachsBank USA, as the initial holder of Note A-4, Note A-5, Note A-9 and Note B-2,and Wells Fargo Bank, National Association, as the initial holder of Note A-6,Note A-7, Note A-10 and Note B-3, relating to the 525 Market Street loancombination (filed as Exhibit 99.6 to the registrant's Current Report on Form8-K filed on July 31, 2020 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(99.7)Agreement Between Note Holders, dated as of December 9, 2019, by and betweenMorgan Stanley Bank, N.A., as initial note A-1-S1 holder, initial note A-1-S2holder, initial note A-1-RL holder, initial note A-1-C1 holder, initial noteA-1-C2 holder, initial note A-1-C3 holder, initial note A-1-C4 holder, initialnote A-1-C5 holder, initial note B-1-S holder, initial note B-1-RL holder andinitial note C-1-S holder, Citi Real Estate Funding Inc., as initial noteA-2-S1 holder, initial note A-2-S2 holder, initial note A-2-RL holder, initialnote A-2-C1 holder, initial note A-2-C2 holder, initial note A-2-C3 holder,initial note A-2-C4 holder, initial note A-2-C5 holder, initial note B-2-Sholder, initial note B-2-RL holder and initial note C-2-S holder, and JPMorganChase Bank, National Association, as initial note A-3-S1 holder, initial noteA-3-S2 holder, initial note A-3-RL holder, initial note A-3-C1 holder, initialnote A-3-C2 holder, initial note A-3-C3 holder, initial note A-3-C4 holder,initial note A-3-C5 holder, initial note B-3-S holder, initial note B-3-RLholder and initial note C-3-S holder, relating to the Bellagio Hotel and Casinoloan combination (filed as Exhibit 99.7 to the registrant's Current Report onForm 8-K filed on July 31, 2020 under SEC File No. 333-227446-11 andincorporated by reference herein).

 

(99.8)Co-Lender Agreement, dated as of June 1, 2020, by and between SPREF WH III LLC,as initial note A-1 holder, SPREF WH III LLC, as initial note A-2-1 holder,SPREF WH III LLC, as initial note A-2-2 holder, and SPREF WH III LLC, asinitial note A-3 holder, relating to the Bushwick Multifamily Portfolio loancombination (filed as Exhibit 99.8 to the registrant's Current Report on Form8-K filed on July 31, 2020 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(99.9)Co-Lender Agreement, dated as of February 21, 2020, by and between SPREF WH IILLC, as initial note A-1 holder, SPREF WH II LLC, as initial note A-2 holder,SPREF WH II LLC, as initial note A-3 holder, and SPREF WH II LLC, as initialnote A-4 holder, relating to the HPE Campus loan combination (filed as Exhibit99.9 to the registrant's Current Report on Form 8-K filed on July 31, 2020under SEC File No. 333-227446-11 and incorporated by reference herein).

 

(99.10)Agreement Between Noteholders, dated as of June 26, 2020, between MorganStanley Bank, N.A., as initial Note A-1 holder, Morgan Stanley Bank, N.A., asinitial Note A-2 holder, and Morgan Stanley Mortgage Capital Holdings LLC, asinitial agent, relating to the Ralph Lauren HQ New Jersey loan combination(filed as Exhibit 99.10 to the registrant's Current Report on Form 8-K filed onJuly 31, 2020 under SEC File No. 333-227446-11 and incorporated by referenceherein). 

 

(99.11) SecondAmended and Restated Servicing Agreement, effective as of October 31, 2021,between Wells Fargo Bank, N.A., Wells Fargo Delaware Trust Company, N.A.,Computershare Trust Company, N.A., Computershare Delaware Trust Company andComputershare Limited (filed as Exhibit 99.1 to the registrant's Current Reporton Form 8-K filed on November 5, 2021 under SEC File No. 333-227446-11 andincorporated by reference herein).

 

(b) See (a) above.

 

(c) NotApplicable.

 

**SIGNATURES**

 

Pursuantto the requirements of Section 13 or 15(d) of the Securities Exchange Act of1934, the registrant has duly caused this report to be signed on its behalf bythe undersigned, thereunto duly authorized.

 

MorganStanley Capital I Inc.

(Depositor)

 

By:/s/ Jane Lam

JaneLam, President

(seniorofficer in charge of securitization of the depositor)

 

Date: March 28, 2023