**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, 2023OR**

**//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 Computershare Trust Company, National Association,as agent for**

**Wells Fargo Bank, National Association**

**9062 Old Annapolis Road**

** Columbia, MD**

**(Address of principal executive offices)**

 

**21045**

**(Zip Code)**

 

**Telephone number, including area code:**

**(667) 786‐1992**

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 inRule 405 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**

 

TheMSC 2020-HR8 mortgage pool includes the following mortgage loans, each of whichis serviced pursuant to a separate pooling and servicing agreement (each, an“Outside Pooling and Servicing Agreement”):

 

•  the 525 Market Street mortgage loan, which is serviced pursuant to the MKT2020-525M trust and servicing agreement attached hereto as Exhibit 4.2;

 

•  the Bellagio Hotel and Casino mortgage loan, which is serviced pursuant to theBX 2019-OC11 trust and servicing agreement attached hereto as Exhibit 4.3;

 

•  the Bushwick Multifamily Portfolio mortgage loan, which is serviced pursuant tothe WFCM 2020-C56 pooling and servicing agreement attached hereto as Exhibit4.4; and

 

•  the Ralph Lauren HQ New Jersey mortgage loan, which is serviced pursuant to theBANK 2020-BNK27 pooling and servicing agreement attached hereto as Exhibit 4.5.

 

Exceptas set forth below, each of the parties to each pooling and servicing agreementlisted in the Exhibit Index both (1) participates in the servicing function forpurposes of Item 1122 of Regulation AB and (2) constitutes a servicer thatmeets the criteria in Item 1108(a)(2)(i) through (iii) of Regulation AB forpurposes of Item 1123 of Regulation AB:

 

•  The trustee under a pooling and servicing agreement has a nominal role withrespect to the mortgage pool securitized pursuant to such pooling and servicingagreement.  The trustee’s only servicing function is the contingentobligation to make certain advances if the master servicer under such poolingand servicing agreement fails to do so, while all other servicing functions areperformed by other parties.  The trustee under each of the pooling andservicing agreements listed in the Exhibit Index has confirmed to theregistrant that it has not made any such contingent advances during thereporting period, and consequently, each such trustee does not participate inthe servicing function for purposes of Item 1122 of Regulation AB, nor does itperform the functions of a servicer for purposes of the definition of “servicer”under Item 1101 of Regulation AB or for purposes of Item 1123 of Regulation AB.

 

•  The certificate administrator under a pooling and servicing agreement performsvarious payment administration functions solely for the securitization governedby such pooling and servicing agreement and the mortgage pool securitizedpursuant to such pooling and servicing agreement and does not have anyobligations with respect to any other transaction.  Consequently, thecertificate administrator under an Outside Pooling and Servicing Agreement doesnot participate in the servicing function for purposes of Item 1122 ofRegulation AB, nor does it perform the functions of a servicer for purposes ofthe definition of “servicer” under Item 1101 of Regulation AB or for purposesof Item 1123 of Regulation AB.

 

•  The operating advisor under a pooling and servicing agreement represents theinterests of senior certificateholders in the transaction governed by suchpooling and servicing agreement and is responsible for monitoring theperformance of the special servicer under such pooling and servicing agreementand producing certain reports to certificateholders relating to the resolutionof the mortgage pool securitized pursuant to such pooling and servicingagreement.  The operating advisor under a pooling and servicing agreementdoes not have any obligations with respect to any other transaction and issolely obligated to perform loan reporting functions with respect to thesecuritization governed by such pooling and servicing agreement. Consequently, the operating advisor under an Outside Pooling and ServicingAgreement neither participates in the servicing function for purposes of Item1122 of Regulation AB nor performs the functions of a servicer for purposes ofthe definition of “servicer” under Item 1101 of Regulation AB or for purposesof Item 1123 of Regulation AB.  In addition, while the operating advisorunder a pooling and servicing agreement has certain reporting obligations inrespect of the related mortgage pool, it has no obligation to collect ordisburse funds in respect of the mortgage pool or to administer any of theunderlying mortgage loans.  Consequently, the operating advisor under apooling and servicing agreement participates in the servicing function for purposesof Item 1122 of Regulation AB, but is not responsible for the “management orcollection of the pool assets or making allocations or distributions to holdersof the asset-backed securities” within the meaning of “servicer” under Item1101 of Regulation AB and does not perform the functions of a servicer forpurposes 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 Association is the servicer underthe BX 2019-OC11 trust and servicing agreement, pursuant to which the BellagioHotel and Casino mortgage loan is serviced.  Because KeyBank NationalAssociation is not the MSC 2020-HR8 master servicer, is not affiliated with anysponsor and services only the Bellagio Hotel and Casino mortgage loan, whichconstitutes more than 5% but less than 10% of the mortgage pool, KeyBankNational 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 Management LLC is the special servicer under theBANK 2020-BNK27 pooling and servicing agreement, pursuant to which the RalphLauren HQ New Jersey mortgage loan is serviced.  Because CWCapital AssetManagement LLC is not the MSC 2020-HR8 special servicer, is not affiliated withany sponsor and services only the Ralph Lauren HQ New Jersey mortgage loan,which constitutes less than 5% of the mortgage pool, CWCapital Asset ManagementLLC, as BANK 2020-BNK27 special servicer, does not constitute a reporting“servicing function participant” for purposes of Item 1122 of Regulation AB, asspecified in the Instruction 3 to Item 1122, and does not constitute areporting “servicer” for purposes of Item 1123 of Regulation AB, as specifiedin the Instruction to Item 1123.

 

•   K-Star Asset Management LLCis the current special servicer under the WFCM 2020-C56 pooling and servicingagreement, pursuant to which the Bushwick Multifamily Portfolio mortgage loanis serviced. On April 24, 2023, Midland Loan Services, a Division of PNC Bank,National Association, was replaced as special servicer under the WFCM 2020-C56pooling and servicing agreement and was succeeded by K-Star Asset ManagementLLC. 

 

•  K-Star Asset Management LLC is the current special servicer underthe MSC 2020-HR8 pooling and servicing agreement. On May 2, 2023, Midland LoanServices, a Division of PNC Bank, National Association was replaced as specialservicer under the MSC 2020-HR8 pooling and servicing agreement and wassucceeded by K-Star Asset Management LLC.

 

Inaddition, each of the following parties engaged the services of certainservicing function participants and sub-servicers for the reporting period, asset forth below:

 

•  Wells Fargo Bank, National Association, as master servicer, engaged theservices of CoreLogic Solutions, LLC as a servicing function participant inrespect of the entire mortgage pool for the reporting period.

 

•  Wells Fargo Bank, National Association, as servicer under the MKT 2020-525Mtrust and servicing agreement, pursuant to which the 525 Market Street mortgageloan is serviced, engaged the services of CoreLogic Solutions, LLC as aservicing function participant in respect of the 525 Market Street mortgageloan for the reporting period.

 

•  Wells Fargo Bank, National Association, as master servicer under the WFCM2020-C56 pooling and servicing agreement, pursuant to which the BushwickMultifamily Portfolio mortgage loan is serviced, engaged the services ofCoreLogic Solutions, LLC as a servicing function participant in respect of theBushwick Multifamily Portfolio mortgage loan for the reporting period.

 

•  Wells Fargo Bank, National Association, as master servicer under the BANK2020-BNK27 pooling and servicing agreement, pursuant to which the Ralph LaurenHQ New Jersey mortgage loan is serviced, engaged the services of CoreLogicSolutions, LLC as a servicing function participant in respect of the RalphLauren HQ New Jersey mortgage loan for the reporting period.

 

•  On November 1, 2021, pursuant to the second amended and restated servicingagreement attached hereto as Exhibit 99.11, Computershare Trust Company,National Association was engaged to perform all or virtually all of Wells FargoBank, National Association’s roles as certificate administrator, custodian andtrustee, as applicable, under (i) the pooling and servicing agreement and (ii)each Outside Pooling and Servicing Agreement.

 

| **PART I**   |                            |
|-------------------|---------------------------------|
|              |                            |
| **Item 1.**  | **Business.**                   |
|              | Omitted.                        |
| **Item 1A.** | **Risk Factors.**          |
|              | Omitted.                        |
| **Item 1B.** | **Unresolved Staff  Comments.** |
|              | None.                           |
| **Item 1C.** | **Cybersecurity.**              |
|              | Omitted.                        |
| **Item 2.**  | **Properties.**                 |
|              | Omitted.                        |
| **Item 3.**  | **Legal Proceedings.**     |
|              | Omitted.                        |
| **Item 4.**  | **Mine Safety Disclosures.**    |
|              | 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, IKB International and IKBDeutsche Industriebank (together, IKB) in New York state court, and Park RoyalI LLC and Park Royal II LLC 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 repurchase obligationsof mortgage loan sellers for purported breaches of representations andwarranties, 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 each appealed the district court’s decision to the United StatesCourt of Appeals for the Second Circuit. Phoenix Light dismissed its appeal inMay 2023, terminating its case. In November 2023, Wells Fargo Bank, N.A.entered into an agreement with IKB to resolve IKB’s claims. Wells Fargo Bank,N.A. previously settled two class actions filed by institutional investors andan action filed by the National Credit Union Administration with similarallegations.

  

**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. In addition, K-StarAsset Management LLC, the special servicer under the MSC 2020-HR8 pooling andservicing agreement, is also (i) the special servicer under the WFCM 2020-C56pooling and servicing agreement, pursuant to which the Bushwick MultifamilyPortfolio mortgage loan is serviced, and (ii) an affiliate of (x) KKR RealEstate Credit Opportunity Partners II L.P., the directing certificateholderwith respect to the MSC 2020-HR8 securitization and (y) KKR CMBS II AggregatorType 2 L.P., the third party purchaser and retaining party with respect to theMSC 2020-HR8 securitization.

 

**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.

 

**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)        Poolingand Servicing Agreement, dated as of July 1, 2020, between Morgan Stanley CapitalI Inc., as depositor, Wells Fargo Bank, National Association, as masterservicer, Midland Loan Services, a Division of PNC Bank, National Association,as special servicer, Wells Fargo Bank, National Association, as certificateadministrator, Wilmington Trust, National Association, as trustee, and ParkBridge Lender Services LLC, as operating advisor and as asset representationsreviewer (filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K/Afiled on January 29, 2021 under SEC File No. 333-227446-11 and incorporated byreference herein).

 

(4.2)        Trust andServicing Agreement, dated as of February 26, 2020, between Barclays CommercialMortgage Securities LLC, as depositor, Wells Fargo Bank, National Association,as servicer, Situs Holdings, LLC, as special servicer, Wells Fargo Bank,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 andServicing Agreement, dated as of December 1, 2019, between Morgan StanleyCapital I Inc., as depositor, KeyBank National Association, as servicer, SitusHoldings, LLC, as special servicer, Wells Fargo Bank, National Association, ascertificate administrator and trustee, and Park Bridge Lender Services LLC, asoperating advisor, relating to the BX 2019-OC11 securitization transaction,pursuant to which the Bellagio Hotel and Casino Mortgage Loan is serviced(filed as Exhibit 4.3 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).

 

(4.4)        Pooling andServicing Agreement, dated as of June 1, 2020, between Wells Fargo CommercialMortgage Securities, Inc., as depositor, Wells Fargo Bank, NationalAssociation, as master servicer, Midland Loan Services, a Division of PNC Bank,National Association, as special servicer, Wells Fargo Bank, NationalAssociation, as certificate administrator, Wilmington Trust, NationalAssociation, as trustee, and Pentalpha Surveillance LLC, as operating advisorand asset representations reviewer, relating to the WFCM 2020-C56securitization transaction, pursuant to which the Bushwick MultifamilyPortfolio Mortgage Loan is serviced (filed as Exhibit 4.4 to the registrant'sCurrent 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 andServicing Agreement, dated as of June 1, 2020, between Banc of America MerrillLynch Commercial Mortgage Inc., as depositor, Wells Fargo Bank, NationalAssociation, as master servicer, CWCapital Asset Management LLC, as specialservicer, Wells Fargo Bank, National Association, as certificate administrator,Wilmington Trust, National Association, as trustee, and Park Bridge LenderServices LLC, as operating advisor and asset representations reviewer, relatingto the BANK 2020-BNK27 securitization transaction, pursuant to which the RalphLauren HQ New Jersey Mortgage Loan is serviced (filed as Exhibit 4.5 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). 

 

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

 

(33)        Reports on assessment of compliance withservicing criteria for asset-backed securities.

 

33.1        Wells Fargo Bank, National Association, asCertificate Administrator

 

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

 

33.3        WellsFargo Bank, National Association, as Custodian

 

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

 

33.5        WellsFargo Bank, National Association, as Master Servicer

 

33.6        K-StarAsset Management LLC, as Special Servicer (from 5/2/23 to 12/31/23)

 

33.7        MidlandLoan Services, a Division of PNC Bank, National Association, as SpecialServicer (from 1/1/23 to 5/1/23)

 

33.8        ParkBridge Lender Services LLC, as Operating Advisor

 

33.9        CoreLogicSolutions, LLC, as Servicing Function Participant

 

33.10      Wells Fargo Bank,National Association, as Master Servicer under the MKT 2020-525Msecuritization, pursuant to which the following mortgage loans were serviced bysuch party: 525 Market Street (from 1/1/23 to 12/31/23) (see exhibit 33.5)

 

33.11      CoreLogic Solutions,LLC, as Servicing Function Participant under the MKT 2020-525M securitization,pursuant to which the following mortgage loans were serviced by such party: 525Market Street (from 1/1/23 to 12/31/23) (see exhibit 33.9)

 

33.12      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 1/1/23 to12/31/23)

 

33.13      Wells Fargo Bank,National Association, as Master Servicer under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 33.5)

 

33.14      CoreLogic Solutions,LLC, as Servicing Function Participant under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 33.9)

 

33.15      Wells Fargo Bank,National Association, as Master Servicer under the BANK 2020-BNK27securitization, pursuant to which the following mortgage loans were serviced bysuch party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit33.5)

 

33.16      CoreLogic Solutions,LLC, as Servicing Function Participant under the BANK 2020-BNK27securitization, pursuant to which the following mortgage loans were serviced bysuch party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit33.9)

 

33.17      Situs Holdings,LLC, as Special Servicer under the MKT 2020-525M securitization, pursuant towhich the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/23 to 12/31/23)

 

33.18      Situs Holdings,LLC, as Special Servicer under the BX 2019-OC11 securitization, pursuant towhich the following mortgage loans were serviced by such party: Bellagio Hoteland Casino (from 1/1/23 to 12/31/23) (see exhibit 33.17)

 

33.19      K-Star AssetManagement LLC, as Special Servicer under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 4/24/23 to 12/31/23) (see Exhibit 33.6)

 

33.20      Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/23 to 4/23/23) (see exhibit 33.7)

 

33.21      Wells Fargo Bank,National Association, as Custodian under the MKT 2020-525M securitization,pursuant to which the following mortgage loans were serviced by such party: 525Market Street (from 1/1/23 to 12/31/23) (see exhibit 33.3)

 

33.22      Computershare TrustCompany, National Association, as Servicing Function Participant under the MKT2020-525M securitization, pursuant to which the following mortgage loans wereserviced by such party: 525 Market Street (from 1/1/23 to 12/31/23) (seeexhibit 33.4)

 

33.23      Wells Fargo Bank,National Association, as Custodian under the BX 2019-OC11 securitization,pursuant to which the following mortgage loans were serviced by such party:Bellagio Hotel and Casino (from 1/1/23 to 12/31/23) (see exhibit 33.3)

 

33.24      Computershare TrustCompany, National Association, as Servicing Function Participant under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/23 to 12/31/23)(see exhibit 33.4)

 

33.25      Wells Fargo Bank,National Association, as Custodian under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 33.3)

 

33.26      Computershare TrustCompany, National Association, as Servicing Function Participant under the WFCM2020-C56 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bushwick Multifamily Portfolio (from 1/1/23 to12/31/23) (see exhibit 33.4)

 

33.27      Wells Fargo Bank,National Association, as Custodian under the BANK 2020-BNK27 securitization,pursuant to which the following mortgage loans were serviced by such party:Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit 33.3)

 

33.28      Computershare TrustCompany, National Association, as Servicing Function Participant under the BANK2020-BNK27 securitization, pursuant to which the following mortgage loans wereserviced by such party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23)(see exhibit 33.4)

 

(34).       Attestation reports on assessment ofcompliance with servicing criteria for asset-backed securities.

 

34.1        Wells Fargo Bank, National Association, asCertificate Administrator

 

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

 

34.3        WellsFargo Bank, National Association, as Custodian

 

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

 

34.5        WellsFargo Bank, National Association, as Master Servicer

 

34.6        K-StarAsset Management LLC, as Special Servicer (from 5/2/23 to 12/31/23)

 

34.7        MidlandLoan Services, a Division of PNC Bank, National Association, as SpecialServicer (from 1/1/23 to 5/1/23)

 

34.8        ParkBridge Lender Services LLC, as Operating Advisor

 

34.9        CoreLogicSolutions, LLC, as Servicing Function Participant

 

34.10      Wells Fargo Bank,National Association, as Master Servicer under the MKT 2020-525Msecuritization, pursuant to which the following mortgage loans were serviced bysuch party: 525 Market Street (from 1/1/23 to 12/31/23) (see exhibit 34.5)

 

34.11      CoreLogic Solutions,LLC, as Servicing Function Participant under the MKT 2020-525M securitization,pursuant to which the following mortgage loans were serviced by such party: 525Market Street (from 1/1/23 to 12/31/23) (see exhibit 34.9)

 

34.12      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 1/1/23 to12/31/23)

 

34.13      Wells Fargo Bank,National Association, as Master Servicer under the WFCM 2020-C56securitization, pursuant to which the following mortgage loans were serviced bysuch party: Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (seeexhibit 34.5)

 

34.14      CoreLogic Solutions,LLC, as Servicing Function Participant under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 34.9)

           

34.15      Wells Fargo Bank,National Association, as Master Servicer under the BANK 2020-BNK27securitization, pursuant to which the following mortgage loans were serviced bysuch party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit34.5)

 

34.16      CoreLogic Solutions,LLC, as Servicing Function Participant under the BANK 2020-BNK27securitization, pursuant to which the following mortgage loans were serviced bysuch party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit34.9)

 

34.17      Situs Holdings,LLC, as Special Servicer under the MKT 2020-525M securitization, pursuant towhich the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/23 to 12/31/23)

 

34.18      Situs Holdings,LLC, as Special Servicer under the BX 2019-OC11 securitization, pursuant towhich the following mortgage loans were serviced by such party: Bellagio Hoteland Casino (from 1/1/23 to 12/31/23) (see exhibit 34.17)

 

34.19      K-Star AssetManagement LLC, as Special Servicer under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 4/24/23 to 12/31/23) (see Exhibit 34.6)

 

34.20      Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/23 to 4/23/23) (see exhibit 34.7)

 

34.21      Wells Fargo Bank,National Association, as Custodian under the MKT 2020-525M securitization,pursuant to which the following mortgage loans were serviced by such party: 525Market Street (from 1/1/23 to 12/31/23) (see exhibit 34.3)

 

34.22      Computershare TrustCompany, National Association, as Servicing Function Participant under the MKT2020-525M securitization, pursuant to which the following mortgage loans wereserviced by such party: 525 Market Street (from 1/1/23 to 12/31/23) (seeexhibit 34.4)

 

34.23      Wells Fargo Bank,National Association, as Custodian under the BX 2019-OC11 securitization,pursuant to which the following mortgage loans were serviced by such party:Bellagio Hotel and Casino (from 1/1/23 to 12/31/23) (see exhibit 34.3)

 

34.24      Computershare TrustCompany, National Association, as Servicing Function Participant under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/23 to 12/31/23)(see exhibit 34.4)

 

34.25      Wells Fargo Bank,National Association, as Custodian under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 34.3)

 

34.26      Computershare TrustCompany, National Association, as Servicing Function Participant under the WFCM2020-C56 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bushwick Multifamily Portfolio (from 1/1/23 to12/31/23) (see exhibit 34.4)

 

34.27      Wells Fargo Bank,National Association, as Custodian under the BANK 2020-BNK27 securitization,pursuant to which the following mortgage loans were serviced by such party:Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit 34.3)

 

34.28      Computershare TrustCompany, National Association, as Servicing Function Participant under the BANK2020-BNK27 securitization, pursuant to which the following mortgage loans wereserviced by such party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23)(see exhibit 34.4)

 

(35).       Servicer compliance statement.

 

35.1        Wells Fargo Bank, National Association, asCertificate Administrator

 

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

 

35.3        WellsFargo Bank, National Association, as Custodian

 

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

 

35.5        WellsFargo Bank, National Association, as Master Servicer

 

35.6        K-StarAsset Management LLC, as Special Servicer (from 5/2/23 to 12/31/23)

 

35.7        MidlandLoan Services, a Division of PNC Bank, National Association, as SpecialServicer (from 1/1/23 to 5/1/23)

 

35.8        WellsFargo Bank, National Association, as Master Servicer under the MKT 2020-525Msecuritization, pursuant to which the following mortgage loans were serviced bysuch party: 525 Market Street (from 1/1/23 to 12/31/23) (see exhibit 35.5)

 

35.9        WellsFargo Bank, National Association, as Master Servicer under the WFCM 2020-C56securitization, pursuant to which the following mortgage loans were serviced bysuch party: Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (seeexhibit 35.5)

 

35.10      Wells Fargo Bank,National Association, as Master Servicer under the BANK 2020-BNK27securitization, pursuant to which the following mortgage loans were serviced bysuch party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit35.5)

 

35.11      Situs Holdings,LLC, as Special Servicer under the MKT 2020-525M securitization, pursuant towhich the following mortgage loans were serviced by such party: 525 MarketStreet (from 1/1/23 to 12/31/23)

 

35.12      Situs Holdings,LLC, as Special Servicer under the BX 2019-OC11 securitization, pursuant towhich the following mortgage loans were serviced by such party: Bellagio Hoteland Casino (from 1/1/23 to 12/31/23) (see Exhibit 35.11)

 

35.13      K-Star AssetManagement LLC, as Special Servicer under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 4/24/23 to 12/31/23) (see Exhibit 35.6)

 

35.14      Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the WFCM 2020-C56 securitization, pursuant to which the followingmortgage loans were serviced by such party: Bushwick Multifamily Portfolio(from 1/1/23 to 4/23/23) (see exhibit 35.7)

 

35.15      Wells Fargo Bank,National Association, as Custodian under the MKT 2020-525M securitization,pursuant to which the following mortgage loans were serviced by such party: 525Market Street (from 1/1/23 to 12/31/23) (see exhibit 35.3)

 

35.16      Computershare TrustCompany, National Association, as Servicing Function Participant under the MKT2020-525M securitization, pursuant to which the following mortgage loans wereserviced by such party: 525 Market Street (from 1/1/23 to 12/31/23) (seeexhibit 35.4)

 

35.17      Wells Fargo Bank,National Association, as Custodian under the BX 2019-OC11 securitization,pursuant to which the following mortgage loans were serviced by such party:Bellagio Hotel and Casino (from 1/1/23 to 12/31/23) (see exhibit 35.3)

 

35.18      Computershare TrustCompany, National Association, as Servicing Function Participant under the BX2019-OC11 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bellagio Hotel and Casino (from 1/1/23 to 12/31/23)(see exhibit 35.4)

 

35.19      Wells Fargo Bank,National Association, as Custodian under the WFCM 2020-C56 securitization,pursuant to which the following mortgage loans were serviced by such party:Bushwick Multifamily Portfolio (from 1/1/23 to 12/31/23) (see exhibit 35.3)

 

35.20      Computershare TrustCompany, National Association, as Servicing Function Participant under the WFCM2020-C56 securitization, pursuant to which the following mortgage loans wereserviced by such party: Bushwick Multifamily Portfolio (from 1/1/23 to12/31/23) (see exhibit 35.4)

 

35.21      Wells Fargo Bank,National Association, as Custodian under the BANK 2020-BNK27 securitization,pursuant to which the following mortgage loans were serviced by such party:Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23) (see exhibit 35.3)

 

35.22      Computershare TrustCompany, National Association, as Servicing Function Participant under the BANK2020-BNK27 securitization, pursuant to which the following mortgage loans wereserviced by such party: Ralph Lauren HQ New Jersey (from 1/1/23 to 12/31/23)(see exhibit 35.4)

 

(99.1)      Mortgage Loan PurchaseAgreement, dated July 23, 2020, between Morgan Stanley Capital I Inc. andMorgan Stanley Mortgage Capital Holdings LLC (filed as Exhibit 99.1 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).

 

(99.2)      Mortgage Loan PurchaseAgreement, dated July 23, 2020, between Morgan Stanley Capital I Inc. andArgentic Real Estate Finance LLC (filed as Exhibit 99.2 to the registrant'sCurrent Report on Form 8-K filed on July 31, 2020 under SEC File No.333-227446-11 and incorporated by reference herein).

 

(99.3)      Mortgage Loan PurchaseAgreement, dated July 23, 2020, between Morgan Stanley Capital I Inc. andStarwood Mortgage Capital LLC (filed as Exhibit 99.3 to the registrant'sCurrent Report on Form 8-K filed on July 31, 2020 under SEC File No.333-227446-11 and incorporated by reference herein).

 

(99.4)      Mortgage LoanPurchase Agreement, dated July 23, 2020, between Morgan Stanley Capital I Inc.,Barclays Capital Real Estate Inc. and Barclays Capital Holdings Inc. (filed asExhibit 99.4 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).

 

(99.5)      Co-Lender Agreement,dated as of July 31, 2020, between SPREF WH III LLC, as initial note A-1holder, SPREF WH III LLC, as initial note A-2 holder, and Goldman Sachs BankUSA, as initial note A-3 holder, relating to The Liz loan combination (filed asExhibit 99.5 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 reference herein).

 

(99.6)      Co-Lender Agreement,dated as of February 26, 2020, between Barclays Bank PLC as the initial holderof Note A-1 and Note A-2, Barclays Capital Real Estate Inc., as the initialholder of Note A-3, Note A-8 and Note B-1, Goldman Sachs Bank USA, as theinitial holder of Note A-4, Note A-5, Note A-9 and Note B-2, and Wells FargoBank, National Association, as the initial holder of Note A-6, Note A-7, NoteA-10 and Note B-3, relating to the 525 Market Street loan combination (filed asExhibit 99.6 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).

 

(99.7)      Agreement Between NoteHolders, dated as of December 9, 2019, by and between Morgan Stanley Bank,N.A., as initial note A-1-S1 holder, initial note A-1-S2 holder, initial noteA-1-RL holder, initial note A-1-C1 holder, initial note A-1-C2 holder, initialnote A-1-C3 holder, initial note A-1-C4 holder, initial note A-1-C5 holder,initial note B-1-S holder, initial note B-1-RL holder and initial note C-1-Sholder, Citi Real Estate Funding Inc., as initial note A-2-S1 holder, initialnote A-2-S2 holder, initial note A-2-RL holder, initial note A-2-C1 holder,initial note A-2-C2 holder, initial note A-2-C3 holder, initial note A-2-C4holder, initial note A-2-C5 holder, initial note B-2-S holder, initial noteB-2-RL holder and initial note C-2-S holder, and JPMorgan Chase Bank, NationalAssociation, as initial note A-3-S1 holder, initial note A-3-S2 holder, initialnote A-3-RL holder, initial note A-3-C1 holder, initial note 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-RL holder and initial note C-3-Sholder, relating to the Bellagio Hotel and Casino loan combination (filed asExhibit 99.7 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).

 

(99.8)      Co-Lender Agreement,dated as of June 1, 2020, by and between SPREF WH III LLC, as initial note A-1holder, SPREF WH III LLC, as initial note A-2-1 holder, SPREF WH III LLC, asinitial note A-2-2 holder, and SPREF WH III LLC, as initial note A-3 holder,relating to the Bushwick Multifamily Portfolio loan combination (filed asExhibit 99.8 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).

 

(99.9)      Co-Lender Agreement,dated as of February 21, 2020, by and between SPREF WH II LLC, as initial noteA-1 holder, SPREF WH II LLC, as initial note A-2 holder, SPREF WH II LLC, asinitial note A-3 holder, and SPREF WH II LLC, as initial note A-4 holder,relating to the HPE Campus loan combination (filed as Exhibit 99.9 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).

 

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

 

(99.11)    Second Amended and Restated Servicing Agreement,effective as of October 31, 2021, between Wells Fargo Bank, N.A., Wells FargoDelaware Trust Company, N.A., Computershare Trust Company, N.A., ComputershareDelaware Trust Company and Computershare Limited (filed as Exhibit 99.1 to theregistrant's Current Report on Form 8-K filed on November 5, 2021 under SECFile No. 333-227446-11 and incorporated by reference herein).

 

(b)          See (a) above.

 

(c)           Not Applicable.

 

**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, 2024