**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

(Mark One)

**x****  ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2018or**

**o**** ****TRANSITIONREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from _____ to _____Commission file number of the issuing entity: 333-165147-01**

**Central Index Key Number of the issuing entity:0001529658**

**J.P. Morgan Chase CommercialMortgage Securities Trust 2011‐C5**

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

** **

**Central Index Key Number of the depositor: 0001013611**

**J.P. Morgan Chase CommercialMortgage Securities Corp.**

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

** **

**Central Index Key Number of the sponsor: 0000835271**

**JPMorgan Chase Bank, NationalAssociation**

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

** **

| **New York****(State or other jurisdiction of  incorporation or organization of**

**the issuing entity)** | **38-3851352**

**38-3851353**

**38-7003224**

**(I.R.S. Employer**

**Identification Numbers)** |
|------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|

**c/o Wells Fargo Bank, National Association**

**as Certificate Administrator**

**9062 Old Annapolis Road**

**Columbia, MD**

**(Address of principalexecutive offices of the issuing entity)**

**21045**

**(Zip Code)**

**Registrant’s telephone number,including area code:**

**(212) 834-5467**

Securities registered pursuant to Section 12(b) of theAct:  None.

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

Indicate by check mark if the registrant is a well-knownseasoned issuer, as defined in Rule 405 of the Securities Act.  o Yes ⌧No

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

Indicate by check mark whether the registrant (1) has filedall reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.  ⌧ Yes oNo

Indicate by check mark whether the registrant has submittedelectronically and posted on its corporate Web site, if any, every InteractiveData File required to be submitted and posted 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 and postsuch files).

Not applicable.

Indicate by check mark if disclosure of delinquent filerspursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is notcontained herein, and will not be contained, to the best of registrant’sknowledge, in definitive proxy or information statements incorporated byreference in Part III of this Form 10-K or any amendment to this Form10-K.   

Not applicable.

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

Large acceleratedfiler        o                                                                                                       Acceleratedfiler                                     o

Non-acceleratedfiler          ⌧  (Do not check ifa smaller reporting company)                          Smaller reportingcompany                    o

                                                                                                                                                       Emerging growthcompany                    o

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

Indicate by check mark whether the registrant is a shellcompany (as defined in Rule 12b-2 of the Act).  o Yes ⌧ No

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

Not applicable.

Indicate by check mark whether the registrant has filed alldocuments and reports required to be filed by Section 12, 13 or 15(d) of theSecurities Exchange Act of 1934 subsequent to the distribution of securitiesunder a plan confirmed by a court.  oYes oNo

Not applicable.

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

Not applicable.

**DOCUMENTS INCORPORATED BY REFERENCE**

** **

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

Not applicable.

 

**EXPLANATORYNOTE**

With regard to the servicingcriterion set forth in Item 1122(d)(4)(iv), Torchlight Loan Services, LLC, asspecial servicer, has indicated that the criterion is not applicable. Under theterms of the related pooling and servicing agreement, the master servicer mayperform this servicing function, and Torchlight Loan Services, LLC understandsthat the master servicer and the primary servicer have included this criterionin their own assessments of compliance for this transaction.

**PART I**

**Item 1.  Business.**

Omitted.

**Item 1A.  Risk Factors.**

Omitted.

**Item 1B.  Unresolved Staff Comments.**

None.

**Item 2.  Properties.**

Omitted.

**Item 3.  Legal Proceedings.**

Omitted.

**Item 4.  Mine Safety Disclosures.**

Not applicable.

**PART II**

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

Omitted.

**Item 6.  Selected Financial Data.**

Omitted.

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

Omitted.

**Item 7A.  Quantitative and Qualitative DisclosuresAbout Market Risk.**

Omitted.

**Item 8.  Financial Statements and Supplementary Data.**

Omitted.

**Item 9.  Changes in and Disagreements WithAccountants on Accounting and Financial Disclosure.**

Omitted.

**Item 9A.  Controls and Procedures.**

Omitted.

**Item 9B.  Other Information.**

None.

**PART III**

**Item 10.  Directors, Executive Officers and CorporateGovernance.**

Omitted.

**Item 11.  Executive Compensation.**

Omitted.

**Item 12.  Security Ownership of Certain BeneficialOwners and Management and Related Stockholder Matters.**

Omitted.

**Item 13.  Certain Relationships and RelatedTransactions, and Director Independence.**

Omitted.

**Item 14.  Principal Accounting Fees and Services.**

Omitted.

**ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB**

**Item 1112(b) of Regulation AB, Significant ObligorFinancial Information.**

The InterContinental Hotel Chicago Mortgage Loan (Loan # 1 onAnnex A-1 of the prospectus supplement of the registrant relating to theissuing entity filed on September 26, 2011 pursuant to Rule 424(b)(5))constitutes a significant obligor within the meaning of Item 1101(k)(2) ofRegulation AB as disclosed in the prospectus supplement. In accordance withItem 1112(b) of Regulation AB, the most recent unaudited net operating income ofthe significant obligor was $18,799,427 for the twelve- month period endedDecember 31, 2018.

SunTrust Bank, the lessee at the mortgaged properties thatsecure the SunTrust Bank Portfolio I Mortgage Loan and the SunTrust BankPortfolio II Mortgage Loan (Loan # 2 and Loan #13, respectively) on Annex A-1of the prospectus supplement of the registrant relating to the issuing entityfiled on September 26, 2011 pursuant to Rule 424(b)(5)) constitutes asignificant obligor within the meaning of Item 1101(k)(3) of Regulation AB asdisclosed in the prospectus supplement. Year-end financial information requiredunder Item 1112(b) of Regulation AB, can be found in the tables below.

 

303 Peachtree Street, NortheastAtlanta, GA 30308FDIC Certificate #: 867 Bank Charter Class: SM

| *** ***

***Definition***                                   | *** ***

***Dollar figures in  thousands*** | ** **

**SunTrust Bank** |
|------------------------------------------------------------------|--------------------------------------------------|-------------------------------|
| ** **                                                       | ** **                                       | **Atlanta, GA**               |
| ** **                                                       | ** **                                       | **December 31, 2018**         |
| **Income and Expense**                                           | ** **                                       | *(Year-to-date)*              |
| 1 Number of institutions reporting                               |                                             | 1                             |
| 2 Total interest income                                          |                                             | 7,151,563                     |
| 3 Total interest expense                                         |                                             | 1,021,835                     |
| 4 Net interest income                                            |                                             | 6,129,728                     |
| 5 Provision for loan and lease losses                            |                                             | 217,746                       |
| 6 Total noninterest income                                       |                                             | 2,742,317                     |
| 7 Fiduciary activities                                           |                                             | 307,231                       |
| 8 Service charges on deposit accounts                            |                                             | 615,854                       |
| 9 Trading account gains & fees                               |                                             | 156,855                       |
| 10 Additional noninterest income                                 |                                             | 1,662,377                     |
| 11 Total noninterest expense                                     |                                             | 5,254,684                     |
| 12 Salaries and employee benefits                                |                                             | 2,834,754                     |
| 13 Premises and equipment expense                                |                                             | 531,510                       |
| 14 Additional noninterest expense                                |                                             | 1,888,420                     |
| 15 Pre-tax net operating income                                  |                                             | 3,399,615                     |
| 16 Securities gains (losses)                                     |                                             | 778                           |
| 17 Applicable income taxes                                       |                                             | 581,162                       |
| 18 Income before extraordinary items                             |                                             | 2,819,231                     |
| 19 Discontinued operations (Extraordinary gains - net)           |                                             | 0                             |
| 20 Net income attributable to bank                               |                                             | 2,810,166                     |
| 21 Net income attributable to noncontrolling interests           |                                             | 9,065                         |
| 22 Net income attributable to bank and noncontrolling  interests |                                             | 2,819,231                     |
| 23 Net charge-offs                                               |                                             | 337,769                       |
| 24 Cash dividends                                                |                                             | 2,300,000                     |
| 25 Sale, conversion, retirement of capital stock, net            |                                             | 0                             |
| 26 Net operating income                                          |                                             | 2,818,585                     |

 

 

| *** ***

***Definition***                                  | *** ***

***Dollar figures in  thousands*** | ** **

**SunTrust Bank** |
|-----------------------------------------------------------------|--------------------------------------------------|-------------------------------|
| ** **                                                      | ** **                                       | **Atlanta, GA**               |
| ** **                                                      | ** **                                       | **December 31, 2018**         |
| **Assets and Liabilities**                                      | ** **                                       |                          |
| 1  Total employees (full-time  equivalent)                 |                                             | 21,405                        |
| 2  Total assets                                            |                                             | 209,720,480                   |
| 3  Cash and due from  depository institutions              |                                             | 5,759,223                     |
| 4  Interest-bearing  balances                              |                                             | 3,249,469                     |
| 5  Securities                                              |                                             | 31,414,275                    |
| 6  Federal funds sold  & reverse repurchase agreements |                                             | 144,546                       |
| 7  Net loans & leases                                  |                                             | 151,773,966                   |
| 8  Loan loss allowance                                     |                                             | 1,614,516                     |
| 9  Trading account assets                                  |                                             | 3,426,523                     |
| 10 Bank premises and fixed  assets                              |                                             | 1,464,664                     |
| 11 Other real estate owned                                      |                                             | 71,522                        |
| 12 Goodwill and other  intangibles                              |                                             | 7,954,644                     |
| 13 All other assets                                             |                                             | 7,711,117                     |
| 14 Total liabilities and  capital                               |                                             | 209,720,480                   |
| 15 Total liabilities                                            |                                             | 185,103,651                   |
| 16 Total deposits                                               |                                             | 164,741,704                   |
| 17 Interest-bearing deposits                                    |                                             | 126,266,969                   |
| 18 Deposits held in domestic  offices                           |                                             | 164,741,704                   |
| 19 % insured                                                    |                                             | 57.74%                        |
| 20 Federal funds purchased  & repurchase agreements         |                                             | 848,710                       |
| 21 Trading liabilities                                          |                                             | 464,286                       |
| 22 Other borrowed funds                                         |                                             | 15,506,772                    |
| 23 Subordinated debt                                            |                                             | 863,602                       |
| 24 All other liabilities                                        |                                             | 2,678,577                     |
| 25 Total equity capital                                         |                                             | 24,616,829                    |
| 26 Total bank equity capital                                    |                                             | 24,508,968                    |
| 27 Perpetual preferred stock                                    |                                             | 0                             |
| 28 Common stock                                                 |                                             | 21,600                        |
| 29 Surplus                                                      |                                             | 13,403,690                    |
| 30 Undivided profits                                            |                                             | 11,083,678                    |
| 31 Noncontrolling interests in  consolidated subsidiaries       |                                             | 107,861                       |

 

| **Memoranda:**                                                                      | ** ** | ** **  |
|-------------------------------------------------------------------------------------|------------|-------------|
| 32 Noncurrent loans and leases                                                      |       | 2,178,767   |
| 33 Noncurrent loans that are  wholly or partially guaranteed by the U.S. government | 1,634,657  |
| 34 Income earned, not collected  on loans                                           |       | 1,087,096   |
| 35 Earning assets                                                                   |       | 189,396,933 |
| 36 Long-term assets (5+ years)                                                      |       | 68,329,849  |
| 37 Average Assets, year-to-date                                                     |       | 203,783,907 |
| 38 Average Assets, quarterly                                                        |       | 207,623,765 |
| 39 Total risk weighted assets                                                       |       | 182,980,935 |
| 40 Adjusted average assets for  leverage capital purposes                           |       | 202,547,540 |
| 41 Life insurance assets                                                            |       | 1,604,286   |
| 42 General account life  insurance assets                                           |       | 1,280,533   |
| 43 Separate account life  insurance assets                                          |       | 136,816     |
| 44 Hybrid life insurance assets                                                     |       | 186,937     |
| 45 Volatile liabilities                                                             |       | 12,422,797  |
| 46 Insider loans                                                                    |       | 1,006,356   |
| 47 FHLB advances                                                                    |       | 5,003,350   |
| 48 Loans and leases held for  sale                                                  |       | 1,438,529   |
| 49 Unused loan commitments                                                          |       | 98,102,976  |
| 50 Tier 1 (core) risk-based  capital                                                |       | 20,160,135  |
| 51 Tier 2 risk-based capital                                                        |       | 2,404,081   |
| 52 Total unused commitments                                                         |       | 98,102,976  |
| 53 Derivatives                                                                      |       | 237,389,130 |

**Item 1114(b)(2) of Regulation AB, Significant EnhancementProvider Financial Information.**

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

**Item 1115(b) of Regulation AB, Certain DerivativesInstruments (Financial Information).**

No entity or group of affiliated entities provides anyderivative instruments or other support for the certificates within thistransaction as described under Item 1115 of Regulation AB.

**Item 1117 of Regulation AB, Legal Proceedings.**

The registrant knows of no material pending legal proceedinginvolving the trust or any party related to the trust, other than routinelitigation incidental to the duties of those respective parties, and thefollowing, with respect to Wells Fargo Bank, National Association, as custodianand trustee: 

Since June 18, 2014, a group of institutional investors havefiled civil complaints in the Supreme Court of the State of New York, New YorkCounty, and later the U.S. District Court for the Southern District of New Yorkagainst Wells Fargo Bank, N.A., (“Wells Fargo Bank”) in its capacity astrustee for certain residential mortgage backed securities (“RMBS”)trusts.  The complaints against Wells Fargo Bank alleged that the trusteecaused losses to investors and asserted causes of action based upon, amongother things, the trustee's alleged failure to: (i) notify and enforcerepurchase obligations of mortgage loan sellers for purported breaches ofrepresentations and warranties, (ii) notify investors of alleged events ofdefault, and (iii) abide by appropriate standards of care following allegedevents of default. Relief sought included money damages in an unspecifiedamount, reimbursement of expenses, and equitable relief. Wells Fargo Bank hasreached an agreement, in which it denies any wrongdoing, to resolve theseclaims on a classwide basis for the 271 RMBS trusts currently at issue. The settlement agreement is subject to court approval.  Separate lawsuitsagainst Wells Fargo Bank making similar allegations filed by certain otherinstitutional investors concerning 57 RMBS trusts in New York federal and statecourt are not covered by the agreement.  With respect to the foregoinglitigations, Wells Fargo Bank believes plaintiffs' claims are without merit andintends to contest the claims vigorously, but there can be no assurances as tothe outcome of the litigations or the possible impact of the litigations onWells Fargo Bank or the RMBS trusts.

**Item 1119 of Regulation AB, Affiliations and CertainRelationships and Related Transactions.**

The information regarding this Item has been previouslyprovided in a prospectus supplement of the Registrant relating to the issuingentity filed on September 26, 2011 pursuant to Rule 424(b)(5).

**Item 1122 of Regulation AB, Compliance with ApplicableServicing Criteria.**

The reports on assessments of compliance with the servicingcriteria for asset-backed securities and related attestation reports on suchassessments of compliance with respect to the mortgage loans are attachedhereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AAto the Pooling and Servicing Agreement incorporated by reference as Exhibit 4to this Annual Report on Form 10-K is a chart identifying the entitiesparticipating in a servicing function for the transaction responsible for eachapplicable servicing criteria set forth in Item 1122(d).

**Item 1123 of Regulation AB, Servicer Compliance Statement.**

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

The report on assessment of compliance with applicableservicing criteria furnished pursuant to Item 1122 of Regulation AB by MidlandLoan Services, a Division of PNC Bank National Association discloses that amaterial instance of noncompliance occurred, as described below:

Material Instance of Noncompliance

In certain instances, the ScheduleAL Files (Item 1125 of Regulation AB) were not reported in accordance with theterms specified in the transaction agreements, in conflict with Item1122(d)(3)(i): “Reports to investors, including those to be filed with theCommission, are maintained in accordance with the transaction agreements andapplicable Commission requirements. Specifically, such reports: (A) Areprepared in accordance with timeframes and other terms set forth in thetransaction agreements”.  The noncompliance consisted of omitted orinaccurately reported numbers due to the following: (1) the initial setup filescontained information at the asset level, and Midland was required to manuallycompile the information to present it at the loan level as required by ScheduleAL; and (2) certain reporting requirements required manual processing byMidland, including the use of various data computation formulas, qualitycontrol checks and analysis.

The identified instances did notinvolve the servicing of assets included in this securitization.

Steps Taken to Remedy the Material Instance of Noncompliance

Midland is currently remediating theSchedule AL reporting for the CMBS transactions found to be incorrect, and willbe making improvements to its systems, processes and procedures to support itsSchedule AL reporting obligations.

**PART IV**

**Item 15. Exhibits, Financial Statement Schedules**

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

(1) Not applicable

(2) Not applicable

(3) See below

 

4             Poolingand Servicing Agreement, dated as of September 1, 2011, by and among J.P.Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Midland LoanServices, a Division of PNC Bank, National Association, as Master Servicer,Torchlight Loan Services, LLC, as Special Servicer, Wells Fargo Bank, NationalAssociation, as Trustee and Paying Agent, and Pentalpha Surveillance LLC, asSenior Trust Advisor (filed as Exhibit 4 to the registrant’s Amendment No. 1 toAnnual Report on Form 10-K/A filed on July 27, 2012 under Commission File No.333-165147-01 and incorporated by reference herein).

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

33           Reportson assessment of compliance with servicing criteria for asset-backedsecurities.

 

33.1       Midland Loan Services,a Division of PNC Bank, National Association, as Master Servicer

33.2        Torchlight Loan Services,LLC, as Special Servicer

33.3        Wells Fargo Bank, NationalAssociation, as Trustee and Paying Agent

33.4        Wells Fargo Bank, NationalAssociation, as Custodian

33.5        Pentalpha Surveillance LLC,as Senior Trust Advisor

33.6        KeyBank National Association(as successor to KeyCorp Real Estate Capital Markets, Inc.), as PrimaryServicer

34          Attestation reportson assessment of compliance with servicing criteria for asset-backedsecurities.

 

34.1       Midland Loan Services,a Division of PNC Bank, National Association, as Master Servicer

34.2        Torchlight Loan Services,LLC, as Special Servicer

34.3        Wells Fargo Bank, NationalAssociation, as Trustee and Paying Agent

34.4        Wells Fargo Bank, NationalAssociation, as Custodian

34.5        Pentalpha Surveillance LLC,as Senior Trust Advisor

34.6        KeyBank National Association(as successor to KeyCorp Real Estate Capital Markets, Inc.), as PrimaryServicer

35           Servicercompliance statements.

 

35.1       Midland Loan Services,a Division of PNC Bank, National Association, as Master Servicer

35.2        Torchlight Loan Services,LLC, as Special Servicer

35.3        Wells Fargo Bank, NationalAssociation, as Paying Agent

35.4        KeyBank National Association(as successor to KeyCorp Real Estate Capital Markets, Inc.), as PrimaryServicer

99.1        MortgageLoan Purchase Agreement, dated as of September 29, 2011, between J.P. MorganChase Commercial Mortgage Securities Corp., as Purchaser, and JPMorgan ChaseBank, National Association, as Seller (filed as Exhibit 99.1 to theregistrant’s Amendment No. 1 to Annual Report on Form 10-K/A filed on July 27,2012 under Commission File No. 333-165147-01 and incorporated by referenceherein)

99.2        SubservicingAgreement, dated as of September 1, 2011, between Midland Loan Services, aDivision of PNC Bank, National Association, as Master Servicer, and KeyCorpReal Estate Capital Markets, Inc., as Subservicer (filed as Exhibit 99.2 to theregistrant’s Amendment No. 1 to Annual Report on Form 10-K/A filed on July 27,2012 under Commission File No. 333-165147-01 and incorporated by referenceherein)

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

(c)    Not Applicable.

 

**SIGNATURES**

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

J.P. Morgan Chase CommercialMortgage Securities Corp.(Depositor)

/s/ KunalK. Singh

Kunal K.Singh, President and Chief Executive Officer

(senior officer in charge ofsecuritization of the depositor)

Date: March 22, 2019