# EDGAR Filing Document

**Accession Number:** 0002098810
**File Stem:** 0001539497-25-003327
**Filing Date:** 2025-12
**Character Count:** 21963
**Document Hash:** 47a5d6895bcc4b85b6cbf2ec457f95f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-003327.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0001539497-25-003327

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251223

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK5 2025-5YR19
- **CENTRAL INDEX KEY:** 0002098810
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-282944-04
- **FILM NUMBER:** 251598242

**BUSINESS ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-761-4000

**MAIL ADDRESS:**
- **STREET 1:** 1585 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

________________

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of report (Date of earliest event reported): December 23, 2025

Central Index Key Number of the issuing entity: 0002098810

<u>BANK5 2025-5YR19</u>

(Exact name of Issuing Entity)

Central Index Key Number of the depositor: 0001547361

<u>Morgan Stanley Capital I Inc.</u> 

(Exact Name of Registrant as Specified in its Charter)

Central Index Key Number of the sponsor: 0001541557

Morgan Stanley Mortgage Capital Holdings LLC

Central Index Key Number of the sponsor: 0000740906<br> Wells Fargo Bank, National Association

Central Index Key Number of the sponsor: 0001102113

Bank of America, National Association

Central Index Key Number of the sponsor: 0000835271<br> <u>JPMorgan Chase Bank, National Association</u><br> (Exact Names of the Sponsors as Specified in their Charters)

<u>Delaware</u> <u>333-282944-04</u> <u>13-3291626</u> <br> (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

<u>1585 Broadway, New York, New York</u> <u>10036</u> <br> (Address of Principal Executive Offices) (ZIP Code)

Registrant's telephone number, including area code: <u>(212) 761-4000</u>

<u>Not applicable</u>

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

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

**Item 8.01. Other Events.**

On December 23, 2025 (the "<u>Closing Date</u>"), Morgan Stanley Capital I Inc. (the "<u>Registrant</u>") caused the issuance of the BANK5 2025-5YR19, Commercial Mortgage Pass-Through Certificates, Series 2025-5YR19 (the "<u>Certificates</u>"), pursuant to a Pooling and Servicing Agreement, dated as of December 1, 2025 (the "<u>Pooling and Servicing Agreement</u>"), between the Registrant, as depositor, Trimont LLC, as master servicer, Torchlight Loan Services, LLC, as special servicer, Computershare Trust Company, National Association, as certificate administrator, Deutsche Bank National Trust Company, as trustee, and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement.

The Certificates consist of the following classes (each, a "<u>Class</u>"), designated as (i) the Class A-1, Class A-2, Class A-2-1, Class A-2-2, Class A-2-X1, Class A-2-X2, Class A-3, Class A-3-1, Class A-3-2, Class A-3-X1, Class A-3-X2, Class X-A, Class X-B, Class A-S, Class A-S-1, Class A-S-2, Class A-S-X1, Class A-S-X2, Class B, Class B-1, Class B-2, Class B-X1, Class B-X2, Class C, Class C-1, Class C-2, Class C-X1 and Class C-X2 Certificates (collectively, the "<u>Publicly Offered Certificates</u>"), and (ii) the Class X-D, Class X-E, Class X-F, Class X-G, Class X-H, Class D, Class E, Class F, Class G, Class H, Class V and Class R Certificates (collectively, the "<u>Privately Offered Certificates</u>").

The Publicly Offered Certificates and the Privately Offered Certificates (together with the REMIC regular interests issued pursuant to the Pooling and Servicing Agreement and collectively designated the "<u>VRR Interest</u>") will represent, in the aggregate, the entire beneficial ownership in the Issuing Entity, a common law trust to be formed on the Closing Date under the laws of the State of New York pursuant to the Pooling and Servicing Agreement. The Issuing Entity's primary assets are a pool of 35 commercial, multifamily and/or manufactured housing community mortgage loans (the "<u>Mortgage Loans</u>").

The funds used by the Registrant to pay the purchase price for the Mortgage Loans were derived from the proceeds of (i) the sale of the Publicly Offered Certificates by the Registrant to Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, AmeriVet Securities, Inc. and Siebert Williams Shank & Co., LLC (collectively, in such capacities, the "<u>Underwriters</u>"), pursuant to an Underwriting Agreement, dated as of December 9, 2025, between the Registrant, the Underwriters, as underwriters, and Morgan Stanley Mortgage Capital Holdings LLC ("<u>MSMCH</u>"), (ii) the sale of the Privately Offered Certificates by the Registrant to Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, AmeriVet Securities, Inc. and Siebert Williams Shank & Co., LLC (collectively, in such capacities, the "<u>Initial Purchasers</u>"), pursuant to a Certificate Purchase Agreement, dated as of December 9, 2025, between the Registrant, the Initial Purchasers, as initial purchasers, and MSMCH, and (iii) the transfer of the VRR Interest by the Registrant to Morgan Stanley Bank, N.A., Wells Fargo Bank, National Association, Bank of America, National Association and JPMorgan Chase Bank, National Association (in such capacity, the "<u>Retaining Parties</u>"), pursuant to a VRR Interest Transfer Agreement, dated as of December 9, 2025, between the Registrant and the Retaining Parties. Only the Publicly Offered Certificates were offered to the public. The Privately Offered Certificates and the VRR Interest were sold and transferred, as applicable, in transactions exempt from registration under the Securities Act of 1933, as amended.

The Registrant sold all of the Publicly Offered Certificates, having an aggregate certificate balance of $794,546,000, on December 23, 2025. The net proceeds of the offering to the Registrant of the issuance of the Publicly Offered Certificates, after deducting expenses payable by the Registrant of $6,569,716, were approximately $844,435,636 plus accrued interest from the cut-off date. Of the expenses paid by the Registrant, $100,000 were paid directly to affiliates of the Registrant, $50,000 were in the form of fees paid to the Underwriters unaffiliated with the Registrant, approximately $135,000 were expenses paid to or for the Underwriters and $6,284,716 were other expenses. All of the foregoing expense amounts are the Registrant's reasonable estimates of such expenses. No underwriting discounts and commissions or finder's fees were paid by the Registrant; the Publicly Offered Certificates were offered by the Underwriters for sale to the public in negotiated transactions or otherwise at varying prices determined at the time of sale. The Registrant also (i) sold to the Initial Purchasers on such date the Privately Offered Certificates, having an aggregate certificate balance of $107,067,063, and (ii) transferred to the Retaining Parties the VRR Interest, having a principal balance of $47,453,319.14.

Further information regarding such sales and the Mortgage Loans was previously provided on the Registrant's Current Report on Form 8-K, dated and filed on December 11, 2025 (including, as to the price per class of Publicly Offered Certificates in the Underwriting Agreement attached as an exhibit thereto) and in the Prospectus, dated December 10, 2025 and filed with the Securities and Exchange Commission on December 11, 2025. The related registration statement (file no. 333-282944) was originally declared effective on January 3, 2025.

In connection with the issuance and sale to the Underwriters of the Publicly Offered Certificates, a legal opinion was rendered related to the validity of, and certain federal income tax considerations relating to, the Publicly Offered Certificates, which legal opinion is attached hereto as <u>Exhibits 5.1</u>, <u>8.1</u> and <u>23.1</u>.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits:

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| | |
|:---|:---|
| [5.1](exh5-1.htm) | &nbsp;&nbsp;[Legality Opinion of Sidley Austin LLP, dated December 23, 2025.](exh5-1.htm) |
| [8.1](exh5-1.htm) | &nbsp;&nbsp;[Tax Opinion of Sidley Austin LLP, dated December 23, 2025 (included as part of Exhibit 5.1).](exh5-1.htm) |
| [23.1](exh5-1.htm) | &nbsp;&nbsp;[Consent of Sidley Austin LLP (included as part of Exhibit 5.1).](exh5-1.htm) |

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| MORGAN STANLEY CAPITAL I INC. | MORGAN STANLEY CAPITAL I INC. | MORGAN STANLEY CAPITAL I INC. |
| By: | /s/ Jane Lam | /s/ Jane Lam |
|  | Name: | Jane Lam |
|  | Title: | President |

---

Dated: December 23, 2025

*BANK5 2025-5YR19 – Form 8-K*

## Exhibit 5.1

**Exhibit 5.1** 

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| | |
|:---|:---|
| ![PPT_Sidley Austin LLP.gif](image_001.jpg) | Sidley Austin LLP<br> 787 Seventh Avenue<br> New York, NY 10019<br> +1 212 839 5300<br> +1 212 839 5599 Fax<br>AMERICA · ASIA PACIFIC · EUROPE |

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December 23, 2025

Morgan Stanley Capital I Inc.<br> 1585 Broadway<br> New York, New York 10036

Re: BANK5 2025-5YR19 <br> <u>Commercial Mortgage Pass-Through Certificates, Series 2025-5YR19</u>

To the Addressees of this Letter:

We have acted as counsel to Morgan Stanley Capital I Inc., a Delaware corporation (the "<u>Depositor</u>"), in connection with the issuance by BANK5 2025-5YR19 (the "<u>Trust</u>") of approximately $949,066,383 aggregate principal balance of Commercial Mortgage Pass-Through Certificates, Series 2025-5YR19, Class A-1, Class A-2, Class A-2-1, Class A-2-2, Class A-2-X1, Class A-2-X2, Class A-3, Class A-3-1, Class A-3-2, Class A-3-X1, Class A-3-X2, Class X-A, Class X-B, Class A-S, Class A-S-1, Class A-S-2, Class A-S-X1, Class A-S-X2, Class B, Class B-1, Class B-2, Class B-X1, Class B-X2, Class C, Class C-1, Class C-2, Class C-X1 and Class C-X2 (collectively, the "<u>Registered Certificates</u>"), Class X-D, Class X-E, Class X-F, Class X-G, Class X-H, Class D, Class E, Class F, Class G, Class H, Class V and Class R, Class RR and the RR Interest pursuant to the Pooling and Servicing Agreement, dated as of December 1, 2025 (the "<u>Pooling and Servicing Agreement</u>"), between the Depositor, as depositor, Trimont LLC, as master servicer, Torchlight Loan Services, LLC, as special servicer, Computershare Trust Company, National Association, as certificate administrator, certificate registrar, authenticating agent and custodian, Deutsche Bank National Trust Company, as trustee, and Pentalpha Surveillance LLC, as operating advisor and asset representations reviewer.

For purposes of rendering this opinion letter, we have reviewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Registration Statement on Form SF-3 (Registration No. 333-282944) relating to the Registered Certificates (the "<u>Registration Statement</u>"), filed with the Securities and Exchange Commission (the "<u>Commission</u>") under the Securities Act of 1933, as amended (the "<u>Act</u>"), on December 11, 2024 and declared effective on January 3, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Prospectus, dated December 10, 2025 (the "<u>Prospectus</u>") relating to the Registered Certificates;

Sidley Austin (NY) LLP is a Delaware limited liability partnership doing business as Sidley Austin LLP and practicing in affiliation with other Sidley Austin partnerships.

&nbsp;&nbsp; <br>Morgan Stanley Capital I Inc.<br>December 23, 2025<br>Page 2<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii) the Underwriting Agreement, dated as of December 9, 2025 (the "<u>Underwriting Agreement</u>"), between the Depositor, MSMCH, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, AmeriVet Securities, Inc. and Siebert Williams Shank & Co., LLC (together with Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and AmeriVet Securities, Inc., the "<u>Underwriters</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) evidence satisfactory to us with respect to the effectiveness of the Registration Statement under the Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the forms of the Registered Certificates attached as exhibits to the Pooling and Servicing Agreement.

In connection with the foregoing, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we deemed necessary for the purposes of this opinion letter. In our examination, we have assumed the following: (a) the genuineness of all signatures; (b) the legal capacity of natural persons; (c) the authenticity of all documents submitted to us as originals; (d) the conformity to original documents of all documents submitted to us as certified, photostatic or electronic copies and the authenticity of the originals of such documents; (e) the conformity of the text of each document filed with the Commission through its Electronic Data Gathering, Analysis and Retrieval system to the printed documents reviewed by us; and (f) the truth, accuracy and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates that we have reviewed. As to any facts material to the opinions expressed herein that were not known to us, we have relied upon (1) certificates, statements and representations of officers and other representatives of the Depositor and others, (2) a certificate of the Secretary of State of the State of Delaware as to the good standing of the Depositor, dated December 12, 2025 (the "<u>Delaware Good Standing Certificate</u>"), and (3) a certificate of the Secretary of State of the State of Delaware as to the certificate of incorporation of the Depositor, dated December 12, 2025 (the "<u>Delaware Certificate of Incorporation Certificate</u>" and, together with the Delaware Good Standing Certificate, the "<u>Delaware Certificates</u>").

Our opinions set forth below are subject to: (1) general principles of equity, including concepts of materiality, reasonableness, good faith and fair dealing and the doctrine of estoppel; (2) the possible unavailability of specific performance and injunctive relief, regardless of whether considered in a proceeding in equity or at law; (3) the effect of certain laws, rules, regulations and judicial and other decisions upon enforceability; (4) bankruptcy, insolvency, bail in, receivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium and other similar laws affecting the rights of creditors or secured parties generally, in each case, whether by operation of law, contract, judicial or regulatory action or otherwise, and the effect of, to the extent applicable, the rights of creditors or of secured creditors

&nbsp;&nbsp; <br>Morgan Stanley Capital I Inc.<br>December 23, 2025<br>Page 3<br>

of national banks or of "financial companies" (as defined in Section 201 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or their affiliates; and (5) public policy considerations underlying the securities laws, to the extent that such public policy considerations limit the enforceability of any provision of any agreement that purports or is construed to provide indemnification with respect to securities law violations.

Based upon and subject to the foregoing, we are of the opinion that—

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Registered Certificates, when duly executed, authenticated and delivered in accordance with the terms and conditions of the Pooling and Servicing Agreement, and when delivered to and paid for by the Underwriters pursuant to the Underwriting Agreement, will be legally and validly issued and outstanding, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The descriptions set forth under the caption "Material Federal Income Tax Considerations" in the Prospectus, although they do not discuss all U.S. federal income tax consequences that may be applicable to the individual circumstances of particular investors (some of which may be subject to special treatment under the Internal Revenue Code of 1986, as amended (the "<u>Code</u>")), otherwise correctly describe the material aspects of the U.S. federal income tax treatment of an investment in the Registered Certificates commonly applicable to investors that are U.S. Tax Persons (as defined in the Prospectus) and, where expressly indicated therein, to investors that are not U.S. Tax Persons. We also hereby confirm the opinion expressly set forth under such captions as our opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Depositor is validly existing and in good standing under the laws of the State of Delaware.

The opinion set forth in paragraph B above is limited to the U.S. federal income tax matters specifically covered thereby, and we have not been asked to address, nor have we addressed, any other tax consequences regarding the transaction referred to above or any other transaction. The opinion set forth in paragraph B above is based on the current provisions of the Code and the Treasury Regulations issued or proposed thereunder, revenue rulings, revenue procedures and other published releases of the Internal Revenue Service and current case law, any of which can change at any time. Any change can apply retroactively and modify the legal conclusions upon which such opinion is based.

This opinion letter is rendered as of the date hereof and we do not undertake, and hereby disclaim, any obligation to advise you of any changes in law or fact, whether or not material, that may be brought to our attention at a later date.

&nbsp;&nbsp; <br>Morgan Stanley Capital I Inc.<br>December 23, 2025<br>Page 4<br>

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the discussion of our opinions set forth in this opinion letter under the captions "Legal Matters" and "Material Federal Income Tax Considerations" in the Prospectus. In giving such consent, we do not consider that we are "experts" within the meaning of the term as used in the Act or the rules and regulations of the Commission issued thereunder, with respect to any part of the Registration Statement, including this opinion letter as an exhibit or otherwise.

We express no opinion as to any laws other than the federal laws of the United States of America, the laws of the State of New York and, solely with respect to the opinion set forth in paragraph (C) above, the Delaware General Corporation Law. We do not express any opinion, either implicitly or otherwise, on any issue not expressly addressed above. We express no opinion with respect to any Series of Certificates for which we do not act as counsel to the Depositor.

Very truly yours,<br>/s/ Sidley Austin LLP