# EDGAR Filing Document

**Accession Number:** 0002049300
**File Stem:** 0001888524-25-019106
**Filing Date:** 2025-10
**Character Count:** 19417
**Document Hash:** eb4021230feeb1cd7b31d523c789b539
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001888524-25-019106.hdr.sgml**: 20251031

**ACCESSION NUMBER**: 0001888524-25-019106

**CONFORMED SUBMISSION TYPE**: ABS-EE

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251020

**FILED AS OF DATE**: 20251031

**DATE AS OF CHANGE**: 20251031

**PERIOD START**: 20250912

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BBCMS Mortgage Trust 2025-C32
- **CENTRAL INDEX KEY:** 0002049300
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance

**FILING VALUES:**
- **FORM TYPE:** ABS-EE
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-276033-07
- **FILM NUMBER:** 251439373

**BUSINESS ADDRESS:**
- **STREET 1:** 745 SEVENTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-412-4000

**MAIL ADDRESS:**
- **STREET 1:** 745 SEVENTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

# **UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION <br> Washington D.C. 20549** 

# **FORM FOR SUBMISSION OF ELECTRONIC EXHIBITS FOR <br>ASSET-BACKED SECURITIES** 
Commission File Number of issuing entity: 333-276033-07 <br>

Central Index Key Number of Issuing entity: 0002049300

BBCMS Mortgage Trust 2025-C32<br>(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-276033

Central Index Key Number of depositor: 0001541480

Barclays Commercial Mortgage Securities LLC<br>(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001549574

Barclays Capital Real Estate Inc.<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001968416

Argentic Real Estate Finance 2 LLC<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001755531

Societe Generale Financial Corporation<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000740906

Wells Fargo Bank, National Association<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001722518

BSPRT CMBS Finance, LLC<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001685185

UBS AG<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001541294

German American Capital Corporation<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000927971

Bank of Montreal<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001548405

Starwood Mortgage Capital LLC<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001931347

Greystone Commercial Mortgage Capital LLC<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000109380

Zions Bancorporation, National Association<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001701238

Citi Real Estate Funding Inc.<br>(Exact name of Sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001089877

KeyBank National Association<br>(Exact name of Sponsor as specified in its charter)

Daniel Schmidt (212) 526-7000 <br>(Name and telephone number, including area code, of the person to contact in connection with this filing) <br>

INFORMATION TO BE INCLUDED IN THIS FORM

Item 1. File an Asset Data File in accordance with Exhibit 601(b)(102) (17 CFR 229.601(b)(102)).

Item 2. File an Asset Related Document in accordance with Exhibit 601(b)(103) (17 CFR 229.601(b)(103)).

SIGNATURES

The depositor has duly caused this Form to be signed on its behalf by the undersigned hereunto duly authorized.

Barclays Commercial Mortgage Securities LLC<br>(Depositor) <br>

/s/ Daniel Schmidt<br>Daniel Schmidt, Authorized Signatory

Dated : October 31, 2025 <br>

EXHIBIT INDEX

Exhibit Number Description <br> EX 102 Asset Data File <br> EX 103 Asset Related Document

## Exhibit 102: Asset Data File

|   Asset Number | Originator                                                                                               | Origination Date   | Original Loan Amount   | Maturity Date   |   Interest Rate (%) | Property Name                            | Property Type   | City            | State   |
|---:|:---|:---|:---|:---|---:|:---|:---|:---|:---|
|              1 | Barclays Capital Real Estate Inc., Societe Generale Financial Corporation, Citi Real Estate Funding Inc. | 12-04-2024         | $90000000.00           | 01-01-2035      |            0.06725  | The Shops at Mission Viejo               | RT              | Mission Viejo   | CA      |
|              2 |  | 10-02-2024         | $89000000.00           | 10-06-2034      |            0.066    | Greene Town Center                       | MU              | Beavercreek     | OH      |
|              3 | BSPRT CMBS Finance, LLC                                                                                  | 12-17-2024         | $70000000.00           | 01-06-2035      |            0.0699   | Metro Crossing Apartments                | MU              | Owings Mills    | MD      |
|              4 | UBS AG                                                                                                   | 12-11-2024         | $60000000.00           | 12-06-2034      |            0.06467  | Winn-Dixie Distribution Center Warehouse | WH              | Hammond         | LA      |
|              5 | Argentic Real Estate Finance 2 LLC                                                                       | 12-06-2024         | $52000000.00           | 12-06-2034      |            0.07755  | River East Garage                        | 98              | Chicago         | IL      |
|              6 | Societe Generale Financial Corporation                                                                   | 12-10-2024         | $47000000.00           | 01-01-2035      |            0.06538  | Aspen Grove                              | MF              | Warminster      | PA      |
|              7 | Wells Fargo Bank, National Association                                                                   | 12-27-2024         | $42500000.00           | 01-11-2035      |            0.06779  | The Barlow Market District               | MU              | Sebastopol      | CA      |
|              8 | Argentic Real Estate Finance 2 LLC                                                                       | 11-26-2024         | $39600000.00           | 12-06-2034      |            0.074604 | M6 Framingham                            | LO              | Framingham      | MA      |
|              9 | Argentic Real Estate Finance 2 LLC                                                                       | 11-26-2024         | $37000000.00           | 12-06-2034      |            0.075404 | M6 Leominster                            | LO              | Leominster      | MA      |
|             10 | Barclays Capital Real Estate Inc.                                                                        | 12-30-2024         | $36150000.00           | 01-06-2035      |            0.0675   | RTC Amazon                               | OF              | Redmond         | WA      |
|             11 | Barclays Capital Real Estate Inc.                                                                        | 11-22-2024         | $33900000.00           | 12-06-2034      |            0.06568  | Prince William Square                    | RT              | Woodbridge      | VA      |
|             12 | Societe Generale Financial Corporation                                                                   | 11-04-2024         | $28000000.00           | 11-05-2034      |            0.066    | Whitman Square                           | RT              | Philadelphia    | PA      |
|             13 | Greystone Select Company II LLC                                                                          | 09-13-2024         | $23000000.00           | 10-06-2034      |            0.0636   | Terrytown                                | MF              | Gretna          | LA      |
|             14 | UBS AG                                                                                                   | 11-26-2024         | $22500000.00           | 12-06-2034      |            0.0655   | Phoenix Industrial Portfolio XII         | IN              | Galesburg       | IL      |
|             15 | DBR Investments Co. Limited                                                                              | 12-20-2024         | $21500000.00           | 01-06-2035      |            0.07248  | Homewood Suites Carlsbad                 | LO              | Carlsbad        | CA      |
|             16 | Societe Generale Financial Corporation                                                                   | 10-18-2024         | $11210000.00           | 11-01-2034      |            0.06789  | Merrill & Garden                         | MF              | Milwaukee       | WI      |
|             17 | Societe Generale Financial Corporation                                                                   | 10-28-2024         | $8620000.00            | 11-01-2034      |            0.06887  | Havenwoods Portfolio                     | MF              | Milwaukee       | WI      |
|             18 | Bank of Montreal                                                                                         | 11-22-2024         | $18900000.00           | 12-06-2034      |            0.0623   | Legacy at Clover Blossom                 | MF              | Rochester       | NY      |
|             19 | Wells Fargo Bank, National Association                                                                   | 04-13-2023         | $18000000.00           | 05-11-2033      |            0.06524  | Somo Village                             | MU              | Rohnert Park    | CA      |
|             20 | Bank of Montreal                                                                                         | 12-23-2024         | $16000000.00           | 01-06-2035      |            0.0626   | EZ Storage Marina                        | SS              | Los Angeles     | CA      |
|             21 | Argentic Real Estate Finance 2 LLC                                                                       | 10-30-2024         | $15000000.00           | 11-06-2034      |            0.07058  | Commerce Boulevard Industrial            | IN              | Kissimmee       | FL      |
|             22 | Barclays Capital Real Estate Inc.                                                                        | 12-12-2024         | $14500000.00           | 01-06-2035      |            0.06912  | Hilton Garden Tampa Riverview            | LO              | Riverview       | FL      |
|             23 | Zions Bancorporation, N.A.                                                                               | 12-18-2024         | $14000000.00           | 01-06-2035      |            0.06737  | Hampton Inn & Suites Prescott Valley     | LO              | Prescott Valley | AZ      |
|             24 | Argentic Real Estate Finance 2 LLC                                                                       | 10-17-2024         | $13024000.00           | 11-06-2034      |            0.06773  | Bluffton Retail Center                   | RT              | Bluffton        | SC      |
|             25 | Starwood Mortgage Capital LLC                                                                            | 09-06-2024         | $12520000.00           | 09-06-2034      |            0.0693   | Pebble Walk Apartments                   | MF              | Houston         | TX      |
|             26 | UBS AG                                                                                                   | 12-10-2024         | $12400000.00           | 12-06-2034      |            0.06682  | Singleton Square                         | RT              | Norcross        | GA      |
|             27 | BSPRT CMBS Finance, LLC                                                                                  | 12-27-2024         | $12270000.00           | 01-06-2035      |            0.06955  | Mountainview Marketplace                 | RT              | Phoenix         | AZ      |
|             28 | Argentic Real Estate Finance 2 LLC                                                                       | 12-10-2024         | $11200000.00           | 01-06-2035      |            0.0704   | Glendale Plaza                           | RT              | Glendale        | AZ      |
|             29 | Societe Generale Financial Corporation                                                                   | 09-20-2024         | $10250000.00           | 10-01-2034      |            0.06479  | Menomonee Portfolio                      | MF              | Milwaukee       | WI      |
|             30 | Societe Generale Financial Corporation                                                                   | 11-26-2024         | $10060000.00           | 12-01-2034      |            0.06922  | Florist & Miller                         | MF              | Milwaukee       | WI      |
|             31 | Barclays Capital Real Estate Inc.                                                                        | 11-27-2024         | $8837000.00            | 12-06-2034      |            0.06278  | Villages of Mission Hills - Phase I      | MF              | Hamburg         | NY      |
|             32 | Societe Generale Financial Corporation                                                                   | 11-08-2024         | $8570000.00            | 12-01-2034      |            0.06915  | Parkside Apartments                      | MF              | Milwaukee       | WI      |
|             33 | Starwood Mortgage Capital LLC                                                                            | 12-05-2024         | $8300000.00            | 12-06-2034      |            0.0739   | Ogden Commons                            | RT              | Wilmington      | NC      |
|             34 | Barclays Capital Real Estate Inc.                                                                        | 12-06-2024         | $8250000.00            | 12-06-2034      |            0.0687   | Atrium Point                             | MU              | New Lenox       | IL      |
|             35 | Bank of Montreal                                                                                         | 12-04-2024         | $7300000.00            | 12-06-2034      |            0.0676   | Lowe's Timonium                          | RT              | Timonium        | MD      |
|             36 | KeyBank National Association                                                                             | 01-06-2025         | $7000000.00            | 02-01-2035      |            0.0593   | Storage Outlet - Gardena                 | SS              | Gardena         | CA      |
|             37 | Zions Bancorporation, N.A.                                                                               | 09-25-2024         | $6650000.00            | 10-06-2034      |            0.0635   | Fruitland Plaza                          | RT              | Fruitland       | MD      |
|             38 | Starwood Mortgage Capital LLC                                                                            | 11-12-2024         | $6600000.00            | 12-06-2034      |            0.06535  | StorPlace Mt. Juliet                     | SS              | Mt. Juliet      | TN      |
|             39 | Starwood Mortgage Capital LLC                                                                            | 12-19-2024         | $6400000.00            | 01-06-2035      |            0.08115  | Hampton Inn Houston Airport              | LO              | Humble          | TX      |
|             40 | Argentic Real Estate Finance 2 LLC                                                                       | 12-18-2024         | $6250000.00            | 01-06-2035      |            0.07894  | Fidelity Technologies                    | IN              | Reading         | PA      |
|             41 | Citi Real Estate Funding Inc.                                                                            | 12-27-2024         | $5887430.00            | 01-06-2035      |            0.0713   | Hacienda Square                          | RT              | El Cajon        | CA      |
|             42 | Zions Bancorporation, N.A.                                                                               | 12-19-2024         | $5450000.00            | 01-06-2035      |            0.06658  | 2044 East 13th Street                    | MF              | Brooklyn        | NY      |
|             43 | DBR Investments Co. Limited                                                                              | 12-12-2024         | $4100000.00            | 01-06-2035      |            0.06662  | Breckenridge Property                    | MH              | Bryon           | GA      |
|             44 | Greystone Select Company II LLC                                                                          | 05-03-2024         | $4000000.00            | 05-06-2034      |            0.0595   | Lowe's - Altoona PA                      | RT              | Altoona         | PA      |
|             45 | KeyBank National Association                                                                             | 12-27-2024         | $3835000.00            | 01-01-2035      |            0.0743   | Bulk-Pack                                | WH              | Harlingen       | TX      |
|             46 | KeyBank National Association                                                                             | 11-01-2024         | $3800000.00            | 11-01-2034      |            0.0669   | Mini U Storage - Merriman                | SS              | Livonia         | MI      |
|             47 | Greystone Select Company II LLC                                                                          | 06-25-2024         | $3200000.00            | 07-06-2034      |            0.0783   | SUM Self Storage                         | SS              | Morganton       | NC      |
|             48 | KeyBank National Association                                                                             | 11-01-2024         | $2900000.00            | 11-01-2034      |            0.0669   | Mini U Storage - Groesbeck               | SS              | Warren          | MI      |
|             49 | KeyBank National Association                                                                             | 11-19-2024         | $2497500.00            | 12-01-2034      |            0.0722   | Waynesboro Self-Storage                  | SS              | Waynesboro      | PA      |

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