# EDGAR Filing Document

**Accession Number:** 0001653542
**File Stem:** 0001853620-23-000023
**Filing Date:** 2023-1
**Character Count:** 40705
**Document Hash:** e6b2cf1c515b9fd296038bc2ef913be7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001853620-23-000023.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001853620-23-000023

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230118

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
- **CENTRAL INDEX KEY:** 0001653542
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-201743-02
- **FILM NUMBER:** 23561445

**BUSINESS ADDRESS:**
- **STREET 1:** BANK OF AMERICA CORPORATE CENTER
- **STREET 2:** 100 NORTH TYRON ST
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28255
- **BUSINESS PHONE:** 7043862400

**MAIL ADDRESS:**
- **STREET 1:** BANK OF AMERICA CORPORATE CENTER
- **STREET 2:** 100 NORTH TRYON STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28255

---

| |
|:---|
| **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** |

---

**FORM 10-D**

---

| |
|:---|
| **ASSET-BACKED ISSUER** |
| **DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF** |
| **THE SECURITIES EXCHANGE ACT OF 1934** |

---

For the monthly distribution period from <br> December 17, 2022 to January 18, 2023

Commission File Number of issuing entity: <u>333-201743-02</u>

Central Index Key Number of issuing entity: <u>0001653542</u>

<u>Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25</u> <br> (Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: <u>333-201743</u>

Central Index Key Number of depositor: <u>0001005007</u>

<u>Banc of America Merrill Lynch Commercial Mortgage Inc.</u> <br> (Exact name of depositor as specified in its charter)

---

| | |
|:---|:---|
| Central Index Key Number of sponsor: | <u>0001102113</u> |
|  | <u>0001541557</u> |
|  | <u>0001548567</u> |
|  | <u>0001682532</u> |

---

---

| |
|:---|
| <u>Bank of America, National Association</u> |
| <u>Morgan Stanley Mortgage Capital Holdings LLC</u> |
| <u>CIBC Inc.</u> |
| <u>Starwood Mortgage Funding III LLC</u> |
| (Exact name of sponsor(s) as specified in its charter) |

---

<u>Paul E. Kurzeja (980) 386-8509</u> <br> (Name and telephone number, including area code, of the person to contact in connection with this filing)

<u>NY</u> <br> (State or other jurisdiction of incorporation or organization of the issuing entity)

---

| |
|:---|
| <u>38-3981653</u> |
| <u>38-3981654</u> |
| <u>38-3981655</u> |
| (I.R.S. Employer Identification No.) |

---

c/o U.S. Bank National Association <br> <u>190 S. LaSalle Street</u> <br> (Address of principal executive offices of issuing entity)

<u>60603</u> <br> (Zip Code)

<u>312-332-7458</u> <br> (Telephone number, including area code)

<u>NOT APPLICABLE</u> <br> (Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | | Name of exchange |
| Title of Class | Section 12(b) | Section 12(g) | Section 15(d) | (If Section 12(b)) |
| A-1 | ☐ | ☐ | ☒ | _______ |
| A-2 | ☐ | ☐ | ☒ | _______ |
| A-SB | ☐ | ☐ | ☒ | _______ |
| A-3 | ☐ | ☐ | ☒ | _______ |
| A-4 | ☐ | ☐ | ☒ | _______ |
| A-5 | ☐ | ☐ | ☒ | _______ |
| X-A | ☐ | ☐ | ☒ | _______ |
| X-B | ☐ | ☐ | ☒ | _______ |
| X-D | ☐ | ☐ | ☒ | _______ |
| A-S | ☐ | ☐ | ☒ | _______ |
| B | ☐ | ☐ | ☒ | _______ |
| C | ☐ | ☐ | ☒ | _______ |
| D | ☐ | ☐ | ☒ | _______ |

---

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days? Yes ☒ No ☐

---

| |
|:---|
| **PART I - DISTRIBUTION INFORMATION ITEM** |
| **1. Distribution and Pool Performance Information.** |
| On January 18, 2023 a distribution was made to holders of Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25. The monthly report to holders is attached as Exhibit 99.1. |
| No assets securitized by Banc of America Merrill Lynch Commercial Mortgage Inc. and held by Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25 were the subject of a demand to repurchase or replace for breach of the representations and warranties contained in the underlying transaction documents during the monthly distribution period covered by this distribution report on Form 10-D. |

---

Morgan Stanley Mortgage Capital Holdings LLC filed its most recent Form ABS-15G under Rule 15Ga-1 under the Securities Exchange Act of 1934 ("Rule 15Ga-1") on November 14, 2022. The CIK number of Morgan Stanley Mortgage Capital Holdings LLC is 0001541557.

Bank of America, National Association filed its most recent Form ABS-15G under Rule 15Ga-1 under the Securities Exchange Act of 1934 ("Rule 15Ga-1") on November 10, 2022. The CIK number of Bank of America, National Association is 0001102113.

CIBC Inc. filed its most recent Form ABS-15G under Rule 15Ga-1 under the Securities Exchange Act of 1934 ("Rule 15Ga-1") on February 11, 2022. The CIK number of CIBC Inc. is 0001548567.

Starwood Mortgage Funding III LLC filed its most recent Form ABS-15G under Rule 15Ga-1 under the Securities Exchange Act of 1934 ("Rule 15Ga-1") on January 19, 2022. The CIK number for Starwood Mortgage Funding III LLC is 0001682532.

---

| |
|:---|
| **PART II - OTHER INFORMATION ITEM** |
| **Item 9. Other Information.** |
| Wells Fargo Bank, N.A. in its capacity as Master Servicer for Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25, affirms the following amounts in the respective accounts: |

---

---

| | |
|:---|:---|
| Collection Account Balance | Collection Account Balance |
| Prior Distribution Date: December 16, 2022 | $0.00 |
| Current Distribution Date: January 18, 2023 | $0.00 |

---

---

| | |
|:---|:---|
| \*REO Account Balance | \*REO Account Balance |
| Prior Distribution Date: December 16, 2022 | $0.00 |
| Current Distribution Date: January 18, 2023 | $0.00 |

---

\*As provided by the Special Servicer

U.S. Bank National Association, in its capacity as Certificate Administrator for Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25, affirms the following amounts in the respective accounts:

---

| | |
|:---|:---|
| Distribution Account Balance | Distribution Account Balance |
| Prior Distribution Date: December 16, 2022 | $2186.70 |
| Current Distribution Date: January 18, 2023 | $2234.91 |

---

---

| | |
|:---|:---|
| Interest Reserve Account Balance | Interest Reserve Account Balance |
| Prior Distribution Date: December 16, 2022 | $0.00 |
| Current Distribution Date: January 18, 2023 | $0.00 |

---

---

| | |
|:---|:---|
| Excess Liquidation Proceeds Account Balance | Excess Liquidation Proceeds Account Balance |
| Prior Distribution Date: December 16, 2022 | $0.00 |
| Current Distribution Date: January 18, 2023 | $0.00 |

---

---

| | |
|:---|:---|
| TA Unused Fees Account Balance | TA Unused Fees Account Balance |
| Prior Distribution Date: December 16, 2022 | $0.00 |
| Current Distribution Date: January 18, 2023 | $0.00 |

---

---

| |
|:---|
| **Item 10. Exhibits.** |
| (a) The following is a list of documents filed as part of this Report on Form 10-D: |
| (99.1) [Monthly report distributed to holders of Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25, relating to the January 18, 2023 distribution.](msbam2015c25.htm) |
| (b) The exhibits required to be filed by the Registrant pursuant to this form are listed in the Exhibit Index that immediately follows on the signature page hereof. |

---

**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 thereunto duly authorized.

 Banc of America Merrill Lynch Commercial Mortgage Inc. <br> (Depositor)

---

| | |
|:---|:---|
| Date: January 26, 2023 | <u>/s/ Leland F. Bunch, III</u> |
| | Name: Leland F. Bunch, III |
| | Title: President and Chief Executive Officer |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **<u>Exhibit</u>** | **<u>Description</u>** |

---

Exhibit 99.1 [Monthly report distributed to holders of Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25, relating to the January 18, 2023 distribution.](msbam2015c25.htm)

## Exhibit 99.1

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **DATES**

Payment Date: Jan 18, 2023
Prior Payment: Dec 16, 2022
Next Payment: Feb 17, 2023
Record Date: Dec 30, 2022
Determination Date: Jan 11, 2023
First Payment Date: Nov 18, 2015
Closing Date: Oct 15, 2015
Final Distribution Date: Oct 19, 2048

# **TABLE OF CONTENTS**

Payment Detail Page 1
Factor Detail Page 2
Principal Detail Page 3
Interest Detail Page 4
Reconciliation of Funds Page 5
Miscellaneous Detail Page 6
Bond/Collateral Realized Loss Reconciliation Page 7
Historical Delinquency & Liquidation (Stated) Page 8
Delinquency Summary Report Page 9
Historical Liquidation Loss Loan Detail Page 10
Interest Adjustment Reconciliation Page 11
Appraisal Reduction Report Page 12
Loan Level Detail Page 13
Historical Loan Modification Report Page 15
REO Status Report Page 16
Deceased Loan Detail Page 17
Material Breaches and Document Defects Page 18

# **ADMINISTRATOR**

Name: Faseeh Ejaz
Title: Account Administrator

Address: 190 S La Salle St
Chicago, IL 60603

Phone: 312.416.6559
Email: faseeh.ejaz@usbank.com
Website: https://pivot.usbank.com/

# **PARTIES TO THE TRANSACTION**

Mortgage Loan Seller: Bank of America, National Association

CIBC Inc.

Morgan Stanley Mortgage Capital Holdings LLC

Starwood Mortgage Funding III LLC

Depositor: Bank of America Merrill Lynch Commercial Mortgage

Trustee: U.S. Bank

Certificate Administrator: U.S. Bank

Master Servicer: Wells Fargo Bank, National Association

Special Servicer: LNR Partners, LLC

Trust Advisor: Pentalpha Surveillance LLC

Rating Agency: Fitch Ratings, Inc.

Rating Agency: Knoll Bond Rating Agency, Inc.

Rating Agency: Moody's Investors Service, Inc.

* This report contains, or is based on, information furnished to U.S. Bank Global Corporate Trust ("U.S. Bank") by one or more third parties (e.g. Servicers, Master Servicer, etc.), and U.S. Bank has not independently verified information received from any such third party.

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **PAYMENT DETAIL**

| Class | Pass-Thru Rate | Original Balance | Beginning Balance | Principal Distribution | Interest Distribution | Total Distribution | Realized Loss |
| --- | --- | --- | --- | --- | --- | --- | --- |
| A-1 | 1.61500% | 34,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A-2 | 2.80100% | 28,700,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A-SB | 3.38300% | 93,700,000.00 | 44,184,002.72 | 1,289,902.20 | 124,562.07 | 1,414,464.27 | 0.00 |
| A-3 | 3.28000% | 115,000,000.00 | 87,868,475.81 | 0.00 | 240,173.83 | 240,173.83 | 0.00 |
| A-4 | 3.37200% | 230,000,000.00 | 230,000,000.00 | 0.00 | 646,300.00 | 646,300.00 | 0.00 |
| A-5 | 3.63500% | 324,193,000.00 | 324,193,000.00 | 0.00 | 982,034.63 | 982,034.63 | 0.00 |
| A-S | 4.06900% | 45,702,000.00 | 45,702,000.00 | 0.00 | 154,967.87 | 154,967.87 | 0.00 |
| B | 4.52350% | 89,931,000.00 | 89,931,000.00 | 0.00 | 339,002.77 | 339,002.77 | 0.00 |
| C | 4.52350% | 56,022,000.00 | 56,022,000.00 | 0.00 | 211,179.83 | 211,179.83 | 0.00 |
| D | 3.06800% | 63,394,000.00 | 63,394,000.00 | 0.00 | 162,077.33 | 162,077.33 | 0.00 |
| E | 4.52350% | 29,485,000.00 | 29,485,000.00 | 0.00 | 111,146.29 | 111,146.29 | 0.00 |
| F | 4.52350% | 13,269,000.00 | 13,269,000.00 | 0.00 | 50,018.66 | 50,018.66 | 0.00 |
| G | 4.52350% | 56,022,010.00 | 54,098,108.79 | 0.00 | 200,700.48 | 200,700.48 | 0.00 |
| X-A | 1.03833% | 825,593,000.00 | 686,245,478.53 | 0.00 | 593,791.82 | 593,791.82 | 0.00 |
| X-B | 0.45450% | 45,702,000.00 | 45,702,000.00 | 0.00 | 17,309.82 | 17,309.82 | 0.00 |

| X-D | 1.45550% | 63,394,000.00 | 63,394,000.00 | 0.00 | 76,891.90 | 76,891.90 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| R | 0.00000% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| V | 0.00000% | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |

| Totals: | 1,179,418,010.00 | 1,038,146,587.32 | 1,289,902.20 | 3,910,157.29 | 5,200,059.49 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25  
Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **FACTOR DETAIL**

| Class | Cusip | Beginning Balance | Principal Distribution | Interest Distribution | Total Distribution | Collateral Support Deficit |
| --- | --- | --- | --- | --- | --- | --- |
| A-1 | 61765TAA1 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 |
| A-2 | 61765TAB9 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 |
| A-SB | 61765TAC7 | 471.54752102 | 13.76629883 | 1.32937105 | 15.09566988 | 0.00000000 |
| A-3 | 61765TAD5 | 764.07370270 | 0.00000000 | 2.08846812 | 2.08846812 | 0.00000000 |
| A-4 | 61765TAE3 | 1,000.00000000 | 0.00000000 | 2.81000000 | 2.81000000 | 0.00000000 |
| A-5 | 61765TAF0 | 1,000.00000000 | 0.00000000 | 3.02916667 | 3.02916667 | 0.00000000 |
| A-S | 61765TAK9 | 1,000.00000000 | 0.00000000 | 3.39083333 | 3.39083333 | 0.00000000 |
| B | 61765TAL7 | 1,000.00000000 | 0.00000000 | 3.76958747 | 3.76958747 | 0.00000000 |
| C | 61765TAM5 | 1,000.00000000 | 0.00000000 | 3.76958747 | 3.76958747 | 0.00000000 |
| D | 61765TAN3 | 1,000.00000000 | 0.00000000 | 2.55666667 | 2.55666667 | 0.00000000 |
| E | 61765TAP8 / U6182BAA7 / 61765TAQ6 | 1,000.00000000 | 0.00000000 | 3.76958747 | 3.76958747 | 0.00000000 |
| F | 61765TAR4 / U6182BAB5 / 61765TAS2 | 1,000.00000000 | 0.00000000 | 3.76958747 | 3.76958747 | 0.00000000 |
| G | 61765TATO / U6182BAC3 / 61765TAU7 | 965.65811884 | 0.00000000 | 3.58252905 | 3.58252905 | 0.00000000 |
| X-A | 61765TAG8 | 831.21523381 | 0.00000000 | 0.71923069 | 0.71923069 | 0.00000000 |
| X-B | 61765TAH6 | 1,000.00000000 | 0.00000000 | 0.37875413 | 0.37875413 | 0.00000000 |
| X-D | 61765TAJ2 | 1,000.00000000 | 0.00000000 | 1.21292080 | 1.21292080 | 0.00000000 |
| R | 61765TAX1 / U6182BAE9 / 61765TAY9 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 |
| V | 61765TAV5 / U6182BAD1 / 61765TAW3 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 | 0.00000000 |

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25  
Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **PRINCIPAL DETAIL**

| Class | Beginning Balance | Scheduled Principal | Unscheduled Principal | Excess Trust |  | Collateral Support Deficit | Ending Balance |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  | Advisor Expenses Allocation |  |  |  |
| A-1 | 0.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 0.00 |
| A-2 | 0.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 0.00 |
| A-SB | 44,184,002.72 | 1,289,902.20 | 0.00 | 0.00 |  | 0.00 | 42,894,100.52 |
| A-3 | 87,868,475.81 | 0.00 | 0.00 | 0.00 |  | 0.00 | 87,868,475.81 |
| A-4 | 230,000,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 230,000,000.00 |
| A-5 | 324,193,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 324,193,000.00 |
| A-S | 45,702,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 45,702,000.00 |
| B | 89,931,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 89,931,000.00 |
| C | 56,022,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 56,022,000.00 |
| D | 63,394,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 63,394,000.00 |
| E | 29,485,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 29,485,000.00 |
| F | 13,269,000.00 | 0.00 | 0.00 | 0.00 |  | 0.00 | 13,269,000.00 |
| G | 54,098,108.79 | 0.00 | 0.00 | 0.00 |  | 0.00 | 54,098,108.79 |

Totals: 1,038,146,587.32 1,289,902.20 0.00 0.00 0.00 1,036,856,685.12

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25  
Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **INTEREST DETAIL**

| Class | Accrued Certificate Interest | Net Prepay Interest Shortfall | Trust Advisor Expenses Allocation | Current Interest Shortfall | Extension Fees | Prepayment Premium | Additional Interest Amount | Accrued Unpaid Addt'l Interest Amt | Total Interest Distribution Amount |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| A-1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A-2 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| A-SB | 124,562.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 124,562.07 |
| A-3 | 240,173.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 240,173.83 |
| A-4 | 646,300.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 646,300.00 |
| A-5 | 982,034.63 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 982,034.63 |
| A-S | 154,967.87 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 154,967.87 |
| B | 339,002.77 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 339,002.77 |
| C | 211,179.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 211,179.83 |
| D | 162,077.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 162,077.33 |
| E | 111,146.29 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 111,146.29 |
| F | 50,018.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 50,018.66 |
| G | 203,927.55 | 0.00 | 0.00 | 3,227.07 | 0.00 | 0.00 | 0.00 | 0.00 | 200,700.48 |
| X-A | 593,791.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 593,791.82 |
| X-B | 17,309.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17,309.82 |
| X-D | 76,891.90 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 76,891.90 |
| R | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |

Totals: 3,913,384.36 0.00 0.00 3,227.07 0.00 0.00 0.00 0.00 3,910,157.29

* Includes additional interest amounts specifically allocated to the bonds and used in determining the bonds total interest distribution amount

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **RECONCILIATION OF FUNDS**

# **Funds Collection**

# **Funds Distribution**

| Interest |  | Fees |  |
| --- | --- | --- | --- |
| Scheduled Interest | 4,060,688.62 | Servicing Fee | 13,188.62 |
| Interest Adjustments | (17,850.27) | Trustee/Certificate Administrator Fee | 2,234.91 |
| Deferred Interest | 0.00 | Special Servicing Fee | 3,227.07 |
| Net Prepayment Shortfall | 0.00 | Workout Fee | 0.00 |
| Net Prepayment Interest Excess | 0.00 | Liquidation Fee | 0.00 |
| Interest Reserve (Deposit)/Withdrawal | (130,446.15) | Special Serv Fee plus Adj. | 0.00 |
| Interest Collections | 3,912,392.20 | CREFC Intellectual Property Royalty License Fee | 446.99 |
|  |  | Trust Advisor Fee | 987.59 |
|  |  | Extension Fee | 0.00 |
| Principal |  | Fee Distributions | 20,085.18 |
| Scheduled Principal | 1,289,902.20 |  |  |
| Unscheduled Principal | 0.00 | Other Expenses of the Trust |  |
| Principal Adjustments | 0.00 | Reimbursed for Interest on Advances | 0.00 |
| Principal Collections | 1,289,902.20 | Net ASER Amount | 0.00 |
|  |  | Non-Recoverable Advances | 0.00 |
|  |  | Other Expenses or Shortfalls | 0.00 |
|  |  | Other Expenses of the Trust | 0.00 |
| Other |  |  |  |
| Prepayment Premium | 0.00 | Payments to Certificateholders |  |
| Other Collections | 0.00 | Interest Distribution | 3,910,157.29 |
|  |  | Principal Distribution | 1,289,902.20 |
| Total Collections | 5,202,294.40 | Prepayment Premium | 0.00 |
|  |  | Available Distribution Amount | 5,200,059.49 |
|  |  | Total Distributions | 5,202,294.40 |
| Interest Accrual Period | Start 12/1/2022 End 12/31/2022 |  |  |

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **MISCELLANEOUS DETAIL**

|  | Advances | Miscellaneous |
| --- | --- | --- |
| P&I Advances |  | Beginning Stated Principal Balance |
|  | * Total Current Advance | Ending Stated Principal Balance |
| Total | Not Provided | Ending Unpaid Balance |

Unreimbursed Advances

Mortgage Loan Count
Aggregate Principal Balance

|  | Current Advance | Outstanding Advance | Total Servicing Adv. Outstanding |
| --- | --- | --- | --- |
| Total | 0.00 | 88,215.50 | 66,393.37 |

Weighted Average Months to Maturity (WAMM)
Weighted Average Mortgage Rate

Disclosable Special Servicer Fees

|  | Special Servicer/Affiliates |
| --- | --- |
| Commission | 0.00 |
| Brokerage Fee | 0.00 |
| Rebate | 0.00 |
| Shared Fee | 0.00 |
| Total | 0.00 |

**Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

**BOND/COLLATERAL REALIZED LOSS RECONCILIATION**

| Loan ID | Period | Beginning Balance of the Loan at Liquidation | Aggregate Realized Loss on Loans | Prior Realized Loss Applied to Certificates A | Amounts Covered by Overcollateralization and other Credit Support B | Interest (Shortages) / Excesses applied to Realized Loss C | Modification Adjustments / Appraisal Reduction Adjustment D | Additional (Recoveries) / Expenses applied to Realized Loss E | Current Realized Loss Applied to Certificates* | Recoveries of Realized Losses paid as Case |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 34 | Dec 2022 | 10,087,928.20 | 1,923,901.58 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,923,901.58 | 0.00 |
| Loan Count: | 1 | Totals: | 1,923,901.58 |  | 0.00 | 0.00 | 0.00 | 0.00 | 1,923,901.58 | 0.00 |

Description of Fields

*In the Initial Period the Current Realized Loss Applied to Certificates will equal Aggregate Realized Loss on Loans - B - C - D + E instead of A - C - D + E

- A Prior Realized Loss Applied to Certificates
- B Reduction to Realized Loss applied to bonds (could represent OC, insurance policies, reserve accounts, etc)
- C Amounts classified by the Master as interest adjustments from general collections on a loan with a Realized Loss
- D Adjustments that are based on principal haircut or future interest foregone due to modification
- E Realized Loss Adjustments, Supplemental Recoveries or Expenses on a previously liquidated loan

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**
**HISTORICAL DELINQUENCY & LIQUIDATION SUMMARY (STATED BALANCE)**

| Month | 30 Days Delinq (1) |  | 60 Days Delinq (1) |  | 90+ Days Delinq (1) |  | Bankruptcy |  | Foreclosure |  | REO |  | Prepay |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Count | Balance | % (2) Count | Balance | % (2) Count | Balance | % (2) Count | Balance | % (2) Count | Balance | % (2) Count | Balance | % (2) Count | Balance |
| Jan 2023 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Dec 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 0.00 |
| Nov 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,087,928.20 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Oct 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,106,426.95 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Sep 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,126,203.89 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Aug 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,144,543.87 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Jul 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,162,807.78 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Jun 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 10,182,358.37 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| May 2022 | 0 | 0.00 | 0.0% 1 | 10,200,465.43 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 0.00 |
| Apr 2022 | 1 | 10,219,864.84 | 1.0% 0 | 0.00 | 0.0% 1 | 15,222,596.32 | 1.4% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Mar 2022 | 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 1 | 15,250,152.52 | 1.4% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Feb 2022 | 0 | 0.00 | 0.0% 1 | 10,259,811.75 | 1.0% 1 | 15,283,471.51 | 1.4% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Jan 2022 | 1 | 10,277,597.54 | 1.0% 0 | 0.00 | 0.0% 1 | 15,310,786.02 | 1.4% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Dec 2021 | 0 | 0.00 | 0.0% 2 | 25,633,301.64 | 2.4% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |
| Nov 2021 | 0 | 0.00 | 0.0% 1 | 15,367,058.24 | 1.4% 1 | 10,314,328.19 | 1.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 | 0.0% 0 | 0.00 |

(1) Exclusive of loans in Bankruptcy, Foreclosure and REO

(2) Percentage in relation to Ending Scheduled Balance

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **Delinquency Summary Report**

| Group 1 | Current | 30 - 59 days | 60 - 89 days | 90 - 120 days | 121 + days | TOTAL |
| --- | --- | --- | --- | --- | --- | --- |
| Delinquent | Loan Count | 56 | 0 | 0 | 0 | 56 |
|  | Sched Bal | 1,036,856,685.12 | 0.00 | 0.00 | 0.00 | 1,036,856,685.12 |
|  | Percentage* | 100.00% | 0.00% | 0.00% | 0.00% | 100.00% |
| Bankruptcy | Actual Bal | 1,036,885,277.25 | 0.00 | 0.00 | 0.00 | 1,036,885,277.25 |
|  | Loan Count | 0 | 0 | 0 | 0 | 0 |
|  | Sched Bal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreclosure | Percentage* | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
|  | Actual Bal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  | Loan Count | 0 | 0 | 0 | 0 | 0 |
| REO | Sched Bal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
|  | Percentage* | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
|  | Actual Bal | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| TOTAL | Loan Count | 56 | 0 | 0 | 0 | 56 |
|  | Sched Bal | 1,036,856,685.12 | 0.00 | 0.00 | 0.00 | 1,036,856,685.12 |
|  | Percentage* | 100.00% | 0.00% | 0.00% | 0.00% | 100.00% |
|  | Actual Bal | 1,036,885,277.25 | 0.00 | 0.00 | 0.00 | 1,036,885,277.25 |

* Percentages are based on scheduled balance as a percent of total pool scheduled balance.

# ---**Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**  
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **HISTORICAL LIQUIDATION LOSS LOAN DETAIL**

| Loan ID | Liquidation Month | Liquidation / Prepayment Code * | Current Beginning Scheduled Balance | Most Recent Value ** | Net Proceeds Received on Liquidation | Liquidation Expense | Net Proceeds Available for Distribution | Rea |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 34 | Dec 2022 | 3 | 10,087,928.20 | 10,300,000.00 | 9,000,145.74 | 836,119.12 | 8,164,026.62 |  |
| Count: 1 | Totals: |  | 10,087,928.20 | 10,300,000.00 | 9,000,145.74 | 836,119.12 | 8,164,026.62 |  |

\* Liquidation / Prepayment Code: 1 - Partial Liq's (Curtailment); 2 - Payoff Prior To Maturity; 3 - Disposition / Liquidation; 4 - Repurchase/ Substitution; 5 - Full Payoff At Maturity; 6 - DPO; 7 - Liquidated; 8 - Payoff w/ penalty; 9 - Payoff w/ yield Maintenance; 10 - Curtailment w/ Penalty; 11 - Curtailment w/ Yield Maintenance

\*\* Reported as of liquidation period. If not provided by the servicer, Most Recent Value is as of cutoff.

---

**Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**  
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

**INTEREST ADJUSTMENT RECONCILIATION**

| Loan ID | Current Ending Scheduled Balance | Special Servicing Fee Amount plus Adjustments | Liquidation Fee Amount | Workout Fee Amount | Most Recent Net ASER Amount | Prepayment Interest (Excess)/ Shortfall * | Non- Recoverable (Scheduled Interest Not Advanced)** | Reimbursed Interest on Advances | Modified Interest Rate Reduction/ (Excess) | Reimbursement of Advances to Servicer |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  | Current Month | Outstanding |
| 21 | 14,961,675.68 | 3,227.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Count: | 1 |  |  |  |  |  |  |  |  |  |  |
| Totals: | 14,961,675.68 | 3,227.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |

**Total Interest Shortfall hitting the Trust: 3,227.07**

*Total shortfall may not match impact to bonds due to, but not limited to, the net effect of PPIE and Master Servicing fees received as per the governing documents.

**In some cases, the Servicer does not withhold their Servicing Fees on Non-Recoverable loans.

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **APPRAISAL REDUCTION REPORT**

| Loan ID | Property Name | Paid Through Date | ARA (Appraisal Reduction Amount) | ARA Date | Most Recent Value | Most Recent Valuation Date | Most Recent Net ASER Amount | Cumulative ASER Amount |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

**Count: Totals:**

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **LOAN LEVEL DETAIL**

| Loan ID | Property Type | Transfer Date | Stat | Maturity Date | Neg Am | End Schedule Balance | Note Rate | Sched P&I | Prepay Adj | Prepay Date | Paid Thru | Prepay Premium | Loan Status ** | Interest Payment | Yield Main Charges |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | Mixed Use |  | NY | 01/07/24 | N | 90,000,000.00 | 4.510 | 349,525.00 | 0.00 |  | 01/07/23 | 0.00 | 0 | 349,525.00 | 0.00 |
| 1A |  |  |  | 01/07/24 | N | 25,000,000.00 | 4.510 | 97,090.28 | 0.00 |  | 01/07/23 | 0.00 | 0 | 97,090.28 | 0.00 |
| 2 | Office |  | NY | 09/01/25 | N | 110,000,000.00 | 4.420 | 418,672.22 | 0.00 |  | 01/01/23 | 0.00 | 0 | 418,672.22 | 0.00 |
| 3 | Lodging |  | LA | 08/06/25 | N | 37,026,194.39 | 4.710 | 220,676.59 | 0.00 |  | 01/01/23 | 0.00 | 0 | 150,456.87 | 0.00 |
| 3A |  |  |  | 08/06/25 | N | 34,848,183.34 | 4.710 | 207,695.61 | 0.00 |  | 01/06/23 | 0.00 | 0 | 141,606.47 | 0.00 |
| 4 | Various |  | XX | 07/01/25 | N | 23,598,792.83 | 4.605 | 128,235.81 | 0.00 |  | 01/01/23 | 0.00 | 0 | 93,715.93 | 0.00 |
| 4A |  |  |  | 07/01/25 | N | 18,879,034.19 | 4.605 | 102,588.65 | 0.00 |  | 01/01/23 | 0.00 | 0 | 74,972.75 | 0.00 |
| 4B |  |  |  | 07/01/25 | N | 9,439,517.30 | 4.605 | 51,294.32 | 0.00 |  | 01/01/23 | 0.00 | 0 | 37,486.37 | 0.00 |
| 4C |  |  |  | 07/01/25 | N | 4,719,758.62 | 4.605 | 25,647.16 | 0.00 |  | 01/01/23 | 0.00 | 0 | 18,743.19 | 0.00 |
| 5 | Various |  | XX | 08/01/25 | N | 54,795,959.57 | 4.640 | 304,129.72 | 0.00 |  | 01/01/23 | 0.00 | 0 | 219,279.33 | 0.00 |
| 6 | Multifamily |  | MD | 07/01/25 | N | 52,213,460.21 | 4.370 | 271,650.37 | 0.00 |  | 01/01/23 | 0.00 | 0 | 196,763.95 | 0.00 |
| 7 | Office |  | CA | 08/01/25 | N | 48,034,873.13 | 4.402 | 250,424.76 | 0.00 |  | 01/01/23 | 0.00 | 0 | 182,318.98 | 0.00 |
| 8 | Retail |  | CA | 08/01/25 | N | 36,478,452.16 | 4.584 | 214,896.67 | 0.00 |  | 01/01/23 | 0.00 | 0 | 144,255.72 | 0.00 |
| 9 | Office |  | PA | 09/01/25 | N | 27,140,883.99 | 4.960 | 161,649.85 | 0.00 |  | 01/01/23 | 0.00 | 0 | 116,116.21 | 0.00 |
| 10 | Various |  | XX | 09/01/25 | N | 26,795,452.42 | 4.292 | 137,814.50 | 0.00 |  | 01/01/23 | 0.00 | 0 | 99,175.82 | 0.00 |
| 11 | Mixed Use |  | CT | 09/01/25 | N | 25,122,002.77 | 4.292 | 131,634.48 | 0.00 |  | 01/01/23 | 0.00 | 0 | 92,990.95 | 0.00 |
| 12 | Office |  | NJ | 08/01/25 | N | 22,032,021.45 | 4.770 | 123,916.29 | 0.00 |  | 01/01/23 | 0.00 | 0 | 90,633.24 | 0.00 |
| 13 | Retail | 04/05/18 | PA | 08/01/25 | N | 20,805,015.83 | 4.750 | 112,675.82 | 0.00 |  | 01/01/23 | 0.00 | 0 | 85,210.63 | 0.00 |
| 14 | Multifamily |  | PA | 08/01/25 | N | 19,875,811.32 | 4.372 | 107,308.29 | 0.00 |  | 01/01/23 | 0.00 | 0 | 74,949.84 | 0.00 |
| 15 | Mixed Use |  | IL | 07/06/25 | N | 20,127,616.74 | 4.286 | 103,750.44 | 0.00 |  | 01/06/23 | 0.00 | 0 | 74,393.79 | 0.00 |
| 16 | Retail |  | ID | 08/01/25 | N | 17,176,176.51 | 4.134 | 97,034.55 | 0.00 |  | 01/01/23 | 0.00 | 0 | 61,271.64 | 0.00 |
| 17 | Multifamily |  | VA | 09/06/25 |  |  |  |  |  | 05/05/21 |  |  |  |  |  |
| 18 | Multifamily |  | NV | 08/01/25 | N | 16,670,786.73 | 4.501 | 91,214.05 | 0.00 |  | 01/01/23 | 0.00 | 0 | 64,716.36 | 0.00 |
| 19 | Multifamily |  | FL | 08/01/25 | N | 17,209,315.17 | 4.500 | 90,696.67 | 0.00 |  | 01/01/23 | 0.00 | 0 | 66,778.78 | 0.00 |
| 20 | Retail |  | WA | 08/01/25 | N | 16,065,144.05 | 4.284 | 85,944.24 | 0.00 |  | 01/01/23 | 0.00 | 0 | 59,362.38 | 0.00 |
| 21 | Various | 11/22/21 | XX | 09/01/25 | N | 14,961,675.68 | 4.629 | 88,344.58 | 0.00 |  | 12/01/22 | 0.00 | B | 59,752.46 | 0.00 |
| 22 | Office |  | OK | 08/01/25 | N | 15,908,896.96 | 4.891 | 87,479.67 | 0.00 |  | 01/01/23 | 0.00 | 0 | 67,089.29 | 0.00 |
| 23 | Office |  | NV | 09/06/25 | N | 14,946,523.68 | 4.672 | 84,780.82 | 0.00 |  | 01/06/23 | 0.00 | 0 | 60,230.29 | 0.00 |
| 24 | Industrial |  | KY | 08/01/25 | N | 15,975,000.00 | 4.755 | 65,410.97 | 0.00 |  | 01/01/23 | 0.00 | 0 | 65,410.97 | 0.00 |
| 25 | Multifamily |  | OH | 07/01/25 | N | 14,374,442.43 | 4.265 | 73,922.76 | 0.00 |  | 01/01/23 | 0.00 | 0 | 52,869.46 | 0.00 |
| 26 | Retail |  | CA | 08/01/25 | N | 13,639,247.69 | 4.390 | 73,775.13 | 0.00 |  | 01/01/23 | 0.00 | 0 | 51,643.81 | 0.00 |
| 27 | Retail |  | OH | 08/06/25 | N | 13,830,312.26 | 4.480 | 74,055.41 | 0.00 |  | 01/06/23 | 0.00 | 0 | 53,433.82 | 0.00 |
| 28 | Various |  | XX | 09/01/25 | N | 11,628,870.62 | 4.392 | 60,477.10 | 0.00 |  | 01/01/23 | 0.00 | 0 | 44,042.54 | 0.00 |
| 28A | Various |  | XX | 09/01/25 | N | 2,319,871.66 | 4.392 | 12,064.73 | 0.00 |  | 01/01/23 | 0.00 | 0 | 8,786.15 | 0.00 |
| 29 | Multifamily |  | TX | 07/01/22 |  |  |  |  |  | 04/29/22 |  |  |  |  |  |
| 30 | Lodging |  | CA | 07/01/25 | N | 10,759,595.58 | 4.622 | 63,731.04 | 0.00 |  | 01/01/23 | 0.00 | 0 | 42,906.67 | 0.00 |
| 31 | Multifamily |  | NV | 09/01/25 | N | 11,679,452.71 | 4.292 | 60,069.82 | 0.00 |  | 01/01/23 | 0.00 | 0 | 43,228.20 | 0.00 |
| 32 | Multifamily |  | NC | 09/01/20 |  |  |  |  |  | 06/01/20 |  |  |  |  |  |
| 33 | Lodging |  | MO | 09/01/25 | N | 9,829,549.05 | 4.590 | 67,314.39 | 0.00 |  | 01/01/23 | 0.00 | 0 | 38,963.35 | 0.00 |
| 34 | Lodging |  | TX | 08/01/25 |  |  |  |  |  | 11/22/22 |  |  |  |  |  |
| 35 | Multifamily |  | CA | 09/01/25 | N | 10,384,041.42 | 4.640 | 58,714.29 | 0.00 |  | 01/01/23 | 0.00 | 0 | 41,558.56 | 0.00 |

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **LOAN LEVEL DETAIL**

| Loan ID | Property Type | Transfer Date | Stat | Maturity Date | Neg Am | End Schedule Balance | Note Rate | Sched P&I | Prepay Adj | Prepay Date | Paid Thru | Prepay Premium | Loan Status ** | Interest Payment | Yield Main Charges |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 36 | Lodging |  | MD | 07/01/20 |  |  |  |  |  | 08/01/20 |  |  |  |  |  |
| 37 | Retail |  | AZ | 07/01/25 | N | 9,335,054.27 | 4.676 | 54,305.61 | 0.00 |  | 01/01/23 | 0.00 | 0 | 37,655.16 | 0.00 |
| 38 | Lodging |  | MD | 09/01/25 | N | 8,779,450.83 | 4.960 | 53,437.97 | 0.00 |  | 01/01/23 | 0.00 | 0 | 37,565.80 | 0.00 |
| 39 | Lodging |  | MN | 09/01/25 | N | 8,393,475.82 | 4.565 | 49,268.54 | 0.00 |  | 01/01/23 | 0.00 | 0 | 33,058.24 | 0.00 |
| 40 | Retail |  | NV | 09/06/25 | N | 7,913,950.28 | 4.774 | 44,463.07 | 0.00 |  | 01/06/23 | 0.00 | 0 | 32,582.65 | 0.00 |
| 41 | Self Storage |  | CA | 07/01/25 | N | 7,100,000.00 | 4.260 | 26,045.17 | 0.00 |  | 01/01/23 | 0.00 | 0 | 26,045.17 | 0.00 |
| 42 | Lodging |  | TX | 07/01/25 | N | 6,127,351.92 | 4.984 | 37,509.09 | 0.00 |  | 01/01/23 | 0.00 | 0 | 26,345.15 | 0.00 |
| 43 | Retail |  | AR | 09/01/30 | N | 6,449,697.27 | 5.505 | 38,988.89 | 0.00 |  | 01/01/23 | 0.00 | 0 | 30,613.95 | 0.00 |
| 44 | Retail |  | CA | 08/06/25 | N | 5,903,773.09 | 4.680 | 33,568.69 | 0.00 |  | 01/06/23 | 0.00 | 0 | 23,831.45 | 0.00 |

| 45 | Multifamily | GA | 08/01/25 | N | 5,148,878.43 | 4.104 | 29,005.83 | 0.00 | 01/01/23 | 0.00 | 0 | 18,234.20 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 46 | Mobile Home | TX | 08/01/25 | N | 4,915,377.36 | 4.874 | 29,738.09 | 0.00 | 01/01/23 | 0.00 | 0 | 20,668.18 | 0.00 |
| 47 | Retail | PA | 06/06/25 | N | 4,858,285.38 | 4.755 | 27,924.26 | 0.00 | 01/06/23 | 0.00 | 0 | 19,925.41 | 0.00 |
| 48 | Self Storage | FL | 08/06/25 | N | 4,430,912.52 | 4.800 | 26,626.77 | 0.00 | 01/06/23 | 0.00 | 0 | 18,348.65 | 0.00 |
| 49 | Lodging | MT | 09/06/25 | N | 4,123,765.44 | 4.850 | 28,794.20 | 0.00 | 01/06/23 | 0.00 | 0 | 17,270.58 | 0.00 |
| 50 | Retail | NV | 08/01/25 | N | 4,306,212.30 | 4.650 | 25,524.02 | 0.00 | 01/01/23 | 0.00 | 0 | 17,275.82 | 0.00 |
| 51 | Retail | TX | 08/01/25 | N | 4,200,722.43 | 4.850 | 24,801.52 | 0.00 | 01/01/23 | 0.00 | 0 | 17,574.04 | 0.00 |
| 52 | Various | XX | 09/06/20 |  |  |  |  |  | 07/31/20 |  |  |  |  |
| 53 | Various | XX | 08/01/25 | N | 3,676,328.80 | 4.419 | 21,330.06 | 0.00 | 01/01/23 | 0.00 | 0 | 14,017.18 | 0.00 |
| 54 | Industrial | NV | 09/06/25 | N | 2,965,685.77 | 4.832 | 19,358.49 | 0.00 | 01/06/23 | 0.00 | 0 | 12,368.97 | 0.00 |
| 55 | Retail | UT | 09/01/25 | N | 2,196,887.53 | 5.000 | 13,420.54 | 0.00 | 01/01/23 | 0.00 | 0 | 9,475.81 | 0.00 |
| 56 | Multifamily | OH | 07/01/25 | N | 1,738,943.22 | 4.954 | 10,172.96 | 0.00 | 01/01/23 | 0.00 | 0 | 7,429.94 | 0.00 |
| Count: | 62 | Totals: |  |  | 1,036,856,685.12 |  | 5,350,590.82 | 0.00 |  | 0.00 |  | 4,060,688.62 | 0.00 |

* If State field is blank or 'XX', loan has properties in multiple states.

** Loan Status: A = Payment not received but still in grace period; B = Late Payment but less than 30 days delinquent; 0 = Current; 1 = 30-59 Days Delinquent; 2 = 60-89 Days Delinquent; 3 = 90-120 Days Delinquent; 4 = Performing Matured Balloon; 5 = Non-Performing Matured Balloon; 6 = 121+ Days Delinquent; R = Repurchased.

# **Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25**
**Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **HISTORICAL LOAN MODIFICATION REPORT**

| Loan ID | Ending Scheduled Balance | Ending Unpaid Balance | Comments |
| --- | --- | --- | --- |

# Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
Commercial Mortgage Pass-Through Certificates, Series 2015-C25

# REO STATUS REPORT

| Loan ID | State | City | Property Type | Book Value | Ending Scheduled Loan | REO Date | Total Exposure | Appraisal Value | Appraisal Date | Date Asset Expected to be Resolved or Foreclosed |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

Count:

Totals:

(*) Legend: (1) Partial Liq's (Curtailment), (2) Payoff Prior To Maturity, (3) Disposition / Liquidation, (4) Repurchase/ Substitution, (5) Full Payoff At Maturity, (6) DPO, (7) Liquidated, (8) Payoff w/ penalty, (9) Payoff w/ yield Maintenance, (10) Curtailment w/ Penalty, (11) Curtailment w/ Yield Maintenance

# Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25
Commercial Mortgage Pass-Through Certificates, Series 2015-C25

# DEFEASED LOAN DETAIL

| Loan ID | Current Ending Scheduled Balance | Maturity Date | Current Note Rate | Defeasance Status * |
| --- | --- | --- | --- | --- |
| 5 | 54,795,959.57 | 08/01/2025 | 4.64 | F |
| 25 | 14,374,442.43 | 07/01/2025 | 4.27 | F |
| 28 | 11,628,870.62 | 09/01/2025 | 4.39 | P |
| 28A | 2,319,871.66 | 09/01/2025 | 4.39 | F |
| 41 | 7,100,000.00 | 07/01/2025 | 4.26 | F |
| 46 | 4,915,377.36 | 08/01/2025 | 4.87 | F |
| 56 | 1,738,943.22 | 07/01/2025 | 4.95 | F |

Count: 7 Totals: 96,873,464.86

* Defeasance Status: P = Portion of Loan Previously Defeased. F = Full Defeasance.

# ---**Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25  
Commercial Mortgage Pass-Through Certificates, Series 2015-C25**

# **MATERIAL BREACHES AND DOCUMENT DEFECTS**

| Loan ID | Ending Principal Balance | Material Breach Date | Date Received Notice | Description |
| --- | --- | --- | --- | --- |

| Count: | Totals: |
| --- | --- |