# EDGAR Filing Document

**Accession Number:** 0000850779
**File Stem:** 0001539497-25-002388
**Filing Date:** 2025-9
**Character Count:** 22760
**Document Hash:** 6c36f9324f4cb952d7c65e9ad5687ede
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-002388.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0001539497-25-002388

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250917

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20250917

**DATE AS OF CHANGE**: 20250917

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00461
- **FILM NUMBER:** 251320598

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00461

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013

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

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER<br> Report Pursuant to Section 15G of** 

**the Securities Exchange Act of 1934**

<br> Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:<br>

[_] Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________________ to _________________

Date of Report (Date of earliest event reported)______________________

Commission File Number of securitizer: ____________________

Central Index Key Number of securitizer: ___________________

<br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) [_]<br>Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) [_]<br>Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) [_]

[✔] Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0000850779

<u>BRES Commercial Mortgage Trust 2025-ATCAP</u> <br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): <u>Not applicable</u> 

Central Index Key Number of underwriter (if applicable): <u>Not applicable</u> 

<u>A.J. Sfarra, (212) 214-5613</u> <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing

**INFORMATION TO BE INCLUDED IN THE REPORT**

**FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**

Attached as Exhibit 1 hereto is an agreed-upon procedures report, dated September 17, 2025, obtained by the depositor, with respect to certain agreed-upon procedures performed by KPMG LLP.

**SIGNATURES**

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

---

| |
|:---|
| Wells Fargo Commercial Mortgage Securities, Inc. |
| (Depositor) |
| Date: September 17, 2025 |
| /s/ Anthony J. Sfarra |
| By: Anthony J. Sfarra, President |
| (senior officer in charge of securitization of the depositor) |

---

Exhibit 1 Independent Accountants' Agreed-Upon Procedures Report, dated September 17, 2025.

## Ex-1

**Exhibit 1**

---

| | |
|:---|:---|
| ![](kpmglogo.jpg) |  |
|  | KPMG LLP<br> Suite 900<br> 8350 Broad Street<br> McLean, VA 22102 |

---

**Independent Accountants' Agreed-Upon Procedures Report**

Wells Fargo Commercial Mortgage Securities, Inc.

Wells Fargo Bank, National Association

(together, the "Company")

Wells Fargo Securities, LLC

Deutsche Bank AG, New York Branch

Deutsche Bank Securities Inc.

U.S. Bancorp Investments, Inc.

(collectively, the "Specified Parties"):

Re: BRES Commercial Mortgage Trust 2025-ATCAP – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "BRES 2025-ATCAP Securitization Tape.xlsx" provided by the Company on September 17, 2025 (the "Data File"), containing information on one mortgage loan (the "Mortgage Loan") and 56 related individual assets (the "Individual Assets") as of September 29, 2025 (the "Cut-off Date"), which we were informed is intended to be included as collateral in the offering by BRES Commercial Mortgage Trust 2025-ATCAP, Commercial Mortgage Pass-Through Certificates, Series 2025-ATCAP (the "Certificates"). The Company is responsible for the specified attributes identified by the Company in the Data File.

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

&nbsp;&nbsp;&nbsp;&nbsp;· The term "compared" means compared to the information shown and found
it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the
reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "recomputed" means recalculated and compared the result to the information shown
and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were
within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "reporting threshold" means that dollar amounts and percentages were within $1.00
and 0.1%, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Provided by the Company" when used in the "Source Document(s)" column
of Attachment A, means we were instructed by the Company to assume the attribute is accurate and not perform any procedure.

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

![](kpmglogo2.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Loan Files" means the electronic copies of source documents provided by the Company
and listed in Attachment A. Where the term "Draft" is used, it means source documents provided by the Company and listed in
Attachment A are in draft form and are not executed with signatures as of the date of this report. We make no representation regarding
the validity or accuracy of any of the source documents.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Compared Attributes" means the list of fields in the Data File which were selected
by the Company for us to perform comparison procedures for and are listed in Attachment A.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Recomputed Attributes" means the list of fields in the Data File which were selected
by the Company for us to perform recomputation procedures for and are listed in Attachment B.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Calculation Methodology" means the formula listed in the Calculation Methodology
column of Attachment B containing the calculation methodology for the Recomputed Attributes provided by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;· The term "Provided Information" means the Cut-off Date, Loan Files and Calculation Methodology.

Prior to being provided the Data File, we received one or more earlier versions of the data file on which to perform our procedures. In performing those procedures, we identified differences which were communicated to the Company. The Data File represents the revised information reflecting resolution of differences communicated as determined appropriate by the Company. We performed the procedures on the Data File, and the results of those procedures are reflected herein.

The procedures we were instructed by the Company to perform and the associated findings are as follows.

&nbsp;&nbsp;&nbsp;&nbsp;A. For the Mortgage Loan and Individual Assets included in the Data File, we compared the Compared Attributes
in the Data File (except for those with "Provided by the Company" in the "Source Document(s)" column of Attachment
A) to the corresponding information included in the Loan Files. The Specified Parties indicated that the absence of any of the information
in the Loan Files or the inability to agree the indicated information from the Data File to the Loan Files for each of the attributes
identified, constituted an exception, except for those Compared Attributes with "Provided by the Company" in the "Source
Document(s)" column of Attachment A. The document priority is the order provided by the Company, which is listed in the "Source
Document(s)" column in Attachment A, with the highest priority document listed first.

&nbsp;&nbsp;&nbsp;&nbsp;B. For the Mortgage Loan and Individual Assets included in the Data File, we recomputed the Recomputed
Attributes in the Data File using (i) the corresponding information contained in the Data File, and (ii) the Calculation Methodology.

We found such information to be in agreement without exception.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any

![](kpmglogo2.jpg)

other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Mortgage Loan and related Individual Assets, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Mortgage Loan to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing the Mortgage Loan being securitized, (iii) the compliance of the originator of the Mortgage Loan with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Mortgage Loan and related Individual Assets that would be material to the likelihood that the issuer of the Certificates will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

/s/ KPMG LLP

McLean, Virginia

September 17, 2025

**ATTACHMENT A**

**COMPARED ATTRIBUTES**

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| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Property Number | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Individual Asset Name | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Property Name | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Property Count | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Street Address | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;City | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;State | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Zip Code | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Market | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Property Subtype | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Square Footage (SF) | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;% Office | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Clear Height (feet) | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Dock-High Doors | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Cut-off Date Allocated Mortgage Loan Amount | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Mezzanine Debt Cut-Off Date Principal Balance | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Total Debt Cut-Off Date Balance | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Borrower | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Maturity Date or Anticipated Repayment Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Mortgage Rate Index | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Assumed SOFR | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Assumed SOFR at Cap | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Assumed Spread | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Trustee/Certificate Administrator Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Servicing Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;EU Reporting Administrator Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;CREFC Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Interest Accrual Basis | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Prepayment Restriction Code | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Partial Release and/or Partial Prepayment (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Partial Release and/or Prepayment Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Most Recent Occupancy % | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Occupancy Date | &nbsp;&nbsp;Underwriting File |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Appraised Value | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Appraisal Type | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Date of Appraisal (Valuation Date) | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Appraisal Cap Rate | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Appraisal Firm | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Type of Lockbox | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Phase I Date | &nbsp;&nbsp;Phase I Environmental Report |
| &nbsp;&nbsp;Phase II Date | &nbsp;&nbsp;Phase II Environmental Report |
| &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;Seismic Firm | &nbsp;&nbsp;Seismic Report |
| &nbsp;&nbsp;Seismic Report Date | &nbsp;&nbsp;Seismic Report |
| &nbsp;&nbsp;Seismic Zone | &nbsp;&nbsp;Engineering Report; Seismic Report |
| &nbsp;&nbsp;Seismic PML% | &nbsp;&nbsp;Seismic Report |
| &nbsp;&nbsp;Underwritten In-Place Effective Gross Income | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place Total Expense | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place NOI | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place Replacement Reserves | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place TI/LC | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place NCF | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Underwritten In-Place Economic Occupancy | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Name 1 by SF | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;SF1 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;UW Base Rent 1 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Lease Expiration Date 1 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Name 2 by SF | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;SF2 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;UW Base Rent 2 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Lease Expiration Date 2 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Name 3 by SF | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;SF3 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;UW Base Rent 3 | &nbsp;&nbsp;Underwriting File |
| &nbsp;&nbsp;Tenant Lease Expiration Date 3 | &nbsp;&nbsp;Underwriting File |

---

**ATTACHMENT B**

**RECOMPUTED ATTRIBUTES**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Calculation Methodology** |
| &nbsp;&nbsp;Percentage of Cut-Off Date Mortgage Loan Balance | &nbsp;&nbsp;Cut-off Date Allocated Mortgage Loan Amount for each Individual Asset divided by the total Cut-off Date Allocated Mortgage Loan Amount for the Mortgage Loan, prorated by the Square Footage (SF) of the Individual Asset divided by the total Square Footage (SF) of the Individual Asset's property group as provided by the Company |
| &nbsp;&nbsp;Cut-off Date Allocated Mortgage Loan Amount Per Square Foot | &nbsp;&nbsp;Cut-off Date Allocated Mortgage Loan Amount divided by Square Footage (SF) |
| &nbsp;&nbsp;Cut-off Date Total Debt Amount Per Square Foot | &nbsp;&nbsp;Total Debt Cut-Off Date Balance divided by Square Footage (SF) |
| &nbsp;&nbsp;Assumed Mortgage Rate | &nbsp;&nbsp;Assumed SOFR plus Assumed Spread |
| &nbsp;&nbsp;Appraised Value per SF ($) | &nbsp;&nbsp;Appraised Value divided by Square Footage (SF) |
| &nbsp;&nbsp;Total Debt Closing Date LTV | &nbsp;&nbsp;Total Debt Cut-Off Date Balance divided by Appraised Value |
| &nbsp;&nbsp;Total Debt UW NCF DSCR | &nbsp;&nbsp;Underwritten In-Place NCF divided by the product of Total Debt Cut-Off Date Balance, Assumed Mortgage Rate, and 365/360 |
| &nbsp;&nbsp;Cut-Off Date UW NOI Debt Yield | &nbsp;&nbsp;Underwritten In-Place NOI divided by Total Debt Cut-Off Date Balance |
| &nbsp;&nbsp;Cut-Off Date UW NCF Debt Yield | &nbsp;&nbsp;Underwritten In-Place NCF divided by Total Debt Cut-Off Date Balance |
| &nbsp;&nbsp;Space Pct 1 | &nbsp;&nbsp;SF1 divided by Square Footage (SF) |
| &nbsp;&nbsp;Space Pct 2 | &nbsp;&nbsp;SF2 divided by Square Footage (SF) |
| &nbsp;&nbsp;Space Pct 3 | &nbsp;&nbsp;SF3 divided by Square Footage (SF) |

---