# EDGAR Filing Document

**Accession Number:** 0001932333
**File Stem:** 0001539497-23-000073
**Filing Date:** 2023-1
**Character Count:** 45905
**Document Hash:** 82f5069d758b80e42186a3c48de63fd5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000073.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001539497-23-000073

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

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230126

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

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACRE Credit Partners REIT LLC
- **CENTRAL INDEX KEY:** 0001932333
- **IRS NUMBER:** 874832304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-06377
- **FILM NUMBER:** 23556811

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312
- **BUSINESS PHONE:** 518-788-8172

**MAIL ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACRE Credit Partners REIT LLC
- **CENTRAL INDEX KEY:** 0001932333
- **IRS NUMBER:** 874832304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312
- **BUSINESS PHONE:** 518-788-8172

**MAIL ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACRE Credit Partners REIT LLC
- **CENTRAL INDEX KEY:** 0001932333
- **IRS NUMBER:** 874832304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312
- **BUSINESS PHONE:** 518-788-8172

**MAIL ADDRESS:**
- **STREET 1:** C/O ASIA CAPITAL REAL ESTATE
- **STREET 2:** 670 DEKALB AVE SE, #100
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30312

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER**

**REPORT PURSUANT TO SECTION 15G**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

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

[_] 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, <br> of the person to 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): [_]

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

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

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

Central Index Key Number of sponsor: 0001932333

---

| |
|:---|
| &nbsp;&nbsp;**ACREC 2023-FL2 LLC** |
| &nbsp;&nbsp;(Exact name of issuing entity as specified in its charter) |

---

Central Index Key Number of issuing entity (if applicable): __________

Central Index Key Number of underwriter (if applicable): __________

---

| |
|:---|
| &nbsp;&nbsp;**Daniel Jacobs, (732) 492-9743** |
| &nbsp;&nbsp;(Name and telephone number, including area code, <br> of the person to contact in connection with this filing) |

---

**INFORMATION TO BE INCLUDED IN THE REPORT**

**PART I: REPRESENTATION AND WARRANTY INFORMATION**

N/A

**PART II: 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 99.1 hereto is an Independent Accountants' Report on Applying Agreed-Upon Procedures, dated January 26, 2023, of KPMG LLP, obtained by the sponsor, 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.

---

| | | | |
|:---|:---|:---|:---|
| Date: January 26, 2023 | ACRE Credit Partners REIT LLC<br> (Sponsor)  | ACRE Credit Partners REIT LLC<br> (Sponsor)  | ACRE Credit Partners REIT LLC<br> (Sponsor)  |
|  | By: | /s/ Daniel Jacobs | /s/ Daniel Jacobs |
|  |  | Name: | Daniel Jacobs |
|  |  | Title: | Director |

---

**EXHIBIT INDEX**

Exhibit 99.1 Independent Accountants' Report on Applying Agreed-Upon Procedures, dated January 26, 2023, of KPMG LLP.

## Exhibit 99.1

**Exhibit 99.1**

---

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

---

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

ACRE Credit Partners REIT LLC (the "Company")<br> Barclays Capital Inc.

J.P. Morgan Securities LLC<br> (together, the "Specified Parties")

Re: ACREC 2023-FL2 LLC – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "ACREC 2023-FL2 Accounting Tape_1.25.xlsx" provided by the Company on January 25, 2023 (the "Data File"), containing information on 15 mortgage assets and 18 related mortgaged properties as of February 9, 2023 (the "Cut-off Date"), which we were informed are intended to be included as collateral in the offering by ACREC 2023-FL2 LLC. 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:

· 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.

· 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.

· The term "Loan Files" means the copies of source documents provided by
the Company and listed in Attachment A. We make no representation regarding the validity or accuracy of these documents.

· The term "Instructions" means the instructions provided by the Company
pertaining to a procedure attribute, or methodology as described in Attachment C.

· 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.

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)

· 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 field of the Attachment B containing the calculation methodology for the Recomputed Attributes provided by the Company.

· The term "Assumed SOFR" means the Term SOFR rate 3.750% which we were
instructed to use by the Company where applicable in the Calculation Methodology.

· The term "Provided Information" means the Loan Files, Calculation Methodology,
Cut-off Date, Assumed SOFR and Instructions.

· 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 Specified Parties. The Data File represents the revised information reflecting resolution of differences communicated as determined
appropriate by the Specified Parties. 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:

A. We compared the Compared Attributes in the Data File to the corresponding information included in the
Loan Files, utilizing the Instructions, as applicable. 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,
utilizing the Instructions as applicable, constituted an exception. 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. We recomputed the Recomputed Attributes in the Data File using (i) the corresponding information contained
in the Data File, (ii) the Calculation Methodology, and (iii) the Instructions.

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 other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the mortgage assets and related mortgaged properties, (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 assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such mortgage assets being securitized, (iii) the compliance of the originator of the mortgage assets with federal, state, and local laws and regulations, or (iv)

![](kpmglogo2.jpg)

any other factor or characteristic of the mortgage assets and related mortgaged properties that would be material to the likelihood that the issuer of the securities 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<br> January 26, 2023

**ATTACHMENT A**

**COMPARED ATTRIBUTES**

---

| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Property Address | &nbsp;&nbsp;Appraisal Report, Engineering Report |
| &nbsp;&nbsp;Property City | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Property State | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Property Zip Code | &nbsp;&nbsp;Appraisal Report, Engineering Report |
| &nbsp;&nbsp;Property County | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Appraisal Report, Engineering Report |
| &nbsp;&nbsp;Year Renovated | &nbsp;&nbsp;Appraisal Report, Engineering Report |
| &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Specific Property Type | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;No of Units | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Unit of Measure | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Occupancy % | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Occupancy Source Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Loan Purpose (Acquisition, Refinance, DPO) | &nbsp;&nbsp;Settlement Statement, Promissory Note, Loan Agreement |
| &nbsp;&nbsp;Assumed Loan (Y/N) | &nbsp;&nbsp;Promissory Note, Loan Agreement |
| &nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;Loan Agreement, Promissory Note, Organizational Chart |
| &nbsp;&nbsp;Principals (Individuals) | &nbsp;&nbsp;Loan Agreement, Guaranty, Organization Chart |
| &nbsp;&nbsp;Related Borrower (Y/N) | &nbsp;&nbsp;Guaranty, Loan Agreement |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;Annual Debt Service Payment (P&I) | &nbsp;&nbsp;Amortization schedule provided by the Company. |
| &nbsp;&nbsp;Commitment Original Balance ($) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Initial Funded Amount ($) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Future Funding Trigger / Requirements | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance ($) | &nbsp;&nbsp;Servicer Report, Loan Agreement |

---

---

| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Mortgage Asset Cut-off Date Balance ($) | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Mortgage Loan Balloon Payment ($) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;ARD Loan (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Initial Maturity Date or Anticipated Repayment Date | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Extension Options | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Extension Options Description | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;First Extension Fee % | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;First Extension Period (Months) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;First Extension Cap | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Second Extension Fee % | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Second Extension Period (Months) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Second Extension Cap | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Third Extension Fee % | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Third Extension Period (Months) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Third Extension Floor | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Third Extension Cap | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Exit Fee % / Deferred Origination Fee (%) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Fully Extended Maturity Date | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Rate Type | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Index for Floating Rate | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Term SOFR Additional Rate | &nbsp;&nbsp;Loan Agreement; Notice of Cessation of LIBOR |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;ARD Mortgage Rate After ARD and extension periods | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Rate Step Up Post ARD Commencement Date | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;ARD Loan Fully Extended Maturity Date | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Rounding Factor (4) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Time of Rounding (Before Spread, After Spread) | &nbsp;&nbsp;Loan Agreement, Promissory Note |

---

---

| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Rounding Direction | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Lookback Period | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;SOFR Cap Provider | &nbsp;&nbsp;SOFR Cap Confirmation |
| &nbsp;&nbsp;SOFR Cap Provider Rating | &nbsp;&nbsp;Bloomberg Screenshot |
| &nbsp;&nbsp;SOFR Floor % | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;SOFR Cap Strike Price % | &nbsp;&nbsp;SOFR Cap Confirmation |
| &nbsp;&nbsp;Interest Accrual Basis | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Interest Rate Change | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Interest Rate Change Amount | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Interest Rate Change Trigger | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Grace Period Default (Days) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Grace Period Late (Days) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Grace Period Balloon (Days) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Original Prepayment Provision | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Remaining Prepayment Provision | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Partial Release and/or Partial Prepayment (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Partial Release and/or Prepayment Description | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Amortization Type During Initial Term | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Amortization Type During Extensions | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Amortization Type | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Amort Number of Months | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Appraisal Valuation Date | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;As-Is Appraised Value | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Stabilized Appraised Value | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;Appraisal Anticipated Stabilization Date | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;USPAP Appraisal (Y/N) | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;FIRREA Appraisal (Y/N) | &nbsp;&nbsp;Appraisal Report |

---

---

| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Third Most Recent As Of Date | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Third Most Recent Actual Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Third Most Recent Actual Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Third Most Recent Actual NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Third Most Recent Actual NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Second Most Recent As Of Date | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Second Most Recent Actual Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Second Most Recent Actual Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Second Most Recent Actual NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Second Most Recent Actual NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Most Recent As Of Date | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Most Recent Actual Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Most Recent Actual Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Most Recent Actual NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Most Recent Actual NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Occupancy % | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Reserves | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized Occupancy % | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized Reserves | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |
| &nbsp;&nbsp;Underwritten Stabilized NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement |

---

---

| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Appraisal Stabilized Occupancy % | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Appraisal Stabilized Revenues | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Appraisal Stabilized Expenses | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Appraisal Stabilized NOI | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Appraisal Stabilized Reserves | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Appraisal Stabilized NCF | &nbsp;&nbsp;Company Underwritten Cash Flow Statement, Appraisal Report |
| &nbsp;&nbsp;Lien Position | &nbsp;&nbsp;Title Policy, Deed of Trust, Promissory Note |
| &nbsp;&nbsp;Full Recourse (Y/N/Partial) | &nbsp;&nbsp;Guaranty, Loan Agreement |
| &nbsp;&nbsp;Recourse Provisions | &nbsp;&nbsp;Guaranty, Loan Agreement |
| &nbsp;&nbsp;Recourse Carveout Guarantor | &nbsp;&nbsp;Guaranty |
| &nbsp;&nbsp;Title Vesting (Fee/Leasehold/Both) | &nbsp;&nbsp;Title Policy, Deed of Trust, Promissory Note |
| &nbsp;&nbsp;Ground Lease Payment (Annual) | &nbsp;&nbsp;Ground Lease |
| &nbsp;&nbsp;Ground Lease Initial Expiration Date | &nbsp;&nbsp;Ground Lease |
| &nbsp;&nbsp;Ground Lease Extension (Y/N) | &nbsp;&nbsp;Ground Lease |
| &nbsp;&nbsp;# of Ground Lease Extension Options | &nbsp;&nbsp;Ground Lease |
| &nbsp;&nbsp;Ground Lease Expiration Date with Extension | &nbsp;&nbsp;Ground Lease |
| &nbsp;&nbsp;Type of Lockbox | &nbsp;&nbsp;Cash Management Agreement, Loan Agreement |
| &nbsp;&nbsp;Cash Management (Springing/In-place) | &nbsp;&nbsp;Cash Management Agreement, Loan Agreement |
| &nbsp;&nbsp;Lockbox Trigger Event | &nbsp;&nbsp;Cash Management Agreement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Engineering/Deferred Maintenance Escrow (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Environmental Escrow (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Tax Escrow (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Tax Escrow (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Springing Tax Escrow Description | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;Insurance Escrow (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Insurance Escrow (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Springing Insurance Escrow Description | &nbsp;&nbsp;Loan Agreement, Settlement Statement |

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| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;&nbsp;Replacement Reserve (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Replacement Reserve (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Springing Replacement Reserve Description | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;&nbsp;TI/LC Reserve (Cut-off Date) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Monthly TI/LC Reserve ($) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Springing TI/LC Reserve Description | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;&nbsp;Initial Capital Improvement Reserve | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Cut-off Capital Improvement Reserve | &nbsp;&nbsp; Servicer Report, Settlement Statement, Loan<br> Agreement |
| &nbsp;&nbsp;&nbsp;Capital Improvement Reserve (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Cut-off Other Reserve 1 ($) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Other Escrow 1 (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Other (Springing) Escrow Reserve 1 Description (1) | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;Cut-off Other Reserve 2 ($) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Other Escrow 2 (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Other (Springing) Escrow Reserve 2 Description (1) | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;Cut-off Other Reserve 3 ($) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;&nbsp;Other Escrow 3 (Monthly) | &nbsp;&nbsp;Servicer Report, Settlement Statement, Loan Agreement |
| &nbsp;&nbsp;Other (Springing) Escrow Reserve 3 Description (1) | &nbsp;&nbsp;Loan Agreement, Settlement Statement |
| &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;Environmental Report Date (Phase I) | &nbsp;&nbsp;Phase I Environmental Report |
| &nbsp;&nbsp;Environmental Report Date (Phase II) | &nbsp;&nbsp;Phase II Environmental Report |
| &nbsp;&nbsp;Environmental Insurance (Y/N) | &nbsp;&nbsp;Insurance Certificate |
| &nbsp;&nbsp;Seismic Report Date | &nbsp;&nbsp;Seismic Report |
| &nbsp;&nbsp;Seismic PML % | &nbsp;&nbsp;Seismic Report, Engineering Report |
| &nbsp;&nbsp;Seismic Insurance Obtained if PML >= 20% (Y/N) | &nbsp;&nbsp;Seismic Report, Engineering Report, Insurance Certificate |
| &nbsp;&nbsp;Single-Tenant (Y/N) | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |

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| | |
|:---|:---|
| &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;**Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Management Agreement, Conditional Assignment of Management Agreement, Loan Agreement |
| &nbsp;&nbsp;TIC (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note, TIC Agreement |
| &nbsp;&nbsp;Max Number of TICs | &nbsp;&nbsp;Loan Agreement, TIC Agreement |
| &nbsp;&nbsp;Single Purpose Borrower (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Independent Director (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Borrower Non Consolidation Opinion (Y/N) | &nbsp;&nbsp;Opinion of Counsel, Loan Agreement |
| &nbsp;&nbsp;DST (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;IDOT (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Largest Tenant SqFt | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Largest Tenant Exp Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;2nd Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;2nd Largest Tenant SqFt | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;2nd Largest Tenant Exp Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;3rd Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;3rd Largest Tenant SqFt | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;3rd Largest Tenant Exp Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;4th Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;4th Largest Tenant Sqft | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;4th Largest Tenant Exp Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;5th Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;5th Largest Tenant Sqft | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;5th Largest Tenant Exp Date | &nbsp;&nbsp;Underwritten Rent Roll, Certified Rent Roll |
| &nbsp;&nbsp;Cut-off Date Subordinate Debt/Mezz Loan Bal ($) | &nbsp;&nbsp;Servicer Report, Mezzanine Loan Agreement, Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Permitted Future Debt (Y/N) | &nbsp;&nbsp;Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Type | &nbsp;&nbsp;Loan Agreement, Promissory Note |

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**ATTACHMENT B**

**RECOMPUTED ATTRIBUTES**

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| | |
|:---|:---|
| &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; <br> **Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Calculation Methodology** |
| &nbsp;&nbsp;Annual Debt Service Payment (IO) | &nbsp;&nbsp; For Mortgage Assets which have Interest Accrual Basis as 30/360, Mortgage Loan Cut-off Date Balance ($) multiplied by Fully Funded Mortgage Loan Rate %; otherwise, for Mortgage Assets which have Interest Accrual Basis as Actual/360, Mortgage Loan Cut-off Date Balance ($) multiplied by Fully<br> Funded Mortgage Loan Rate % multiplied by 365/360 |
| &nbsp;&nbsp;Annual Debt Service Payment (Cap) | &nbsp;&nbsp; For Mortgage Assets which have Interest Accrual Basis as 30/360, Mortgage Loan Cut-off Date Balance ($) multiplied by Mortgage Rate Cap; otherwise, for Mortgage Assets which have Interest Accrual Basis as Actual/360, Mortgage Loan Cut-off<br> Date Balance ($) multiplied by Mortgage Rate Cap multiplied by 365/360 |
| &nbsp;&nbsp;Cut-off Date Future Funding Remaining Balance ($) | &nbsp;&nbsp;Commitment Original Balance ($) minus Mortgage Loan Cut-off Date Balance ($) |
| &nbsp;&nbsp;Mortgage Loan % of Total Cut-off Date Balance | &nbsp;&nbsp; Mortgage Loan Cut-off Date Balance ($) divided by the aggregate Mortgage Loan Cut-off Date Balance<br> ($) of all Mortgage Loans |
| &nbsp;&nbsp;Mortgage Asset % of Total Cut-off Date Balance | &nbsp;&nbsp;Mortgage Asset Cut-off Date Balance ($) divided by the aggregate Mortgage Asset Cut-off Date Balance ($) of all Mortgage Loans |
| &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance / Unit ($) | &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance ($) divided by No of Units |
| &nbsp;&nbsp;Committed Mortgage Loan Cut-off Date Balance / Unit ($) | &nbsp;&nbsp;Commitment Original Balance ($) divided by No of Units |
| &nbsp;&nbsp;Mortgage Loan Balloon Payment / Unit ($) | &nbsp;&nbsp;Mortgage Loan Balloon Payment ($) divided by No of Units |
| &nbsp;&nbsp;Pari Passu | &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance ($) less Mortgage Asset Cut-off Date Balance ($) |
| &nbsp;&nbsp;Initial Loan Term (Original) | &nbsp;&nbsp;Number of payments between and including the First Payment Date and the Initial Maturity Date or Anticipated Repayment Date |
| &nbsp;&nbsp;Cut-off Date Initial Loan Term (Remaining) | &nbsp;&nbsp;Initial Loan Term (Original) minus Cut-off Date Seasoning |
| &nbsp;&nbsp;Cut-off Date Seasoning | &nbsp;&nbsp;Number of payments between and including the First Payment Date and the Cut-off Date |
| &nbsp;&nbsp;First Extension Fee ($) | &nbsp;&nbsp;Commitment Original Balance ($) multiplied by First Extension Fee % (if applicable) |
| &nbsp;&nbsp;First Extension Floor | &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % plus SOFR Floor % |
| &nbsp;&nbsp;Second Extension Fee ($) | &nbsp;&nbsp;Commitment Original Balance ($) multiplied by Second Extension Fee % (if applicable) |
| &nbsp;&nbsp;Second Extension Floor | &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % plus SOFR Floor % |
| &nbsp;&nbsp;Third Extension Fee ($) | &nbsp;&nbsp;Commitment Original Balance ($) multiplied by Third Extension Fee % (if applicable) |

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| | |
|:---|:---|
| &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; <br> **Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Calculation Methodology** |
| &nbsp;&nbsp;Third Extension Floor | &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % plus SOFR Floor % |
| &nbsp;&nbsp;Exit Fee ($) / Deferred Origination Fee ($) | &nbsp;&nbsp;Commitment Original Balance ($) multiplied by Exit Fee % / Deferred Origination Fee (%) |
| &nbsp;&nbsp;Fully Extended Loan Term (Original) | &nbsp;&nbsp;Number of payments between and including the First Payment Date and the Fully Extended Maturity Date |
| &nbsp;&nbsp;Fully Extended Loan Term (Remaining) | &nbsp;&nbsp;Fully Extended Loan Term (Original) minus Cut-off Date Seasoning |
| &nbsp;&nbsp;Mortgage Rate Floor | &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % plus SOFR Floor % |
| &nbsp;&nbsp;Mortgage Rate Cap | &nbsp;&nbsp;Fully Funded Mortgage Loan Margin % plus SOFR Cap Strike Price % |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Rate % | &nbsp;&nbsp; The sum of the Fully Funded Mortgage Loan Margin<br> % and Assumed SOFR rounded by the respective<br> Rounding Factor subject to (i) the Mortgage Rate Floor and (ii) the Mortgage Rate Cap |
| &nbsp;&nbsp;B Note / Mezz Loan % | &nbsp;&nbsp;Cut-off Date Subordinate Debt/Mezz Loan Bal ($) divided by the Cut-off Date Total Debt Balance |
| &nbsp;&nbsp;IO Number of Months | &nbsp;&nbsp;Equals the Initial Loan Term (Original) |
| &nbsp;&nbsp;Mortgage Loan Cut-off Date (As-Is) LTV Ratio | &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance ($) divided by As-Is Appraised Value |
| &nbsp;&nbsp;Mortgage Loan Cut-off Date (As-Is) Estimated LTV Ratio | &nbsp;&nbsp;Equals the Mortgage Loan Cut-off Date (As-Is) LTV Ratio |
| &nbsp;&nbsp;Mortgage Loan Cut-off Date (As-Is) Net of Initial CapEx LTV Ratio | &nbsp;&nbsp;Mortgage Loan Cut-off Date Balance ($) minus Initial Capital Improvement Reserve divided by As-Is Appraised Value |
| &nbsp;&nbsp;Committed Mortgage Loan (Stabilized) LTV Ratio | &nbsp;&nbsp;Commitment Original Balance ($) divided by Stabilized Appraised Value |
| &nbsp;&nbsp;Maturity Date Stabilized LTV Ratio | &nbsp;&nbsp;Mortgage Loan Balloon Payment ($) divided by Stabilized Appraised Value |
| &nbsp;&nbsp;Mortgage Loan Most Recent NOI DSCR | &nbsp;&nbsp;Most Recent Actual NOI (where applicable) divided by Annual Debt Service Payment (IO) |
| &nbsp;&nbsp;Mortgage Loan Most Recent NCF DSCR | &nbsp;&nbsp;Most Recent Actual NCF (where applicable) divided by Annual Debt Service Payment (IO) |
| &nbsp;&nbsp;Cut-off Date Mortgage Loan Most Recent NOI Debt Yield | &nbsp;&nbsp;Most Recent Actual NOI (where applicable) divided by Mortgage Loan Cut-off Date Balance ($) |
| &nbsp;&nbsp;Cut-off Date Mortgage Loan Most Recent NCF Debt Yield | &nbsp;&nbsp;Most Recent Actual NCF (where applicable) divided by Mortgage Loan Cut-off Date Balance ($) |
| &nbsp;&nbsp;Mortgage Loan Underwritten NOI DSCR | &nbsp;&nbsp;Underwritten NOI divided by Annual Debt Service Payment (IO) |
| &nbsp;&nbsp;Mortgage Loan Underwritten NCF DSCR | &nbsp;&nbsp;Underwritten NCF divided by Annual Debt Service Payment (IO) |
| &nbsp;&nbsp;Cut-off Date Mortgage Loan Underwritten NOI Debt Yield | &nbsp;&nbsp;Underwritten NOI divided by Mortgage Loan Cut-off Date Balance ($) |
| &nbsp;&nbsp;Cut-off Date Mortgage Loan Underwritten NCF Debt Yield | &nbsp;&nbsp;Underwritten NCF divided by Mortgage Loan Cut-off Date Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR | &nbsp;&nbsp; Underwritten Stabilized NOI divided by the product of Annual Debt Service (IO) and Commitment Original<br> Balance ($) divided by Mortgage Loan Cut-Off Date Balance ($) |

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| | |
|:---|:---|
| &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; <br> **Attribute** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **Calculation Methodology** |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR | &nbsp;&nbsp;Underwritten Stabilized NCF divided by the product of Annual Debt Service (IO) and Commitment Original Balance ($) divided by Mortgage Loan Cut- Off Date Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Underwritten Stabilized NOI Debt Yield | &nbsp;&nbsp;Underwritten Stabilized NOI divided by Commitment Original Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield | &nbsp;&nbsp;Underwritten Stabilized NCF divided by Commitment Original Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR | &nbsp;&nbsp;Appraisal Stabilized NOI divided by the product of Annual Debt Service (IO) and Commitment Original Balance ($) divided by Mortgage Loan Cut-Off Date Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Appraisal Stabilized NCF DSCR | &nbsp;&nbsp; Appraisal Stabilized NCF divided by the product of Annual Debt Service (IO) and Commitment Original Balance ($) divided by Mortgage Loan Cut-Off Date<br> Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Appraisal Stabilized NOI Debt Yield | &nbsp;&nbsp;Appraisal Stabilized NOI divided by Commitment Original Balance ($) |
| &nbsp;&nbsp;Fully Funded Mortgage Loan Appraisal Stabilized NCF Debt Yield | &nbsp;&nbsp;Appraisal Stabilized NCF divided by Commitment Original Balance ($) |
| &nbsp;&nbsp;Cut-off Date Total Debt Balance | &nbsp;&nbsp; The sum of the Mortgage Loan Cut-Off Date Balance<br> ($) and Cut-off Date Subordinate Debt/Mezz Loan Bal ($) |
| &nbsp;&nbsp;Cut-off Date Total Debt As-Is LTV | &nbsp;&nbsp;Cut-off Date Total Debt Balance divided by the As-Is Appraised Value |
| &nbsp;&nbsp;Cut-off Date Total Debt Ann Debt Service ($) | &nbsp;&nbsp;The product of the Cut-off Date Total Debt Balance and the Fully Funded Mortgage Loan Rate % multiplied by 365 and divided by 360 |
| &nbsp;&nbsp;Cut-off Date Total Debt UW NCF DSCR | &nbsp;&nbsp;Underwritten NCF divided by Cut-off Date Total Debt Ann Debt Service ($) |

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**ATTACHMENT C**

**INSTRUCTIONS**

&nbsp;&nbsp;&nbsp;&nbsp;1. For those Compared Attributes or with the Source Document indicated as "Provided by the Company"
we were instructed by the Company to assume the attribute is accurate and not perform any procedure.

&nbsp;&nbsp;&nbsp;&nbsp;2. The Mortgage Asset "Waters Edge" was not closed as of the date of this report. Therefore,
we were not provided the Loan Files and we were instructed by the Company to assume such "Compared Attributes" and "Recomputed
Attributes" relating to this Mortgage Asset and Mortgaged Property are accurate and not to perform any procedure.

&nbsp;&nbsp;&nbsp;&nbsp;3. We were instructed by the Company to follow the instructions listed below pertaining to the applicable
Mortgage Assets and Compared or Recomputed Attribute(s):

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Property Name(s)** | &nbsp;&nbsp;&nbsp;**Compared or Recomputed Attribute(s)** | &nbsp;&nbsp;&nbsp;&nbsp;**Company Instruction** |
| &nbsp;&nbsp;Briarhill Apartments; Accent Edgewood; Alta Foundry; Johnstown Plaza; 7403; Crossing at White Oak | &nbsp;&nbsp;Mortgage Loan Underwritten NOI DSCR; Mortgage Loan Underwritten NCF DSCR; Cut-off Date Total Debt UW NCF DSCR | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Briarhill Apartments | &nbsp;&nbsp; Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR; Fully Funded Mortgage Loan Underwritten Stabilized<br> NCF DSCR | &nbsp;&nbsp;Provided by the Company |

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