# EDGAR Filing Document

**Accession Number:** 0000850779
**File Stem:** 0001539497-25-002593
**Filing Date:** 2025-10
**Character Count:** 29924
**Document Hash:** 2078165c5ae4a2518a6b8c2978b567db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-002593.hdr.sgml**: 20251002

**ACCESSION NUMBER**: 0001539497-25-002593

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

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251002

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

**FILED AS OF DATE**: 20251002

**DATE AS OF CHANGE**: 20251002

**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:** 251368585

**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: ___________________

______________________________________________________________________

Name and telephone number, including area code, 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) [_]<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>INTL Commercial Mortgage Trust 2025-PLAZA</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> 

---

| |
|:---|
| A.J. Sfarra, (212) 214-5613 |
| Name and telephone number, including area code, of the person to |
| 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 October 2, 2025, obtained by the depositor, with respect to certain agreed-upon procedures performed by Deloitte & Touche 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: October 2, 2025

/s/ Anthony J. Sfarra

By: Anthony J. Sfarra, President<br> (senior officer in charge of securitization of the depositor)

Exhibit 1 Independent Accountants' Agreed-Upon Procedures Report, dated October 2, 2025.

## Ex-1

**Exhibit 1**

---

| | |
|:---|:---|
| ![](deloitte.jpg) |  |
|  | **Deloitte & Touche LLP** |
|  | 3 Second Street<br> Suite 301 |
|  | Harborside Plaza 10 |
|  | Jersey City, NJ 07302 |
|  | USA |
|  | Tel: +1 212 937 8202 |
|  | www.deloitte.com |

---

Wells Fargo Commercial Mortgage Securities, Inc.<br> 30 Hudson Yards<br> New York, New York 10001<br>

**Independent Accountants' Report**

**<u>on Applying Agreed-Upon Procedures</u>**

We have performed the procedures described below related to certain information with respect to a commercial mortgage loan in connection with the proposed offering of certain classes of INTL Commercial Mortgage Trust 2025-PLAZA, Commercial Mortgage Pass-Through Certificates, Series 2025-PLAZA. Wells Fargo Commercial Mortgage Securities, Inc. (the **"Company"**) is responsible for the information provided to us, including the information set forth in the Data File (as defined herein).

The Company has agreed to the procedures and acknowledged that the procedures performed are appropriate to meet the intended purpose of evaluating the accuracy of certain information set forth in the Data File. Additionally, Wells Fargo Bank, National Association, Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Goldman Sachs Mortgage Company, Goldman Sachs Bank USA, JPMorgan Chase Bank, National Association and J.P. Morgan Securities LLC (collectively with the Company, the **"Specified Parties"**) have agreed to the procedures and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. Consequently, we make no representations regarding the appropriateness of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

We performed certain procedures on earlier versions of the Data File and communicated differences prior to being provided the final Data File which was subjected to the procedures described below.

Capitalized terms used but not defined herein are used with the meanings as described in "The Bond Market Association's Standard Formulas for the Analysis of Mortgage-Backed Securities and Other Related Securities."

**<u>Procedures and Findings</u>**

On October 1, 2025, representatives of the Company provided us with a computer-generated mortgage loan data file and related record layout (the **"Data File"**) containing one mortgage loan that is secured by one mortgaged property (the **"Mortgage Loan"**).

From September 23, 2025 through October 1, 2025, representatives of the Company provided us with certain Source Documents (as defined in the attached Appendix A) related to the Mortgage Loan.

---

| |
|:---|
| **Member of** |
| Deloitte Touche Tohmatsu Limited |

---

At your request, for the Mortgage Loan set forth on the Data File, we compared certain characteristics (the **"Characteristics"** as indicated on Appendix A), except for those Characteristics identified on Appendix A as "Identification purposes only - not applicable," "None - Mortgage Loan Seller Provided" or "Not Applicable," to the corresponding information set forth on or derived from the corresponding Source Documents and found them to be in agreement.

\*\*\*\*\*\*

We make no representations as to (i) the actual characteristics or existence of the underlying documents or data comprising the Mortgage Loan underlying the Data File or the conformity of their respective characteristics with those assumed for purposes of the procedures described herein, (ii) whether the Source Documents are comprehensive and valid instruments and reflect the current prevailing terms with respect to the corresponding Mortgage Loan, (iii) the existence or ownership of the Mortgage Loan or (iv) the reasonableness of any of the aforementioned assumptions, information or methodologies.

It should be understood that we make no representations as to questions of legal interpretation or as to the sufficiency for your purposes of the procedures enumerated in the preceding paragraphs. Also, such procedures would not necessarily reveal any material misstatement of the information referred to above. We have no responsibility to update this report for events and circumstances that occur subsequent to the date of this report.

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 ("AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to conduct, and did not conduct, an (i) audit conducted in accordance with generally accepted auditing standards or (ii) examination or a review engagement conducted in accordance with attestation standards established by the AICPA, the objective of which would be the expression of an opinion or conclusion, respectively, on the Data File. Accordingly, we do not express such an opinion or conclusion, or any other form of assurance, including reasonable assurance. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the Company and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

None of the engagement, procedures or report was intended to address, nor did they address, the (i) conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) value of collateral securing such assets or (iii) compliance of the originator of the assets with federal, state, and local laws and regulations.

None of the engagement, procedures or report were intended to satisfy, nor did they satisfy, any criteria for due diligence published by a nationally recognized statistical rating organization.

This report is intended solely for the use and information of the Specified Parties identified above and is not intended to be and should not be used by anyone other than these Specified Parties.

Yours truly,

/s/ Deloitte & Touche LLP

October 2, 2025

**Appendix A**

**Source Documents**

For purposes of performing the agreed-upon procedures described herein and at your request, we relied upon the following source documents as provided to us by the Company, with respect to the Mortgage Loan (collectively, the **"Source Documents"**):

Draft loan agreement, draft promissory note and draft amended and restated leasehold mortgage, assignment of leases and rents, security agreement and fixture filing (collectively, the **"Loan Agreement"**);

Draft guaranty agreement (the **"Guaranty"**);

Real estate property appraisal report (the **"Appraisal Report"**);

Property condition report (the **"Engineering Report"**);

Phase I Environmental Site Assessment (the **"Phase I"**);

Ground lease review report (the "**Ground Lease Review"**);

Certificate administrator schedule of fees (the **"Certificate Administrator Bid Proposal"**);

Operating advisor bid proposal (the **"Operating Advisor Bid Proposal"**);

Servicer response to request for proposal (the **"Servicer Bid Proposal"**);

Underwritten rent roll (the **"Rent Roll"**); and

The underwritten financial summaries (the **"Underwritten Financial Summary Report"**).

\*\*\*\*\*

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Characteristic** | &nbsp;&nbsp;**Source Document** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Loan Number | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Mortgage Loan Originators | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Mortgage Loan Sellers | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;Property Name | &nbsp;&nbsp;Identification purposes only - not applicable |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;Property Address | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;Property City | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;7 | &nbsp;&nbsp;Property State | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;8 | &nbsp;&nbsp;Property Zip Code | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;9 | &nbsp;&nbsp;County | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;10 | &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;11 | &nbsp;&nbsp;Year Renovated | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;12 | &nbsp;&nbsp;General Property Type | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;13 | &nbsp;&nbsp;Specific Property Type | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;14 | &nbsp;&nbsp;No. of Units | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;15 | &nbsp;&nbsp;Unit of Measure | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;16 | &nbsp;&nbsp;Occupancy | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;17 | &nbsp;&nbsp;Occupancy % Source Date | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;18 | &nbsp;&nbsp;Loan Purpose (Acquisition, Refinance) | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;19 | &nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Borrower Sponsor | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;21 | &nbsp;&nbsp;Non-Recourse Carveout Guarantor | &nbsp;&nbsp;Guaranty |
| &nbsp;&nbsp;22 | &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;23 | &nbsp;&nbsp;Note Date | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;24 | &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;25 | &nbsp;&nbsp;Maturity Date or Anticipated Repayment Date | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;26 | &nbsp;&nbsp;Mortgage Loan Coupon | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;27 | &nbsp;&nbsp;Monthly Debt Service ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;28 | &nbsp;&nbsp;Certificate Administrator Fee Rate | &nbsp;&nbsp;Certificate Administrator Bid Proposal |
| &nbsp;&nbsp;29 | &nbsp;&nbsp;Operating Advisor Fee Rate | &nbsp;&nbsp;Operating Advisor Bid Proposal |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Servicing Fee Rate | &nbsp;&nbsp;Servicer Bid Proposal |
| &nbsp;&nbsp;31 | &nbsp;&nbsp;CREFC® License Fee Rate | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;32 | &nbsp;&nbsp;Rate Type | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;33 | &nbsp;&nbsp;Interest Accrual Basis | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;34 | &nbsp;&nbsp;Trust Notes Original Principal Balance | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;35 | &nbsp;&nbsp;Trust Notes Cut-Off Date Balance | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Trust Notes Balloon Payment | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;37 | &nbsp;&nbsp;Pari Passu Debt (Y/N) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;38 | &nbsp;&nbsp;Whole Loan Original Principal Balance ($) | &nbsp;&nbsp;Loan Agreement |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Characteristic** | &nbsp;&nbsp;**Source Document** |
| &nbsp;&nbsp;39 | &nbsp;&nbsp;Whole Loan Cut-Off Date Balance ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;40 | &nbsp;&nbsp;Trust A Notes Original Principal Balance ($) | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;41 | &nbsp;&nbsp;Trust A Notes Cut-Off Date Balance ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;42 | &nbsp;&nbsp;Junior Notes Original Balance ($) | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;43 | &nbsp;&nbsp;Junior Notes Cut-off Date Balance ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;44 | &nbsp;&nbsp;Companion Notes Original Balance ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;45 | &nbsp;&nbsp;Companion Notes Cut-off Date Balance ($) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;46 | &nbsp;&nbsp;Companion Notes Description | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;47 | &nbsp;&nbsp;Prepayment Restriction Code | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Partial Release and/or Partial Prepayment (Y/N) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Partial Release and/or Prepayment Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;50 | &nbsp;&nbsp;Amortization Term (Original) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;Amortization Term (Remaining) | &nbsp;&nbsp;Not Applicable |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Loan Term (Original) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Loan Term (Remaining) | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Extension Options Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;IO Period | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;56 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;57 | &nbsp;&nbsp;Loan Amortization Type | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;58 | &nbsp;&nbsp;Appraisal Firm | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;59 | &nbsp;&nbsp;As-Is Appraisal Valuation Date | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;60 | &nbsp;&nbsp;As-Is Appraised Value ($) | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;61 | &nbsp;&nbsp;As-Stabilized Appraised Value ($) | &nbsp;&nbsp;Appraisal Report |
| &nbsp;&nbsp;62 | &nbsp;&nbsp;As-Is LTV Ratio | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;63 | &nbsp;&nbsp;As-Stabilized LTV Ratio | &nbsp;&nbsp;Not Applicable |
| &nbsp;&nbsp;64 | &nbsp;&nbsp;UW NCF DSCR | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;65 | &nbsp;&nbsp;Underwritten NOI Debt Yield | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;66 | &nbsp;&nbsp;Underwritten NCF Debt Yield | &nbsp;&nbsp;Refer to calculation procedures |
| &nbsp;&nbsp;67 | &nbsp;&nbsp;Underwritten Effective Gross Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;68 | &nbsp;&nbsp;Underwritten Expenses ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Underwritten Net Operating Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;70 | &nbsp;&nbsp;Underwritten Net Cash Flow ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;TTM July 2025 Effective Gross Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;72 | &nbsp;&nbsp;TTM July 2025 Expenses ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;73 | &nbsp;&nbsp;TTM July 2025 Net Operating Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;74 | &nbsp;&nbsp;TTM July 2025 Net Cash Flow ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;75 | &nbsp;&nbsp;2024 Effective Gross Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;2024 Expenses ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Characteristic** | &nbsp;&nbsp;**Source Document** |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;2024 Net Operating Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;2024 Net Cash Flow ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;79 | &nbsp;&nbsp;2023 Effective Gross Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;80 | &nbsp;&nbsp;2023 Expenses ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;81 | &nbsp;&nbsp;2023 Net Operating Income ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;82 | &nbsp;&nbsp;2023 Net Cash Flow ($) | &nbsp;&nbsp;Underwritten Financial Summary Report |
| &nbsp;&nbsp;83 | &nbsp;&nbsp;Lien Position | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;84 | &nbsp;&nbsp;Title Vesting (Fee/Leasehold/Both) | &nbsp;&nbsp;None - Mortgage Loan Seller Provided |
| &nbsp;&nbsp;85 | &nbsp;&nbsp;Ground Lease Initial Expiration Date | &nbsp;&nbsp;Ground Lease Review |
| &nbsp;&nbsp;86 | &nbsp;&nbsp;Type of Lockbox | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;87 | &nbsp;&nbsp;Cash Management Trigger Event Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;88 | &nbsp;&nbsp;Tax Escrow (Initial) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;89 | &nbsp;&nbsp;Tax Escrow (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;90 | &nbsp;&nbsp;Springing Tax Escrow Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;91 | &nbsp;&nbsp;Insurance Escrow (Initial) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;92 | &nbsp;&nbsp;Insurance Escrow (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;93 | &nbsp;&nbsp;Springing Insurance Escrow Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;94 | &nbsp;&nbsp;Replacement Reserve (Initial) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;95 | &nbsp;&nbsp;Replacement Reserve (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;96 | &nbsp;&nbsp;Replacement Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;97 | &nbsp;&nbsp;TI/LC Reserve (Initial) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;98 | &nbsp;&nbsp;TI/LC Reserve (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;99 | &nbsp;&nbsp;Springing TI/LC Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;100 | &nbsp;&nbsp;Other Escrow I Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;101 | &nbsp;&nbsp;Other Escrow I (Initial) ($) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Other Escrow I (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;103 | &nbsp;&nbsp;Springing Other Escrow I Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Other Escrow II Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;105 | &nbsp;&nbsp;Other Escrow II (Initial) ($) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;106 | &nbsp;&nbsp;Other Escrow II (Monthly) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;Springing Other Escrow II Reserve Description | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;108 | &nbsp;&nbsp;Future Mezzanine Debt Permitted (Y/N) | &nbsp;&nbsp;Loan Agreement |
| &nbsp;&nbsp;109 | &nbsp;&nbsp;Environmental Phase I Report Firm | &nbsp;&nbsp;Phase I |
| &nbsp;&nbsp;110 | &nbsp;&nbsp;Environmental Phase I Report Date | &nbsp;&nbsp;Phase I |
| &nbsp;&nbsp;111 | &nbsp;&nbsp;Phase II Performed | &nbsp;&nbsp;Phase I |
| &nbsp;&nbsp;112 | &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;113 | &nbsp;&nbsp;Engineering Report Firm | &nbsp;&nbsp;Engineering Report |
| &nbsp;&nbsp;114 | &nbsp;&nbsp;Seismic Report Firm | &nbsp;&nbsp;Not Applicable |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Characteristic** | &nbsp;&nbsp;**Source Document** |
| &nbsp;&nbsp;115 | &nbsp;&nbsp;Seismic Report Date | &nbsp;&nbsp;Not Applicable |
| &nbsp;&nbsp;116 | &nbsp;&nbsp;Largest Tenant Name | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;117 | &nbsp;&nbsp;Largest Tenant SqFt | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;118 | &nbsp;&nbsp;Largest Tenant Exp. Date | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;119 | &nbsp;&nbsp;2nd Largest Tenant Name | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;2nd Largest Tenant SqFt | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;121 | &nbsp;&nbsp;2nd Largest Tenant Exp. Date | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;3rd Largest Tenant Name | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;123 | &nbsp;&nbsp;3rd Largest Tenant SqFt | &nbsp;&nbsp;Rent Roll |
| &nbsp;&nbsp;124 | &nbsp;&nbsp;3rd Largest Tenant Exp. Date | &nbsp;&nbsp;Rent Roll |

---

**<u>Calculation Procedures</u>**

With respect to Characteristic 27, we recomputed the Monthly Debt Service ($) by dividing (i) the product of (a) the Trust Notes Cut-Off Date Balance, (b) the Mortgage Loan Coupon and (c) a fraction equal to 365/360 by (ii) twelve.

With respect to Characteristic 35, we recomputed the Trust Notes Cut-Off Date Balance as being equal to the Trust Notes Original Principal Balance.

With respect to Characteristic 36, we recomputed the Trust Notes Balloon Payment as being equal to the Trust Notes Original Principal Balance.

With respect to Characteristic 39, we recomputed the Whole Loan Cut-Off Date Balance ($) as being equal to the Whole Loan Original Principal Balance ($).

With respect to Characteristic 41, we recomputed the Trust A Notes Cut-Off Date Balance ($) as being equal to the Trust A Notes Original Principal Balance ($).

With respect to Characteristic 43, we recomputed the Junior Notes Cut-Off Date Balance ($) as being equal to the Junior Notes Original Balance ($).

With respect to Characteristic 44, we recomputed the Companion Notes Original Balance ($) by subtracting the (i) Trust Notes Original Principal Balance from (ii) Whole Loan Original Principal Balance ($).

With respect to Characteristic 45, we recomputed the Companion Notes Cut-Off Date Balance ($) as being equal to the Companion Notes Original Balance ($).

With respect to Characteristic 52, we recomputed the Loan Term (Original) by determining the number of payment dates from and inclusive of the First Payment Date to and inclusive of the Maturity Date or Anticipated Repayment Date.

With respect to Characteristic 53, we recomputed the Loan Term (Remaining) by subtracting the (i) Seasoning from (ii) Loan Term (Original).

With respect to Characteristic 56, we recomputed the Seasoning by determining the number of payment dates from and inclusive of the First Payment Date to and inclusive of October 1, 2025 (the **"Cut-off Date"**) as stipulated by representatives of the Company.

With respect to Characteristic 62, we recomputed the As-Is LTV Ratio by dividing the (i) Whole Loan Cut-Off Date Balance ($) by (ii) As-Is Appraised Value ($).

With respect to Characteristic 64, we recomputed the UW NCF DSCR by dividing the (i) Underwritten Net Cash Flow ($) by (ii) product of (a) the Whole Loan Cut-Off Date Balance ($), (b) the Mortgage Loan Coupon and (c) a fraction equal to 365/360.

With respect to Characteristic 65, we recomputed the Underwritten NOI Debt Yield by dividing the (i) Underwritten Net Operating Income ($) by (ii) Whole Loan Cut-Off Date Balance ($).

With respect to Characteristic 66, we recomputed the Underwritten NCF Debt Yield by dividing the (i) Underwritten Net Cash Flow ($) by (ii) Whole Loan Cut-Off Date Balance ($).