EDGAR 10-K Filing

Company CIK: 1916018
Filing Year: 2024
Filename: 1916018_10-K_2024_0001888524-24-003214.json

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ITEM 1. BUSINESS
Item 1. Business.
Omitted.

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ITEM 1A. RISK FACTORS
Item 1A. Risk Factors.
Omitted.

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ITEM 1B. UNRESOLVED STAFF COMMENTS
Item 1B. Unresolved Staff Comments.
None.

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ITEM 2. PROPERTIES
Item 2. Properties.
Omitted.

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ITEM 3. LEGAL PROCEEDINGS
Item 3. Legal Proceedings.
Omitted.

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ITEM 4. MINE SAFETY DISCLOSURE
Item 4. Mine Safety Disclosures.
Not applicable.
PART II

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ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Omitted.

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ITEM 6. SELECTED FINANCIAL DATA
Item 6. [Reserved]

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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Omitted.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Omitted.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Item 8. Financial Statements and Supplementary Data.
Omitted.

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
Omitted.

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ITEM 9A. CONTROLS AND PROCEDURES
Item 9A. Controls and Procedures.
Omitted.

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ITEM 9B. OTHER INFORMATION
Item 9B. Other Information.
None.

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ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Item 10. Directors, Executive Officers and Corporate Governance.
Omitted.

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ITEM 11. EXECUTIVE COMPENSATION
Item 11. Executive Compensation.
Omitted.

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Omitted.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Item 13. Certain Relationships and Related Transactions, and Director Independence.
Omitted.

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ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Item 14. Principal Accountant Fees and Services.
Omitted.
ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB
Item 1112(b) of Regulation AB, Significant Obligor Financial Information.
No single obligor represents 10% or more of the pool assets held by the issuing entity.
Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider Financial Information.
No entity or group of affiliated entities provides any external credit enhancement or other support for the certificates within this transaction as described under Item 1114(a) of Regulation AB.
Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information).
No entity or group of affiliated entities provides any derivative instruments or other support for the certificates within this transaction as described under Item 1115 of Regulation AB.
Item 1117 of Regulation AB, Legal Proceedings.
The registrant knows of no material pending legal proceeding involving the trust or any party related to the trust, other than routine litigation incidental to the duties of those respective parties.
Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related Transactions.
The information regarding this Item has been previously provided in the prospectus of the Registrant relating to the issuing entity filed on April 18, 2022 pursuant to Rule 424(b)(2).
Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.
The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to the mortgage loans are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the Pooling and Servicing Agreement incorporated by reference as Exhibit 4.1 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the transaction responsible for each applicable servicing criteria set forth in Item 1122(d).
The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to The Hallmark Mortgage Loan, which is being serviced and administered pursuant to the pooling and servicing agreement for the BBCMS 2022-C14 Transaction, are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the pooling and servicing agreement for the BBCMS 2022-C14 Transaction incorporated by reference as Exhibit 4.2 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the BBCMS 2022-C14 Transaction responsible for each applicable servicing criteria set forth in Item 1122(d).
The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to the GS Foods Portfolio Mortgage Loan, which is being serviced and administered pursuant to the pooling and servicing agreement for the BANK 2022-BNK40 Transaction, are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the pooling and servicing agreement for the BANK 2022-BNK40 Transaction incorporated by reference as Exhibit 4.3 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the BANK 2022-BNK40 Transaction responsible for each applicable servicing criteria set forth in Item 1122(d).
The reports on assessments of compliance with the servicing criteria for asset-backed securities and related attestation reports on such assessments of compliance with respect to the ILPT Logistics Portfolio Mortgage Loan, which is being serviced and administered pursuant to the trust and servicing agreement for the ILPT 2022-LPFX Transaction, are attached hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit L to the trust and servicing agreement for the ILPT 2022-LPFX Transaction incorporated by reference as Exhibit 4.4 to this Annual Report on Form 10-K is a chart identifying the entities participating in a servicing function for the ILPT 2022-LPFX Transaction responsible for each applicable servicing criteria set forth in Item 1122(d).
Item 1123 of Regulation AB, Servicer Compliance Statement.
The servicer compliance statements are attached as Exhibits to this Annual Report on Form 10-K.
PART IV

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Item 15. Exhibit and Financial Statement Schedules
(a) The following is a list of documents filed as part of this Annual Report on Form 10-K:
(1) Not applicable
(2) Not applicable
(3) See below
4.1 Pooling and Servicing Agreement, dated as of April 1, 2022, between Wells Fargo Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, National Association, as Master Servicer, Argentic Services Company LP, as Special Servicer, Computershare Trust Company, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer (filed as Exhibit 4.1 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.2 Pooling and Servicing Agreement, dated as of February 1, 2022, between Barclays Commercial Mortgage Securities LLC, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Computershare Trust Company, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer (filed as Exhibit 4.4 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.3 Pooling and Servicing Agreement, dated as of March 1, 2022, among Wells Fargo Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, National Association, as General Master Servicer, CWCapital Asset Management LLC, as General Special Servicer, National Cooperative Bank, N.A., as NCB Master Servicer and as NCB Special Servicer, Computershare Trust Company, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations Reviewer (filed as Exhibit 4.2 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.4 Trust and Servicing Agreement, dated as of March 6, 2022, among Citigroup Commercial Mortgage Securities Inc., as Depositor, Berkadia Commercial Mortgage LLC, as Servicer, Situs Holdings, LLC, as Special Servicer, Wilmington Trust, National Association, as Trustee, Computershare Trust Company, National Association, as Certificate Administrator, and Park Bridge Lender Services LLC, as Operating Advisor (filed as Exhibit 4.3 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.5 Co-Lender Agreement, dated as of February 2, 2022, by and between SPREF WH IV LLC, as Initial Note A-1 Holder, SPREF WH IV LLC, as Initial Note A-2 Holder, SPREF WH IV LLC, as Initial Note A-3 Holder, and SPREF WH IV LLC, as Initial Note A-4 Holder (filed as Exhibit 4.5 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.6 Agreement Between Note Holders, dated as of March 10, 2022, by and between Wells Fargo Bank, National Association, as Initial Note A-1 Holder, and Wells Fargo Bank, National Association, as Initial Note A-2 Holder (filed as Exhibit 4.6 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.7 Agreement Between Noteholders, dated as of March 6, 2022, by and among Citi Real Estate Funding Inc., as Initial Note A-1-A Holder, Initial Note A-2-A-1 Holder and Initial Note A-2-A-2 Holder, UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, as Initial Note A-1-B Holder, Initial Note A-2-B-1 Holder, Initial Note A-2-B-2 Holder and Initial Note A-2-B-3 Holder, Bank of America, N.A., as Initial Note A-1-C Holder and Initial Note A-2-C Holder, Bank of Montreal, as Initial Note A-1-D Holder and Initial Note A-2-D Holder, Morgan Stanley Bank N.A., as Initial Note A-1-E Holder and Initial Note A-2-E Holder, Citi Real Estate Funding Inc., as Initial Note B-1 Holder, UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, as Initial Note B-2 Holder, Bank of America, N.A., as Initial Note B-3 Holder, Bank of Montreal, as Initial Note B-4 Holder, and Morgan Stanley Bank N.A., as Initial Note B-5 Holder (filed as Exhibit 4.7 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
4.8 Co-Lender Agreement, dated as of February 23, 2022, by and between BSPRT CMBS Finance, LLC, as Initial Note A-1 Holder, and BSPRT CMBS Finance, LLC, as Initial Note A-2 Holder (filed as Exhibit 4.8 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
Rule 13a-14(d)/15d-14(d) Certifications.
Reports on assessment of compliance with servicing criteria for asset-backed securities.
33.1 Wells Fargo Bank, National Association, as Master Servicer
33.2 Argentic Services Company LP, as Special Servicer
33.3 Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory Notes.)
33.4 Computershare Trust Company, National Association, as Certificate Administrator
33.5 Computershare Trust Company, National Association, as Custodian
33.6 Park Bridge Lender Services LLC, as Operating Advisor
33.7 CoreLogic Solutions, LLC, as Servicing Function Participant
33.8 Wells Fargo Bank, National Association, as Primary Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 33.1)
33.9 Argentic Services Company LP, as Special Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 33.2)
33.10 Wilmington Trust, National Association, as Trustee of the Pacific Castle Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.11 Computershare Trust Company, National Association, as Custodian of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 33.5)
33.12 Park Bridge Lender Services LLC, as Operating Advisor of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 33.6)
33.13 CoreLogic Solutions, LLC, as Servicing Function Participant of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 33.7)
33.14 Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of The Hallmark Mortgage Loan (Omitted. See Explanatory Notes.)
33.15 Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of The Hallmark Mortgage Loan prior to May 2, 2023 (Omitted. See Explanatory Notes.)
33.16 K-Star Asset Management LLC, as Special Servicer of The Hallmark Mortgage Loan on and after May 2, 2023 (Omitted. See Explanatory Notes.)
33.17 Wilmington Trust, National Association, as Trustee of The Hallmark Mortgage Loan (Omitted. See Explanatory Notes.)
33.18 Computershare Trust Company, National Association, as Custodian of The Hallmark Mortgage Loan (see Exhibit 33.5)
33.19 Park Bridge Lender Services LLC, as Operating Advisor of The Hallmark Mortgage Loan (see Exhibit 33.6)
33.20 Wells Fargo Bank, National Association, as Primary Servicer of the GS Foods Portfolio Mortgage Loan (see Exhibit 33.1)
33.21 CWCapital Asset Management LLC, as Special Servicer of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.22 Wilmington Trust, National Association, as Trustee of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.23 Computershare Trust Company, National Association, as Custodian of the GS Foods Portfolio Mortgage Loan (see Exhibit 33.5)
33.24 Pentalpha Surveillance LLC, as Operating Advisor of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.25 CoreLogic Solutions, LLC, as Servicing Function Participant of the GS Foods Portfolio Mortgage Loan (see Exhibit 33.7)
33.26 Berkadia Commercial Mortgage LLC, as Primary Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.27 Situs Holdings, LLC, as Special Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.28 Wilmington Trust, National Association, as Trustee of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
33.29 Computershare Trust Company, National Association, as Custodian of the ILPT Logistics Portfolio Mortgage Loan (see Exhibit 33.5)
33.30 Park Bridge Lender Services LLC, as Operating Advisor of the ILPT Logistics Portfolio Mortgage Loan (see Exhibit 33.6)
Attestation reports on assessment of compliance with servicing criteria for asset-backed securities.
34.1 Wells Fargo Bank, National Association, as Master Servicer
34.2 Argentic Services Company LP, as Special Servicer
34.3 Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory Notes.)
34.4 Computershare Trust Company, National Association, as Certificate Administrator
34.5 Computershare Trust Company, National Association, as Custodian
34.6 Park Bridge Lender Services LLC, as Operating Advisor
34.7 CoreLogic Solutions, LLC, as Servicing Function Participant
34.8 Wells Fargo Bank, National Association, as Primary Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 34.1)
34.9 Argentic Services Company LP, as Special Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 34.2)
34.10 Wilmington Trust, National Association, as Trustee of the Pacific Castle Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.11 Computershare Trust Company, National Association, as Custodian of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 34.5)
34.12 Park Bridge Lender Services LLC, as Operating Advisor of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 34.6)
34.13 CoreLogic Solutions, LLC, as Servicing Function Participant of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 34.7)
34.14 Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of The Hallmark Mortgage Loan (Omitted. See Explanatory Notes.)
34.15 Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of The Hallmark Mortgage Loan prior to May 2, 2023 (Omitted. See Explanatory Notes.)
34.16 K-Star Asset Management LLC, as Special Servicer of The Hallmark Mortgage Loan on and after May 2, 2023 (Omitted. See Explanatory Notes.)
34.17 Wilmington Trust, National Association, as Trustee of The Hallmark Mortgage Loan (Omitted. See Explanatory Notes.)
34.18 Computershare Trust Company, National Association, as Custodian of The Hallmark Mortgage Loan (see Exhibit 34.5)
34.19 Park Bridge Lender Services LLC, as Operating Advisor of The Hallmark Mortgage Loan (see Exhibit 34.6)
34.20 Wells Fargo Bank, National Association, as Primary Servicer of the GS Foods Portfolio Mortgage Loan (see Exhibit 34.1)
34.21 CWCapital Asset Management LLC, as Special Servicer of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.22 Wilmington Trust, National Association, as Trustee of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.23 Computershare Trust Company, National Association, as Custodian of the GS Foods Portfolio Mortgage Loan (see Exhibit 34.5)
34.24 Pentalpha Surveillance LLC, as Operating Advisor of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.25 CoreLogic Solutions, LLC, as Servicing Function Participant of the GS Foods Portfolio Mortgage Loan (see Exhibit 34.7)
34.26 Berkadia Commercial Mortgage LLC, as Primary Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.27 Situs Holdings, LLC, as Special Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.28 Wilmington Trust, National Association, as Trustee of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
34.29 Computershare Trust Company, National Association, as Custodian of the ILPT Logistics Portfolio Mortgage Loan (see Exhibit 34.5)
34.30 Park Bridge Lender Services LLC, as Operating Advisor of the ILPT Logistics Portfolio Mortgage Loan (see Exhibit 34.6)
Servicer compliance statements.
35.1 Wells Fargo Bank, National Association, as Master Servicer
35.2 Argentic Services Company LP, as Special Servicer
35.3 Computershare Trust Company, National Association, as Certificate Administrator
35.4 Wells Fargo Bank, National Association, as Primary Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 35.1)
35.5 Argentic Services Company LP, as Special Servicer of the Pacific Castle Portfolio Mortgage Loan (see Exhibit 35.2)
35.6 Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer of The Hallmark Mortgage Loan (Omitted. See Explanatory Notes.)
35.7 Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer of The Hallmark Mortgage Loan prior to May 2, 2023 (Omitted. See Explanatory Notes.)
35.8 K-Star Asset Management LLC, as Special Servicer of The Hallmark Mortgage Loan on and after May 2, 2023 (Omitted. See Explanatory Notes.)
35.9 Wells Fargo Bank, National Association, as Primary Servicer of the GS Foods Portfolio Mortgage Loan (see Exhibit 35.1)
35.10 CWCapital Asset Management LLC, as Special Servicer of the GS Foods Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
35.11 Berkadia Commercial Mortgage LLC, as Primary Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
35.12 Situs Holdings, LLC, as Special Servicer of the ILPT Logistics Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)
99.1 Mortgage Loan Purchase Agreement, dated as of April 4, 2022, between Wells Fargo Bank, National Association, and Wells Fargo Commercial Mortgage Securities, Inc. (filed as Exhibit 99.5 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
99.2 Mortgage Loan Purchase Agreement, dated as of April 4, 2022, between LMF Commercial, LLC, and Wells Fargo Commercial Mortgage Securities, Inc. (filed as Exhibit 99.1 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
99.3 Mortgage Loan Purchase Agreement, dated as of April 4, 2022, between Argentic Real Estate Finance LLC and Wells Fargo Commercial Mortgage Securities, Inc. (filed as Exhibit 99.2 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
99.4 Mortgage Loan Purchase Agreement, dated as of April 4, 2022, among BSPRT CMBS Finance, LLC, Franklin BSP Realty Trust, Inc. and Wells Fargo Commercial Mortgage Securities, Inc. (filed as Exhibit 99.3 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
99.5 Mortgage Loan Purchase Agreement, dated as of April 4, 2022, between UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, and Wells Fargo Commercial Mortgage Securities, Inc. (filed as Exhibit 99.4 to the registrant’s Current Report on Form 8-K filed on April 18, 2022 under Commission File No. 333-257991-04 and incorporated by reference herein).
(b) The exhibits required to be filed by the Registrant pursuant to Item 601 of Regulation S-K are listed above.
(c) Not Applicable.