EDGAR 10-K Filing

Company CIK: 2016841
Filing Year: 2025
Filename: 2016841_10-K_2025_0001888524-25-006437.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.

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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.
Selected Financial Data.
Omitted.

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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 Accounting Fees and Services.
Omitted.
ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB
Item 1112(b) of Regulation AB, Significant Obligor Financial Information.
With respect to the pool assets for Benchmark 2024-V7 Mortgage Trust, there are no significant obligors within the meaning of Item 1101(k) of Regulation AB.
Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider Financial Information.
No entity or group of affiliated entities provides any external credit enhancement, uses any derivative instruments or other support for the certificates within this transaction.
Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information).
No entity or group of affiliated entities provides any external credit enhancement, uses any derivative instruments or other support for the certificates within this transaction.
Item 1117 of Regulation AB, Legal Proceedings.
The registrant knows of no legal proceeding pending against the sponsors, depositor, trustee, issuing entity, servicer contemplated by Item 1108(a)(3) of Regulation AB, originator contemplated by Item 1110(b) of Regulation AB, or other party contemplated by Item 1100(d)(1) of Regulation AB, or of which any property of the foregoing is the subject, that is material to security holders.
Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related Transactions.
Provided previously in the prospectus of the Registrant relating to the issuing entity and filed on May 24, 2024 pursuant to Rule 424(b)(2) of the Securities Act of 1933, as amended.
Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.
The reports on assessment of compliance with the servicing criteria for asset-backed securities and the related attestation reports on such assessments of compliance are attached hereto under Item 15.
Item 1123 of Regulation AB, Servicer Compliance Statement.
The servicer compliance statements are attached hereto under Item 15.
PART IV

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Item 15. Exhibits, Financial Statement Schedules.
(a) List the following documents filed as part of the report:
(1) Not Applicable
(2) Not Applicable
(3) Exhibits listed below are either included or incorporated by reference as indicated below:
(4.1) Pooling and Servicing Agreement, dated as of May 1, 2024 (“Benchmark 2024-V7 PSA”), among Citigroup Commercial Mortgage Securities Inc., as depositor, Midland Loan Services, A Division of PNC Bank, National Association, as master servicer, K-Star Asset Management LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer, and Computershare Trust Company, National Association, as certificate administrator and as trustee (filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K/A dated May 30, 2024, and filed on May 30, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(4.2) Pooling and Servicing Agreement, dated as of March 1, 2024 (“Benchmark 2024-V6 PSA”), among GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, A Division of PNC Bank, National Association, as master servicer, LNR Partners, LLC, as special servicer, Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, and Computershare Trust Company, National Association, as certificate administrator and as trustee (filed as Exhibit 4.2 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein). (See Explanatory Note 1)
(4.3) Pooling and Servicing Agreement, dated as of May 1, 2024 (“BMO 2024-5C4 PSA”), among BMO Commercial Mortgage Securities LLC, as depositor, Midland Loan Services, A Division of PNC Bank, National Association, as master servicer, Argentic Services Company LP, as special servicer, Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, and Computershare Trust Company, National Association, as certificate administrator and as trustee (filed as Exhibit 4.3 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein). (See Explanatory Note 2)
(4.4) Trust and Servicing Agreement, dated as of December 22, 2023 (“NJ 2023-GSP TSA”), among GS Mortgage Securities Corporation II, as depositor, Berkadia Commercial Mortgage LLC, as master servicer, Argentic Services Company LP, as special servicer, Pentalpha Surveillance LLC, as operating advisor, and Computershare Trust Company, National Association, as certificate administrator, as custodian, and as trustee (filed as Exhibit 4.4 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein). (See Explanatory Note 3)
(4.5) Pooling and Servicing Agreement, dated as of August 1, 2024 (“Benchmark 2024-V9 PSA”), among GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, 3650 REIT Loan Servicing LLC, as special servicer, Computershare Trust Company, National Association, as certificate administrator and 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 dated August 29, 2024, and filed on September 5, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein). (See Explanatory Note 4)
31 Rule 13a-14(d)/15d-14(d) Certification.
Reports on assessment of compliance with servicing criteria for asset-backed securities. (See Explanatory Note 5)
33.1 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer
33.2 K-Star Asset Management LLC, as special servicer
33.3 Park Bridge Lender Services LLC, as operating advisor
33.4 Computershare Trust Company, National Association, as certificate administrator and trustee
33.5 Computershare Trust Company, National Association, as custodian
33.6 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V6 PSA, pursuant to which the Prime Storage - Hudson Valley Portfolio mortgage loan is serviced. (see Exhibit 33.1)
33.7 LNR Partners, LLC, as special servicer for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA.
33.8 Pentalpha Surveillance LLC, as operating advisor for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA.
33.9 Computershare Trust Company, National Association, as custodian for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA. (see Exhibit 33.5)
33.10 Computershare Trust Company, National Association, as trustee under the Benchmark 2024-V6 PSA, pursuant to which the Prime Storage - Hudson Valley Portfolio mortgage loan is serviced. (see Exhibit 33.4)
33.11 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the BMO 2024-5C4 PSA, pursuant to which the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan are serviced. (see Exhibit 33.1)
33.12 Argentic Services Company LP, as special servicer for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA.
33.13 Pentalpha Surveillance LLC, as operating advisor for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA. (see Exhibit 33.8)
33.14 Computershare Trust Company, National Association, as custodian for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA. (see Exhibit 33.5)
33.15 Computershare Trust Company, National Association, as trustee under the BMO 2024-5C4 PSA, pursuant to which the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan are serviced. (see Exhibit 33.4)
33.16 Argentic Services Company LP, as special servicer for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 33.12)
33.17 Pentalpha Surveillance LLC, as operating advisor for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 33.8)
33.18 Computershare Trust Company, National Association, as custodian for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 33.5)
33.19 Computershare Trust Company, National Association, as trustee under the NJ 2023-GSP TSA, pursuant to which the Garden State Plaza mortgage loan is serviced. (see Exhibit 33.4)
33.20 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V9 PSA, pursuant to which the Columbus Business Park mortgage loan is serviced on and after August 29, 2024. (see Exhibit 33.1)
33.21 Park Bridge Lender Services LLC, as operating advisor for the Columbus Business Park mortgage loan under the Benchmark 2024-V9 PSA on and after August 29, 2024. (see Exhibit 33.3)
33.22 Computershare Trust Company, National Association, as custodian for the Columbus Business Park mortgage loan under the Benchmark 2024-V9 PSA on and after August 29, 2024. (see Exhibit 33.5)
33.23 Computershare Trust Company, National Association, as trustee under the Benchmark 2024-V9 PSA, pursuant to which the Columbus Business Park mortgage loan is serviced on and after August 29, 2024. (see Exhibit 33.4)
34 Attestation reports on assessment of compliance with servicing criteria for asset-backed securities. (See Explanatory Note 5)
34.1 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer
34.2 K-Star Asset Management LLC, as special servicer
34.3 Park Bridge Lender Services LLC, as operating advisor
34.4 Computershare Trust Company, National Association, as certificate administrator and trustee
34.5 Computershare Trust Company, National Association, as custodian
34.6 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V6 PSA, pursuant to which the Prime Storage - Hudson Valley Portfolio mortgage loan is serviced. (see Exhibit 34.1)
34.7 LNR Partners, LLC, as special servicer for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA.
34.8 Pentalpha Surveillance LLC, as operating advisor for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA.
34.9 Computershare Trust Company, National Association, as custodian for the Prime Storage - Hudson Valley Portfolio mortgage loan under the Benchmark 2024-V6 PSA. (see Exhibit 34.5)
34.10 Computershare Trust Company, National Association, as trustee under the Benchmark 2024-V6 PSA, pursuant to which the Prime Storage - Hudson Valley Portfolio mortgage loan is serviced. (see Exhibit 34.4)
34.11 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the BMO 2024-5C4 PSA, pursuant to which the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan are serviced. (see Exhibit 34.1)
34.12 Argentic Services Company LP, as special servicer for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA.
34.13 Pentalpha Surveillance LLC, as operating advisor for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA. (see Exhibit 34.8)
34.14 Computershare Trust Company, National Association, as custodian for the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan under the BMO 2024-5C4 PSA. (see Exhibit 34.5)
34.15 Computershare Trust Company, National Association, as trustee under the BMO 2024-5C4 PSA, pursuant to which the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan are serviced. (see Exhibit 34.4)
34.16 Argentic Services Company LP, as special servicer for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 34.12)
34.17 Pentalpha Surveillance LLC, as operating advisor for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 34.8)
34.18 Computershare Trust Company, National Association, as custodian for the Garden State Plaza mortgage loan under the NJ 2023-GSP TSA. (see Exhibit 34.5)
34.19 Computershare Trust Company, National Association, as trustee under the NJ 2023-GSP TSA, pursuant to which the Garden State Plaza mortgage loan is serviced. (see Exhibit 34.4)
34.20 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V9 PSA, pursuant to which the Columbus Business Park mortgage loan is serviced on and after August 29, 2024. (see Exhibit 34.1)
34.21 Park Bridge Lender Services LLC, as operating advisor for the Columbus Business Park mortgage loan under the Benchmark 2024-V9 PSA on and after August 29, 2024. (see Exhibit 34.3)
34.22 Computershare Trust Company, National Association, as custodian for the Columbus Business Park mortgage loan under the Benchmark 2024-V9 PSA on and after August 29, 2024. (see Exhibit 34.5)
34.23 Computershare Trust Company, National Association, as trustee under the Benchmark 2024-V9 PSA, pursuant to which the Columbus Business Park mortgage loan is serviced on and after August 29, 2024. (see Exhibit 34.4)
35 Servicer compliance statement. (See Explanatory Note 6)
35.1 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer
35.2 K-Star Asset Management LLC, as special servicer
35.3 Computershare Trust Company, National Association, as certificate administrator
35.4 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V6 PSA, pursuant to which the Prime Storage - Hudson Valley Portfolio mortgage loan is serviced. (see Exhibit 35.1)
35.5 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the BMO 2024-5C4 PSA, pursuant to which the GNL Industrial Portfolio mortgage loan and the 620 W 153rd Street mortgage loan are serviced. (see Exhibit 35.1)
35.6 Midland Loan Services, a Division of PNC Bank, National Association, as master servicer under the Benchmark 2024-V9 PSA, pursuant to which the Columbus Business Park mortgage loan is serviced on and after August 29, 2024. (see Exhibit 35.1)
(99.1) Mortgage Loan Purchase Agreement, dated as of May 30, 2024, between Citi Real Estate Funding Inc. and Citigroup Commercial Mortgage Securities Inc., pursuant to which Citi Real Estate Funding Inc. sold certain mortgage loans to Citigroup Commercial Mortgage Securities Inc. (filed as Exhibit 99.1 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(99.2) Mortgage Loan Purchase Agreement, dated as of May 30, 2024, between Goldman Sachs Mortgage Company and Citigroup Commercial Mortgage Securities Inc., pursuant to which Goldman Sachs Mortgage Company sold certain mortgage loans to Citigroup Commercial Mortgage Securities Inc. (filed as Exhibit 99.2 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(99.3) Mortgage Loan Purchase Agreement, dated as of May 30, 2024, between German American Capital Corporation and Citigroup Commercial Mortgage Securities Inc., pursuant to which German American Capital Corporation sold certain mortgage loans to Citigroup Commercial Mortgage Securities Inc. (filed as Exhibit 99.3 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(99.4) Mortgage Loan Purchase Agreement, dated as of May 30, 2024, between Barclays Capital Real Estate Inc., Barclays Capital Holdings Inc., and Citigroup Commercial Mortgage Securities Inc., pursuant to which Barclays Capital Real Estate Inc. sold certain mortgage loans to Citigroup Commercial Mortgage Securities Inc. (filed as Exhibit 99.4 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(99.5) Mortgage Loan Purchase Agreement, dated as of May 30, 2024, between Bank of Montreal and Citigroup Commercial Mortgage Securities Inc., pursuant to which Bank of Montreal sold certain mortgage loans to Citigroup Commercial Mortgage Securities Inc. (filed as Exhibit 99.5 to the registrant's Current Report on Form 8-K dated May 22, 2024, and filed on May 24, 2024 under Commission File No. 333-262701-06, and is incorporated by reference herein).
(b) The exhibits required to be filed by Registrant pursuant to Item 601of Regulation S-K are listed above.
(c) Not Applicable