BELLOAK ADVISORS (LOGO)

 

MANAGEMENT’S REPORT ON ASSESSMENT OF COMPLIANCE WITH SEC REGULATION AB SERVICING CRITERIA

 

1.BellOak, LLC (the “Company”, or “BellOak”) is responsible for assessing compliance with the servicing criteria applicable to it in Items 1122(d)(3)(i)(A-B) and 1122(d)(4)(vii) of paragraph (d) of Item 1122 of the U.S. Securities and Exchange Commission’s Regulation AB, as of and for the year ended December 31, 2025, (the “Reporting Period”), as set forth in Appendix A hereto (the “applicable servicing criteria”). The transactions covered by this report include asset-backed securities transactions for which the Company acted as the Senior Trust Advisor, Trust Advisor, and Operating Advisor for the asset-backed securities transactions listed in Appendix B hereto (the “Platform”).

 

2.BellOak, LLC used the criteria set forth in Items 1122(d)(3)(i)(A-B) and 1122(d)(4)(vii) of paragraph (d) of Item 1122 of Regulation AB (defined in Appendix A) to provide an assertion on the Company’s assessment of compliance with the applicable servicing criteria.

 

3.BellOak, LLC has complied, in all material respects, with the applicable servicing criteria as of and for the year ended December 31, 2025, for the Platform.

 

4.Grant Thornton LLP, an independent registered public accounting firm, has issued an attestation report on the Company’s assertion on compliance with the applicable servicing criteria for the Reporting Period.

 

BellOak, LLC

February 20, 2026

 

/s/ Dennis Grzeskowiak

 

Dennis Grzeskowiak, Principal of BellOak, LLC

 

Page | 1

 

 

BELLOAK ADVISORS (LOGO)

 

Appendix A – Applicable Servicing Criteria

 

SERVICING CRITERIA
Reference Criteria
Item 1122(d)(3)(i)(A-B) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports: (A) Are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) Provide information calculated in accordance with the terms specified in the transaction agreements.
Item 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosure and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.

 

Page | 2

 

 

BELLOAK ADVISORS (LOGO)

 

Appendix B – The Platform

 

BellOak, LLC was named as the Senior Trust Advisor, Trust Advisor and Operating Advisor for all portfolios listed below. However, there was only activity requiring BellOak, LLC to perform the role of Senior Trust Advisor, Trust Advisor, and Operating Advisor for the portfolios designated with a “X” throughout the period in scope listed below. 

 

Portfolio Name: Service Agreement Date Period in Scope: Senior Trust Advisor, Trust Advisor, and Operating Advisor activity required as of and for the year ended December 31, 2025
245 Park Avenue Trust 2017-245P 5/30/2017 1/1/2025 to 12/31/2025  
AREIT 2024 C9 (CLO)

5/1/2024

 

1/1/2025 to 12/31/2025

 

 
ARZ 2024 BILT 5/1/2024 1/1/2025 to 12/31/2025  
BANK5 2024-5YR10 10/1/2024 1/1/2025 to 12/31/2025  
BANK5 2025-5YR14 4/1/2025 4/1/2025 to 12/31/2025  
BANK5 2025-5YR16 8/1/2025 8/1/2025 to 12/31/2025  
BBCMS 2023 C21 10/1/2023 1/1/2025 to 12/31/2025  
BBCMS 2024 5C27 7/1/2024 1/1/2025 to 12/31/2025  
BBCMS 2024 C30 11/1/2024 1/1/2025 to 12/31/2025  
BBCMS 2024-C24 2/2/2024 1/1/2025 to 12/31/2025  
BBCMS 2025-5C33 3/1/2025 3/1/2025 to 12/31/2025  
BBCMS 2025-5C38 11/1/2025 11/1/2025 to 12/31/2025  
BBCMS 2025-C35 7/1/2025 7/1/2025 to 12/31/2025  
BMARK 2023 V2 5/1/2023 1/1/2025 to 12/31/2025  
BMARK 2024 V5 1/1/2024 1/1/2025 to 12/31/2025  
BMO 2023-5C2 11/1/2023 1/1/2025 to 12/31/2025  
BMO 2024 5C5 8/1/2024 1/1/2025 to 12/31/2025  
BMO 2024-5C7 10/1/2024 1/1/2025 to 12/31/2025  
BMO 2024-C8 3/1/2024 1/1/2025 to 12/31/2025  
BMO 2025-5C11 6/1/2025 6/1/2025 to 12/31/2025  
BMO 2025-5C13 12/1/2025 12/1/2025 to 12/31/2025  
BMO 2025-5C9 3/1/2025 3/1/2025 to 12/31/2025  
BPR 2024 PRK 11/15/2024 1/1/2025 to 12/31/2025  
BRCK 2025-830B 12/11/2025 12/11/2025 to 12/31/2025  
BX 2025-OMG 10/15/2025 10/15/2025 to 12/31/2025  

 

Page | 3

 

 

BELLOAK ADVISORS (LOGO)

 

Portfolio Name: Service Agreement Date Period in Scope: Senior Trust Advisor, Trust Advisor, and Operating Advisor activity required as of and for the year ended December 31, 2025
BX 2025-VLT7 7/15/2025 7/15/2025 to 12/31/2025  
CALI 2024 SUN 7/9/2024 1/1/2025 to 12/31/2025  
CGCMT 2014-GC23 8/1/2014 1/1/2025 to 12/31/2025  
CGCMT 2016 C3 11/1/2016 1/1/2025 to 12/31/2025  
CGCMT 2017-B1 8/1/2017 1/1/2025 to 12/31/2025  
CRSO 2023 - BRND 7/1/2023 1/1/2025 to 12/31/2025  
DBUBS 2011-LC3 8/1/2011 1/1/2025 to 12/31/2025 X
DK 2025-LXP 8/27/2025 8/27/2025 to 12/31/2025  
DTP 2023 STE2 12/28/2023 1/1/2025 to 12/31/2025  
ELCML 2024 GTWY 8/29/2024 1/1/2025 to 12/31/2025  
GSMS 2013-GC10 2/1/2013 1/1/2025 to 12/31/2025  
GSMS 2013-GC13 5/1/2013 1/1/2025 to 12/31/2025  
GSMS 2014-GC20 4/1/2014 1/1/2025 to 12/31/2025 X
GSMS 2015-GC30 5/1/2015 1/1/2025 to 12/31/2025  
JPMCC 2012-CIBX 6/1/2012 1/1/2025 to 12/31/2025 X
JPMCC 2024 IGLG 11/15/2024 1/1/2025 to 12/31/2025  
JPMCC 2024 OMNI 9/24/2024 1/1/2025 to 12/31/2025  
JW 24 MRCO 6/21/2024 1/1/2025 to 12/31/2025  
KSL 2025-MH 12/3/2025 12/3/2025 to 12/31/2025  
LOEWS 2024 MIA 9/10/2024 1/1/2025 to 12/31/2025  
MAC 2025-801B 9/30/2025 9/30/2025 to 12/31/2025  
MAD 2025-11MD 9/25/2025 9/25/2025 to 12/31/2025  
MCR 2024 TWA 6/20/2024 1/1/2025 to 12/31/2025  
MSBAM 2013-C12 10/1/2013 1/1/2025 to 12/31/2025  
MSBAM 2025-5C1 3/1/2025 3/1/2025 to 12/31/2025  
MSC 2011-C3 10/1/2011 7/31/2025 to 12/31/2025  
MSC 2017-H1 6/1/2017 1/1/2025 to 12/31/2025  
MSWF 2023-2 12/1/2023 1/1/2025 to 12/31/2025  
NYC 2025-1155 5/20/2025 5/20/2025 to 12/31/2025  

 

Page | 4

 

 

BELLOAK ADVISORS (LOGO)

 

Portfolio Name: Service Agreement Date Period in Scope: Senior Trust Advisor, Trust Advisor, and Operating Advisor activity required as of and for the year ended December 31, 2025
P11 2025-P11 7/31/2025 7/31/2025 to 12/31/2025  
PFP 2024-11 (CLO) 8/5/2024 1/1/2025 to 12/31/2025  
PGA 2024 RSR2 6/6/2024 1/1/2025 to 12/31/2025  
SCG 2025-DLFN 3/20/2025 3/20/2025 to 12/31/2025  
STDIO 2025-RLGH 8/27/2025 8/27/2025 to 12/31/2025  
SYCA 2025-WAG 11/12/2025 11/12/2025 to 12/31/2025  
TPG 2024 WLSC 11/15/2024 1/1/2025 to 12/31/2025  
UBS 2011-C1 12/1/2011 1/1/2025 to 12/31/2025  
VTR 2025-STEM 10/16/2025 10/16/2025 to 12/31/2025  
WFCM 2015 C27 3/1/2015 1/1/2025 to 12/31/2025 X
WFCM 2015 LC20 3/1/2015 1/1/2025 to 12/31/2025 X
WFCM 2015-C29 6/1/2015 1/1/2025 to 12/31/2025  
WFCM 2015-C31 11/1/2015 1/1/2025 to 12/31/2025  
WFCM 2015-NXS1 4/1/2015 1/1/2025 to 12/31/2025 X
WFCM 2015-SG1 8/1/2015 1/1/2025 to 12/31/2025 X
WFCM 2016-C37 12/1/2016 1/1/2025 to 12/31/2025  
WFCM 2016-LC24 9/1/2016 1/1/2025 to 12/31/2025  
WFCM 2016-NXS6 10/1/2016 1/1/2025 to 12/31/2025  
WFCM 2017-C41 11/1/2017 1/1/2025 to 12/31/2025  
WFCM 2017-RB1 3/1/2017 1/1/2025 to 12/31/2025  
WFCM 2024 GRP 10/30/2024 1/1/2025 to 12/31/2025  
WFCM 20241CHI 6/25/2024 1/1/2025 to 12/31/2025  
WFCM 2024-BPRC 7/15/2024 1/1/2025 to 12/31/2025  
WFCM 2025-5C3 1/1/2025 1/1/2025 to 12/31/2025  
WFCM 2025-5C7 12/1/2025 12/1/2025 to 12/31/2025  
WFCM 2025-B33RP 8/21/2025 8/21/2025 to 12/31/2025  
WFCM 2025-NYCH 6/24/2025 6/24/2025 to 12/31/2025  
WFCMT 2017-C39 8/1/2017 1/1/2025 to 12/31/2025  
WFRBS 2012-C9 10/12/2012 1/1/2025 to 12/31/2025  

 

Page | 5

 

 

BELLOAK ADVISORS (LOGO)

 

Portfolio Name: Service Agreement Date Period in Scope: Senior Trust Advisor, Trust Advisor, and Operating Advisor activity required as of and for the year ended December 31, 2025
WFRBS 2013-C13 5/1/2013 1/1/2025 to 12/31/2025 X
WFRBS 2013-C15 8/1/2013 1/1/2025 to 12/31/2025 X
WFRBS 2014-C191 3/1/2014 1/1/2025 to 4/30/2025 X
WFRBS 2014-C21 8/1/2014 1/1/2025 to 12/31/2025 X
WFRBS 2014-C23 9/1/2014 1/1/2025 to 12/31/2025 X
WFRBS 2014-C25 12/1/2014 1/1/2025 to 12/31/2025  
WFRBS 2014-LC14 2/1/2014 1/1/2025 to 12/31/2025 X

 

1 BellOak, LLC was discharged or resigned from Senior Trust Advisor, Trust Advisor, and Operating Advisor duties for this portfolio in the 2024 calendar year. As such, BellOak LLC’s only responsibility in the Reporting Period was to deliver the annual report related to the 2024 portfolio activity within 120 days of the prior calendar year (2024), in accordance with the applicable criteria and requirements set forth in the transaction agreements. BellOak, LLC did not serve as the Senior Trust Advisor, Trust Advisor, and Operating Advisor for this portfolio in any other capacity during the Reporting Period.

 

Page | 6