MANAGEMENT’S REPORT ON ASSESSMENT OF COMPLIANCE WITH
SEC REGULATION AB SERVICING CRITERIA
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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. |
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BellOak, LLC
February 20, 2026
Dennis Grzeskowiak, Principal of BellOak, LLC
Appendix A – Applicable Servicing Criteria
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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. |
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. 
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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 |
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AREIT 2024 C9 (CLO) |
5/1/2024 |
1/1/2025 to 12/31/2025 |
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ARZ 2024 BILT |
5/1/2024 |
1/1/2025 to 12/31/2025 |
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BANK5 2024-5YR10 |
10/1/2024 |
1/1/2025 to 12/31/2025 |
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BANK5 2025-5YR14 |
4/1/2025 |
4/1/2025 to 12/31/2025 |
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BANK5 2025-5YR16 |
8/1/2025 |
8/1/2025 to 12/31/2025 |
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BBCMS 2023 C21 |
10/1/2023 |
1/1/2025 to 12/31/2025 |
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BBCMS 2024 5C27 |
7/1/2024 |
1/1/2025 to 12/31/2025 |
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BBCMS 2024 C30 |
11/1/2024 |
1/1/2025 to 12/31/2025 |
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BBCMS 2024-C24 |
2/2/2024 |
1/1/2025 to 12/31/2025 |
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BBCMS 2025-5C33 |
3/1/2025 |
3/1/2025 to 12/31/2025 |
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BBCMS 2025-5C38 |
11/1/2025 |
11/1/2025 to 12/31/2025 |
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BBCMS 2025-C35 |
7/1/2025 |
7/1/2025 to 12/31/2025 |
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BMARK 2023 V2 |
5/1/2023 |
1/1/2025 to 12/31/2025 |
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BMARK 2024 V5 |
1/1/2024 |
1/1/2025 to 12/31/2025 |
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BMO 2023-5C2 |
11/1/2023 |
1/1/2025 to 12/31/2025 |
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BMO 2024 5C5 |
8/1/2024 |
1/1/2025 to 12/31/2025 |
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BMO 2024-5C7 |
10/1/2024 |
1/1/2025 to 12/31/2025 |
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BMO 2024-C8 |
3/1/2024 |
1/1/2025 to 12/31/2025 |
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BMO 2025-5C11 |
6/1/2025 |
6/1/2025 to 12/31/2025 |
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BMO 2025-5C13 |
12/1/2025 |
12/1/2025 to 12/31/2025 |
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BMO 2025-5C9 |
3/1/2025 |
3/1/2025 to 12/31/2025 |
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BPR 2024 PRK |
11/15/2024 |
1/1/2025 to 12/31/2025 |
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BRCK 2025-830B |
12/11/2025 |
12/11/2025 to 12/31/2025 |
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BX 2025-OMG |
10/15/2025 |
10/15/2025 to 12/31/2025 |
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