<?xml version="1.0" encoding="us-ascii"?>
<assetData xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://www.sec.gov/edgar/document/absee/cmbs/assetdata">
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>1</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>05-06-2025</originationDate>
    <originalLoanAmount>50000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0638</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0638</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>50000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>931 CARROLL STREET</propertyName>
      <propertyAddress>931 CARROLL STREET</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11225</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>214</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>214</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2024</yearBuiltNumber>
      <valuationSecuritizationAmount>163000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>08-25-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.743</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>04-01-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>10531380.00</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>1170846.26</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>9360533.74</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>9305309.74</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.26</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.25</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>50000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>248111.11</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0638</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.00023</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>248111.11</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>50000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>50000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>2</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>03-12-2025</originationDate>
    <originalLoanAmount>47575000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0711</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0711</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>281881.88</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>47575000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>01-05-2030</prepaymentLockOutEndDate>
    <property>
      <propertyName>TREASURE VALLEY MARKETPLACE</propertyName>
      <propertyAddress>16365 NORTH MARKETPLACE BOULEVARD</propertyAddress>
      <propertyCity>Nampa</propertyCity>
      <propertyState>ID</propertyState>
      <propertyZip>83687</propertyZip>
      <propertyCounty>Canyon</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>297306</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>297306</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2006</yearBuiltNumber>
      <valuationSecuritizationAmount>70000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-13-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.963</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.98</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Furniture Row  Inc. d.b.a. Denver Mattress</largestTenant>
      <squareFeetLargestTenantNumber>52203</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>07-31-2034</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Best Buy</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>30038</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>03-31-2028</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>Ashley Furniture</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>28000</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>08-31-2027</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>6651297.91</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>4997663.07</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1584637.97</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>972108.68</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>5066659.94</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>4025554.39</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>4733677.22</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>3775817.14</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>2565125.09</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.48</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.5693</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.38</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.4719</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>47575000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>263089.75</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0711</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>263089.75</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>47575000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>47575000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>3</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>04-21-2025</originationDate>
    <originalLoanAmount>40000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.07371</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.07371</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>40000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>06-06-2025</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>11-05-2029</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>11-05-2029</prepaymentPremiumsEndDate>
    <property>
      <propertyName>655 THIRD AVENUE</propertyName>
      <propertyAddress>655 THIRD AVENUE</propertyAddress>
      <propertyCity>New York</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>10017</propertyZip>
      <propertyCounty>New York</propertyCounty>
      <propertyTypeCode>OF</propertyTypeCode>
      <netRentableSquareFeetNumber>421851</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>421851</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1958</yearBuiltNumber>
      <yearLastRenovated>2025</yearLastRenovated>
      <valuationSecuritizationAmount>130000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>04-01-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.785</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.8</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <largestTenant>The New York State Urban Development</largestTenant>
      <squareFeetLargestTenantNumber>122577</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>10-31-2045</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Clune Construction Company  L.P.</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>23437</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>06-30-2035</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>Abacus Information Technology  LLC</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>20075</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>07-31-2027</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>22662938.43</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>16275485.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>13941648.60</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>10473694.55</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>8721289.82</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>5801790.45</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>8106358.12</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>5340591.67</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>3912772.50</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.67</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4827</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.55</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3649</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>10-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>40000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>229320.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.07371</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>229320.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>40000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>40000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>3A</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>04-21-2025</originationDate>
    <originalLoanAmount>5000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.07371</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.07371</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-06-2025</firstLoanPaymentDueDate>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <scheduledPrincipalBalanceSecuritizationAmount>5000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <property>
      <propertyName>NA</propertyName>
      <propertyState>NA</propertyState>
      <DefeasedStatusCode>X</DefeasedStatusCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>5000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>28665.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.07371</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>28665.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>5000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>5000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>4</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>02-28-2025</originationDate>
    <originalLoanAmount>39250000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-11-2030</maturityDate>
    <originalAmortizationTermNumber>360</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06902</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06902</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>0</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>2</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>258553.06</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>39191779.43</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>false</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-10-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>MARRIOTT CINCINNATI AIRPORT</propertyName>
      <propertyAddress>2395 PROGRESS DRIVE</propertyAddress>
      <propertyCity>Hebron</propertyCity>
      <propertyState>KY</propertyState>
      <propertyZip>41048</propertyZip>
      <propertyCounty>Boone</propertyCounty>
      <propertyTypeCode>LO</propertyTypeCode>
      <unitsBedsRoomsNumber>302</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>302</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1999</yearBuiltNumber>
      <yearLastRenovated>2021</yearLastRenovated>
      <valuationSecuritizationAmount>64900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-26-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.731</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.66</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>12-31-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>12-31-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>15895361.07</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>14386602.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>9996419.31</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>9019782.75</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>5898941.76</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>5366819.25</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>5104173.71</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>4647489.15</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>2891704.00</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.90</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.8559</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.65</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.6071</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>38932561.41</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>258553.06</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06902</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>208998.64</scheduledInterestAmount>
    <scheduledPrincipalAmount>49554.42</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>38883006.99</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>38883006.99</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>5</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>05-02-2025</originationDate>
    <originalLoanAmount>36000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0675</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0675</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>36000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>11-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>240 WEST 73RD STREET</propertyName>
      <propertyAddress>240 WEST 73RD STREET</propertyAddress>
      <propertyCity>New York</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>10023</propertyZip>
      <propertyCounty>New York</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>195</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>195</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1928</yearBuiltNumber>
      <yearLastRenovated>2023</yearLastRenovated>
      <valuationSecuritizationAmount>56000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-11-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.959</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>6320127.50</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>2760839.53</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>3559287.98</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>3500492.20</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.44</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.42</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>36000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>189000.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0675</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>189000.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>36000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>36000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>6</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>05-01-2025</originationDate>
    <originalLoanAmount>33000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06681</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06681</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>33000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>11-10-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>CELEBRATION TOWN CENTER</propertyName>
      <propertyAddress>610 SYCAMORE STREET</propertyAddress>
      <propertyCity>Kissimmee</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>34747</propertyZip>
      <propertyCounty>Osceola</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>161945</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>161945</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1996</yearBuiltNumber>
      <valuationSecuritizationAmount>55600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>03-26-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.882</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>COLUMBIA RESTAURANT</largestTenant>
      <squareFeetLargestTenantNumber>7500</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>10-31-2032</leaseExpirationLargestTenantDate>
      <secondLargestTenant>THAI THANI</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>5575</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>11-30-2028</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>IPSWICH, INC</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>5503</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>01-31-2026</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>7373737.02</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>3471599.12</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>3902137.90</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>3638167.55</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.75</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.63</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>33000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>171479.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06681</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>171479.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>33000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>33000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>12-30-2024</originationDate>
    <originalLoanAmount>25000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-11-2030</maturityDate>
    <originalAmortizationTermNumber>360</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06126</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06126</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>0</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>2</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>151918.80</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>24902076.09</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>10</NumberPropertiesSecuritization>
    <NumberProperties>10</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>false</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-10-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>Radius at Harbor Bay</propertyName>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetSecuritizationNumber>643220</netRentableSquareFeetSecuritizationNumber>
      <valuationSecuritizationAmount>316270000.00</valuationSecuritizationAmount>
      <physicalOccupancySecuritizationPercentage>0.939</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.9</mostRecentPhysicalOccupancyPercentage>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>31472463.47</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>22908463.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>8711242.32</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>6805589.04</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>22761221.15</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>16102873.96</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>22439357.15</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>15861472.96</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <mostRecentDebtServiceAmount>11594442.99</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.47</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3888</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.45</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.368</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>24700153.44</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>151918.80</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06126</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>117688.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>34230.80</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>24665922.63</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>24665922.64</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1420 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1420 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>OF</propertyTypeCode>
      <netRentableSquareFeetNumber>121216</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>121216</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1986</yearBuiltNumber>
      <valuationSecuritizationAmount>46420000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Abbott Diabetes Care  Inc</largestTenant>
      <squareFeetLargestTenantNumber>121216</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>12-31-2029</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>5665043.53</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>4106496.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1439747.19</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>1216453.38</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>4225296.35</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>2890042.62</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>4164640.48</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>2844550.62</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1638548.58</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.7637</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.736</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1351 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1351 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>97980</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>97980</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1984</yearBuiltNumber>
      <valuationSecuritizationAmount>44770000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Penumbra  Inc</largestTenant>
      <squareFeetLargestTenantNumber>97980</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>12-31-2036</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>3644556.06</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2808543.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>818029.74</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>633988.79</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2826526.32</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>2174554.21</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2777497.63</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>2137782.46</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1580306.30</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.376</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3527</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-003</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1451 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1451 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>IN</propertyTypeCode>
      <netRentableSquareFeetNumber>86055</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>86055</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1984</yearBuiltNumber>
      <valuationSecuritizationAmount>39320000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Penumbra  Inc.</largestTenant>
      <squareFeetLargestTenantNumber>86055</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>12-31-2036</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>3166366.72</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2453567.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>683852.45</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>551436.01</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2482514.27</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1902130.99</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2439452.79</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1869834.49</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1387930.43</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3704</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3472</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-004</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1640 SOUTH LOOP ROAD</propertyName>
      <propertyAddress>1640 SOUTH LOOP ROAD</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>51780</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>51780</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1996</yearBuiltNumber>
      <yearLastRenovated>2021</yearLastRenovated>
      <valuationSecuritizationAmount>36500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-21-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>All Cell</largestTenant>
      <squareFeetLargestTenantNumber>25865</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>11-30-2033</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Apertor Pharmaceuticals  Inc.</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>13590</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>05-31-2031</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>IQ Biosciences</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>12325</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>10-31-2031</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>4366904.08</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>3212624.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1121877.70</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>914773.47</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>3245026.38</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>2297850.53</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>3219115.93</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>2278418.03</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1288389.11</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.7835</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.7684</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-005</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1650 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1650 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>67537</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>67537</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2001</yearBuiltNumber>
      <yearLastRenovated>2019</yearLastRenovated>
      <valuationSecuritizationAmount>29600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-21-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.671</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.67</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Bay Area Disruptor</largestTenant>
      <squareFeetLargestTenantNumber>28488</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2037</leaseExpirationLargestTenantDate>
      <secondLargestTenant>SEIU</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>16829</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>05-31-2028</leaseExpirationSecondLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>2761833.90</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2170355.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1361771.70</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>993529.15</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>1400062.20</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1176825.85</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1366267.03</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1151478.85</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1284859.27</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.9159</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>0.8961</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-006</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1600 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1600 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>62696</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>62696</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2001</yearBuiltNumber>
      <yearLastRenovated>2019</yearLastRenovated>
      <valuationSecuritizationAmount>35700000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-21-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.85</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Infinimmune  Inc</largestTenant>
      <squareFeetLargestTenantNumber>9828</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>07-31-2029</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Ensigna Biosystems  Inc.</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>9466</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>02-29-2032</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>La Clinica de La Raza  Inc.</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>8571</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>11-30-2028</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>4056860.51</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2427821.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1364159.45</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>969002.03</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2692701.06</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1458818.97</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2661328.30</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1435289.22</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1260150.38</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.1576</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.1389</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-007</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1350 SOUTH LOOP ROAD</propertyName>
      <propertyAddress>1350 SOUTH LOOP ROAD</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>43645</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>43645</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1987</yearBuiltNumber>
      <yearLastRenovated>2022</yearLastRenovated>
      <valuationSecuritizationAmount>31490000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Vivani Medical  Inc.</largestTenant>
      <squareFeetLargestTenantNumber>43645</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2033</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>3424307.58</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2352775.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>596664.26</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>478220.50</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2827643.32</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1874554.50</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2805803.59</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1858173.75</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1111544.49</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.6864</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.6717</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-008</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1321 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1321 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>50177</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>50177</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1984</yearBuiltNumber>
      <valuationSecuritizationAmount>22930000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Penumbra  Inc</largestTenant>
      <squareFeetLargestTenantNumber>50177</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>12-31-2036</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1889349.86</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1493564.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>441844.10</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>354863.17</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>1447505.76</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1138700.83</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1422397.45</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1119869.08</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>809390.73</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4068</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3835</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-009</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1501 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1501 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>33817</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>33817</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1985</yearBuiltNumber>
      <yearLastRenovated>2021</yearLastRenovated>
      <valuationSecuritizationAmount>16600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-21-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.498</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.5</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Rubi Laboratories  Inc.</largestTenant>
      <squareFeetLargestTenantNumber>16844</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>01-14-2032</leaseExpirationLargestTenantDate>
      <secondLargestTenant>J Peach  LLC DBA Caf&#xE9; Jolie</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>0</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>07-31-2028</leaseExpirationSecondLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1405047.14</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1042952.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>607990.25</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>469638.81</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>797056.89</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>573313.19</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>780135.03</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>560621.69</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>776563.31</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.7382</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>0.7219</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>7-010</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1411 HARBOR BAY PARKWAY</propertyName>
      <propertyAddress>1411 HARBOR BAY PARKWAY</propertyAddress>
      <propertyCity>Alameda</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94502</propertyZip>
      <propertyCounty>Alameda</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>28317</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>28317</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1984</yearBuiltNumber>
      <valuationSecuritizationAmount>12940000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-23-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Penumbra  Inc</largestTenant>
      <squareFeetLargestTenantNumber>28317</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>12-31-2036</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1092194.08</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>839766.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>275305.48</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>223683.73</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>816888.60</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>616082.27</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>802718.92</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>605454.77</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>456760.41</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3488</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3255</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-07-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>8</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>01-22-2025</originationDate>
    <originalLoanAmount>23700000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>02-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06598</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06598</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>03-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>130310.50</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>23700000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>08-10-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>THE PLAZA AT WALNUT CREEK</propertyName>
      <propertyAddress>1331-1333 NORTH CALIFORNIA BOULEVARD</propertyAddress>
      <propertyCity>Walnut Creek</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94596</propertyZip>
      <propertyCounty>Contra Costa</propertyCounty>
      <propertyTypeCode>OF</propertyTypeCode>
      <netRentableSquareFeetNumber>352870</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>352870</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1985</yearBuiltNumber>
      <valuationSecuritizationAmount>162500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>12-04-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.927</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.94</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Merrill Lynch</largestTenant>
      <squareFeetLargestTenantNumber>51789</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>05-31-2029</leaseExpirationLargestTenantDate>
      <secondLargestTenant>FACTORY MUTUAL INSURANCE</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>37652</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>03-31-2026</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>Morgan Stanley Smith Barney Financing LLC</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>32933</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>01-31-2028</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>09-19-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>24869718.58</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>18636858.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>7150305.79</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>5991844.25</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>17719412.79</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>12645013.75</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>17275455.29</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>12312045.63</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>4723833.00</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>2.73</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>2.6768</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>2.66</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>2.6063</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>23700000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>121623.13</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06598</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>121623.13</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>23700000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>23700000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>9</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>AREF2</originatorName>
    <originationDate>02-21-2025</originationDate>
    <originalLoanAmount>22000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0703</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0703</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>128883.33</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>22000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>3</NumberPropertiesSecuritization>
    <NumberProperties>3</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>Latsko Portfolio</propertyName>
      <propertyCity>Chicago</propertyCity>
      <propertyState>IL</propertyState>
      <propertyCounty>Cook</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetSecuritizationNumber>27804</netRentableSquareFeetSecuritizationNumber>
      <valuationSecuritizationAmount>35250000.00</valuationSecuritizationAmount>
      <valuationSecuritizationDate>11-22-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>2460013.44</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1930962.34</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>440284.80</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>326974.93</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2019728.63</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1603987.41</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1999692.97</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1588960.68</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <mostRecentDebtServiceAmount>1172837.00</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.29</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3676</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.28</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3548</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>22000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>120291.11</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0703</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0006175</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>120291.11</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>22000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>22000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>9-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>GUINNESS OPEN GATE BREWERY</propertyName>
      <propertyAddress>901 WEST KINZIE STREET</propertyAddress>
      <propertyCity>Chicago</propertyCity>
      <propertyState>IL</propertyState>
      <propertyZip>60642</propertyZip>
      <propertyCounty>Cook</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>15153</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>15153</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1908</yearBuiltNumber>
      <yearLastRenovated>2023</yearLastRenovated>
      <valuationSecuritizationAmount>20050000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-22-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Diageo Americas Supply  Inc. (a)</largestTenant>
      <squareFeetLargestTenantNumber>15153</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2033</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1399359.58</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1090116.93</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>260580.03</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>207628.93</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>1138779.55</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>882488.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1128930.10</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>875100.92</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>661640.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3337</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3226</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>9-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>66 EAST WALTON STREET</propertyName>
      <propertyAddress>66 EAST WALTON STREET</propertyAddress>
      <propertyCity>Chicago</propertyCity>
      <propertyState>IL</propertyState>
      <propertyZip>60611</propertyZip>
      <propertyCounty>Cook</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>6541</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>6541</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1930</yearBuiltNumber>
      <yearLastRenovated>2017</yearLastRenovated>
      <valuationSecuritizationAmount>9200000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-22-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>The Realreal  Inc</largestTenant>
      <squareFeetLargestTenantNumber>3785</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>04-30-2029</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Rasheed A. Alagbada</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>2756</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>03-31-2026</leaseExpirationSecondLargestTenantDate>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>602748.41</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>474330.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>83949.04</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>36123.59</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>518799.37</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>438206.41</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>513501.16</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>434232.76</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>309409.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4162</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.4034</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>9-003</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>FOXTROT</propertyName>
      <propertyAddress>23 WEST MAPLE STREET</propertyAddress>
      <propertyCity>Chicago</propertyCity>
      <propertyState>IL</propertyState>
      <propertyZip>60611</propertyZip>
      <propertyCounty>Cook</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>6110</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>6110</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2018</yearBuiltNumber>
      <valuationSecuritizationAmount>6000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-22-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>Further Point Acquisitions LLC</largestTenant>
      <squareFeetLargestTenantNumber>6110</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>05-31-2029</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>457905.44</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>366515.41</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>95755.73</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>83222.41</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>362149.71</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>283293.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>357261.71</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>279627.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>201788.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4039</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3857</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>10</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>AREF2</originatorName>
    <originationDate>01-24-2025</originationDate>
    <originalLoanAmount>21750000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>02-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0654</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0654</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>03-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>118537.50</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>21750000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>11-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>SHENANDOAH WOODS</propertyName>
      <propertyAddress>4250 WEST 34TH STREET</propertyAddress>
      <propertyCity>Houston</propertyCity>
      <propertyState>TX</propertyState>
      <propertyZip>77092</propertyZip>
      <propertyCounty>Harris</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>232</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>232</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1977</yearBuiltNumber>
      <yearLastRenovated>2021</yearLastRenovated>
      <valuationSecuritizationAmount>38100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-07-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.931</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.94</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>10-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>3443451.52</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2598522.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>1050814.27</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>849863.44</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2392637.25</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1748658.56</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2334637.25</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1705158.56</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1078691.25</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.66</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.621</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.62</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.5807</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>21750000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>110635.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0654</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>110635.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>21750000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>21750000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>11</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>03-06-2025</originationDate>
    <originalLoanAmount>20500000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0625</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0625</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>106770.83</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>20500000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>09-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>CANTON CLUB EAST APARTMENTS</propertyName>
      <propertyAddress>41265 CROSSBOW CIRCLE</propertyAddress>
      <propertyCity>Canton</propertyCity>
      <propertyState>MI</propertyState>
      <propertyZip>48188</propertyZip>
      <propertyCounty>Wayne</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>148</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>148</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1999</yearBuiltNumber>
      <valuationSecuritizationAmount>30900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-18-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.953</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.97</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>2735233.90</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2091613.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>911349.26</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>705107.14</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>1823884.64</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1386505.86</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1779484.64</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1353205.86</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>984960.92</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.40</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4076</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.37</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3738</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>20500000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>99652.78</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0625</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>99652.78</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>20500000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>20500000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>12</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>JPMCB</originatorName>
    <originationDate>02-13-2025</originationDate>
    <originalLoanAmount>20000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06658</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06658</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>110966.67</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>20000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>03-05-2026</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>09-05-2029</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>09-05-2029</prepaymentPremiumsEndDate>
    <property>
      <propertyName>LAS OLAS CITY CENTRE</propertyName>
      <propertyAddress>401 EAST LAS OLAS BOULEVARD</propertyAddress>
      <propertyCity>Fort Lauderdale</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33301</propertyZip>
      <propertyCounty>Broward</propertyCounty>
      <propertyTypeCode>OF</propertyTypeCode>
      <netRentableSquareFeetNumber>410561</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>410561</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2003</yearBuiltNumber>
      <yearLastRenovated>2023</yearLastRenovated>
      <valuationSecuritizationAmount>222700000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>01-15-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.946</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>BANK OF AMERICA</largestTenant>
      <squareFeetLargestTenantNumber>68368</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>05-31-2033</leaseExpirationLargestTenantDate>
      <secondLargestTenant>GREENBERG TRAURIG</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>48790</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>01-31-2041</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>BOIES, SCHILLER &amp; FLEXNER</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>25848</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>06-30-2032</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>10-31-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>26843828.12</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>8296498.86</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>18547329.26</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>17438814.56</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.89</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.78</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>20000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>103568.89</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06658</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.00023</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>103568.89</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>20000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>20000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Midland Loan Services</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>13</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>03-13-2025</originationDate>
    <originalLoanAmount>17500000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0615</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0615</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>89687.50</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>17500000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>01-05-2030</prepaymentLockOutEndDate>
    <property>
      <propertyName>2311 WHITE PLAINS ROAD</propertyName>
      <propertyAddress>2311 WHITE PLAINS ROAD</propertyAddress>
      <propertyCity>Bronx</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>10467</propertyZip>
      <propertyCounty>Bronx</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>50</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>50</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2024</yearBuiltNumber>
      <valuationSecuritizationAmount>26100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>09-10-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>GRAND STREET SETTLEMENT, INC.</largestTenant>
      <squareFeetLargestTenantNumber>5968</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2029</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>2060801.69</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>287115.44</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>1773686.25</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>1756524.65</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.63</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.61</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>17500000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>83708.33</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0615</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>83708.33</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>17500000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>17500000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>14</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>04-01-2025</originationDate>
    <originalLoanAmount>17350000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-06-2030</maturityDate>
    <originalAmortizationTermNumber>360</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.073</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.073</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>24</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>5</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>105545.83</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>17350000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>10-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>DOUBLETREE HILTON HOTEL BINGHAMTON</propertyName>
      <propertyAddress>225 WATER STREET</propertyAddress>
      <propertyCity>Binghamton</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>13901</propertyZip>
      <propertyCounty>Broome</propertyCounty>
      <propertyTypeCode>LO</propertyTypeCode>
      <unitsBedsRoomsNumber>207</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>207</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1987</yearBuiltNumber>
      <yearLastRenovated>2013</yearLastRenovated>
      <valuationSecuritizationAmount>28000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-10-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.82</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.82</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>10-01-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>13130338.66</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>13426208.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>10385533.28</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>10905369.02</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2744805.38</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>2520838.98</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2219591.84</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1983790.66</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>1284140.93</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.92</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.963</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.56</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.5448</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>17350000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>98509.44</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.073</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>98509.44</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>17350000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>17350000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>03-18-2025</originationDate>
    <originalLoanAmount>17000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.05658</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.05658</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>PP</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>80155.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>17000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>35</NumberPropertiesSecuritization>
    <NumberProperties>35</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>08-10-2025</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>10-10-2029</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>10-10-2029</prepaymentPremiumsEndDate>
    <property>
      <propertyName>Southeast Workforce MHC Portfolio</propertyName>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>1919</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>1919</unitsBedsRoomsSecuritizationNumber>
      <valuationSecuritizationAmount>157900000.00</valuationSecuritizationAmount>
      <valuationSecuritizationDate>02-01-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.859</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.91</mostRecentPhysicalOccupancyPercentage>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>14352073.51</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>11257709.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>5015835.56</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>4059405.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>9336237.95</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>7198304.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>9240287.95</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>7126341.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <mostRecentDebtServiceAmount>4505182.50</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.55</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.5977</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.53</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.5818</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>17000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>74811.33</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.05658</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>74811.33</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>17000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>17000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>FLORIDA SUN ESTATES</propertyName>
      <propertyAddress>3535 ROBERTS AVE</propertyAddress>
      <propertyCity>Tallahassee</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32310</propertyZip>
      <propertyCounty>Leon</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>307</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>307</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1971</yearBuiltNumber>
      <valuationSecuritizationAmount>22500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.564</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.61</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1483601.22</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>11257709.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>422658.52</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>4059405.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>1060942.70</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>7198304.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>1045592.70</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>7126341.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>4505182.50</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.5977</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.5818</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>TAMPA SUN ESTATES 3 &amp; 4</propertyName>
      <propertyAddress>10603 N NEBRASKA AVENUE AND 14011 N NEBRASKA AVENUE</propertyAddress>
      <propertyCity>Tampa</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33612</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>112</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>112</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1944</yearBuiltNumber>
      <valuationSecuritizationAmount>8400000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.75</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.75</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>909353.04</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>336904.48</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>572448.56</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>566848.56</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-003</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>LAKE MARY MHP</propertyName>
      <propertyAddress>1651 SPRING HAMMOCK WAY</propertyAddress>
      <propertyCity>Longwood</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32750</propertyZip>
      <propertyCounty>Seminole</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>70</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>70</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1969</yearBuiltNumber>
      <valuationSecuritizationAmount>7600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.986</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.97</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>759643.32</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>226726.77</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>532916.55</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>529416.55</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-004</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>TAMPA SUN ESTATES</propertyName>
      <propertyAddress>10101 NORTH FLORIDA AVE</propertyAddress>
      <propertyCity>Tampa</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33612</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>70</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>70</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1952</yearBuiltNumber>
      <valuationSecuritizationAmount>7000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.886</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.9</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>739494.33</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>258359.48</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>481134.85</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>477634.85</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-005</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>PELICAN SUN ESTATES 1 &amp; 2</propertyName>
      <propertyAddress>10921 AND 11123 NORTH NEBRASKA AVE</propertyAddress>
      <propertyCity>Tampa</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33612</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>64</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>64</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1946</yearBuiltNumber>
      <valuationSecuritizationAmount>6200000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.797</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.8</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>571800.39</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>221096.88</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>350703.51</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>347503.51</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-006</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>CIRCLE DRIVE MOBILE HOME PARK</propertyName>
      <propertyAddress>4060 SOUTH MAIN STREET</propertyAddress>
      <propertyCity>Salisbury</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28147</propertyZip>
      <propertyCounty>Rowan</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>63</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>63</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>5300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>432757.78</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>88031.07</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>344726.71</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>341576.71</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-007</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>UNIVERSITY SUN ESTATES 2 &amp; 3</propertyName>
      <propertyAddress>514 &amp; 604 GLENN ROAD AND 333 HOLIDAY ACRES DRIVE</propertyAddress>
      <propertyCity>Orlando</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32833</propertyZip>
      <propertyCounty>Orange</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>52</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>52</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1974</yearBuiltNumber>
      <valuationSecuritizationAmount>5300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.981</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.94</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>578600.48</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>206917.19</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>371683.29</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>369083.29</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-008</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>MAITLAND SUN ESTATES</propertyName>
      <propertyAddress>9165 SOUTH US HIGHWAY 17-92</propertyAddress>
      <propertyCity>Maitland</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32751</propertyZip>
      <propertyCounty>Seminole</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>39</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>39</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1930</yearBuiltNumber>
      <valuationSecuritizationAmount>5100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.974</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.95</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>472660.84</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>167033.88</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>305626.96</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>303676.96</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-009</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>ST PETE SUN ESTATES</propertyName>
      <propertyAddress>5000 28TH STREET NORTH</propertyAddress>
      <propertyCity>St. Petersburg</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33714</propertyZip>
      <propertyCounty>Pinellas</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>44</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>44</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1950</yearBuiltNumber>
      <valuationSecuritizationAmount>4600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.886</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.89</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>473937.93</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>166982.45</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>306955.48</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>304755.48</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-010</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>ASHEVILLE SV 1 &amp; 2</propertyName>
      <propertyAddress>36 MULBERRY STREET AND 55 MONNIE JONES ROAD</propertyAddress>
      <propertyCity>Asheville, Weaverville</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28804</propertyZip>
      <propertyCounty>Buncombe</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>48</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>48</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1985</yearBuiltNumber>
      <yearLastRenovated>2023</yearLastRenovated>
      <valuationSecuritizationAmount>4500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-04-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.958</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.98</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>404442.54</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>126684.25</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>277758.29</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>275358.29</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-011</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>ST PETE SUN ESTATES 2</propertyName>
      <propertyAddress>2600 58TH AVENUE NORTH</propertyAddress>
      <propertyCity>St. Petersburg</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33714</propertyZip>
      <propertyCounty>Pinellas</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>41</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>41</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1950</yearBuiltNumber>
      <valuationSecuritizationAmount>4300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.902</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.93</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>448292.92</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>165934.25</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>282358.67</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>280308.67</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-012</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>HICKORY CORNER MOBILE HOME PARK</propertyName>
      <propertyAddress>105 HICKORY CORNER CIRCLE</propertyAddress>
      <propertyCity>Maryville</propertyCity>
      <propertyState>TN</propertyState>
      <propertyZip>37804</propertyZip>
      <propertyCounty>Blount</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>54</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>54</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1950</yearBuiltNumber>
      <yearLastRenovated>2020</yearLastRenovated>
      <valuationSecuritizationAmount>4225000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>380815.51</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>126470.17</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>254345.34</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>251645.34</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-013</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>CREEKSIDE MOBILE HOME PARK</propertyName>
      <propertyAddress>523 LOW GROUND ROAD</propertyAddress>
      <propertyCity>Enfield</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>27823</propertyZip>
      <propertyCounty>Halifax</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>105</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>105</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1980</yearBuiltNumber>
      <valuationSecuritizationAmount>4100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>01-29-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.962</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.67</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>365152.64</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>139756.21</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>225396.43</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>220146.43</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-014</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>COMMERCE PARK SUN ESTATES 1 &amp; 2</propertyName>
      <propertyAddress>6800 NORTHWEST GAINESVILLE ROAD &amp; 4023 NORTHWEST GAINESVILLE ROAD</propertyAddress>
      <propertyCity>Ocala</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>34475</propertyZip>
      <propertyCounty>Marion</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>79</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>79</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1948</yearBuiltNumber>
      <valuationSecuritizationAmount>4100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.734</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.73</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>462358.16</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>228113.77</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>234244.39</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>230294.39</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-015</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>TAMPA SUN ESTATES 5</propertyName>
      <propertyAddress>221 21ST STREET SOUTHEAST</propertyAddress>
      <propertyCity>Ruskin</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33570</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>38</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>38</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1958</yearBuiltNumber>
      <valuationSecuritizationAmount>4000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.921</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.95</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>413254.65</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>162830.36</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>250424.29</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>248524.29</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-016</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>TAMPA SUN ESTATES 6</propertyName>
      <propertyAddress>17123 RICH JO CIRCLE</propertyAddress>
      <propertyCity>Lutz</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33548</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>33</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>33</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1968</yearBuiltNumber>
      <valuationSecuritizationAmount>3900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.97</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>394499.85</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>132120.84</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>262379.01</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>260729.01</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-017</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>HILLSIDE VILLAGE MOBILE HOME PARK</propertyName>
      <propertyAddress>931 MOBILE LANE</propertyAddress>
      <propertyCity>Gastonia</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28054</propertyZip>
      <propertyCounty>Gaston</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>39</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>39</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1960</yearBuiltNumber>
      <valuationSecuritizationAmount>3900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.95</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>310913.41</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>71556.36</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>239357.05</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>237407.05</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-018</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>MEADOWVIEW MOBILE HOME PARK</propertyName>
      <propertyAddress>4427 MORGANTON ROAD</propertyAddress>
      <propertyCity>Maryville</propertyCity>
      <propertyState>TN</propertyState>
      <propertyZip>37801</propertyZip>
      <propertyCounty>Blount</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>43</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>43</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1992</yearBuiltNumber>
      <yearLastRenovated>2021</yearLastRenovated>
      <valuationSecuritizationAmount>3900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>342222.27</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>107272.42</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>234949.85</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>232799.85</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-019</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>COUNTRYSIDE MOBILE HOME PARK</propertyName>
      <propertyAddress>200 COUNTRYSIDE CIRCLE</propertyAddress>
      <propertyCity>Moore</propertyCity>
      <propertyState>SC</propertyState>
      <propertyZip>29369</propertyZip>
      <propertyCounty>Spartanburg</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>65</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>65</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1984</yearBuiltNumber>
      <valuationSecuritizationAmount>3825000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-04-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>436129.62</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>158793.77</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>277335.85</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>274085.85</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-020</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>CHARLOTTE SOUTHERN VILLAGES 2</propertyName>
      <propertyAddress>3500 GREEN HAVEN COURT</propertyAddress>
      <propertyCity>Concord</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28025</propertyZip>
      <propertyCounty>Cabarrus</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>42</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>42</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>3750000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.976</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>326031.18</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>95103.60</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>230927.58</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>228827.58</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-021</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>UNIVERSITY SUN ESTATES</propertyName>
      <propertyAddress>16268 EAST COLONIAL DRIVE</propertyAddress>
      <propertyCity>Orlando</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32820</propertyZip>
      <propertyCounty>Orange</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>37</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>37</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1958</yearBuiltNumber>
      <valuationSecuritizationAmount>3400000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.865</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.86</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>354398.76</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>149555.69</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>204843.07</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>202993.07</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-022</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>KNOXVILLE SV 1 &amp; 2</propertyName>
      <propertyAddress>260 SAGEBRUSH WAY; 209 ALLENDALE DRIVE</propertyAddress>
      <propertyCity>Maryville, Friendsville</propertyCity>
      <propertyState>TN</propertyState>
      <propertyZip>37801</propertyZip>
      <propertyCounty>Blount</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>53</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>53</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1986</yearBuiltNumber>
      <valuationSecuritizationAmount>3425000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.792</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.81</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>285191.05</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>110025.22</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>175165.83</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>172515.83</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-023</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>DOGWOOD MOBILE HOME PARK</propertyName>
      <propertyAddress>1220 BRANCH STREET</propertyAddress>
      <propertyCity>Gastonia</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28054</propertyZip>
      <propertyCounty>Gaston</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>33</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>33</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1960</yearBuiltNumber>
      <valuationSecuritizationAmount>3100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>291451.64</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>86270.60</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>205181.04</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>203531.04</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-024</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>CHERRY VALLEY MOBILE HOME PARK</propertyName>
      <propertyAddress>77 J R LANE</propertyAddress>
      <propertyCity>Candler</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28715</propertyZip>
      <propertyCounty>Buncombe</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>33</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>33</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1998</yearBuiltNumber>
      <valuationSecuritizationAmount>3075000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-04-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.97</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>279993.35</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>76815.03</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>203178.32</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>201528.32</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-025</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>EASTGATE MOBILE HOME PARK</propertyName>
      <propertyAddress>100 RICHEY DRIVE</propertyAddress>
      <propertyCity>Greer</propertyCity>
      <propertyState>SC</propertyState>
      <propertyZip>29651</propertyZip>
      <propertyCounty>Spartanburg</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>42</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>42</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1980</yearBuiltNumber>
      <valuationSecuritizationAmount>2725000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-04-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.976</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>257860.18</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>68310.89</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>189549.29</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>187449.29</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-026</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>NORTH ORLANDO SUN ESTATES 2</propertyName>
      <propertyAddress>481 SUNSHINE COURT</propertyAddress>
      <propertyCity>Deland</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32724</propertyZip>
      <propertyCounty>Volusia</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>31</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>31</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>2700000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.968</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>315159.62</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>125530.42</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>189629.20</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>188079.20</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-027</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>GADDY MOBILE HOME PARK</propertyName>
      <propertyAddress>1055 GADDY MOBILE HOME DRIVE</propertyAddress>
      <propertyCity>Kannapolis</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28081</propertyZip>
      <propertyCounty>Rowan</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>29</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>29</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>2525000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>209400.78</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>53262.21</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>156138.57</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>154688.57</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-028</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>ARCHDALE MOBILE HOME PARK</propertyName>
      <propertyAddress>100 ARCHDALE DRIVE</propertyAddress>
      <propertyCity>Bessemer City</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28016</propertyZip>
      <propertyCounty>Gaston</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>29</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>29</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1960</yearBuiltNumber>
      <valuationSecuritizationAmount>2400000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>201257.38</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>68337.24</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>132920.14</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>131470.14</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-029</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>TAMPA SUN ESTATES 2</propertyName>
      <propertyAddress>10803 NORTH ANNETTE AVENUE</propertyAddress>
      <propertyCity>Tampa</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>33612</propertyZip>
      <propertyCounty>Hillsborough</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>23</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>23</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1948</yearBuiltNumber>
      <valuationSecuritizationAmount>2300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>270692.86</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>114085.00</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>156607.86</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>155457.86</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-030</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>WOODLAND MOBILE HOME PARK</propertyName>
      <propertyAddress>102 SELWYN CIRCLE</propertyAddress>
      <propertyCity>Gastonia</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28052</propertyZip>
      <propertyCounty>Gaston</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>25</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>25</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1960</yearBuiltNumber>
      <valuationSecuritizationAmount>2200000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>187287.24</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>69438.65</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>117848.59</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>116598.59</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-031</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>SALISBURY MOBILE HOME PARK</propertyName>
      <propertyAddress>1017 BRINGLE FERRY RD</propertyAddress>
      <propertyCity>Salisbury</propertyCity>
      <propertyState>NC</propertyState>
      <propertyZip>28144</propertyZip>
      <propertyCounty>Rowan</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>25</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>25</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>2025000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-05-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>159546.20</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>52704.22</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>106841.98</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>105591.98</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-032</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>EASTSIDE VILLAGE MOBILE HOME PARK</propertyName>
      <propertyAddress>102 BOOT HILL COURT</propertyAddress>
      <propertyCity>Spartanburg</propertyCity>
      <propertyState>SC</propertyState>
      <propertyZip>29303</propertyZip>
      <propertyCounty>Spartanburg</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>36</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>36</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1973</yearBuiltNumber>
      <valuationSecuritizationAmount>1850000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-04-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>228692.20</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>118541.36</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>110150.84</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>108350.84</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-033</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>VILLAGES SUN ESTATES</propertyName>
      <propertyAddress>32425 ANGLERS AVENUE</propertyAddress>
      <propertyCity>Leesburg</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>34748</propertyZip>
      <propertyCounty>Lake</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>36</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>36</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1969</yearBuiltNumber>
      <valuationSecuritizationAmount>1800000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.778</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>191330.56</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>105755.75</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>85574.81</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>83774.81</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-034</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>FLORIDA SUN ESTATES 2</propertyName>
      <propertyAddress>5601 AENON CHURCH TR, 5646 AENON CHURCH TR, 5660 WHITE HILL LN, 5750 WHITE HILL</propertyAddress>
      <propertyCity>Tallahassee</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32304</propertyZip>
      <propertyCounty>Leon</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>47</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>47</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1972</yearBuiltNumber>
      <valuationSecuritizationAmount>1600000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.83</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.81</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>212384.33</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>115417.62</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>96966.71</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>94616.71</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>15-035</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>SUNSHINE MOBILE HOME PARK</propertyName>
      <propertyAddress>1633 LAKE DRIVE</propertyAddress>
      <propertyCity>Cocoa</propertyCity>
      <propertyState>FL</propertyState>
      <propertyZip>32926</propertyZip>
      <propertyCounty>Brevard</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>32</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>32</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1956</yearBuiltNumber>
      <valuationSecuritizationAmount>1550000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-03-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.688</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.66</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>201465.28</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>92438.94</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>109026.34</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>107426.34</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-16-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>16</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>JPMCB</originatorName>
    <originationDate>02-26-2025</originationDate>
    <originalLoanAmount>13350000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-01-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.06345</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.06345</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-01-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>70588.13</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>13350000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>09-30-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>2700 PENNSYLVANIA</propertyName>
      <propertyAddress>2700 PENNSYLVANIA AVENUE</propertyAddress>
      <propertyCity>Santa Monica</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>90404</propertyZip>
      <propertyCounty>Los Angeles</propertyCounty>
      <propertyTypeCode>OF</propertyTypeCode>
      <netRentableSquareFeetNumber>66969</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>66969</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1976</yearBuiltNumber>
      <yearLastRenovated>2018</yearLastRenovated>
      <valuationSecuritizationAmount>46850000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>01-22-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-01-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Entertainment One</largestTenant>
      <squareFeetLargestTenantNumber>38769</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>08-31-2029</leaseExpirationLargestTenantDate>
      <secondLargestTenant>RED BULL NORTH AMERICA  INC.</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>28200</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>05-31-2026</leaseExpirationSecondLargestTenantDate>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>12-31-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>12-31-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>5448361.41</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>5828503.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>537597.86</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>566021.11</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>4910763.55</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>5262481.89</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>4828162.40</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>5179880.69</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>858822.25</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>5.72</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>6.1275</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>5.62</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>6.0313</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>02-26-2026</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>13350000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>65882.25</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.06345</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>65882.25</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>13350000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>13350000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-01-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>17</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>CREFI</originatorName>
    <originationDate>03-05-2025</originationDate>
    <originalLoanAmount>13000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0651</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0651</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>70525.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>13000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>09-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>950-952 BEDFORD AVENUE</propertyName>
      <propertyAddress>950-952 BEDFORD AVENUE</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11205</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>32</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>32</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2024</yearBuiltNumber>
      <valuationSecuritizationAmount>20200000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-12-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <revenueSecuritizationAmount>1264603.44</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>140371.29</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>1124232.15</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>1114082.15</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.31</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.30</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>13000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>65823.33</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0651</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>65823.33</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>13000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>13000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>18</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>03-28-2025</originationDate>
    <originalLoanAmount>11660000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.05866</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.05866</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>56997.97</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>11660000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-10-2025</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>01-10-2030</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>01-10-2030</prepaymentPremiumsEndDate>
    <property>
      <propertyName>THE HARLAN RESIDENCES AT HILLVIEW</propertyName>
      <propertyAddress>6533 HOLLYWOOD BOULEVARD</propertyAddress>
      <propertyCity>Los Angeles</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>90028</propertyZip>
      <propertyCounty>Los Angeles</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>54</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>54</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1920</yearBuiltNumber>
      <yearLastRenovated>2012</yearLastRenovated>
      <valuationSecuritizationAmount>23100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>Non-MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-11-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.889</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.95</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>12-31-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>12-31-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1732065.09</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1809311.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>774205.89</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>983748.55</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>957859.20</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>825562.45</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>932770.56</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>800473.81</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>693475.30</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.38</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.1904</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.35</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.1542</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>11660000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>53198.10</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.05866</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>53198.10</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>11660000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>11660000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>19</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>03-06-2025</originationDate>
    <originalLoanAmount>10550000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0669</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0669</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>58816.25</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>10550000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>4</NumberPropertiesSecuritization>
    <NumberProperties>4</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>Brooklyn &amp; Queens Multifamily Portfolio</propertyName>
      <propertyState>NY</propertyState>
      <propertyTypeCode>MU</propertyTypeCode>
      <unitsBedsRoomsNumber>25</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>25</unitsBedsRoomsSecuritizationNumber>
      <valuationSecuritizationAmount>16200000.00</valuationSecuritizationAmount>
      <valuationSecuritizationDate>10-09-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1183653.42</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>189814.34</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>993839.08</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>983759.58</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.39</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.37</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>10550000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>54895.17</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0669</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>54895.17</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>10550000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>10550000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>19-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1823 WOODBINE STREET</propertyName>
      <propertyAddress>1823 WOODBINE STREET</propertyAddress>
      <propertyCity>Ridgewood</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11385</propertyZip>
      <propertyCounty>Queens</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>8</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>8</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1913</yearBuiltNumber>
      <yearLastRenovated>2024</yearLastRenovated>
      <valuationSecuritizationAmount>4900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-09-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>361530.00</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>63417.35</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>298112.65</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>296112.65</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>02-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>19-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>490 KOSCIUSZKO STREET</propertyName>
      <propertyAddress>490 KOSCIUSZKO STREET</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11221</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>8</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>8</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1931</yearBuiltNumber>
      <yearLastRenovated>2013</yearLastRenovated>
      <valuationSecuritizationAmount>4500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-09-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>323922.79</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>40593.93</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>283328.86</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>281328.86</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>02-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>19-003</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>1930 PALMETTO STREET</propertyName>
      <propertyAddress>1930 PALMETTO STREET</propertyAddress>
      <propertyCity>Ridgewood</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11385</propertyZip>
      <propertyCounty>Queens</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>7</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>7</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1930</yearBuiltNumber>
      <yearLastRenovated>2024</yearLastRenovated>
      <valuationSecuritizationAmount>4500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-09-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>333450.00</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>60237.50</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>273212.50</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>271462.50</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>02-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>19-004</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>311 ROGERS AVENUE</propertyName>
      <propertyAddress>311 ROGERS AVENUE</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11225</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <unitsBedsRoomsNumber>2</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>2</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1930</yearBuiltNumber>
      <yearLastRenovated>2012</yearLastRenovated>
      <valuationSecuritizationAmount>2300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-09-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <largestTenant>ROGERS MANAGEMENT PARTNERS LLC</largestTenant>
      <squareFeetLargestTenantNumber>3330</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2034</leaseExpirationLargestTenantDate>
      <financialsSecuritizationDate>01-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>164750.63</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>25565.56</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>139185.07</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>134855.57</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>02-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>20</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>04-11-2025</originationDate>
    <originalLoanAmount>10150000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.065</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.065</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>54979.17</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>10150000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>01-10-2030</prepaymentLockOutEndDate>
    <property>
      <propertyName>AAA SELF STORAGE CHATSWORTH</propertyName>
      <propertyAddress>9111 JORDAN AVENUE</propertyAddress>
      <propertyCity>Los Angeles</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>91311</propertyZip>
      <propertyCounty>Los Angeles</propertyCounty>
      <propertyTypeCode>SS</propertyTypeCode>
      <netRentableSquareFeetNumber>98800</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>98800</netRentableSquareFeetSecuritizationNumber>
      <unitsBedsRoomsNumber>991</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>991</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1987</yearBuiltNumber>
      <valuationSecuritizationAmount>32480000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>12-18-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.946</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.93</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>12-31-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>12-31-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>2511706.48</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>2523744.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>440084.65</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>1275227.20</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>2071621.82</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>1248516.80</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>2058891.11</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>1235786.09</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>668913.25</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>3.10</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.8664</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>3.08</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.8474</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>10150000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>51313.89</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.065</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>51313.89</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>10150000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>10150000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>21</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>01-29-2025</originationDate>
    <originalLoanAmount>10100000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>02-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.08177</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.08177</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>03-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>68823.08</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>10100000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>11-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>HILTON GARDEN INN - COLUMBIA</propertyName>
      <propertyAddress>8241 SNOWDEN RIVER PARKWAY</propertyAddress>
      <propertyCity>Columbia</propertyCity>
      <propertyState>MD</propertyState>
      <propertyZip>21045</propertyZip>
      <propertyCounty>Howard</propertyCounty>
      <propertyTypeCode>LO</propertyTypeCode>
      <unitsBedsRoomsNumber>98</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>98</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2003</yearBuiltNumber>
      <valuationSecuritizationAmount>16100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-01-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.715</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>11-30-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>3361680.66</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>1864094.81</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>1497585.85</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>1363118.62</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.79</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.63</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>10100000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>64234.88</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.08177</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>64234.88</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>10100000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>10100000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>22</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>AREF2</originatorName>
    <originationDate>02-21-2025</originationDate>
    <originalLoanAmount>9425000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.073</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.073</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>57335.42</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>9425000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>613 8TH AVENUE</propertyName>
      <propertyAddress>613 8TH AVENUE</propertyAddress>
      <propertyCity>New York</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>10018</propertyZip>
      <propertyCounty>New York</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>16702</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>16702</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1952</yearBuiltNumber>
      <valuationSecuritizationAmount>17100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-15-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>JPMORGAN CHASE BANK, N.A.</largestTenant>
      <squareFeetLargestTenantNumber>6929</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>11-30-2026</leaseExpirationLargestTenantDate>
      <secondLargestTenant>BEER AUTHORITY INC.</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>6825</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>06-30-2031</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>300 VIDEO</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>2948</squareFeetThirdLargestTenantNumber>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1804079.62</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>815913.09</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>988166.53</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>969757.23</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.42</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.39</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>9425000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>53513.06</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.073</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>53513.06</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>9425000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>9425000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>23</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>02-18-2025</originationDate>
    <originalLoanAmount>8910000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>03-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0666</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0666</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>04-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>49450.50</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>8910000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>12-10-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>CUBESMART PENNS LANDING</propertyName>
      <propertyAddress>456 NORTH CHRISTOPHER COLUMBUS BOULEVARD</propertyAddress>
      <propertyCity>Philadelphia</propertyCity>
      <propertyState>PA</propertyState>
      <propertyZip>19123</propertyZip>
      <propertyCounty>Philadelphia</propertyCounty>
      <propertyTypeCode>SS</propertyTypeCode>
      <netRentableSquareFeetNumber>59000</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>59000</netRentableSquareFeetSecuritizationNumber>
      <unitsBedsRoomsNumber>576</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>576</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1980</yearBuiltNumber>
      <yearLastRenovated>2014</yearLastRenovated>
      <valuationSecuritizationAmount>13700000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-18-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.875</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-11-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1305199.93</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>498071.67</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>807128.26</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>782348.26</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.34</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.30</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>8910000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>46153.80</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0666</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>46153.80</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>8910000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>8910000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>24</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>WFB</originatorName>
    <originationDate>04-18-2025</originationDate>
    <originalLoanAmount>8700000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-11-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0684</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0684</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-11-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>8700000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>06-10-2027</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>02-10-2030</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>02-10-2030</prepaymentPremiumsEndDate>
    <property>
      <propertyName>ALL SECURE MINI STORAGE</propertyName>
      <propertyAddress>1172 OLD SALEM ROAD NORTHEAST, 1190 OLD SALEM ROAD NORTHEAST AND 1176 OLD SALEM RD NORTHEAST</propertyAddress>
      <propertyCity>Albany</propertyCity>
      <propertyState>OR</propertyState>
      <propertyZip>97321</propertyZip>
      <propertyCounty>Linn</propertyCounty>
      <propertyTypeCode>SS</propertyTypeCode>
      <netRentableSquareFeetNumber>105205</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>105205</netRentableSquareFeetSecuritizationNumber>
      <unitsBedsRoomsNumber>564</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>564</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1996</yearBuiltNumber>
      <yearLastRenovated>2020</yearLastRenovated>
      <valuationSecuritizationAmount>15300000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-10-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.904</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1082315.28</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>311917.81</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>770397.47</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>754616.72</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.28</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.25</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>8700000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>46284.00</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0684</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>46284.00</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>8700000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>8700000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-11-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>25</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>12-11-2024</originationDate>
    <originalLoanAmount>8000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>12-06-2029</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0714</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0714</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>01-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>47600.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>8000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>09-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>SOUTHPORT PLAZA</propertyName>
      <propertyAddress>7565 US HIGHWAY 31</propertyAddress>
      <propertyCity>Indianapolis</propertyCity>
      <propertyState>IN</propertyState>
      <propertyZip>46227</propertyZip>
      <propertyCounty>Marion</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>85083</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>85083</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1999</yearBuiltNumber>
      <valuationSecuritizationAmount>12400000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>09-19-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Bob's Dicount Furniture</largestTenant>
      <squareFeetLargestTenantNumber>33032</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>05-31-2027</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Shoe Carnival</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>24965</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>09-30-2028</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>Petco</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>15019</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>01-31-2030</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>09-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>12-31-2024</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>12-31-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>1258527.31</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>1363927.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>363098.53</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>394423.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>895428.78</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>969504.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>852887.28</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>926962.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>579133.36</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.55</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.674</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.47</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.6006</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>12-31-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>8000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>44426.67</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0714</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>44426.67</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>8000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>8000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>26</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>12-20-2024</originationDate>
    <originalLoanAmount>7900000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0701</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0701</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>46149.17</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>7900000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>DANA PLAZA</propertyName>
      <propertyAddress>4115 CONCORD BOULEVARD</propertyAddress>
      <propertyCity>Concord</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>94519</propertyZip>
      <propertyCounty>Contra Costa</propertyCounty>
      <propertyTypeCode>RT</propertyTypeCode>
      <netRentableSquareFeetNumber>40624</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>40624</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1986</yearBuiltNumber>
      <valuationSecuritizationAmount>12260000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>10-18-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.898</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>VIM N'VIGOR HEALTH &amp; FITNESS</largestTenant>
      <squareFeetLargestTenantNumber>15000</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>01-31-2034</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Ka 'Ohi Nani - Dance Studio</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>3300</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>12-31-2028</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>7-ELEVEN  Inc.</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>2940</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>09-30-2026</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>10-31-2024</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1226390.30</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>441191.53</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>785198.77</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>726921.95</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.40</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.29</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>7900000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>43072.56</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0701</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>43072.56</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>7900000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>7900000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>27</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>01-08-2025</originationDate>
    <originalLoanAmount>7000000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0751</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0751</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>43808.33</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>7000000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>769-791 NEWTON WAY</propertyName>
      <propertyAddress>769-791 NEWTON WAY</propertyAddress>
      <propertyCity>Costa Mesa</propertyCity>
      <propertyState>CA</propertyState>
      <propertyZip>92627</propertyZip>
      <propertyCounty>Orange</propertyCounty>
      <propertyTypeCode>IN</propertyTypeCode>
      <netRentableSquareFeetNumber>17820</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>17820</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>1968</yearBuiltNumber>
      <yearLastRenovated>2024</yearLastRenovated>
      <valuationSecuritizationAmount>14800000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-14-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.92</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Seven Eight Investments  LLC  a California limited</largestTenant>
      <squareFeetLargestTenantNumber>1492</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>09-30-2027</leaseExpirationLargestTenantDate>
      <secondLargestTenant>John Nelligan  an individual</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>1492</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>01-31-2029</leaseExpirationSecondLargestTenantDate>
      <thirdLargestTenant>Bigboy Investment Partnership  LLC  a California l</thirdLargestTenant>
      <squareFeetThirdLargestTenantNumber>1492</squareFeetThirdLargestTenantNumber>
      <leaseExpirationThirdLargestTenantDate>01-31-2034</leaseExpirationThirdLargestTenantDate>
      <financialsSecuritizationDate>11-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>924452.71</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>629818.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>184971.80</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>349415.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>739480.91</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>280403.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>723442.91</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>268374.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>398655.82</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.39</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.7033</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.36</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>0.6731</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>09-30-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>7000000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>40887.78</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0751</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>40887.78</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>7000000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>7000000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>28</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>04-21-2025</originationDate>
    <originalLoanAmount>6800000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>05-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0683</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0683</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>06-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>0.00</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>6800000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>05-05-2026</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>11-05-2029</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>11-05-2029</prepaymentPremiumsEndDate>
    <property>
      <propertyName>155 SMITH STREET</propertyName>
      <propertyAddress>155 SMITH STREET</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11201</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>10</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>10</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2024</yearBuiltNumber>
      <valuationSecuritizationAmount>10100000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>02-26-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <financialsSecuritizationDate>03-31-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>699864.00</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>110675.04</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>589188.96</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>587188.96</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.25</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.25</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>6800000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>36123.11</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0683</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>36123.11</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>6800000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>6800000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>29</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>04-03-2025</originationDate>
    <originalLoanAmount>6500000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>04-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0752</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0752</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>05-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>40733.33</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>6500000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>2</NumberPropertiesSecuritization>
    <NumberProperties>2</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>true</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>04-05-2026</prepaymentLockOutEndDate>
    <yieldMaintenanceEndDate>10-05-2029</yieldMaintenanceEndDate>
    <prepaymentPremiumsEndDate>10-05-2029</prepaymentPremiumsEndDate>
    <property>
      <propertyName>Andrew Multifamily Portfolio</propertyName>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>77</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>77</unitsBedsRoomsSecuritizationNumber>
      <valuationSecuritizationAmount>10500000.00</valuationSecuritizationAmount>
      <valuationSecuritizationDate>11-06-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <DefeasedStatusCode>X</DefeasedStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1394820.60</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>718911.28</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>675909.32</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>660509.32</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.36</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.33</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>6500000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>38017.78</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0752</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>38017.78</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>6500000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>6500000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>02-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>37992.5</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>B</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>29-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>100 EAST 92ND STREET</propertyName>
      <propertyAddress>100 EAST 92ND STREET</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11212</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>61</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>61</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1967</yearBuiltNumber>
      <valuationSecuritizationAmount>8500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-06-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>1141762.64</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>582979.02</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>558783.62</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>546583.62</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>03-31-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>29-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>23 EAST 17TH STREET</propertyName>
      <propertyAddress>23 EAST 17TH STREET</propertyAddress>
      <propertyCity>Brooklyn</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>11226</propertyZip>
      <propertyCounty>Kings</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>16</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>16</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1931</yearBuiltNumber>
      <valuationSecuritizationAmount>2000000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-06-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>02-28-2025</financialsSecuritizationDate>
      <revenueSecuritizationAmount>253057.96</revenueSecuritizationAmount>
      <operatingExpensesSecuritizationAmount>135932.26</operatingExpensesSecuritizationAmount>
      <netOperatingIncomeSecuritizationAmount>117125.70</netOperatingIncomeSecuritizationAmount>
      <netCashFlowFlowSecuritizationAmount>113925.70</netCashFlowFlowSecuritizationAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentAnnualLeaseRolloverReviewDate>03-31-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>30</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>12-20-2024</originationDate>
    <originalLoanAmount>6500000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-06-2030</maturityDate>
    <originalAmortizationTermNumber>360</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0695</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0695</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>0</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>2</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>43026.61</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>6478288.50</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>false</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>529 WEST 29TH STREET</propertyName>
      <propertyAddress>529 WEST 29TH STREET</propertyAddress>
      <propertyCity>New York</propertyCity>
      <propertyState>NY</propertyState>
      <propertyZip>10001</propertyZip>
      <propertyCounty>New York</propertyCounty>
      <propertyTypeCode>MU</propertyTypeCode>
      <netRentableSquareFeetNumber>16440</netRentableSquareFeetNumber>
      <netRentableSquareFeetSecuritizationNumber>16440</netRentableSquareFeetSecuritizationNumber>
      <yearBuiltNumber>2013</yearBuiltNumber>
      <valuationSecuritizationAmount>10900000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>11-19-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <largestTenant>Bright Horizon's Inc.</largestTenant>
      <squareFeetLargestTenantNumber>10840</squareFeetLargestTenantNumber>
      <leaseExpirationLargestTenantDate>05-31-2030</leaseExpirationLargestTenantDate>
      <secondLargestTenant>Garage</secondLargestTenant>
      <squareFeetSecondLargestTenantNumber>5600</squareFeetSecondLargestTenantNumber>
      <leaseExpirationSecondLargestTenantDate>06-30-2029</leaseExpirationSecondLargestTenantDate>
      <financialsSecuritizationDate>10-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>866365.77</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>666616.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>147439.96</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>76899.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>718925.80</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>589717.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>690490.06</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>568390.19</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>344213.00</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.39</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.7132</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.34</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.6512</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>12-31-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>6435215.46</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>43026.61</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0695</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>34785.91</scheduledInterestAmount>
    <scheduledPrincipalAmount>8240.70</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>6426974.77</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>6426974.76</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>31</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>01-10-2025</originationDate>
    <originalLoanAmount>3825000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0778</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0778</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>24798.75</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>3825000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>2</NumberPropertiesSecuritization>
    <NumberProperties>2</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>10-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>Park Meadowland West and Santa Rita Heights MHC Portfolio</propertyName>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>89</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>89</unitsBedsRoomsSecuritizationNumber>
      <valuationSecuritizationAmount>7375000.00</valuationSecuritizationAmount>
      <valuationSecuritizationDate>09-17-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.978</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.98</mostRecentPhysicalOccupancyPercentage>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>573588.83</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>447032.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>151076.60</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>147727.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>422512.23</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>299305.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>418062.23</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>295967.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <mostRecentDebtServiceAmount>225669.00</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.40</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3263</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.39</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3115</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>3825000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>23145.50</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0778</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>23145.50</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>3825000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>3825000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>31-001</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>SANTA RITA HEIGHTS MHC</propertyName>
      <propertyAddress>17111 SOUTH COUNTRY CLUB ROAD</propertyAddress>
      <propertyCity>Sahuarita</propertyCity>
      <propertyState>AZ</propertyState>
      <propertyZip>85629</propertyZip>
      <propertyCounty>Pima</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>50</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>50</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1972</yearBuiltNumber>
      <valuationSecuritizationAmount>4675000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>09-17-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>0.96</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>0.94</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>332462.52</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>447032.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>69463.62</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>147727.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>262998.90</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>299305.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>260498.90</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>295967.50</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>225669.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.3263</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.3115</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>31-002</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <property>
      <propertyName>PARK MEADOWLAND WEST MHC</propertyName>
      <propertyAddress>2630 SPRING CREEK ROAD</propertyAddress>
      <propertyCity>Belvidere</propertyCity>
      <propertyState>IL</propertyState>
      <propertyZip>61008</propertyZip>
      <propertyCounty>Boone</propertyCounty>
      <propertyTypeCode>MH</propertyTypeCode>
      <unitsBedsRoomsNumber>39</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>39</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>1966</yearBuiltNumber>
      <yearLastRenovated>2023</yearLastRenovated>
      <valuationSecuritizationAmount>2700000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>09-17-2024</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <financialsSecuritizationDate>12-31-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>241126.31</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>0.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>81612.99</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>0.00</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>159513.32</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>0.00</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>157563.32</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>0.00</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>0.00</mostRecentDebtServiceAmount>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>0.00</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <mostRecentDebtServiceCoverageCode>C</mostRecentDebtServiceCoverageCode>
      <mostRecentAnnualLeaseRolloverReviewDate>01-01-2025</mostRecentAnnualLeaseRolloverReviewDate>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
  </assets>
  <assets>
    <assetTypeNumber>Prospectus Loan ID</assetTypeNumber>
    <assetNumber>32</assetNumber>
    <reportingPeriodBeginningDate>02-12-2026</reportingPeriodBeginningDate>
    <reportingPeriodEndDate>03-11-2026</reportingPeriodEndDate>
    <originatorName>LMF</originatorName>
    <originationDate>12-19-2024</originationDate>
    <originalLoanAmount>3750000.00</originalLoanAmount>
    <originalTermLoanNumber>60</originalTermLoanNumber>
    <maturityDate>01-06-2030</maturityDate>
    <originalAmortizationTermNumber>0</originalAmortizationTermNumber>
    <originalInterestRatePercentage>0.0701</originalInterestRatePercentage>
    <interestRateSecuritizationPercentage>0.0701</interestRateSecuritizationPercentage>
    <interestAccrualMethodCode>3</interestAccrualMethodCode>
    <originalInterestRateTypeCode>1</originalInterestRateTypeCode>
    <originalInterestOnlyTermNumber>60</originalInterestOnlyTermNumber>
    <firstLoanPaymentDueDate>02-06-2025</firstLoanPaymentDueDate>
    <underwritingIndicator>true</underwritingIndicator>
    <lienPositionSecuritizationCode>1</lienPositionSecuritizationCode>
    <loanStructureCode>WL</loanStructureCode>
    <paymentTypeCode>3</paymentTypeCode>
    <periodicPrincipalAndInterestPaymentSecuritizationAmount>21906.25</periodicPrincipalAndInterestPaymentSecuritizationAmount>
    <scheduledPrincipalBalanceSecuritizationAmount>3750000.00</scheduledPrincipalBalanceSecuritizationAmount>
    <paymentFrequencyCode>1</paymentFrequencyCode>
    <NumberPropertiesSecuritization>1</NumberPropertiesSecuritization>
    <NumberProperties>1</NumberProperties>
    <graceDaysAllowedNumber>0</graceDaysAllowedNumber>
    <interestOnlyIndicator>true</interestOnlyIndicator>
    <balloonIndicator>true</balloonIndicator>
    <prepaymentPremiumIndicator>false</prepaymentPremiumIndicator>
    <negativeAmortizationIndicator>false</negativeAmortizationIndicator>
    <modifiedIndicator>false</modifiedIndicator>
    <prepaymentLockOutEndDate>07-05-2029</prepaymentLockOutEndDate>
    <property>
      <propertyName>1314 NORTH MARSTON STREET</propertyName>
      <propertyAddress>1314-20 NORTH MARSTON STREET</propertyAddress>
      <propertyCity>Philadelphia</propertyCity>
      <propertyState>PA</propertyState>
      <propertyZip>19121</propertyZip>
      <propertyCounty>Philadelphia</propertyCounty>
      <propertyTypeCode>MF</propertyTypeCode>
      <unitsBedsRoomsNumber>14</unitsBedsRoomsNumber>
      <unitsBedsRoomsSecuritizationNumber>14</unitsBedsRoomsSecuritizationNumber>
      <yearBuiltNumber>2023</yearBuiltNumber>
      <valuationSecuritizationAmount>5500000.00</valuationSecuritizationAmount>
      <valuationSourceSecuritizationCode>MAI</valuationSourceSecuritizationCode>
      <valuationSecuritizationDate>01-06-2025</valuationSecuritizationDate>
      <physicalOccupancySecuritizationPercentage>1</physicalOccupancySecuritizationPercentage>
      <mostRecentPhysicalOccupancyPercentage>1</mostRecentPhysicalOccupancyPercentage>
      <propertyStatusCode>6</propertyStatusCode>
      <defeasanceOptionStartDate>06-06-2027</defeasanceOptionStartDate>
      <DefeasedStatusCode>N</DefeasedStatusCode>
      <financialsSecuritizationDate>11-30-2024</financialsSecuritizationDate>
      <mostRecentFinancialsStartDate>01-01-2025</mostRecentFinancialsStartDate>
      <mostRecentFinancialsEndDate>09-30-2025</mostRecentFinancialsEndDate>
      <revenueSecuritizationAmount>407679.00</revenueSecuritizationAmount>
      <mostRecentRevenueAmount>317565.00</mostRecentRevenueAmount>
      <operatingExpensesSecuritizationAmount>70004.29</operatingExpensesSecuritizationAmount>
      <operatingExpensesAmount>39311.25</operatingExpensesAmount>
      <netOperatingIncomeSecuritizationAmount>337674.71</netOperatingIncomeSecuritizationAmount>
      <mostRecentNetOperatingIncomeAmount>278253.75</mostRecentNetOperatingIncomeAmount>
      <netCashFlowFlowSecuritizationAmount>334874.71</netCashFlowFlowSecuritizationAmount>
      <mostRecentNetCashFlowAmount>276153.75</mostRecentNetCashFlowAmount>
      <netOperatingIncomeNetCashFlowSecuritizationCode>UW</netOperatingIncomeNetCashFlowSecuritizationCode>
      <netOperatingIncomeNetCashFlowCode>CREFC</netOperatingIncomeNetCashFlowCode>
      <mostRecentDebtServiceAmount>194235.42</mostRecentDebtServiceAmount>
      <debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>1.27</debtServiceCoverageNetOperatingIncomeSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetOperatingIncomePercentage>1.4325</mostRecentDebtServiceCoverageNetOperatingIncomePercentage>
      <debtServiceCoverageNetCashFlowSecuritizationPercentage>1.26</debtServiceCoverageNetCashFlowSecuritizationPercentage>
      <mostRecentDebtServiceCoverageNetCashFlowpercentage>1.4217</mostRecentDebtServiceCoverageNetCashFlowpercentage>
      <debtServiceCoverageSecuritizationCode>F</debtServiceCoverageSecuritizationCode>
      <mostRecentDebtServiceCoverageCode>F</mostRecentDebtServiceCoverageCode>
    </property>
    <assetAddedIndicator>false</assetAddedIndicator>
    <reportPeriodModificationIndicator>false</reportPeriodModificationIndicator>
    <reportPeriodBeginningScheduleLoanBalanceAmount>3750000.00</reportPeriodBeginningScheduleLoanBalanceAmount>
    <totalScheduledPrincipalInterestDueAmount>20445.83</totalScheduledPrincipalInterestDueAmount>
    <reportPeriodInterestRatePercentage>0.0701</reportPeriodInterestRatePercentage>
    <servicerTrusteeFeeRatePercentage>0.0002425</servicerTrusteeFeeRatePercentage>
    <scheduledInterestAmount>20445.83</scheduledInterestAmount>
    <scheduledPrincipalAmount>0.00</scheduledPrincipalAmount>
    <unscheduledPrincipalCollectedAmount>0.00</unscheduledPrincipalCollectedAmount>
    <reportPeriodEndActualBalanceAmount>3750000.00</reportPeriodEndActualBalanceAmount>
    <reportPeriodEndScheduledLoanBalanceAmount>3750000.00</reportPeriodEndScheduledLoanBalanceAmount>
    <paidThroughDate>03-06-2026</paidThroughDate>
    <servicingAdvanceMethodCode>1</servicingAdvanceMethodCode>
    <nonRecoverabilityIndicator>false</nonRecoverabilityIndicator>
    <totalPrincipalInterestAdvancedOutstandingAmount>0</totalPrincipalInterestAdvancedOutstandingAmount>
    <totalTaxesInsuranceAdvancesOutstandingAmount>0</totalTaxesInsuranceAdvancesOutstandingAmount>
    <otherExpensesAdvancedOutstandingAmount>0</otherExpensesAdvancedOutstandingAmount>
    <paymentStatusLoanCode>0</paymentStatusLoanCode>
    <nextInterestRatePercentage>0</nextInterestRatePercentage>
    <primaryServicerName>Trimont LLC</primaryServicerName>
    <assetSubjectDemandIndicator>false</assetSubjectDemandIndicator>
  </assets>
</assetData>
