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Exhibit 1
Report of Independent Accountants on Applying
Agreed-Upon Procedures
FBRED REIT Real Estate Debt OPCO, LLC
251 Little Falls Drive
Wilmington, Delaware 19808
We (“us” or “PwC”) have performed the procedures enumerated below, which were agreed to by FBRED REIT Real Estate Debt OPCO, LLC (the “Company”, as the engaging party), and J.P. Morgan Securities LLC, Barclays Capital Inc., Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, and Performance Trust Capital Partners, LLC, who are collectively referred to as the “Specified Parties”, solely to assist you in performing certain procedures related to the accuracy of certain attributes and calculations within the Final Data File (defined below) related to the BSPDF 2026-FL5 Issuer, LLC securitization (the “Transaction”). The Company (the “Responsible Party”) is responsible for the Transaction and the accuracy of the information contained in the Final Data File.
In an agreed-upon procedures engagement, we perform specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the intended purpose of the engagement and we report on findings based on the procedures performed. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose.
Procedures and Findings
In connection with the Transaction, the Specified Parties have requested that the procedures be performed on the entire population of collateral for the Transaction, consisting of 67 mortgage loans (the “Mortgage Loan Assets”) secured by 127 mortgaged properties (the “Mortgaged Properties”) (collectively the “Collateral”), of which 4 mortgage loans, identified on the Final Data File with Collateral Interest/Mortgaged Property Names of “The Waypoint Florida Portfolio”, “Seraphine”, “Livano Wildwood” and “Soluna” have not closed (the “Delayed Close Mortgage Loan Assets”) as of the date of this report.
This agreed-upon procedures engagement was not conducted for the purpose of satisfying any criteria for due diligence published by a nationally recognized statistical rating organization.
In addition, PwC should not be regarded as having in any way warranted or given any assurance as to the following items:
| · | The completeness, accuracy, appropriateness, quality or integrity of any of the information provided by the Responsible Party, or any other party for the purpose of PwC performing the procedures agreed to by the Specified Parties. The procedures performed would not necessarily reveal any material misstatement of the amounts, balances, ratios, percentages or other relationships of the information included in the data provided to us; |
| · | The conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements; |
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| · | The existence of the assets or collateral securing such assets; |
| · | The rights of any party including, the Specified Parties, the Responsible Party, the issuer, or the Transaction have to the assets or collateral securing such assets or any obligations on those assets or collateral securing such assets; |
| · | The value of the collateral securing such assets; and |
| · | The compliance of the originator of the assets with federal, state, and local laws and regulations. |
We have not performed any procedures with respect to the fair value of the securities being offered in the Transaction and PwC expresses no opinion on the fair value of these securities. PwC should not be regarded as having performed any procedures other than those detailed in this report.
With respect to any terms or requirements of the Transaction documents that do not appear in this report, we performed no procedures and, accordingly, the procedures we performed would not ensure that any requirements are satisfied. Further, we have performed only the following agreed-upon procedures and therefore make no representations regarding the adequacy of disclosures or whether any material facts have been omitted from the Transaction documents.
It should be understood that we make no representations as to:
| · | The interpretation of Transaction documents included in connection with our procedures; |
| · | Your compliance with Rule 15Ga-2 of the Securities Exchange Act of 1934; and |
| · | The reasonableness of any of the assumptions provided by the Company or other Specified Parties. |
These procedures should not be taken to supplant any additional inquiries or procedures that the Specified Parties would undertake in consideration of the Transaction.
For the purpose of this report:
| · | The phrase “Cut-off Date” refers to the date of July 9, 2026. |
| · | The phrase “Final Data File” refers to the following Microsoft Excel (“Excel”) file provided by the Company, which includes certain attributes related to the Collateral. The Final Data File was provided on July 23, 2026 with certain Collateral attribute calculations adjusted for the Cut-off Date: |
| o | BSPDF 2026-FL5 Accounting Tape_vFiling.xlsx (provided on July 23, 2026). |
| · | The phrase “Specified Attributes” refers to the fields in the Final Data File. |
| · | The phrase “Source Document” refers to the documents (including any applicable amendments, assumptions or exhibits thereof) provided by the Company, related to the information contained in the Final Data File. |
| · | The phrase “Loan File” refers to any Source Document or collection of Source Documents provided by the Company, and used by us, in performing the procedures enumerated below. |
| · | The term “compared” refers to the comparison of certain Specified Attributes to Source Documents, as indicated within Exhibit A. |
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| · | The term “recalculated” refers to a re-computation of one or more Specified Attributes using the Company provided methodology as shown within Exhibit B. |
| · | The phrase “in agreement” refers to the comparison or Recalculated Attribute of one or more Specified Attributes which resulted in a match, or a difference that was within the Company provided tolerance level (if any) as shown within Exhibit A. |
Source Documents included in the Loan File:
| · | The phrase “Appraisal Report” refers to a signed appraisal document or exhibit, appraisal summary and/or a restricted appraisal document. |
| · | The phrase “Cash Management Agreement” refers to signed or draft cash management agreement, cash management excel and/or deposit and control account agreement. |
| · | The phrase “Cross Collateralization Agreement” refers to signed cross collateralization agreement, if applicable. |
| · | The phrase “Engineering Report” refers to a draft or final property condition assessment document or exhibit. |
| · | The phrase “Environmental Report” refers to a final phase I and phase II (if applicable) environmental document or exhibit. |
| · | The phrase “Franchise Agreement” refers to a signed or draft franchise agreement, if applicable. |
| · | The phrase “Ground Lease” refers to the signed or draft ground lease agreement, ground lease estoppel, ground lease abstract and/or assumptions or riders thereof. |
| · | The phrase “Guaranty Agreement” refers to a signed or draft guaranty agreement or environmental indemnity agreement. |
| · | The phrase “Insurance Binder” refers to a certificate of insurance and/or insurance risk analysis, if applicable. |
| · | The phrase “Interest Rate Cap Agreement” refers to a signed or draft interest rate cap agreement, interest rate cap confirmation or a transaction summary document. |
| · | The phrase “Loan Agreement” refers to a signed or draft loan agreement and any amendments, slip pages or exhibits thereof, a signed or draft promissory note and other security agreements. |
| · | The phrase “Management Agreement” refers to signed management agreement and any amendments, assignments or assumptions thereof. |
| · | The phrase “Seismic Report” refers to a seismic assessment document or exhibit. |
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| · | The phrase “Servicing Report” refers to schedules dated as of July 9, 2026 of loan and escrow balances, provided between July 13, 2026 and July 23, 2026. |
| · | The phrase “Settlement Statement” refers to a borrower, title company and/or lender mortgage loan closing statement, as well as a funding statement in Excel, indicating the sources and uses of dispersed funds. |
| · | The phrase “Subordinate Debt Interest Rate Cap Agreement” refers to a signed or draft interest rate cap agreement, interest rate cap confirmation or a transaction summary document related to the subordinate loan, if applicable. |
| · | The phrase “Subordinate Debt Loan Agreement” refers to a signed mezzanine, junior or other subordinate loan agreement and promissory note, if applicable. |
| · | The phrase “Tenancy In Common Agreement” refers to a signed tenancy in common agreement. |
| · | The phrase “Title Policy” refers to a signed or proforma title policy. |
| · | The phrase “Underwriting File” refers to the electronic underwriting file consisting of historical and underwritten cash flow statements and underwritten rent roll prepared by the Company’s underwriting team and borrower provided rent rolls. |
The documents made available to us by the Company for purposes of performing the procedures may have included drafts, unsigned, or non-final versions. We have not verified that such documents were executed or represent the final agreed-upon terms, and did not perform any procedures to compare such documents to executed versions, if any. We did not validate, confirm, or review any signatures for authenticity. Accordingly, we make no representation regarding the completeness, accuracy, or finality of such documents.
The procedures performed and results thereof are described below. In performing this engagement, we received one or more preliminary data file(s) and performed certain procedures as set forth in Exhibit A and Exhibit B. The procedures identified differences, which were communicated to the Responsible Party. The Responsible Party revised one or more of the preliminary data files based on such communicated differences, where they determined it to be appropriate. We then performed these procedures on the Final Data File, and the results of those procedures are described below.
From June 22, 2026 through July 23, 2026, the Company provided us with the Source Documents related to the Collateral for which:
| · | We compared certain Specified Attributes to the corresponding Source Documents as detailed in Exhibit A and found them to be in agreement (the “Compared Attributes”); |
| · | We recalculated certain Specified Attributes as detailed in Exhibit B and found them to be in agreement (the “Recalculated Attributes”); or |
| · | Certain Specified Attributes were provided by the Company and were neither compared to the corresponding Source Documents nor recalculated. These attributes are listed in Exhibit A as a “Company Provided Attribute” and in Exhibit C. |
The Recalculated Attribute methodology associated with the Recalculated Attributes is listed in Exhibit B. For each procedure where a Recalculated Attribute was performed, if necessary, we compared the underlying attributes to the corresponding Source Documents and found them to be in
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agreement. With respect to the Delayed Closed Mortgage Loan Asset, we were instructed by the Company to recalculate certain Specified Attributes as detailed in Exhibit B using the Company Provided Attributes in the Final Data File. For the avoidance of doubt, with respect to the Delayed Close Mortgage Loan Assets, we did not compare the Specified Attributes to the corresponding Source Documents.
This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not conduct an audit or an examination engagement, the objective of which would be the expression of an opinion, or a review engagement, the objective of which would be the expression of a conclusion, on the Transaction or the Final Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.
In performing this engagement, we are required to be independent of the Responsible Party and to meet our ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information and use of the Specified Parties (including for the purpose of substantiating the Specified Parties' “due diligence defense” under the Securities Act of 1933), and is not intended to be and should not be used by anyone other than the Specified Parties.
If a party has obtained, or has access to, this report without having executed an agreement with PwC wherein such party accepts responsibility for the appropriateness of the procedures performed (such party is referred to as a “Non-Specified Party”), that Non-Specified Party cannot:
| · | Rely upon this report, and any use of this report by that Non-Specified Party is its sole responsibility and at its sole and exclusive risk; and |
| · | Acquire any rights or claims against PwC, and PwC assumes no duties or obligations to such Non-Specified Party. |
A Non-Specified Party may not disclose or distribute this report or any of the report’s contents to any
other party (including but not limited to electronic distribution and/or posting to a website pursuant to Rule 17g-5 of the Securities Exchange Act of 1934).
The procedures enumerated above were performed as of the date of this report, and we disclaim any consideration of any events and circumstances occurring after the date of this report. Further, we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report.
/s/ PricewaterhouseCoopers LLP
New York, NY
July 23, 2026
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Exhibits
Exhibit A – Loan File Procedures
Exhibit B – Recalculated Attribute Methodology
Exhibit C – Additional Company Provided Attributes
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 1 | Collateral Interest Number | Company Provided Attribute | None |
| 2 | Collateral Interest Type | Company Provided Attribute | None |
| 3 | Unclosed/Closed | Company Provided Attribute | None |
| 4 | Collateral Interest Status | Company Provided Attribute | None |
| 5 | Collateral Interest / Property Flag | Company Provided Attribute | None |
| 6 | # of Properties | Appraisal Report | None |
| 7 | Collateral Interest/Mortgaged Property Name | Company Provided Attribute | None |
| 8 | Cross Collateralized and Cross Defaulted Loan Flag | Loan Agreement, Cross Collateralization Agreement | None |
| 9 | Property Address(1) | Appraisal Report | None |
| 10 | City | Appraisal Report | None |
| 11 | State | Appraisal Report | None |
| 12 | Zip Code | Appraisal Report | None |
| 13 | County | Appraisal Report | None |
| 14 | Year Built | Appraisal Report, Engineering Report | None |
| 15 | Year Renovated | Appraisal Report, Engineering Report | None |
| 16 | Property Type | Appraisal Report | None |
| 17 | Specific Property Type | Appraisal Report | None |
| 18 | Number of Units(2) | Underwriting File | None |
| 19 | Unit of Measure(3) | Underwriting File | None |
| 20 | Occupancy (%) | Underwriting File | 0.10% |
| 21 | Occupancy Date | Underwriting File | None |
| 22 | Ownership Interest | Title Policy | None |
| 23 | Loan Purpose | Settlement Statement | None |
| 24 | Note Date | Loan Agreement | None |
| 25 | First Payment Date(4) | Loan Agreement | None |
| 26 | Mortgage Loan Commitment Original Balance ($) | Loan Agreement | $0.01 |
| 27 | Mortgage Loan Commitment Original Balance / Unit ($) | Recalculated Attribute | $0.01 |
| 28 | Mortgage Loan Initial Funded Amount ($) | Loan Agreement, Settlement Statement | $0.01 |
| 29 | Mortgage Loan Initial Unfunded Future Funding Amount ($)(5) | Loan Agreement | $0.01 |
| 30 | Mortgage Loan Cut-off Date Balance ($) | Servicing Report, Loan Agreement, Settlement Statement | $0.01 |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 31 | Mortgage Loan Cut-off Date Balance / Unit ($) | Recalculated Attribute | $0.01 |
| 32 | Mortgage Loan Future Funding Participation Cut-off Date Unfunded Balance ($) | Servicing Report, Loan Agreement, Settlement Statement | $0.01 |
| 33 | Future Funding Advance Conditions | Loan Agreement | None |
| 34 | Mortgage Loan Balloon Balance ($) | Recalculated Attribute | $0.01 |
| 35 | Mortgage Loan Balloon Balance / Unit ($) | Recalculated Attribute | $0.01 |
| 36 | Mortgage Loan Annual Debt Service Payment (IO) ($) | Recalculated Attribute | None |
| 37 | Mortgage Loan Annual Debt Service Payment (P&I) ($) | Recalculated Attribute | None |
| 38 | Mortgage Loan Annual Debt Service Payment (Cap) ($) | Recalculated Attribute | None |
| 39 | Mortgage Loan Maturity Annual Debt Service (P&I) ($) | Recalculated Attribute | None |
| 40 | Mortgage Loan Maturity Annual Debt Service (Cap) ($) | Recalculated Attribute | None |
| 41 | Collateral Interest Cut-off Date Balance ($) | Company Provided Attribute | None |
| 42 | Aggregate Collateral Interest Cut-off Date Balance % | Recalculated Attribute | None |
| 43 | Collateral Interest Balloon Balance ($) | Recalculated Attribute | $0.01 |
| 44 | Collateral Interest Future Funding Participation Cut-off Date Unfunded Balance ($) | Recalculated Attribute | $0.01 |
| 45 | Collateral Interest Annual Debt Service Payment (IO) ($) | Recalculated Attribute | None |
| 46 | Collateral Interest Annual Debt Service Payment (P&I) ($) | Recalculated Attribute | None |
| 47 | Collateral Interest Annual Debt Service Payment (Cap) ($) | Recalculated Attribute | None |
| 48 | Pari Passu Funded Amount | Recalculated Attribute | $0.01 |
| 49 | Pari Passu Balance in Other Securitization | Company Provided Attribute | None |
| 50 | Rate Type | Loan Agreement | None |
| 51 | Index | Loan Agreement | None |
| 52 | Index Rate Assumption | Recalculated Attribute | None |
| 53 | Mortgage Loan Margin | Loan Agreement | None |
| 54 | Mortgage Loan Cut-off Date Interest Rate | Recalculated Attribute | None |
| 55 | Mortgage Loan Margin Change (Y/N) | Loan Agreement | None |
| 56 | Mortgage Loan Margin Change Description | Loan Agreement | None |
| 57 | Mortgage Loan Rate Cap | Recalculated Attribute | None |
| 58 | Mortgage Loan Rate Floor | Recalculated Attribute | None |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 59 | Mortgage Loan Index Floor | Loan Agreement | None |
| 60 | Mortgage Loan Index Cap | Interest Rate Cap Agreement | None |
| 61 | Mortgage Loan Index Cap Termination Date | Interest Rate Cap Agreement | None |
| 62 | Mortgage Loan Index Cap Provider | Interest Rate Cap Agreement | None |
| 63 | Collateral Interest Margin | Loan Agreement | None |
| 64 | Collateral Interest Cut-off Date Interest Rate | Recalculated Attribute | None |
| 65 | Junior Participation Cut-off Date Balance | Company Provided Attribute | None |
| 66 | Junior Participation Cut-off Date Future Funding Unfunded Balance ($) | Company Provided Attribute | None |
| 67 | Junior Participation Balloon Payment ($) | Company Provided Attribute | None |
| 68 | Junior Participation Cut-off Date Margin | Company Provided Attribute | None |
| 69 | Junior Participation Cut-off Date Interest Rate | Recalculated Attribute | None |
| 70 | Amortization Type During Initial Term | Loan Agreement | None |
| 71 | Initial IO Period | Loan Agreement | None |
| 72 | Initial IO Period (Remaining) | Recalculated Attribute | None |
| 73 | Original Loan Term (Initial) | Recalculated Attribute | None |
| 74 | Original Loan Term (Remaining) | Recalculated Attribute | None |
| 75 | ARD Loan (Y/N) | Loan Agreement | None |
| 76 | Initial Maturity Date or Anticipated Repayment Date | Loan Agreement | None |
| 77 | Seasoning (months) | Recalculated Attribute | None |
| 78 | Extension Options (Y/N) | Loan Agreement | None |
| 79 | Extension Options Description | Loan Agreement | None |
| 80 | Amortization Type During Extensions | Loan Agreement | None |
| 81 | Amortization Type During Extensions Description | Loan Agreement | None |
| 82 | First Extension Period (months) | Loan Agreement | None |
| 83 | First Extension Fee | Loan Agreement | None |
| 84 | First Extension Period Requirements | Loan Agreement | None |
| 85 | First Extension Floor | Recalculated Attribute | None |
| 86 | First Extension Cap | Loan Agreement | None |
| 87 | Second Extension Period (months) | Loan Agreement | None |
| 88 | Second Extension Fee | Loan Agreement | None |
| 89 | Second Extension Period Requirements | Loan Agreement | None |
| 90 | Second Extension Floor | Recalculated Attribute | None |
| 91 | Second Extension Cap | Loan Agreement | None |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 92 | Third Extension Period (months) | Loan Agreement | None |
| 93 | Third Extension Fee | Loan Agreement | None |
| 94 | Third Extension Period Requirements | Loan Agreement | None |
| 95 | Third Extension Floor | Recalculated Attribute | None |
| 96 | Third Extension Cap | Loan Agreement | None |
| 97 | Fully Extended Loan Term (Initial) | Recalculated Attribute | None |
| 98 | Fully Extended Loan Term (Remaining) | Recalculated Attribute | None |
| 99 | Fully Extended Maturity Date | Loan Agreement | None |
| 100 | Third Most Recent As Of Period | Underwriting File | 1 Day |
| 101 | Third Most Recent Revenues | Underwriting File | $1.00 |
| 102 | Third Most Recent Expenses | Underwriting File | $1.00 |
| 103 | Third Most Recent NOI | Underwriting File | $1.00 |
| 104 | Third Most Recent NCF | Underwriting File | $1.00 |
| 105 | Third Most Recent Occupancy (For Hospitality) | Underwriting File | 0.10% |
| 106 | Third Most Recent ADR | Underwriting File | None |
| 107 | Third Most Recent RevPAR | Underwriting File | None |
| 108 | Second Most Recent As Of Period | Underwriting File | 1 Day |
| 109 | Second Most Recent Revenues | Underwriting File | $1.00 |
| 110 | Second Most Recent Expenses | Underwriting File | $1.00 |
| 111 | Second Most Recent NOI | Underwriting File | $1.00 |
| 112 | Second Most Recent NCF | Underwriting File | $1.00 |
| 113 | Second Most Recent Occupancy (For Hospitality) | Underwriting File | 0.10% |
| 114 | Second Most Recent ADR | Underwriting File | None |
| 115 | Second Most Recent RevPAR | Underwriting File | None |
| 116 | Most Recent As Of Period | Underwriting File | 1 Day |
| 117 | Most Recent Revenues | Underwriting File | $1.00 |
| 118 | Most Recent Expenses | Underwriting File | $1.00 |
| 119 | Most Recent NOI | Underwriting File | $1.00 |
| 120 | Most Recent NCF | Underwriting File | $1.00 |
| 121 | Most Recent Occupancy (For Hospitality) | Underwriting File | 0.10% |
| 122 | Most Recent ADR | Underwriting File | None |
| 123 | Most Recent RevPAR | Underwriting File | None |
| 124 | Mortgage Loan Most Recent NOI DSCR | Recalculated Attribute | None |
| 125 | Mortgage Loan Most Recent NCF DSCR | Recalculated Attribute | None |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 126 | Cut-off Date Mortgage Loan Most Recent NOI Debt Yield | Recalculated Attribute | None |
| 127 | Cut-off Date Mortgage Loan Most Recent NCF Debt Yield | Recalculated Attribute | None |
| 128 | Collateral Interest Most Recent NOI DSCR | Recalculated Attribute | None |
| 129 | Collateral Interest Most Recent NCF DSCR | Recalculated Attribute | None |
| 130 | Cut-off Date Collateral Interest Most Recent NOI Debt Yield | Recalculated Attribute | None |
| 131 | Cut-off Date Collateral Interest Most Recent NCF Debt Yield | Recalculated Attribute | None |
| 132 | Underwritten Occupancy (%) | Underwriting File | 0.10% |
| 133 | Underwritten Revenues ($) | Underwriting File | $1.00 |
| 134 | Underwritten Expenses ($) | Underwriting File | $1.00 |
| 135 | Underwritten NOI ($) | Underwriting File | $1.00 |
| 136 | Underwritten Reserves ($) | Underwriting File | $1.00 |
| 137 | Underwritten NCF ($) | Underwriting File | $1.00 |
| 138 | Underwritten ADR | Underwriting File | None |
| 139 | Underwritten RevPAR | Underwriting File | None |
| 140 | Mortgage Loan Cut-off Date Balance Underwritten NOI DSCR | Recalculated Attribute | None |
| 141 | Mortgage Loan Cut-off Date Balance Underwritten NCF DSCR | Recalculated Attribute | None |
| 142 | Mortgage Loan Cut-off Date Balance Underwritten NOI Debt Yield | Recalculated Attribute | None |
| 143 | Mortgage Loan Cut-off Date Balance Underwritten NCF Debt Yield | Recalculated Attribute | None |
| 144 | Collateral Interest Cut-off Date Balance Underwritten NOI DSCR | Recalculated Attribute | None |
| 145 | Collateral Interest Cut-off Date Balance Underwritten NCF DSCR | Recalculated Attribute | None |
| 146 | Collateral Interest Cut-off Date Balance Underwritten NOI Debt Yield | Recalculated Attribute | None |
| 147 | Collateral Interest Cut-off Date Balance Underwritten NCF Debt Yield | Recalculated Attribute | None |
| 148 | Underwritten Stabilized Occupancy (%) | Underwriting File | 0.10% |
| 149 | Underwritten Stabilized Revenues ($) | Underwriting File | $1.00 |
| 150 | Underwritten Stabilized Expenses ($) | Underwriting File | $1.00 |
| 151 | Underwritten Stabilized NOI ($) | Underwriting File | $1.00 |
| 152 | Underwritten Stabilized Reserves ($) | Underwriting File | $1.00 |
| 153 | Underwritten Stabilized NCF ($) | Underwriting File | $1.00 |
| 154 | Underwritten Stabilized ADR | Underwriting File | None |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 155 | Underwritten Stabilized RevPAR | Underwriting File | None |
| 156 | Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR | Recalculated Attribute | None |
| 157 | Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR | Recalculated Attribute | None |
| 158 | Fully Funded Mortgage Loan Underwritten Stabilized NOI Debt Yield | Recalculated Attribute | None |
| 159 | Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield | Recalculated Attribute | None |
| 160 | Collateral Interest Underwritten Stabilized NOI DSCR | Recalculated Attribute | None |
| 161 | Collateral Interest Underwritten Stabilized NCF DSCR | Recalculated Attribute | None |
| 162 | Collateral Interest Underwritten Stabilized NOI Debt Yield | Recalculated Attribute | None |
| 163 | Collateral Interest Underwritten Stabilized NCF Debt Yield | Recalculated Attribute | None |
| 164 | Appraisal Stabilized Occupancy (%) | Underwriting File | 0.10% |
| 165 | Appraisal Stabilized Revenues ($) | Underwriting File | $1.00 |
| 166 | Appraisal Stabilized Expenses ($) | Underwriting File | $1.00 |
| 167 | Appraisal Stabilized NOI ($) | Underwriting File | $1.00 |
| 168 | Appraisal Stabilized Reserves ($) | Underwriting File | $1.00 |
| 169 | Appraisal Stabilized NCF ($) | Underwriting File | $1.00 |
| 170 | Appraisal Stabilized ADR | Underwriting File | None |
| 171 | Appraisal Stabilized RevPAR | Underwriting File | None |
| 172 | Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR | Recalculated Attribute | None |
| 173 | Fully Funded Mortgage Loan Appraisal Stabilized NCF DSCR | Recalculated Attribute | None |
| 174 | Fully Funded Mortgage Loan Appraisal Stabilized NOI Debt Yield | Recalculated Attribute | None |
| 175 | Fully Funded Mortgage Loan Appraisal Stabilized NCF Debt Yield | Recalculated Attribute | None |
| 176 | Collateral Interest Appraisal Stabilized NOI DSCR | Recalculated Attribute | None |
| 177 | Collateral Interest Appraisal Stabilized NCF DSCR | Recalculated Attribute | None |
| 178 | Collateral Interest Appraisal Stabilized NOI Debt Yield | Recalculated Attribute | None |
| 179 | Collateral Interest Appraisal Stabilized NCF Debt Yield | Recalculated Attribute | None |
| 180 | Borrower | Loan Agreement | None |
| 181 | Recourse | Guaranty Agreement, Loan Agreement | None |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 182 | Recourse Provisions | Guaranty Agreement, Loan Agreement | None |
| 183 | Recourse Carveout Guarantor | Guaranty Agreement, Loan Agreement | None |
| 184 | Sponsor | Loan Agreement, Guaranty Agreement | None |
| 185 | Affiliated Sponsor (Y/N) | Recalculated Attribute | None |
| 186 | Tenants-in-common (Y/N) | Loan Agreement, Tenancy In Common Agreement | None |
| 187 | Ground Lease (Y/N) | Title Policy | None |
| 188 | Annual Ground Lease Payment ($) | Ground Lease | None |
| 189 | Ground Lease Initial Expiration Date | Ground Lease | None |
| 190 | Ground Lease Extension (Y/N) | Ground Lease | None |
| 191 | # of Ground Lease Extension Options | Ground Lease | None |
| 192 | Ground Lease Expiration Date with Extensions | Ground Lease | None |
| 193 | Engineering Report Date | Engineering Report | None |
| 194 | Environmental Report Date (Phase I) | Environmental Report | None |
| 195 | Environmental Report Date (Phase II) | Environmental Report | None |
| 196 | Environmental Insurance (Y/N) | Insurance Binder | None |
| 197 | Seismic Report Date | Seismic Report, Engineering Report | None |
| 198 | Seismic PML % | Seismic Report, Engineering Report | None |
| 199 | Seismic Insurance Obtained if PML >= 20% (Y/N) | Seismic Report, Engineering Report, Insurance Binder | None |
| 200 | Lockbox Type | Loan Agreement, Cash Management Agreement | None |
| 201 | Cash Management Type | Loan Agreement, Cash Management Agreement | None |
| 202 | Cash Management Trigger Event | Loan Agreement, Cash Management Agreement | None |
| 203 | Tax Escrow (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 204 | Tax Escrow (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 205 | Tax Escrow (Monthly) ($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 206 | Springing Tax Escrow Description | Loan Agreement | None |
| 207 | Insurance Escrow (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 208 | Insurance Escrow (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 209 | Insurance Escrow (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
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| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 210 | Springing Insurance Escrow Description | Loan Agreement | None |
| 211 | Replacement Reserve (Upfront)($) | Loan Agreement, Settlement Statement | $1.00 |
| 212 | Replacement Reserve (Cut-off Date)($) | Settlement Statement, Servicing Report | $1.00 |
| 213 | Replacement Reserve (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 214 | Replacement Reserve Cap($) | Loan Agreement | None |
| 215 | Springing Replacement Reserve Description | Loan Agreement | None |
| 216 | TI/LC Reserve (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 217 | TI/LC Reserve (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 218 | TI/LC Reserve (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 219 | TI/LC Reserve Cap($) | Loan Agreement | None |
| 220 | Springing TI/LC Reserve Description | Loan Agreement | None |
| 221 | Environmental Reserve (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 222 | Environmental Reserve (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 223 | Upfront Engineering/Deferred Maintenance Escrow (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 224 | Upfront Engineering/Deferred Maintenance Escrow (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 225 | Debt Service Reserve (Upfront) ($) | Loan Agreement, Settlement Statement | $1.00 |
| 226 | Debt Service Reserve (Cut-off Date) ($) | Settlement Statement, Servicing Report | $1.00 |
| 227 | Debt Service Reserve (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 228 | Debt Service Reserve Cap($) | Loan Agreement | None |
| 229 | Springing Debt Service Reserve Description | Loan Agreement | None |
| 230 | Other Reserves (Upfront)($) | Loan Agreement, Settlement Statement | $1.00 |
| 231 | Other Reserves (Cut-Off Date)($) | Settlement Statement, Servicing Report | $1.00 |
| 232 | Other Reserves (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 233 | Other Reserves Cap ($) | Loan Agreement | None |
| 234 | Other Reserves Description | Loan Agreement | None |
| 235 | Other Reserves 2 (Upfront)($) | Loan Agreement, Settlement Statement | $1.00 |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 14 |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 236 | Other Reserves 2 (Cut-Off Date) ($) |
Settlement Statement, Servicing Report | $1.00 |
| 237 | Other Reserves 2 (Monthly)($) | Loan Agreement, Servicing Report, Settlement Statement | $1.00 |
| 238 | Other Reserves 2 Cap ($) | Loan Agreement | None |
| 239 | Other Reserves 2 Description | Loan Agreement | None |
| 240 | Subordinate Debt (Y/N) | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 241 | Subordinate Debt Type | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 242 | Subordinate Debt Margin | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 243 | Subordinate Debt Interest Rate | Recalculated Attribute | None |
| 244 | Subordinate Debt Cut-off Date Balance ($) | Subordinate Debt Loan Agreement, Loan Agreement, Servicing Report | $0.01 |
| 245 | Total Debt Cut-off Date Balance ($) | Recalculated Attribute | $0.01 |
| 246 | Subordinate Debt Annual Debt Service Payment (P&I) ($) | Recalculated Attribute | None |
| 247 | Subordinate Debt Annual Debt Service at Cap ($) | Recalculated Attribute | None |
| 248 | Subordinate Debt Amortization Type | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 249 | Subordinate Debt Rate Type | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 250 | Subordinate Debt Index Floor | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 251 | Subordinate Debt Index Cap | Subordinate Debt Interest Rate Cap Agreement | None |
| 252 | Subordinate Debt Index Rounding | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 253 | Subordinate Debt Index | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 254 | Subordinate Debt Accrual | Subordinate Debt Loan Agreement, Loan Agreement | None |
| 255 | Total Debt Cut-off Date As-Is LTV | Recalculated Attribute | None |
| 256 | Total Debt Cut-off Date UW NCF DSCR | Recalculated Attribute | None |
| 257 | Total Debt Cut-off Date UW NOI DY | Recalculated Attribute | None |
| 258 | Future Debt Permitted (Y/N) | Loan Agreement | None |
| 259 | Permitted Future Debt Type | Loan Agreement | None |
| 260 | Grace Period Default (Days) | Loan Agreement | None |
| 261 | Grace Period Late (Days) | Loan Agreement | None |
| 262 | Initial Prepayment Provision | Loan Agreement | None |
| 263 | Remaining Call Protection (Cut-off Date) | Recalculated Attribute | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 15 |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 264 | Upfront Minimum Interest Period | Loan Agreement | None |
| 265 | Partial Release and/or Partial Prepayment (Y/N) | Loan Agreement | None |
| 266 | Appraisal Firm | Appraisal Report | None |
| 267 | As-Is Appraisal Valuation Date | Appraisal Report | None |
| 268 | As-Is Appraised Value ($) | Appraisal Report | None |
| 269 | Stabilized Appraised Value ($) | Appraisal Report | None |
| 270 | Appraisal Anticipated Stabilization Date | Appraisal Report | None |
| 271 | Mortgage Loan Cut-off Date As-Is LTV Ratio | Recalculated Attribute | None |
| 272 | Mortgage Loan Commitment Maturity Date Stabilized LTV Ratio | Recalculated Attribute | None |
| 273 | Collateral Interest Cut-off Date As-Is LTV Ratio | Recalculated Attribute | None |
| 274 | Collateral Interest Commitment Maturity Date Stabilized LTV Ratio | Recalculated Attribute | None |
| 275 | Interest Accrual Basis | Loan Agreement | None |
| 276 | Interest Accrual Period Start | Loan Agreement | None |
| 277 | Interest Accrual Period End | Loan Agreement | None |
| 278 | Index Rounding Factor | Loan Agreement | None |
| 279 | Lookback Period | Loan Agreement | None |
| 280 | Single-Tenant (Y/N) | Underwriting File | None |
| 281 | Property Manager | Management Agreement | None |
| 282 | Largest Tenant Name | Underwriting File | None |
| 283 | Largest Tenant Square Feet | Underwriting File | None |
| 284 | Largest Tenant Square Feet % | Recalculated Attribute | None |
| 285 | Largest Tenant Expiration Date | Underwriting File | None |
| 286 | 2nd Largest Tenant Name | Underwriting File | None |
| 287 | 2nd Largest Tenant Square Feet | Underwriting File | None |
| 288 | 2nd Largest Tenant Square Feet % | Recalculated Attribute | None |
| 289 | 2nd Largest Tenant Expiration Date | Underwriting File | None |
| 290 | 3rd Largest Tenant Name | Underwriting File | None |
| 291 | 3rd Largest Tenant Square Feet | Underwriting File | None |
| 292 | 3rd Largest Tenant Square Feet % | Recalculated Attribute | None |
| 293 | 3rd Largest Tenant Expiration Date | Underwriting File | None |
| 294 | 4th Largest Tenant Name | Underwriting File | None |
| 295 | 4th Largest Tenant Square Feet | Underwriting File | None |
| 296 | 4th Largest Tenant Square Feet % | Recalculated Attribute | None |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 16 |
| # | Specified Attribute | Source Document (in order of priority) | Tolerance |
| 297 | 4th Largest Tenant Expiration Date | Underwriting File | None |
| 298 | 5th Largest Tenant Name | Underwriting File | None |
| 299 | 5th Largest Tenant Square Feet | Underwriting File | None |
| 300 | 5th Largest Tenant Square Feet % | Recalculated Attribute | None |
| 301 | 5th Largest Tenant Expiration Date | Underwriting File | None |
| 302 | Hotel Franchise | Franchise Agreement | None |
| 303 | Hotel Franchise Expiration Date | Franchise Agreement | None |
| 304 | Subordinate Debt Rate Floor | Recalculated Attribute | None |
| 305 | Subordinate Debt Rate Cap | Recalculated Attribute | None |
| 306 | Subordinate Debt Index Assumption | Recalculated Attribute | None |
| 307 | As-Is Appraised Value Type | Appraisal Report | None |
| 308 | Stabilized Appraised Value Type | Appraisal Report | None |
| 309 | Cut-off Date Total Debt Ann Debt Service ($) | Recalculated Attribute | None |
| 310 | Senior Participation Cut-off Date Balance | Recalculated Attribute | $0.01 |
| 311 | Senior Participation Balloon Payment ($) | Recalculated Attribute | $0.01 |
| 312 | Senior Participation Margin | Recalculated Attribute | None |
| 313 | Underwritten NCF Description | Underwriting File | None |
| 314 | Underwritten Stabilized NCF Description | Underwriting File | None |
| 315 | Appraisal Stabilized NCF Description | Underwriting File | None |
| 316 | Mortgage Loan Maturity Annual Debt Service (IO) ($) | Recalculated Attribute | None |
| 317 | Senior Participation Annual Debt Service | Recalculated Attribute | None |
| 318 | Senior Participation Annual Debt Service (Cap) | Recalculated Attribute | None |
| 319 | Senior Participation Maturity Annual Debt Service (P&I) ($) | Recalculated Attribute | None |
| 320 | Senior Participation Maturity Annual Debt Service (Cap) ($) | Recalculated Attribute | None |
| 321 | Senior Participation Cut-off Date Interest Rate | Recalculated Attribute | None |
| 322 | Amortization Type During Initial Term Description | Loan Agreement | None |
| 323 | Control | Company Provided Attribute | None |
| (1) | For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Meridian City South”, we were instructed by the representatives of the Company to use Engineering Report for the purposes of performing Specified Attribute 9. |
| (2) | For the Mortgaged Properties identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Tabler Station”, “Madison Park”, “Clarius Park Building 2” and “East Atlanta Logistics Center” securing the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “IP Capital Partners Two-Pack” and “GoodHomes Arlington”, we were instructed by the representatives of the Company to use Appraisal Report for the purposes of performing Specified Attribute 18. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 17 |
| (3) | For the Mortgaged Properties identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Tabler Station”, “Madison Park”, “Clarius Park Building 2” and “East Atlanta Logistics Center” securing the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “IP Capital Partners Two-Pack” and “GoodHomes Arlington”, we were instructed by the representatives of the Company to use Appraisal Report for the purposes of performing Specified Attribute 19. |
| (4) | For the Mortgage Loan Assets identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “RPM Portfolio” and “Brentwood Downs”, we were instructed by the representatives of the Company to use servicer's payment history for the purposes of performing Specified Attribute 25. |
| (5) | For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Fossil Creek Portfolio”, we were instructed by the representatives of the Company to use Settlement Statement for the purposes of performing Specified Attribute 29. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 18 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 27 | Mortgage Loan Commitment Original Balance / Unit ($) |
For the Mortgage Loan Assets, the quotient of (i) Mortgage Loan Commitment
Original Balance ($) and (ii) Number of Units. For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Commitment
Original Balance / Unit ($) is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data
File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 19 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 31 | Mortgage Loan Cut-off Date Balance / Unit ($) |
For the Mortgage Loan Assets, the quotient of (i) Mortgage Loan Cut-off
Date Balance ($) and (ii) Number of Units. For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Cut-off
Date Balance / Unit ($) is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File
with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgaged Properties identified on the Final Data File with a Collateral
Interest/Mortgaged Property Name of “District Square”, “District Lofts” and “Phase III Retail”, the
quotient of (i) Mortgage Loan Cut-off Date Balance ($) and (ii) Number of Units. |
| 34 | Mortgage Loan Balloon Balance ($) |
For the Mortgage Loan Assets, sum of (i) Mortgage Loan Cut-off Date Balance
($) and (ii) Mortgage Loan Future Funding Participation Cut-off Date Unfunded Balance ($). Mortgage Loan Cut-off Date Balance ($), Mortgage Loan Cut-off Date Interest
Rate, Interest Accrual Basis, First Payment Date, Initial Maturity Date or Anticipated Repayment Date, Initial IO Period, Mortgage Loan
Annual Debt Service Payment (P&I) ($) and amortization term (as set forth in the Loan Agreement for such Mortgage Loan Asset). |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 20 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 35 | Mortgage Loan Balloon Balance / Unit ($) |
For the Mortgage Loan Assets, the quotient of (i) Mortgage Loan Balloon
Balance ($) and (ii) Number of Units. For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Balloon
Balance / Unit ($) is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with
a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| 36 | Mortgage Loan Annual Debt Service Payment (IO) ($) |
For the Mortgage Loan Assets, the product of (A) Mortgage Loan Cut-off Date
Balance ($), (B) Mortgage Loan Cut-off Date Interest Rate and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Annual Debt Service Payment (IO) ($) for each such mortgaged property is set equal to blank. |
| 37 | Mortgage Loan Annual Debt Service Payment (P&I) ($) | For the Mortgage Loan Assets, set equal to Mortgage Loan Annual Debt Service Payment (IO) ($). For the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, using the standard Excel payment function, we recalculated the Mortgage Loan Annual Debt Service Payment (P&I) ($) based on Mortgage Loan Cut-off Date Balance ($), Mortgage Loan Cut-off Date Interest Rate and amortization term (as set forth in the Loan Agreement). For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Annual Debt Service Payment (P&I) ($) for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 21 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 38 | Mortgage Loan Annual Debt Service Payment (Cap) ($) |
For the Mortgage Loan Assets, the product of (A) Mortgage Loan Cut-off Date Balance ($), (B) Mortgage Loan Rate Cap and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Annual Debt Service Payment (Cap) ($) for each such mortgaged property is set equal to blank. |
| 39 | Mortgage Loan Maturity Annual Debt Service (P&I) ($) |
For the Mortgage Loan Assets, the product of (A) Mortgage Loan Balloon Balance
($), (B) Mortgage Loan Cut-off Date Interest Rate and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Maturity Annual Debt Service (P&I) ($) for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 22 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 40 | Mortgage Loan Maturity Annual Debt Service (Cap) ($) |
For the Mortgage Loan Assets, the product of (A) Mortgage Loan Balloon Balance
($), (B) Mortgage Loan Rate Cap and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Maturity Annual Debt Service (Cap) ($) for each such mortgaged property is set equal to blank. |
| 42 | Aggregate Collateral Interest Cut-off Date Balance % | Quotient of (i) Collateral Interest Cut-off Date Balance ($) and (ii) aggregate Collateral Interest Cut-off Date Balance ($) for all the Mortgage Loan Assets. |
| 43 | Collateral Interest Balloon Balance ($) | For the Mortgage Loan Assets, set equal to Collateral Interest Cut-off Date Balance ($). For the Mortgage Loan Asset, identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the quotient of (i) the product of (A) Collateral Interest Cut-off Date Balance ($) and (B) Mortgage Loan Balloon Balance ($) and (ii) Mortgage Loan Cut-off Date Balance ($). For the Mortgaged Properties, identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Propst Promenade”, “The Forum at Gateways” and “Wilson Square Shopping Center”, the quotient of (i) the product of (A) Collateral Interest Cut-off Date Balance ($) and (B) Mortgage Loan Balloon Balance ($) and (ii) Mortgage Loan Cut-off Date Balance ($). |
| 44 | Collateral Interest Future Funding Participation Cut-off Date Unfunded Balance ($) | For the Mortgage Loan Assets, difference between (i) Collateral Interest Cut-off Date Balance ($) and (ii) Collateral Interest Balloon Balance ($). For the Mortgage Loan Asset, identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Collateral Interest Future Funding Participation Cut-off Date Unfunded Balance ($) is set equal to 0. For the Mortgaged Properties, identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Propst Promenade”, “The Forum at Gateways” and “Wilson Square Shopping Center”, the Collateral Interest Future Funding Participation Cut-off Date Unfunded Balance ($) is set equal to 0. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 23 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 45 | Collateral Interest Annual Debt Service Payment (IO) ($) |
For the Mortgage Loan Assets, the quotient of (i) the product of (A) Collateral
Interest Cut-off Date Balance ($) and (B) Mortgage Loan Annual Debt Service Payment (IO) ($) and (ii) Mortgage Loan Cut-off Date Balance
($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Annual Debt Service Payment (IO) ($) for each such mortgaged property is set equal to blank. |
| 46 | Collateral Interest Annual Debt Service Payment (P&I) ($) | For the Mortgage Loan Assets, is set equal to Collateral Interest Annual Debt Service Payment (IO) ($). For the Mortgage Loan Asset, identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the quotient of (i) the product of (A) Collateral Interest Cut-off Date Balance ($) and (B) Mortgage Loan Annual Debt Service Payment (P&I) ($) and (ii) Mortgage Loan Cut-off Date Balance ($). For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Annual Debt Service Payment (P&I) ($) for each such mortgaged property is set equal to blank. |
| 47 | Collateral Interest Annual Debt Service Payment (Cap) ($) |
For the Mortgage Loan Assets, the quotient of (i) the product of (A) Collateral
Interest Cut-off Date Balance ($) and (B) Mortgage Loan Annual Debt Service Payment (Cap) ($) and (ii) Mortgage Loan Cut-off Date Balance
($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Annual Debt Service Payment (Cap) ($) for each such mortgaged property is set equal to blank. |
| 48 | Pari Passu Funded Amount | For the Mortgage Loan Assets, the difference between (i) Mortgage Loan Cut-off Date Balance ($) and (ii) the sum of (A) Collateral Interest Cut-off Date Balance ($) and (B) Junior Participation Cut-off Date Balance. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the difference between (i) Mortgage Loan Cut-off Date Balance ($) and (ii) the sum of (A) Collateral Interest Cut-off Date Balance ($) and (B) the product of (x) Junior Participation Cut-off Date Balance for such portfolio’s Mortgage Loan Asset and (y) the quotient of (a) Collateral Interest Cut-off Date Balance ($) (b) Collateral Interest Cut-off Date Balance ($) for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 24 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 52 | Index Rate Assumption |
For the Mortgage Loan Assets, the Index Rate Assumption is calculated by
applying the Index Rounding Factor on an assumed provided index of “3.67529%”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Index Rate Assumption is set to equal blank. |
| 54 | Mortgage Loan Cut-off Date Interest Rate |
For the Mortgage Loan Assets, the greater of (i) the sum of (A) Mortgage Loan Margin and (B) Index Rate Assumption and (ii) Mortgage Loan Rate Floor.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Cut-off Date Interest Rate for each such mortgaged property is set equal to blank. |
| 57 | Mortgage Loan Rate Cap |
For the Mortgage Loan Assets, the sum of (i) Mortgage Loan Index Cap and
(ii) Mortgage Loan Margin.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Rate Cap for each such mortgaged property is set equal to blank. |
| 58 | Mortgage Loan Rate Floor |
For the Mortgage Loan Assets, the sum of (i) Mortgage Loan Margin and (ii) Mortgage Loan Index Floor.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Rate Floor for each such mortgaged property is set equal to blank. |
| 64 | Collateral Interest Cut-off Date Interest Rate | Set equal to Mortgage Loan Cut-off Date Interest Rate. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 25 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 69 | Junior Participation Cut-off Date Interest Rate |
For the Mortgage
Loan Assets, the sum of (A) Junior Participation Cut-off Date Margin and (B) Index Rate Assumption.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Junior Participation Cut-off Date Interest Rate for each such mortgaged property is set equal to blank. |
| 72 | Initial IO Period (Remaining) |
For the Mortgage Loan Assets, the difference between (i) Initial IO Period and (ii) Seasoning (months).
For the Mortgaged Properties indicated in the Final Data File as securing part of a portfolio, the Initial IO Period (Remaining) for each such mortgaged property is set equal to blank. |
| 73 | Original Loan Term (Initial) |
For the Mortgage Loan Assets, the count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and inclusive of (ii) Initial Maturity Date or Anticipated Repayment Date.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Original Loan Term (Initial) for each such mortgaged property is set equal to blank. |
| 74 | Original Loan Term (Remaining) |
For the Mortgage Loan Assets, the difference between (i) Original Loan Term (Initial) and (ii) Seasoning (months).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Original Loan Term (Remaining) for each such mortgaged property is set equal to blank. |
| 77 | Seasoning (months) |
For the Mortgage Loan Assets, the count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and inclusive of (ii) Cut-off Date. In no event will Seasoning (months) be less than 0.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Seasoning (months) for each such mortgaged property is set equal to blank. |
| 85 | First Extension Floor |
For the Mortgage Loan Assets, set equal to Mortgage Loan Index Floor, if applicable.
For the Mortgaged Properties indicated in the Final Data File as securing part of a portfolio, the First Extension Floor for each such mortgaged property is set equal to blank. |
| 90 | Second Extension Floor |
For the Mortgage Loan Assets, set equal to Mortgage Loan Index Floor, if applicable.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Second Extension Floor for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 26 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 95 | Third Extension Floor |
For the Mortgage Loan Assets, set equal to Mortgage Loan Index Floor, if applicable.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Third Extension Floor for each such mortgaged property is set equal to blank. |
| 97 | Fully Extended Loan Term (Initial) |
For the Mortgage Loan Assets, the count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and inclusive of (ii) Fully Extended Maturity Date.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Fully Extended Loan Term (Initial) for each such mortgaged property is set equal to blank. |
| 98 | Fully Extended Loan Term (Remaining) |
For the Mortgage Loan Assets, the difference between (i) Fully Extended Loan Term (Initial) and (ii) Seasoning (months).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Fully Extended Loan Term (Remaining) for each such mortgaged property is set equal to blank. |
| 124 | Mortgage Loan Most Recent NOI DSCR |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NOI and (ii) Mortgage Loan Annual Debt Service Payment (IO) ($), if applicable.
For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Most Recent NOI DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgage
Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”,
the Mortgage Loan Most Recent NOI DSCR is calculated as the quotient of (i) Most Recent NOI and (ii) Mortgage Loan Annual Debt Service
Payment (P&I) ($). |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 27 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 125 | Mortgage Loan Most Recent NCF DSCR |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NCF and (ii) Mortgage Loan Annual Debt Service Payment (IO) ($), if applicable.
For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Most Recent NCF DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Mortgage Loan Most Recent NCF DSCR is calculated as the quotient of (i) Most Recent NCF and (ii) Mortgage Loan Annual Debt Service Payment (P&I) ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Most Recent NCF DSCR for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 126 | Cut-off Date Mortgage Loan Most Recent NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NOI and (ii)
Mortgage Loan Cut-off Date Balance ($), if applicable. For the Trylon Tower Mortgage and Mezzanine Splits, the Cut-off Date Mortgage Loan Most Recent NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Cut-off Date Mortgage Loan Most Recent NOI Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 28 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 127 | Cut-off Date Mortgage Loan Most Recent NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NCF and (ii) Mortgage Loan Cut-off Date Balance ($), if applicable.
|
| 128 | Collateral Interest Most Recent NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Most Recent NOI and (2)
the product of (A) Mortgage Loan Annual Debt Service Payment (IO) ($), if applicable, and (B) the quotient of (i) Senior Participation
Cut-off Date Balance and (ii) Mortgage Loan Cut-off Date Balance ($). For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Most Recent NOI DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Collateral Interest Most Recent NOI DSCR is calculated as the quotient of (i) Most Recent NOI and (ii) the product of (A) Mortgage Loan Annual Debt Service Payment (P&I) ($), if applicable, and (B) the quotient of (i) Senior Participation Cut-off Date Balance and (ii) Mortgage Loan Cut-off Date Balance ($).
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 29 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 129 | Collateral Interest Most Recent NCF DSCR |
For the Mortgage Loan Assets, the quotient of (1) Most Recent NCF and (2)
the product of (A) the aggregate Mortgage Loan Annual Debt Service Payment (IO) ($), if applicable, and (B) the quotient of (i) Senior
Participation Cut-off Date Balance and (ii) the aggregate Mortgage Loan Cut-off Date Balance ($).
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Collateral Interest Most Recent NCF DSCR is calculated as the quotient of (i) Most Recent NCF and (ii) the product of (A) Mortgage Loan Annual Debt Service Payment (P&I) ($), if applicable, and (B) the quotient of (i) Senior Participation Cut-off Date Balance and (ii) Mortgage Loan Cut-off Date Balance ($).
In no event will Collateral Interest Most Recent NCF DSCR be less than 0.00. |
| 130 | Cut-off Date Collateral Interest Most Recent NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NOI and (ii)
Senior Participation Cut-off Date Balance, if applicable. For the Trylon Tower Mortgage and Mezzanine Splits, the Cut-off Date Collateral Interest Most Recent NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 30 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 131 | Cut-off Date Collateral Interest Most Recent NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Most Recent NCF and (ii) Senior Participation Cut-off Date Balance, if applicable.
In no event will
Cut-off Date Collateral Interest Most Recent NCF Debt Yield be less than 0.0%. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Cut-off Date Collateral Interest Most Recent NCF Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 31 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 140 | Mortgage Loan Cut-off Date Balance Underwritten NOI DSCR |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NOI ($) and
(ii) the lesser of (A) Mortgage Loan Annual Debt Service Payment (IO) ($) or (B) Mortgage Loan Annual Debt Service Payment (Cap), If applicable.
For the Mortgage Loan Assets identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gateway Apartments”,
“Flow Fort Lauderdale”, “The Waypoint Florida Portfolio”, “Lusso Apartments”, “Rewind at Crest”,
“Istana at Wurzbach”, “Vue at Sonoma Verde”, “Render Legacy Trail”, “Trylon Tower”, “Enzo
Apartments”, “Livano Pflugerville”, “Kinship”, “Ensley”, “Landing 36”, “Park
West Village”, “The Joinery Phase II”, “Gordon Logistics Center”, “Ardmore Meadows”, “Parker
Apartments”, “Evolve at the Pines”, “Enduro Townhomes”, “The Gin Mill”, “Livano Wildwood”,
“Magnolia at Powell”, “Madison Park”, “The Pomeroy”, “Landmark at Crowley”, “Avenues
at Carrollton”, “Lakeridge Logistics Center”, “Fossil Creek Portfolio”, “The Noda Apartments”,
“Soluna”, “Turner Industrial”, “IP Capital Partners Two-Pack”, “Interchange Industrial”,
“Rosedale Industrial Park”, “Mid-Florida Logistics South - Building I” and “Clovis Barker Industrial”
we were instructed by the representatives of the Company to assume that the Mortgage Loan Cut-off Date Balance Underwritten NOI DSCR for
each such Mortgage Loan Asset is equal to 1.00.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Mortgage Loan Cut-off Date Balance Underwritten NOI DSCR is calculated as the quotient of (i) Underwritten NOI and (ii) Mortgage Loan Annual Debt Service Payment (P&I) ($).
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 32 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 141 | Mortgage Loan Cut-off Date Balance Underwritten NCF DSCR |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NCF ($) and (ii) the lesser of (A) Mortgage Loan Annual Debt Service Payment (IO) ($) or (B) Mortgage Loan Annual Debt Service Payment (Cap), if applicable. For the Mortgage Loan Assets identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gateway Apartments”, “Flow Fort Lauderdale”, “The Waypoint Florida Portfolio”, “Lusso Apartments”, “Rewind at Crest”, “Istana at Wurzbach”, “Vue at Sonoma Verde”, “Render Legacy Trail”, “Trylon Tower”, “Enzo Apartments”, “Livano Pflugerville”, “Kinship”, “Ensley”, “Landing 36”, “Park West Village”, “The Joinery Phase II”, “Gordon Logistics Center”, “Ardmore Meadows”, “Parker Apartments”, “Evolve at the Pines”, “Enduro Townhomes”, “The Gin Mill”, “Livano Wildwood”, “Magnolia at Powell”, “Madison Park”, “The Pomeroy”, “Landmark at Crowley”, “Avenues at Carrollton”, “Lakeridge Logistics Center”, “Fossil Creek Portfolio”, “The Noda Apartments”, “Soluna”, “Turner Industrial”, “IP Capital Partners Two-Pack”, “Interchange Industrial”, “Rosedale Industrial Park”, “Mid-Florida Logistics South - Building I” and “Clovis Barker Industrial”, we were instructed by the representatives of the Company to assume that the Mortgage Loan Cut-off Date Balance Underwritten NCF DSCR for each such Mortgage Loan Asset is equal to 1.00.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Mortgage Loan Cut-off Date Balance Underwritten NCF DSCR is calculated as the quotient of (i) Underwritten NCF and (ii) Mortgage Loan Annual Debt Service Payment (P&I) ($).
|
| 142 | Mortgage Loan Cut-off Date Balance Underwritten NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NOI ($) and
(ii) Mortgage Loan Cut-off Date Balance ($),if applicable. For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Cut-off Date Balance Underwritten NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 33 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 143 | Mortgage Loan Cut-off Date Balance Underwritten NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NCF ($) and (ii) Mortgage Loan Cut-off Date Balance ($),if applicable.
For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Cut-off Date Balance Underwritten NCF Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 34 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 144 | Collateral Interest Cut-off Date Balance Underwritten NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Underwritten NOI ($) and
(2) the product of (i) the lesser of (A) Mortgage Loan Annual Debt Service Payment (IO) ($) or (B) Mortgage Loan Annual Debt Service Payment
(Cap) ($), if applicable, and (ii) the quotient of (a) Senior Participation Cut-off Date Balance and (b) Mortgage Loan Cut-off Date Balance
($). For the Mortgage Loan Assets identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gateway
Apartments”, “Flow Fort Lauderdale”, “The Waypoint Florida Portfolio”, “Lusso Apartments”, “Rewind
at Crest”, “Istana at Wurzbach”, “Vue at Sonoma Verde”, “Render Legacy Trail”, “Trylon
Tower”, “Enzo Apartments”, “Livano Pflugerville”, “Kinship”, “Ensley”, “Landing
36”, “Park West Village”, “The Joinery Phase II”, “Gordon Logistics Center”, “Ardmore
Meadows”, “Parker Apartments”, “Evolve at the Pines”, “Enduro Townhomes”, “The Gin Mill”,
“Livano Wildwood”, “Magnolia at Powell”, “Madison Park”, “The Pomeroy”, “Landmark
at Crowley”, “Avenues at Carrollton”, “Lakeridge Logistics Center”, “Fossil Creek Portfolio”,
“The Noda Apartments”, “Soluna”, “Turner Industrial”, “IP Capital Partners Two-Pack”,
“Interchange Industrial”, “Rosedale Industrial Park”, “Mid-Florida Logistics South - Building I” and
“Clovis Barker Industrial”, we were instructed by the representatives of the Company to assume that the Collateral Interest
Cut-off Date Balance Underwritten NOI DSCR for each such Mortgage Loan Asset is equal to 1.00. For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Cut-off Date Balance Underwritten NOI DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Collateral Interest Cut-off Date Balance Underwritten NOI DSCR is calculated as the quotient of (i) Underwritten NOI and (ii) the product of (A) Mortgage Loan Annual Debt Service Payment (P&I) ($) and (B) the quotient of (i) Senior Participation Cut-off Date Balance and (ii) Mortgage Loan Cut-off Date Balance ($).
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 35 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 145 | Collateral Interest Cut-off Date Balance Underwritten NCF DSCR |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NCF ($) and
(2) the product of (i) the lesser of (A) Mortgage Loan Annual Debt Service Payment (IO) ($) or (B) Mortgage Loan Annual Debt Service Payment
(Cap) ($), if applicable, and (ii) the quotient of (a) Senior Participation Cut-off Date Balance and (b) Mortgage Loan Cut-off Date Balance
($), if applicable. For the Mortgage Loan Assets identified in the Final Data File with a Collateral Interest/Mortgaged Property Name
of “Gateway Apartments”, “Flow Fort Lauderdale”, “The Waypoint Florida Portfolio”, “Lusso Apartments”,
“Rewind at Crest”, “Istana at Wurzbach”, “Vue at Sonoma Verde”, “Render Legacy Trail”,
“Trylon Tower”, “Enzo Apartments”, “Livano Pflugerville”, “Kinship”, “Ensley”,
“Landing 36”, “Park West Village”, “The Joinery Phase II”, “Gordon Logistics Center”,
“Ardmore Meadows”, “Parker Apartments”, “Evolve at the Pines”, “Enduro Townhomes”, “The
Gin Mill”, “Livano Wildwood”, “Magnolia at Powell”, “Madison Park”, “The Pomeroy”,
“Landmark at Crowley”, “Avenues at Carrollton”, “Lakeridge Logistics Center”, “Fossil Creek
Portfolio”, “The Noda Apartments”, “Soluna”, “Turner Industrial”, “IP Capital Partners
Two-Pack”, “Interchange Industrial”, “Rosedale Industrial Park”, “Mid-Florida Logistics South - Building
I” and “Clovis Barker Industrial”, we were instructed by the representatives of the Company to assume that the Collateral
Interest Cut-off Date Balance Underwritten NCF DSCR for each such Mortgage Loan Asset is equal to 1.00.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Collateral Interest Cut-off Date Balance Underwritten NCF DSCR is calculated as the quotient of (i) Underwritten NCF and (ii) the product of (A) Mortgage Loan Annual Debt Service Payment (P&I) ($) and (B) the quotient of (i) Senior Participation Cut-off Date Balance and (ii) Mortgage Loan Cut-off Date Balance ($).
|
| 146 | Collateral Interest Cut-off Date Balance Underwritten NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NOI ($) and
(ii) Senior Participation Cut-off Date Balance, if applicable. For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Cut-off Date Balance Underwritten NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 36 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 147 | Collateral Interest Cut-off Date Balance Underwritten NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NCF ($) and
(ii) Senior Participation Cut-off Date Balance, if applicable.
|
| 156 | Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Underwritten Stabilized
NOI ($) and (2) the lesser of (x) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (y) Mortgage Loan Maturity Annual Debt Service
(Cap) ($). For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “The
Gin Mill”, we were instructed by the representatives of the Company to assume that the Fully Funded Mortgage Loan Underwritten Stabilized
NOI DSCR is equal to 1.00.
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 37 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 157 | Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR |
For the Mortgage Loan Assets, the quotient of (1) Underwritten Stabilized NCF ($) and (2) the lesser of (x) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (y) Mortgage Loan Maturity Annual Debt Service (Cap) ($). For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “The Gin Mill”, we were instructed by the representatives of the Company to assume that the Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR is equal to 1.00.
For the Trylon Tower Mortgage and Mezzanine Splits, the Fully Funded Mortgage
Loan Underwritten Stabilized NCF DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the
Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. |
| 158 | Fully Funded Mortgage Loan Underwritten Stabilized NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten Stabilized NOI ($) and (ii) Mortgage Loan Balloon Balance ($).
|
| 159 | Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten Stabilized NCF ($) and (ii) Mortgage Loan Balloon Balance ($).
For the Trylon Tower Mortgage and Mezzanine Splits, the Fully Funded Mortgage
Loan Underwritten Stabilized NCF Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified
on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 38 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 160 | Collateral Interest Underwritten Stabilized NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Underwritten Stabilized
NOI ($) and (2) the product of (i) the lesser of (A) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (B) Mortgage Loan Annual
Debt Service Payment (Cap) ($) and (ii) the quotient of (a) Senior Participation Balloon Payment ($) and (b) Mortgage Loan Balloon Balance
($). For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “The Gin
Mill”, we were instructed by the representatives of the Company to assume that the Collateral Interest Underwritten Stabilized NOI
DSCR is equal to 1.00.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Underwritten Stabilized NOI DSCR for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 161 | Collateral Interest Underwritten Stabilized NCF DSCR |
For the Mortgage Loan Assets, the quotient of (1) Underwritten Stabilized
NCF ($) and (2) the product of (i) the lesser of (A) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (B) Mortgage Loan Annual
Debt Service Payment (Cap) ($) and (ii) the quotient of (a) Senior Participation Balloon Payment ($) and (b) Mortgage Loan Balloon Balance
($). For the Mortgage Loan Asset identified in the Final Data File with a Collateral Interest/Mortgaged Property Name of “The Gin
Mill”, we were instructed by the representatives of the Company to assume that the Collateral Interest Underwritten Stabilized NCF
DSCR is equal to 1.00.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Underwritten Stabilized NCF DSCR for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 39 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 162 | Collateral Interest Underwritten Stabilized NOI Debt Yield | For the Mortgage Loan Assets, the quotient of (i) Underwritten Stabilized NOI ($) and (ii) Senior Participation Balloon Payment ($). For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Underwritten Stabilized NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Underwritten Stabilized NOI Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 163 | Collateral Interest Underwritten Stabilized NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Underwritten Stabilized
NCF ($) and (ii) Senior Participation Balloon Payment ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Underwritten Stabilized NCF Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 172 | Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Appraisal Stabilized NOI ($) and (2) the product of (A) the lesser of (x) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (y) Mortgage Loan Maturity Annual Debt Service (Cap) ($).
For the Trylon Tower
Mortgage and Mezzanine Splits, the Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR is set equal to the corresponding amount recomputed
for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 40 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 173 | Fully Funded Mortgage Loan Appraisal Stabilized NCF DSCR |
For the Mortgage Loan Assets, the quotient of (1) Appraisal Stabilized NCF
($) and (2) the product of (A) the lesser of (x) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (y) Mortgage Loan Maturity
Annual Debt Service (Cap) ($).
|
| 174 | Fully Funded Mortgage Loan Appraisal Stabilized NOI Debt Yield |
For all other Mortgage Loan Assets, the quotient of (i) Appraisal Stabilized
NOI ($) and (ii) Mortgage Loan Balloon Balance ($).
|
| 175 | Fully Funded Mortgage Loan Appraisal Stabilized NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Appraisal Stabilized NCF ($) and (ii) Mortgage Loan Balloon Balance ($).
|
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 41 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 176 | Collateral Interest Appraisal Stabilized NOI DSCR |
For the Mortgage Loan Assets, the quotient of (1) Appraisal Stabilized NOI ($) and (2) the product of (i) the lesser of (A) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (B) Mortgage Loan Annual Debt Service Payment (Cap) ($) and (ii) the quotient of (a) Senior Participation Balloon Payment ($) and (b) Mortgage Loan Balloon Balance ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Appraisal Stabilized NOI DSCR for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 177 | Collateral Interest Appraisal Stabilized NCF DSCR |
For the Mortgage Loan Assets, the quotient of (1) Appraisal Stabilized NCF ($) and (2) the product of (i) the lesser of (A) Mortgage Loan Maturity Annual Debt Service (P&I) ($) or (B) Mortgage Loan Annual Debt Service Payment (Cap) ($) and (ii) the quotient of (a) Senior Participation Balloon Payment ($) and (b) Mortgage Loan Balloon Balance ($).
For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Appraisal Stabilized NCF DSCR is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Appraisal Stabilized NCF DSCR for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 42 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 178 | Collateral Interest Appraisal Stabilized NOI Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Appraisal Stabilized NOI ($) and (ii) Senior Participation Balloon Payment ($).
For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Appraisal Stabilized NOI Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Appraisal Stabilized NOI Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 179 | Collateral Interest Appraisal Stabilized NCF Debt Yield |
For the Mortgage Loan Assets, the quotient of (i) Appraisal Stabilized NCF ($) and (ii) Senior Participation Balloon Payment ($).
For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Appraisal Stabilized NCF Debt Yield is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Appraisal Stabilized NCF Debt Yield for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 185 | Affiliated Sponsor (Y/N) | A Recalculated Attribute in which borrower relationships were identified based on shared Sponsor names. Affiliated Sponsor (Y/N) groups were then assigned numbers based on the descending order of aggregate Collateral Interest Cutoff Date Balance ($) of the related group (starting with Group 1). For the Trylon Tower Mortgage and Mezzanine Splits, the Affiliated Sponsor (Y/N) is set equal to blank. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Affiliated Sponsor (Y/N) for each such mortgaged property is set equal to blank. |
| 243 | Subordinate Debt Interest Rate |
For the Mortgage Loan Assets with the Subordinate Debt Rate Type as “Floating”,
the greater of (i) the sum of (a) Subordinate Debt Margin and (b) Subordinate Debt Index Assumption and (ii) Subordinate Debt Rate Floor. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Subordinate Debt Interest Rate for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 43 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 245 | Total Debt Cut-off Date Balance ($) |
For the Mortgage Loan Assets, the sum of (i) Mortgage Loan Cut-off Date
Balance ($) and (ii) Subordinate Debt Cut-off Date Balance.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Total Debt Cut-off Date Balance ($) for each such mortgaged property is set equal to blank. |
| 246 | Subordinate Debt Annual Debt Service Payment (P&I) ($) |
For the Mortgage Loan Assets, the product of (A) Subordinate Debt Cut-off Date Balance ($), (B) greater of (i) Subordinate Debt Interest Rate (ii) Subordinate Debt Rate Floor and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Subordinate Debt Annual Debt Service Payment (P&I) ($) for each such mortgaged property is set equal to blank. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 247 | Subordinate Debt Annual Debt Service at Cap ($) |
For the Mortgage Loan Assets, the product of (A) Subordinate Debt Cut-off Date Balance ($), (B) Subordinate Debt Rate Cap and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Subordinate Debt Annual Debt Service at Cap ($) for each such mortgaged property is set equal to blank. |
| 255 | Total Debt Cut-off Date As-Is LTV |
For the Mortgage Loan Assets, the quotient of (i) Total Debt Cut-off Date Balance ($) and (ii) As-Is Appraised Value ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Total Debt Cut-off Date As-Is LTV for each such mortgaged property is set equal to blank. |
| www.pwc.com | PricewaterhouseCoopers LLP 300 Madison Avenue, New York, NY 10017 T: 646-471-3000 | 45 |
| # | Specified Attribute | Recalculated Attribute Methodology |
| 256 | Total Debt Cut-off Date UW NCF DSCR |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NCF ($) and
(ii) the lesser of (A) Mortgage Loan Annual Debt Service Payment (IO) ($) or (B) Mortgage Loan Annual Debt Service Payment (Cap) ($).
For the Mortgage Loan Assets identified in the Final Data File with a Subordinate Debt (Y/N) value of “Y,” we were instructed
by the representatives of the Company to add to clause (ii) of this procedure the lesser of (a) Subordinate Debt Annual Debt Service Payment
(P&I) ($) or (b) Subordinate Debt Annual Debt Service at Cap ($). For the Mortgage Loan Assets identified on the Final Data File with
a Collateral Interest/Mortgaged Property Name of “Istana at Wurzbach”, “Enduro Townhomes”, “Springhill Suites
Tampa”, “Magnolia at Powell”, “The Pomeroy” and “Soluna”, we were instructed by the representatives
of the Company to assume that the Total Debt Cut-off Date UW NCF DSCR for each such Mortgage Loan Asset is equal to 1.00.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral
Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Total Debt Cut-off Date UW NCF DSCR is calculated as the
quotient of (i) Underwritten NCF ($) and (ii) the sum of (a) Mortgage Loan Annual Debt Service Payment (P&I) ($) and (b) Subordinate
Debt Annual Debt Service Payment (P&I) ($). |
| 257 | Total Debt Cut-off Date UW NOI DY |
For the Mortgage Loan Assets, the quotient of (i) Underwritten NOI ($) and
(ii) Total Debt Cut-off Date Balance ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Total Debt Cut-off Date UW NOI DY for each such mortgaged property is set equal to blank. |
| 263 |
Remaining Call Protection (Cut-off Date)
|
For the Mortgage Loan Assets, the Initial Prepayment Provision adjusted by the Seasoning (months). For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Remaining Call Protection (Cut-off Date) for each such mortgaged property is set equal to blank. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 271 | Mortgage Loan Cut-off Date As-Is LTV Ratio |
For the Mortgage Loan Assets, the quotient of (i) Mortgage Loan Cut-off
Date Balance ($) and (ii) As-Is Appraised Value ($). For the Trylon Tower Mortgage and Mezzanine Splits, the Mortgage Loan Cut-off
Date As-Is LTV Ratio is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File
with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Cut-off Date As-Is LTV Ratio for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 272 | Mortgage Loan Commitment Maturity Date Stabilized LTV Ratio |
For the Mortgage Loan Assets, the quotient of (i) Mortgage Loan Balloon
Balance ($) and (ii) Stabilized Appraised Value ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Mortgage Loan Commitment Maturity Date Stabilized LTV Ratio for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 273 | Collateral Interest Cut-off Date As-Is LTV Ratio |
For the Mortgage Loan Assets, the quotient of (i) Senior Participation Cut-off
Date Balance and (ii) As-Is Appraised Value ($).
|
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 274 | Collateral Interest Commitment Maturity Date Stabilized LTV Ratio | For the Mortgage Loan Assets, the quotient of (A) Senior Participation Balloon Payment ($) and (B) Stabilized Appraised Value ($). For the Trylon Tower Mortgage and Mezzanine Splits, the Collateral Interest Commitment Maturity Date Stabilized LTV Ratio is set equal to the corresponding amount recomputed for the Mortgage Loan Asset identified on the Final Data File with a Collateral Interest/Mortgaged Property Name of “Trylon Tower”. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Collateral Interest Commitment Maturity Date Stabilized LTV Ratio for each such mortgaged property is set equal to the corresponding amount recomputed for such portfolio’s Mortgage Loan Asset. |
| 284 | Largest Tenant Square Feet % | For the Mortgaged Properties, the quotient of (i) Largest Tenant Square Feet and (ii) Number of Units. This procedure was not performed for those Mortgaged Properties for which the Property Type for such Mortgaged Property, was equal to “Multifamily”, “Manufactured Housing” or “Hospitality” (as set forth on the Final Data File). For the Mortgage Loan Assets with a Largest Tenant Square Feet as blank, the Largest Tenant Square Feet % is set equal to blank. For the Trylon Tower Mortgage and Mezzanine Splits, the Largest Tenant Square Feet % is set equal to blank. |
| 288 | 2nd Largest Tenant Square Feet % | For the Mortgaged Properties, the quotient of (i) 2nd Largest Tenant Square Feet and (ii) Number of Units. This procedure was not performed for those Mortgaged Properties for which the Property Type for such Mortgaged Property, was equal to “Multifamily”, “Manufactured Housing” or “Hospitality” (as set forth on the Final Data File). For the Mortgage Loan Assets with a 2nd Largest Tenant Square Feet as blank, the 2nd Largest Tenant Square Feet % is set equal to blank. For the Trylon Tower Mortgage and Mezzanine Splits, the 2nd Largest Tenant Square Feet % is set equal to blank. |
| 292 | 3rd Largest Tenant Square Feet % |
For the Mortgaged Properties, the quotient of (i) 3rd Largest Tenant Square Feet and (ii) Number of Units. This procedure was not performed for those Mortgaged Properties for which the Property Type for such Mortgaged Property, was equal to “Multifamily”, “Manufactured Housing” or “Hospitality” (as set forth on the Final Data File). For the Mortgage Loan Assets with a 3rd Largest Tenant Square Feet as blank, the 3rd Largest Tenant Square Feet % is set equal to blank.
For the Trylon Tower Mortgage and Mezzanine Splits, the 3rd Largest Tenant Square Feet % is set equal to blank. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 296 | 4th Largest Tenant Square Feet % |
For the Mortgaged Properties, the quotient of (i) 4th Largest Tenant Square Feet and (ii) Number of Units. This procedure was not performed for those Mortgaged Properties for which the Property Type for such Mortgaged Property, was equal to “Multifamily”, “Manufactured Housing” or “Hospitality” (as set forth in the Final Data File). For the Mortgage Loan Assets with a 4th Largest Tenant Square Feet as blank, the 4th Largest Tenant Square Feet % is set equal to blank.
For the Trylon Tower Mortgage and Mezzanine Splits, the 4th Largest Tenant Square Feet % is set equal to blank. |
| 300 | 5th Largest Tenant Square Feet % |
For the Mortgaged Properties, the quotient of (i) 5th Largest Tenant Square Feet and (ii) Number of Units. This procedure was not performed for those Mortgaged Properties for which the Property Type for such Mortgaged Property, was equal to “Multifamily”, “Manufactured Housing” or “Hospitality” (as set forth in the Final Data File). For the Mortgage Loan Assets with a 5th Largest Tenant Square Feet as blank, the 5th Largest Tenant Square Feet % is set equal to blank.
For the Trylon Tower Mortgage and Mezzanine Splits, the 5th Largest Tenant Square Feet % is set equal to blank. |
| 304 | Subordinate Debt Rate Floor |
For the Mortgage Loan Assets, the sum of (i) Subordinate Debt Margin and (ii) Subordinate Debt Index Floor.
For the Mortgage Loan Assets with Subordinate Debt (Y/N) as “N” and Subordinate Debt Rate Type as “Fixed”, is set equal to “N/A”.
For the Mortgaged Properties indicated in the Final Data File as securing part of a portfolio, the Subordinate Debt Rate Floor for each such mortgaged property is set equal to blank. |
| 305 | Subordinate Debt Rate Cap |
For the Mortgage Loan Assets, the sum of (i) Subordinate Debt Margin and
(ii) Subordinate Debt Index Cap.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Subordinate Debt Rate Cap for each such mortgaged property is set equal to blank. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 306 | Subordinate Debt Index Assumption |
For the Mortgage Loan Assets, the Subordinate Debt Index Assumption is calculated
by applying the Index Rounding Factor as set forth in the Subordinate Debt Loan Agreement on an assumed provided index of “3.67529%”.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Subordinate Debt Index Assumption is set to equal blank. |
| 309 | Cut-off Date Total Debt Ann Debt Service ($) |
For the Mortgage Loan Assets, the sum of (i) Subordinate Debt Annual Debt
Service Payment (P&I) ($) and (ii) Mortgage Loan Annual Debt Service Payment (P&I) ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Cut-off Date Total Debt Ann Debt Service ($) for each such mortgaged property is set equal to blank. |
| 310 | Senior Participation Cut-off Date Balance | For the Mortgage Loan Assets, the difference between (i) Mortgage Loan Cut-off Date Balance ($) and (ii) Junior Participation Cut-off Date Balance. For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the difference between (i) Mortgage Loan Cut-off Date Balance ($) and (ii) the product of (x) Junior Participation Cut-off Date Balance for such portfolio’s Mortgage Loan Asset and (y) the quotient of (a) Collateral Interest Cut-off Date Balance ($) (b) Collateral Interest Cut-off Date Balance ($) for such portfolio’s Mortgage Loan Asset. |
| 311 | Senior Participation Balloon Payment ($) | For the Mortgage Loan Assets, the difference between (i) Mortgage Loan Balloon Balance ($) and (ii) Junior Participation Balloon Payment ($). For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the difference between (i) Mortgage Loan Balloon Balance ($) and (ii) the product of (x) Junior Participation Balloon Payment ($) for such portfolio’s Mortgage Loan Asset and (y) the quotient of (a) Collateral Interest Cut-off Date Balance ($) (b) Collateral Interest Cut-off Date Balance ($) for such portfolio’s Mortgage Loan Asset. |
| 312 | Senior Participation Margin | Set equal to Mortgage Loan Margin. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 316 | Mortgage Loan Maturity Annual Debt Service (IO) ($) |
For the Mortgage Loan Assets, the product of (A) Mortgage Loan Balloon Balance ($), (B) Mortgage Loan Cut-off Date Interest Rate and (C) 365/360.
For the Mortgage Loan Assets with Amortization Type During Initial Term as “Amortizing”, is set equal to “N/A”.
For the Mortgaged Properties indicated on the Final Data File as securing a part of a portfolio, the Mortgage Loan Maturity Annual Debt Service (IO) ($) for each such mortgaged property is set equal to blank. |
| 317 | Senior Participation Annual Debt Service |
For the Mortgage Loan Assets, the product of (A) Senior Participation Cut-off
Date Balance, (B) Senior Participation Cut-off Date Interest Rate and (C) 365/360.
For the Mortgaged Properties indicated on the Final Data File as securing a part of a portfolio, the Senior Participation Annual Debt Service for each such mortgaged property is set equal to blank. |
| 318 | Senior Participation Annual Debt Service (Cap) |
For the Mortgage Loan Assets, the product of (A) Senior Participation Cut-off
Date Balance, (B) the sum of (i) Senior Participation Margin and (ii) Mortgage Loan Index Cap and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Senior Participation Annual Debt Service (Cap) for each such mortgaged property is set equal to blank. |
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| # | Specified Attribute | Recalculated Attribute Methodology |
| 319 | Senior Participation Maturity Annual Debt Service (P&I) ($) |
For the Mortgage Loan Assets, the product of (A) Senior Participation Balloon
Payment ($), (B) Senior Participation Cut-off Date Interest Rate and (C) 365/360.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Senior Participation Maturity Annual Debt Service (P&I) ($) for each such mortgaged property is set equal to blank. |
| 320 | Senior Participation Maturity Annual Debt Service (Cap) ($) |
For the Mortgage Loan Assets, the product of (A) Senior Participation Balloon Payment ($), (B) the sum of (i) Senior Participation Margin and (ii) Mortgage Loan Index Cap and (C) 365/360.
For the Mortgage Loan Asset identified in the Final Data File with a Collateral
Interest/Mortgaged Property Name of “Gatlin Retail Portfolio”, the Senior Participation Maturity Annual Debt Service (Cap)
($) is set equal to Mortgage Loan Maturity Annual Debt Service (Cap) ($).
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Senior Participation Maturity Annual Debt Service (Cap) ($) for each such mortgaged property is set equal to blank. |
| 321 | Senior Participation Cut-off Date Interest Rate |
For the Mortgage Loan Assets, the greater of 1) sum of (i) Index Rate Assumption and (ii) Senior Participation Margin and 2) Mortgage Loan Rate Floor.
For the Mortgaged Properties indicated in the Final Data File as securing a part of a portfolio, the Senior Participation Cut-off Date Interest Rate for each such mortgaged property is set equal to blank. |
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| Collateral Interest Number | Specified Attribute |
| 4.00 | Occupancy (%); Occupancy Date |
| 19.06 | Property Type; Specific Property Type |
| 19.07 | Property Type; Specific Property Type |
| 41.00 | Hotel Franchise Expiration Date |
| 48.00 | Occupancy (%); Occupancy Date |
| 59.00 | Occupancy (%); Occupancy Date |
| 59.01 | Occupancy (%); Occupancy Date |
| 59.02 | Occupancy (%); Occupancy Date |
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