| FILED PURSUANT TO RULE 424(h) | ||
| REGISTRATION FILE NO.: 333-283864-06 | ||
The information in this supplement is not complete and may be changed. This supplement is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
This supplement no. 1 to preliminary prospectus is dated October 21, 2026 and relates to the preliminary prospectus, dated October 16, 2026, which may be amended or completed prior to the time of sale.
October 21, 2026
SUPPLEMENT NO. 1 TO PRELIMINARY PROSPECTUS
$483,577,000 (Approximate)
AXDB 2026-MULT1 Mortgage Trust
(Central Index Key Number 0002158812)
Issuing Entity
Deutsche Mortgage & Asset Receiving Corporation
(Central Index Key Number 0001013454)
Depositor
German American Capital Corporation
(Central Index Key Number 0001541294)
AXMF 2026-1 LLC
(Central Index Key Number 0002159526)
Sponsors and Mortgage Loan Sellers
AXDB 2026-MULT1 Mortgage Trust
Commercial Mortgage Pass-Through Certificates, Series 2026-MULT1
| Deutsche Bank Securities | ||
|
Lead Manager and Bookrunner
|
||
| Drexel Hamilton | Mischler AmeriVet | |
| Co-Managers | ||
This Supplement No. 1 to Preliminary Prospectus, dated October 21, 2026 (this “Supplement”), relates to the offering of AXDB 2026-MULT1 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2026-MULT1 (collectively, the “Offered Certificates”) and clarifies, updates or adds the following information to the Preliminary Prospectus, dated October 16, 2026 and filed with the Securities and Exchange Commission under accession number 0001539497-26-002701 (the “Preliminary Prospectus”). Capitalized terms not defined herein are used as defined in the Preliminary Prospectus:
Structural Updates
| ● | The Closing Date is November 17, 2026. Accordingly, all references to the Closing Date in the Preliminary Prospectus, including on the cover page, under “Summary of Terms—Relevant Dates and Periods” and “Certain Calculations and Definitions”, are replaced by the foregoing. |
| ● | The “Cut-off Date” with respect to each Mortgage Loan is the later of the related due date in November 2026 (or, in the case of any Mortgage Loan that has its first due date after November 2026, the date that would have been its due date in November 2026 under the terms of that Mortgage Loan. The definition of “Cut-off Date” under “Description of the Mortgage Pool—General” and all references to such term in the Preliminary Prospectus are replaced by the foregoing. |
| ● | The initial Distribution Date will occur in December 2026. Accordingly, all references to the initial Distribution Date in the Preliminary Prospectus, including on the cover page, under “Summary of Terms—Relevant Dates and Periods” and “Description of the Certificates—Distributions”, are revised to reflect an initial Distribution Date in December 2026. |
| ● | The initial Determination Date will occur in December 2026. Accordingly, all references to the initial Determination Date in the Preliminary Prospectus, including under “Summary of Terms—Relevant Dates and Periods” and “Description of the Certificates—Distributions”, are revised to reflect an initial Determination Date in December 2026. |
| ● | Interest will accrue on the Certificates beginning as of November 1, 2026. Accordingly, all references in the Preliminary Prospectus to accrued interest with respect to the Certificates prior to the Closing Date, including on the cover page, under “Yield and Maturity Considerations—Pre-Tax Yield to Maturity Tables” and under “Method of Distribution (Conflicts of Interest)” are revised to reflect accrued interest from November 1, 2026. |
| ● | The definition of “Closing Date Deposit Amount” and all references to such term should be disregarded in their entirety. |
| ● | The Pooling and Servicing Agreement, the CBRELS Sub-Servicing Agreement and the W&D Sub-Servicing Agreement will each be dated as of November 1, 2026. |
Summary of Certificates
The “Summary of Certificates” table on page 3 of the Preliminary Prospectus is revised by the table attached to Schedule A hereto.
Cut-off Date Mortgage Loan Characteristics.
The “Cut-off Date Mortgage Loan Characteristics” table on page 42 of the Preliminary Prospectus is deleted in its entirety and replaced with table attached to Schedule B hereto.
Voluntary Prepayments
The first three paragraphs and the related lock-out period table under “Description of the Mortgage Pool—Voluntary Prepayments” in the Preliminary Prospectus are deleted in their entirety and replaced with Schedule C hereto.
Credit Risk Retention
The section “Credit Risk Retention—HRR Certificates” beginning on page 205 in the Preliminary Prospectus is deleted in its entirety and replaced by Schedule D hereto.
Modeling Assumptions
The first and sixth Modeling Assumptions under “Yield and Maturity Considerations—Weighted Average Life” on page 382 of the Preliminary Prospectus are deleted in their entirety and replaced with the following, respectively:
| ● | Scheduled Periodic Payments, including payments due at maturity, of principal and/or interest on the Mortgage Loans will be assumed to be received on a timely basis and distributed on the 15th day of the related month, beginning in December 2026. |
| ● | The Closing Date will be assumed to occur on November 17, 2026. |
Weighted Average Life Tables
The tables under “Yield and Maturity Considerations—Weighted Average Life” of the Preliminary Prospectus are deleted in their entirety and replaced with the tables attached to Schedule E hereto.
Annex A-1
Annex A-1 to the Preliminary Prospectus, entitled “Certain Characteristics of the Mortgage Loans and Mortgaged Properties,” is deleted in its entirety and replaced with Annex A-1 attached hereto.
Except as modified above, the Preliminary Prospectus remains unmodified.
This Supplement is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The information in this Supplement, if conveyed prior to the time of your contractual commitment to purchase any of the Offered Certificates, supersedes any conflicting information contained in the Preliminary Prospectus, the term sheet and any other prior similar materials relating to the Offered Certificates. The information in this Supplement may be amended or supplemented. This Supplement is being delivered to you solely to provide you with information about the offering of the Offered Certificates referred to in this Supplement and to solicit an offer to purchase the Offered Certificates, when, as and if issued. Any such offer to purchase made by you will not constitute a contractual commitment by you to purchase or give rise to an obligation by the underwriters to sell any of the Offered Certificates until the underwriters have accepted your offer to purchase Offered Certificates; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this Supplement is truthful or complete. Any representation to the contrary is a criminal offense.
THE INFORMATION IN THIS SUPPLEMENT IS PRELIMINARY AND MAY BE SUPPLEMENTED OR AMENDED PRIOR TO THE TIME OF SALE. PROSPECTIVE INVESTORS SHOULD UNDERSTAND THAT, WHEN CONSIDERING THE PURCHASE OF THE OFFERED CERTIFICATES, THE TIME OF SALE WILL COME INTO BEING NO SOONER THAN THE DATE ON WHICH THE RELEVANT CLASS OF CERTIFICATES HAS BEEN PRICED, THE INVESTOR HAS OTHERWISE TAKEN ALL ACTIONS THE INVESTOR MUST TAKE TO BECOME COMMITTED TO PURCHASE THE OFFERED CERTIFICATES, AND THE INVESTOR HAS THEREFORE ENTERED INTO A CONTRACT OF SALE; ANY “INDICATIONS OF INTEREST” EXPRESSED BY ANY PROSPECTIVE INVESTOR, AND ANY “SOFT CIRCLES” GENERATED BY THE UNDERWRITERS, WILL NOT CREATE BINDING CONTRACTUAL OBLIGATIONS FOR SUCH PROSPECTIVE INVESTORS, ON THE ONE HAND, OR THE UNDERWRITERS, THE DEPOSITOR OR ANY OF THEIR RESPECTIVE AGENTS OR AFFILIATES, ON THE OTHER HAND.
IN ADDITION, THE OFFERED CERTIFICATES REFERRED TO IN THIS SUPPLEMENT, AND THE ASSET POOL BACKING THEM, ARE SUBJECT TO MODIFICATION OR REVISION (INCLUDING THE POSSIBILITY THAT ONE OR MORE CLASSES OF CERTIFICATES MAY BE SPLIT, COMBINED OR ELIMINATED) AT ANY TIME PRIOR TO ISSUANCE, AND ARE OFFERED ON A “WHEN, AS AND IF ISSUED” BASIS.
THE UNDERWRITERS DESCRIBED IN THESE MATERIALS MAY FROM TIME TO TIME PERFORM INVESTMENT BANKING SERVICES FOR, OR SOLICIT INVESTMENT BANKING BUSINESS FROM, ANY COMPANY NAMED IN THESE MATERIALS. THE UNDERWRITERS AND/OR
| 2 |
THEIR RESPECTIVE EMPLOYEES MAY FROM TIME TO TIME HAVE A LONG OR SHORT POSITION IN ANY SECURITY OR CONTRACT DISCUSSED IN THESE MATERIALS.
THE INFORMATION CONTAINED IN THIS SUPPLEMENT SUPERSEDES ANY PREVIOUS SUCH INFORMATION DELIVERED TO ANY PROSPECTIVE INVESTOR AND WILL BE SUPERSEDED BY INFORMATION DELIVERED TO SUCH PROSPECTIVE INVESTOR PRIOR TO THE TIME OF SALE.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
| 3 |
Schedule A
Summary of Certificates
|
Class |
Initial Certificate Balance or Notional Amount(1) |
Approx. Initial Credit Support(7) |
Approx. Initial Pass-Through Rate |
Pass-Through Rate Description |
Assumed Final Distribution Date(2) |
Weighted Average |
Principal Window (months)(8) |
| Offered Certificates | |||||||
| Class A-2 | (3) | 30.000% | [_]% | (4) | (3) | (3) | (3) |
| Class A-3 | (3) | 30.000% | [_]% | (4) | (3) | (3) | (3) |
| Class X-A | $ 430,835,000(5) | N/A | [_]% | Variable(6) | October 2031 | N/A | N/A |
| Class X-B | $ 52,742,000(5) | N/A | [_]% | Variable(6) | October 2031 | N/A | N/A |
| Class A-M | $ 47,261,000 | 21.375% | [_]% | (4) | October 2031 | 4.91 | 59 - 59 |
| Class B | $ 30,138,000 | 15.875% | [_]% | (4) | October 2031 | 4.91 | 59 - 59 |
| Class C | $ 22,604,000 | 11.750% | [_]% | (4) | October 2031 | 4.91 | 59 - 59 |
| Non-Offered Certificates(9) | |||||||
| Class D | $ 18,494,000 | 8.375% | [_]% | (4) | October 2031 | 4.91 | 59 - 59 |
| Class E(10) | $ 9,178,000 | 6.700% | [_]% | (4) | November 2031 | 4.95 | 59 - 60 |
| Class F-RR(10) | $ 9,315,000 | 5.000% | [_]% | (4) | November 2031 | 4.99 | 60 - 60 |
| Class G-RR | $ 27,399,000 | 0.000% | [_]% | (4) | November 2031 | 4.99 | 60 - 60 |
| Class R(11) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (3) The exact initial certificate balances of the Class A-2 and Class A-3 certificates are unknown and will be determined based on the final pricing of those classes of certificates. However, the respective initial certificate balances, assumed final distribution dates, weighted average lives and principal windows of the Class A-2 and Class A-3 certificates are expected to be within the applicable ranges reflected in the following chart. The aggregate initial certificate balance of the Class A-2 and Class A-3 certificates is expected to be approximately $383,574,000, subject to a variance of plus or minus 5%. |
|
Class of Certificates |
Expected Range of Initial Certificate Balance |
Expected Range of Assumed Final Distribution Date |
Expected Range of Weighted Avg. Life (Yrs) |
Expected Range of Principal Window |
| Class A-2 | $0 – $165,000,000 | NAP – September 2031 | NAP – 4.71 | NAP / 55 - 58 |
| Class A-3 | $218,574,000 – $383,574,000 | October 2031 | 4.85 – 4.79 | 58 – 59 / 55 - 59 |
You should consider any statistical data contained in the Preliminary Prospectus that corresponds to the updated information shown in the table above as also updated to refer to such updated information.
| Schedule A-1 |
Schedule B
Cut-off Date Mortgage Loan Characteristics
|
All Mortgage Loans | |
| Initial Pool Balance(1) | $547,963,000 |
| Number of mortgage loans | 38 |
| Number of mortgaged properties | 55 |
| Range of Cut-off Date Balances | $4,247,000 to $47,500,000 |
| Average Cut-off Date Balance | $14,420,079 |
| Range of Mortgage Rates | 5.6600% to 7.0900% |
| Weighted average Mortgage Rate | 6.30876% |
| Range of original terms to maturity | 60 months to 60 months |
| Weighted average original term to maturity | 60 months |
| Range of remaining terms to maturity | 55 months to 60 months |
| Weighted average remaining term to maturity | 58 months |
| Range of LTV Ratios as of the Cut-off Date(2) | 52.8% to 75.0% |
| Weighted average LTV Ratio as of the Cut-off Date(2) | 67.6% |
| Range of LTV Ratios as of the maturity date/ARD(2) | 52.8% to 75.0% |
| Weighted average LTV Ratio as of the maturity date/ARD(2) | 67.6% |
| Range of UW NCF DSCR(3) | 1.20x to 1.73x |
| Weighted average UW NCF DSCR(3) | 1.37x |
| Range of UW NOI Debt Yield | 7.4% to 11.0% |
| Weighted average UW NOI Debt Yield | 9.0% |
| Percentage of Initial Pool Balance consisting of: | |
| Interest Only | 100.0% |
| Amortizing Balloon | 0.0% |
| Interest Only – ARD | 0.0% |
|
|
|
(1) Subject to a variance of plus or minus 5%. (2) Unless otherwise indicated under “Description of the Mortgage Pool—Appraised Value”, each of the cut-off date loan-to-value ratio and the maturity date/ARD loan-to-value ratio has been calculated using the “as-is” appraised value (which in certain cases may reflect a portfolio premium valuation). (3) Debt service coverage ratios are calculated using the average of the principal and interest payments for the first twelve payment periods of the mortgage loan following the cut-off date (but without regard to any leap year adjustments), provided that (i) in the case of a mortgage loan that provides for interest-only payments through maturity date such items are calculated based on the interest payments scheduled to be due on the first due date following the cut-off date and the 11 due dates thereafter for such mortgage loan and (ii) in the case of a mortgage loan that provides for an initial interest-only period that ends prior to its maturity date and provides for scheduled amortization payments thereafter, such items are calculated based on the monthly payment of principal and interest payable immediately following the expiration of the interest-only period. |
| Schedule B-1 |
Schedule C
Voluntary Prepayments
Twenty-six (26) Mortgage Loans (74.7%) permit the related borrower to prepay the Mortgage Loan with the payment of the greater of a yield maintenance charge and a prepayment premium of 1% of the prepaid amount if such prepayment occurs prior to the related open prepayment period, and thereafter such Mortgage Loan is freely prepayable.
Two (2) Mortgage Loans (7.0%) permit the related borrower, after a lockout period of 8 to 11 payments following the origination date, to prepay the Mortgage Loan with the payment of the greater of a yield maintenance charge and a prepayment premium of 1% of the prepaid amount if such prepayment occurs prior to the related open prepayment period, and thereafter such Mortgage Loan is freely prepayable.
The Mortgage Loans described above that permit voluntary prepayment with yield maintenance have the following lock-out period as calculated from the Cut-off Date and as indicated in the following table:
|
Mortgage Loan |
Cut-off Date |
% of Initial |
Lock-Out
Period |
| Yorktowne Pointe Apartments | $22,850,000 | 4.2% | 8 |
| Virginia Portfolio | $15,265,000 | 2.8% | 11 |
| Schedule C-1 |
Schedule D
Credit Risk Retention
HRR Certificates
General
The Retaining Party is expected to purchase the HRR Certificates, consisting of the classes of certificates identified in the table below.
|
Class of HRR Certificates |
Expected
Initial |
Estimated
Fair Value of the HRR |
Expected
Purchase |
| Class F-RR | $9,315,000(4) | $7,104,839 / 1.28% - 1.34% | 76.2731% |
| Class G-RR | $27,399,000 | $20,898,067 / 3.77% - 3.94% | 76.2731% |
| (1) | Includes the expected initial Certificate Balance of each class of HRR Certificates that the Retaining Party expects to purchase on the Closing Date. |
| (2) | The estimated fair value (expressed as a dollar amount) and estimated range of fair value (expressed as a percentage of the aggregate fair value of all of the certificates (other than the Class R certificates) of the HRR Certificates. The fair value of the HRR Certificates is based upon a targeted discount yield, and has been determined as described under “—Yield-Priced Certificates—Assumed Certificate Characteristics”. The fair value of the other certificates is unknown and has been determined by the Sponsors as described under “—Determination of Amount of Required Horizontal Credit Risk Retention” below. |
| (3) | Expressed as a percentage of the expected initial Certificate Balance of each class of the HRR Certificates, excluding accrued interest. The aggregate purchase price expected to be paid for the HRR Certificates to be acquired by the Retaining Party is approximately $28,002,906, excluding accrued interest. |
| (4) | The approximate initial Certificate Balance of the Class F-RR certificates is subject to change based on final pricing of all certificates (other than the Class R certificates) and the final determination of the fair market value of the HRR Certificates. |
The Retaining Sponsor estimates that, if it had relied solely on retaining an “eligible horizontal residual interest” in order to meet the credit risk retention requirements of the Credit Risk Retention Rules with respect to this securitization transaction, it would have retained an eligible horizontal residual interest with an aggregate fair value dollar amount of approximately $27,130,488, representing 5% of the aggregate fair value, as of the Closing Date, of all classes of certificates (other than the Class R certificates).
A reasonable time after the Closing Date, the Retaining Sponsor will be required to disclose to, or cause to be disclosed to, Certificateholders the following: (a) the fair value of the HRR Certificates that will be retained by the Retaining Party based on actual sale prices and finalized tranche sizes, (b) the fair value of the “eligible horizontal residual interest” (as such term is defined in the Credit Risk Retention Rules) that the Retaining Sponsor would have been required to retain under the Credit Risk Retention Rules, and (c) to the extent the valuation methodology or any of the key inputs and assumptions that were used in calculating the fair value or range of fair values disclosed under the heading “Determination of Amount of Required Horizontal Credit Risk Retention” prior to the pricing of the certificates materially differs from the methodology or key inputs and assumptions used to calculate the fair value at the time of the Closing Date, descriptions of those material differences. Any such notice from the Retaining Sponsor of such disclosures are expected to be posted on the certificate administrator’s website on the “U.S. Risk Retention Special Notices” tab.
Material Terms of the HRR Certificates
For a description of the material terms of the classes of certificates that comprise the HRR Certificates, see “Description of the Certificates” and “Pooling and Servicing Agreement—The Directing Holder—Control Termination Event, Consultation Termination Event and Operating Advisor Consultation Event”. You are strongly urged to review this prospectus in its entirety.
| Schedule D-1 |
Determination of Amount of Required Horizontal Credit Risk Retention
General
CMBS such as the Principal Balance Certificates are typically priced based relative to either the treasury yield curve or to a targeted yield. The method of pricing used is primarily a function of the rating, but can also be determined by prevailing market conditions or investor preference. For this transaction, the Class A-2, Class A-3, Class A-M, Class B, Class C and Class D certificates (the “Treasury-Priced Principal Balance Certificates”) are anticipated to be priced based on the treasury yield curve and the Class E, Class F-RR and Class G-RR certificates (the “Yield-Priced Certificates”) are anticipated to be priced based on a targeted yield, and the Sponsors calculated the expected scheduled principal payments (the “Scheduled Certificate Principal Payments”) on each Class of Treasury-Priced Principal Balance Certificates and the Yield-Priced Certificates as described below. CMBS such as the Class X Certificates (solely for the purposes of this “Credit Risk Retention” section, the “Interest-Only Certificates”) are typically priced relative to the treasury yield curve. The Sponsors made their determination of the fair value of the Certificates presented above based on a number of inputs consistent with these typical pricing methodologies in the manner described below for the applicable class of certificates.
Treasury-Priced Principal Balance Certificates
Based on the Modeling Assumptions and assuming a 0% CPR, the Sponsors calculated what the Scheduled Certificate Principal Payments on each Class of Treasury-Priced Principal Balance Certificates would be over the course of the transaction based on when principal payments are required to be made under the terms of the underlying Mortgage Loan documents during each Collection Period and which Classes of Treasury-Priced Principal Balance Certificates will be entitled to receive principal payments based on the certificate payment priorities described in “Description of the Certificates—Distributions”. On the basis of the Scheduled Certificate Principal Payments, the Sponsors calculated the weighted average life for each Class of Treasury-Priced Principal Balance Certificates.
Treasury Yield Curve. The Sponsors utilized the assumed treasury yield curve in the table below in determining the range of fair values of the Treasury-Priced Principal Balance Certificates. The actual treasury yield curve that will be used as a basis for determining the price of the Treasury-Priced Principal Balance Certificates is not known at this time and differences in the treasury yield curve will ultimately result in higher or lower fair value calculations. For an expected range of values at specified points along the treasury yield curve, see the table below entitled “Range of Treasury Yields for the Treasury-Priced Principal Balance Certificates”. The Sponsors identified the range presented in the table below at each maturity on the treasury yield curve, which represents the Sponsors’ estimate of the largest increase or decrease in the treasury yield at that maturity reasonably expected to occur prior to pricing of the certificates, based on 10 business day rolling periods over the past 6 months.
Range of Treasury Yields for the Treasury-Priced Principal Balance Certificates
|
Maturity (Years) |
Low Estimate of Treasury Yield |
Base Case Treasury Yield |
High Estimate of Treasury Yield |
| 3Y | 4.6570% | 4.9170% | 5.1770% |
| 5Y | 4.8130% | 5.0430% | 5.2730% |
Based on the treasury yield curve, the Sponsors will determine for each Class of Treasury-Priced Principal Balance Certificates the treasury yield reflected on the treasury yield curve (the “Interpolated Yield”) that corresponds to that Class’ weighted average life, by using a straight-line interpolation using the treasury yield curve with 3 and 5 year maturities if the weighted average life does not correspond to a specified maturity on the treasury yield curve.
Credit Spread Determination. The Sponsors determined the credit spread for each Class of Treasury-Priced Principal Balance Certificates on the basis of market bids obtained for similar CMBS with similar credit ratings, pool composition and asset quality, payment priority and weighted average lives of the related class of certificates as of the date of this prospectus. The credit spread for a particular Class
| Schedule D-2 |
of Treasury-Priced Principal Balance Certificates at the time of pricing is not known at this time and differences in the then current credit spread demanded by investors for similar CMBS will ultimately result in higher or lower fair values. The Sponsors identified the range presented in the table below from the base case credit spread percentage, which represents the Sponsors’ estimate of the largest increase or decrease in the credit spread for newly issued CMBS reasonably expected to occur prior to pricing of the certificates based on the Sponsors’ experience in the placement of CMBS with similar characteristics.
Range of Credit Spreads for the Treasury-Priced Principal Balance Certificates
|
Class of Certificates |
Low Estimate of Credit Spread |
Base Case Credit Spread |
High Estimate of Credit Spread |
| Class A-2 | 0.53% | 0.83% | 1.13% |
| Class A-3 | 0.55% | 0.85% | 1.15% |
| Class A-M | 0.70% | 1.10% | 1.50% |
| Class B | 0.75% | 1.30% | 1.85% |
| Class C | 1.05% | 1.65% | 2.25% |
| Class D | 2.10% | 3.10% | 4.10% |
Discount Yield Determination. The discount yield (the “Discount Yield”) for each class of certificates is the sum of the Interpolated Yield for such class and the related credit spread (converted to a monthly equivalent) established at pricing. For an expected range of values for each class of Treasury-Priced Principal Balance Certificates, see the table entitled “Range of Discount Yields for the Treasury-Priced Principal Balance Certificates” below. The Sponsors identified the range presented in the table below for each such class of certificates as the range from (i) the sum of the lowest estimated Interpolated Yield for that class and the lowest estimated credit spread to (ii) the sum of the highest estimated Interpolated Yield for that class and the highest estimated credit spread.
Range of Discount Yields for the Treasury-Priced Principal Balance Certificates
|
Class of Certificates |
Low Estimate of Discount Yield |
Base Case Discount Yield |
High Estimate of Discount Yield |
| Class A-2 | 5.3204% | 5.8548% | 6.3891% |
| Class A-3 | 5.3513% | 5.8836% | 6.4158% |
| Class A-M | 5.5061% | 6.1374% | 6.7687% |
| Class B | 5.5561% | 6.3374% | 7.1187% |
| Class C | 5.8561% | 6.6874% | 7.5187% |
| Class D | 6.9061% | 8.1374% | 9.3687% |
Determination of Class Sizes. The Sponsors were provided credit support levels for each class of certificates by each Rating Agency. Based on the individual credit support levels (expressed as a percentage) provided by the Rating Agencies, the Sponsors determined the highest required credit support level of the Rating Agencies selected to rate a particular class of certificates (the “Constraining Level”). In certain circumstances, the Sponsors may elect not to engage a rating agency for particular classes of certificates, based in part on the credit support levels provided by such rating agency. See “Risk Factors—Other Risks Relating to the Certificates—Nationally Recognized Statistical Rating Organizations May Assign Different Ratings to the Certificates; Ratings of the Certificates Reflect Only the Views of the Applicable Rating Agencies as of the Dates Such Ratings Were Issued; Ratings May Affect ERISA Eligibility; Ratings May Be Downgraded”. The Certificate Balance for the classes of certificates with the highest credit rating was determined by multiplying the Initial Pool Balance by a percentage equal to 1.0 minus that Class’ Constraining Level. For each other subordinate class of Principal Balance Certificates, that Class’ Certificate Balance was determined by multiplying an amount equal to the Initial Pool Balance by a percentage equal to the difference of the Constraining Level for the immediately senior class of Principal Balance Certificates minus such subordinate Class’ Constraining Level.
Target Price Determination. The Sponsors determined a target price (the “Target Price”) for each class of Treasury-Priced Principal Balance Certificates (other than the Class D certificates) on the basis of the price (expressed as a percentage of the Certificate Balance of that class) that similar CMBS with
| Schedule D-3 |
similar credit ratings, cash flow profiles and prepayment risk have priced at in recent securitization transactions. The Target Price that was utilized for each class of Treasury-Priced Principal Balance Certificates (other than the Class D certificates) is set forth in the table below. The Target Prices utilized by the Sponsors have not changed materially during the prior year.
|
Class of Certificates |
Target Price(1) |
| Class A-2 | 101.00% |
| Class A-3 | 103.00% |
| Class A-M | 103.00% |
| Class B | 103.00% |
| Class C | 100.00% |
| (1) | The Target Price may not be realized if the related class accrues interest at the WAC Rate. | |
Determination of Assumed Certificate Coupon. The Sponsors determined the assumed certificate coupon (the “Assumed Certificate Coupon”) for each class of Treasury-Priced Principal Balance Certificates as follows: (i) with respect to the Class A-2, Class A-3, Class A-M, Class B, and Class C Certificates, based on the Target Price, the Discount Yield and the Scheduled Certificate Principal Payments for such class of certificates, the Sponsors calculated what coupon would be required to be used based on the Scheduled Certificate Principal Payments for such class of certificates in order to achieve the related Target Price for that class of certificates when utilizing the related Discount Yield in determining that Target Price, and (ii) with respect to the Class D certificates, the Sponsors expect the Assumed Certificate Coupon to be equal to the WAC Rate. The Assumed Certificate Coupon for each class of Treasury-Priced Principal Balance Certificates and Range of Assumed Certificate Coupons generated as described above is set forth in the table below.
Range of Assumed Certificate Coupons for the Treasury-Priced Principal Balance Certificates
|
Class of Certificates |
Low Estimate
of Assumed |
Base Case
Assumed Initial |
High Estimate
of Assumed |
| Class A-2 | 5.5540% | 6.0850% | 6.2020%(1) |
| Class A-3 | 6.0500% | 6.2020%(1) | 6.2020%(1) |
| Class A-M | 6.1970% | 6.2020%(1) | 6.2020%(1) |
| Class B | 6.1560%(2) | 6.2020%(1) | 6.2020%(1) |
| Class C | 5.8390% | 6.2020%(1) | 6.2020%(1) |
| Class D | 6.2020%(1) | 6.2020%(1) | 6.2020%(1) |
| (1) | Based on the WAC Rate. |
| (2) | Based on the WAC Rate minus 0.0464%. |
Determination of Treasury-Priced Expected Price. Based on interest payments using the Assumed Certificate Coupons for the Treasury-Priced Principal Balance Certificates, the Discount Yield and the Scheduled Certificate Principal Payments for each class of Treasury-Priced Principal Balance Certificates, the Sponsors determined the price (the “Treasury-Priced Expected Price”) expressed as a percent of the Certificate Balance of that class by determining the net present value of the Scheduled Certificate Principal Payments and interest payments accruing at the related Assumed Certificate Coupon discounted at the related Discount Yield; however, for purposes of such calculation no Assumed Certificate Coupon exceeded the related WAC Rate. The Sponsors determined the Treasury-Priced Expected Price for each Class of Treasury-Priced Principal Balance Certificates based on the low estimate and high estimate of Assumed Certificate Coupons and Discount Yield. The lower the yield based on the Assumed Certificate Coupon, the higher the corresponding Treasury-Priced Expected Price for a class of certificates will be, therefore, the low range of fair market values of the Treasury-Priced Principal Balance Certificates will correspond to the high range of the estimate of potential Assumed Certificate Coupons and correspondingly, the high range of fair market values of the Treasury-Priced Principal Balance Certificates will correspond to the low range of the estimate of potential Assumed Certificate Coupons.
| Schedule D-4 |
Interest-Only Certificates
Based on the Modeling Assumptions and assuming a 100% CPY, the Sponsors calculated what the expected scheduled interest payments on each class of Interest-Only Certificates would be over the course of the transaction (for each Class of Interest-Only Certificates, the “Scheduled Certificate Interest Payments”) based on what the Notional Amount of the related class of Interest-Only Certificates would be during each Collection Period as a result of the application of the expected principal payments during such Collection Period under the terms of the Mortgage Loan documents assuming a 100% CPY and the classes of certificates that would be entitled to those principal payments based on the payment priorities described in “Description of the Certificates—Distributions”. On the basis of the periodic reduction in the Notional Amount of each class of Interest-Only Certificates, the Sponsors calculated the weighted average life for each such class of Interest-Only Certificates.
Determination of Treasury Yield Curve. The Sponsors utilized the assumed treasury yield curve in the table above under “—Treasury-Priced Principal Balance Certificates—Treasury Yield Curve” in determining the range of fair values of the Interest-Only Certificates.
For each Class of Interest-Only Certificates, the Sponsors determined the Interpolated Yield that corresponds to that Class’ weighted average life of the class(es) of Principal Balance Certificates that is the component of such Class of Interest-Only Certificates by using a straight-line interpolation using treasury yield curves with 3 and 5 year maturities if the weighted average life does not correspond to a specified maturity on the treasury yield curve.
Credit Spread Determination. The Sponsors determined the credit spread for each Class of Interest-Only Certificates on the basis of market bids obtained for similar CMBS with similar credit ratings, pool composition and asset quality, payment priority and weighted average lives of the related class of Interest-Only Certificates as of the date of this prospectus. The credit spread for a particular class of Interest-Only Certificates at the time of pricing is not known at this time and differences in the then current credit spread demanded by investors for similar CMBS will ultimately result in higher or lower fair market values. The Sponsors identified the range presented in the table below from the base case credit spread percentage, which represents the Sponsors’ estimate of the largest increase or decrease in the credit spread for newly issued CMBS reasonably expected to occur prior to pricing of the certificates based on the Sponsors’ experience in the placement of CMBS with similar characteristics.
Range of Credit Spreads for the Interest-Only Certificates
|
Class of Certificates |
Low Estimate of Credit Spread |
Base Case Credit Spread |
High Estimate of Credit Spread |
| Class X-A | -1.25% | 0.00% | N/A(1) |
| Class X-B | -1.25% | N/A(1) | N/A(1) |
| (1) | Assumes that the Pass-Through Rate for each class of corresponding certificates is WAC. |
Discount Yield Determination. The discount yield (the “Discount Yield”) for each class of Interest-Only Certificates is the sum of the Interpolated Yield for such class and the related credit spread. For an expected range of values for each class of Interest-Only Certificates, see the table entitled “Range of Discount Yields for the Interest-Only Certificates” below. The Sponsors identified the range presented in the table below for each such class of certificates as the range from (i) the sum of the lowest estimated Interpolated Yield for such class and the lowest estimated credit spread to (ii) the sum of the highest estimated Interpolated Yield for such class and the highest estimated credit spread.
Range of Discount Yields for the Interest-Only Certificates
|
Class of Certificates |
Low Estimate of Discount Yield |
Base Case Discount Yield |
High Estimate of Discount Yield |
| Class X-A | 3.5259% | 5.0130% | N/A(1) |
| Class X-B | 3.5366% | N/A(1) | N/A(1) |
| Schedule D-5 |
| (1) | Assumes that the Pass-Through Rate for each class of corresponding certificates is WAC. |
Determination of Scheduled Certificate Interest Payments. Based on the range of Assumed Certificate Coupons determined for the Principal Balance Certificates, the Sponsors determined the range of Scheduled Certificate Interest Payments in each scenario for each class of Interest-Only Certificates based on the defined Pass-Through Rate for such class of certificates.
Determination of Interest-Only Expected Price. Based on the Discount Yield and the Scheduled Certificate Interest Payments for each class of Interest-Only Certificates, the Sponsors determined the price (the “Interest-Only Expected Price”) expressed as a percent of the Notional Amount of such class by determining the net present value of the Scheduled Certificate Interest Payments discounted at the related Discount Yield. The Sponsors determined the Interest-Only Expected Price for each class of Interest-Only Certificates based on the low estimate and high estimate of Assumed Certificate Coupons for the Principal Balance Certificates and the resulting Scheduled Certificate Interest Payments due to the Interest-Only Certificates in each scenario. Lower Assumed Certificate Coupons on the Principal Balance Certificates result in an increase in the Scheduled Certificate Interest Payments to the Interest-Only Certificates and therefore a higher Interest-Only Expected Price, and higher Assumed Certificate Coupons on the Principal Balance Certificates result in a decrease in the Scheduled Certificate Interest Payments to the Interest-Only Certificates and therefore a lower Interest-Only Expected Price.
Yield-Priced Certificates
Assumed Certificate Characteristics. The Yield-Priced Certificates include the Class E Certificates and each Class of HRR Certificates expected to be acquired by the Retaining Sponsor, and the inputs for the valuation of each such class of certificates were derived from the bid that the Retaining Sponsor made to acquire such classes of certificates. The range of values were derived from variances in the inputs estimated by the Sponsors for newly issued CMBS reasonably expected to occur prior to pricing of the certificates based on the Sponsors’ experience in placement of CMBS with similar characteristics. Various factors may have influenced the Retaining Sponsor’s determination of its required Discount Yield and the related Assumed Certificate Coupon, including without limitation, the Retaining Sponsor’s assessment of the assumed default probability on the Mortgage Loans, the expected loss severity following any default, the assumed prepayment rate, and the Retaining Sponsor’s cost of funds and ultimate return on investment that the Retaining Sponsor wishes to achieve. In addition, the Retaining Sponsor’s bid may be influenced by its desire to capture market-share or other strategic business considerations. The Discount Yield for the Class E Certificates and each class of the HRR Certificates is 13.000%.
Determination of Class Size. The Sponsors determined the Certificate Balance of the Class E Certificates and each Class of HRR Certificates in the same manner described in “—Treasury-Priced Principal Balance Certificates—Determination of Class Sizes” above.
Determination of Yield-Priced Expected Price. Based on a 0% CPR and the interest payments using the Assumed Certificate Coupon assumed to be equal to the related WAC Rate for each class of the Yield-Priced Certificates, the Discount Yield and the Scheduled Certificate Principal Payments and interest payments (as applicable) for the Class E Certificates and each Class of HRR Certificates, the Sponsors determined the price (the “Yield-Priced Expected Price” and, together with the Treasury-Priced Expected Price and the Interest-Only Expected Price, the “Expected Prices” or each an “Expected Price”) expressed as a percent of the Certificate Balance or Notional Amount, as applicable, of that class by determining the net present value of the Scheduled Certificate Principal Payments and interest payments (as applicable) accruing at the related Assumed Certificate Coupon discounted at the related Discount Yield. The Sponsors determined the Yield-Priced Expected Price for the Class E Certificates and each Class of HRR Certificates based on the related Discount Yields. The lower the Discount Yield, the higher the corresponding Yield-Priced Expected Price for a class of certificates will be, therefore, the low range of fair market values of the Class E Certificates and each Class of HRR Certificates will correspond to the high range of the estimate of potential Discount Yields and, correspondingly, the high range of fair market values of the Class E Certificates and each Class of HRR Certificates will correspond to the low range of the estimate of potential Discount Yields.
| Schedule D-6 |
Calculation of Fair Value
Based on the Expected Prices, the Sponsors determined the range of fair values set forth in the table below for each class of certificates (excluding accrued interest). For the “Base Case Fair Value” (as well as the “High Estimate of Fair Value (Based on Low Estimate of Discount Yield)” and “Low Estimate of Fair Value (Based on High Estimate of Discount Yield)”), the Sponsors determined the fair value of the related class of certificates by multiplying the relevant Expected Price by the Certificate Balance or Notional Amount, as applicable, of such class of certificates. For the “High Estimate of Fair Value (Based on Low Estimate of Discount Yield)”, the Sponsors determined the fair value for the related class of certificates by multiplying the relevant Expected Price by the high estimate Certificate Balance or Notional Amount, as applicable, of such class of certificates. For the “Low Estimate of Fair Value (Based on High Estimate of Discount Yield)”, the Sponsors determined the fair value of the related class of certificates by multiplying the relevant Expected Price by the low estimate Certificate Balance or Notional Amount, as applicable, of such class of certificates.
Range of Fair Value
|
Class of Certificates |
Low Estimate
of Fair |
Base Case Fair Value |
High Estimate
of Fair Value | ||||||
| Class A-2(1) | $164,493,599 | $166,648,812 | $166,646,997 | ||||||
| Class A-3(1) | $217,690,262 | $222,471,109 | $225,127,614 | ||||||
| Class X-A | $0 | $1,314,176 | $7,281,241 | ||||||
| Class X-B | $0 | $0 | $493,496 | ||||||
| Class A-M | $46,392,603 | $47,613,392 | $48,677,752 | ||||||
| Class B | $29,163,102 | $30,113,438 | $31,042,113 | ||||||
| Class C | $21,518,508 | $22,262,854 | $22,603,887 | ||||||
| Class D | $16,337,413 | $17,168,716 | $18,052,243 | ||||||
| Class E | $7,014,355 | $7,014,355 | $7,014,355 | ||||||
| Class F-RR | $7,104,839 | $7,104,839 | $7,104,839 | ||||||
| Class G-RR | $20,898,067 | $20,898,067 | $20,898,067 | ||||||
| (1) | The range of estimated fair values set forth in the table above with respect to the Class A-2 certificates and the Class A-3 certificates is based on the Class A-2 certificates having an initial Certificate Balance of $165,000,000, and the Class A-3 certificates having an initial Certificate Balance of $218,574,000. However, the exact initial Certificate Balances of the Class A-2 and Class A-3 certificates are unknown and will be determined based on the final pricing of those classes of certificates. The initial Certificate Balance of the Class A-2 certificates is expected to be within a range of $0 and $165,000,000, and the initial Certificate Balance of the Class A-3 certificates is expected to be within a range of $218,574,000 and $383,574,000. The aggregate initial Certificate Balance of the Class A-2 and Class A-3 certificates is expected to be approximately $383,574,000, subject to a variance of plus or minus 5%. |
The estimated range of fair value for all Classes of certificates (other than the Class R certificates) is approximately $530,612,747 to $554,942,604, excluding accrued interest.
| Schedule D-7 |
Schedule E
Percent of the Minimum Initial Certificate
Balance ($0)(1)
of the Class A-2 Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | NAP | NAP | NAP | NAP | NAP |
| November 2027 | NAP | NAP | NAP | NAP | NAP |
| November 2028 | NAP | NAP | NAP | NAP | NAP |
| November 2029 | NAP | NAP | NAP | NAP | NAP |
| November 2030 | NAP | NAP | NAP | NAP | NAP |
| November 2031 and thereafter | NAP | NAP | NAP | NAP | NAP |
| Weighted Average Life (years)(2) | NAP | NAP | NAP | NAP | NAP |
| (1) | The exact initial Certificate Balance of the Class A-2 certificates is unknown and will be determined based on final pricing of that Class. The information in the chart above is based on the minimum potential initial Certificate Balance of the Class A-2 certificates, however, the actual Certificate Balance may be greater than the minimum shown, in which case the weighted average lives may be different than those shown above. |
| (2) | The weighted average life of the Class A-2 certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-2 certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class A-2 certificates. |
Percent of the Maximum Initial Certificate
Balance ($165,000,000)(1)
of the Class A-2 Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(2) | 4.71 | 4.67 | 4.64 | 4.59 | 4.40 |
| (1) | The exact initial Certificate Balance of the Class A-2 certificates is unknown and will be determined based on final pricing of that Class. The information in the chart above is based on the maximum potential initial Certificate Balance of the Class A-2 certificates, however, the actual Certificate Balance may be less than the maximum shown, in which case the weighted average lives may be different than those shown above. |
| (2) | The weighted average life of the Class A-2 certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-2 certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class A-2 certificates. |
| Schedule E-1 |
Percent of the Minimum Initial Certificate
Balance ($218,574,000)(1)
of the Class A-3 Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(2) | 4.85 | 4.84 | 4.83 | 4.80 | 4.59 |
| (1) | The exact initial Certificate Balance of the Class A-3 certificates is unknown and will be determined based on final pricing of that Class. The information in the chart above is based on the minimum potential initial Certificate Balance of the Class A-3 certificates, however, the actual Certificate Balance may be greater than the minimum shown, in which case the weighted average lives may be different than those shown above. |
| (2) | The weighted average life of the Class A-3 certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-3 certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class A-3 certificates. |
Percent of the Maximum Initial Certificate
Balance ($383,574,000)(1)
of the Class A-3 Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(2) | 4.79 | 4.77 | 4.75 | 4.71 | 4.51 |
| (1) | The exact initial Certificate Balance of the Class A-3 certificates is unknown and will be determined based on final pricing of that Class. The information in the chart above is based on the maximum potential initial Certificate Balance of the Class A-3 certificates, however, the actual Certificate Balance may be less than the maximum shown, in which case the weighted average lives may be different than those shown above. |
| (2) | The weighted average life of the Class A-3 certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-3 certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class A-3 certificates. |
Percent of the Initial Certificate Balance
of the Class A-M Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(1) | 4.91 | 4.91 | 4.91 | 4.90 | 4.66 |
| (1) | The weighted average life of the Class A-M certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class A-M certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class A-M certificates. |
| Schedule E-2 |
Percent of the Initial Certificate Balance
of the Class B Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(1) | 4.91 | 4.91 | 4.91 | 4.91 | 4.66 |
| (1) | The weighted average life of the Class B certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class B certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class B certificates. |
Percent of the Initial Certificate Balance
of the Class C Certificates at the Respective CPRs
Set Forth Below:
|
Distribution Date |
0% CPR |
25% CPR |
50% CPR |
75% CPR |
100% CPR |
| Initial Percentage | 100% | 100% | 100% | 100% | 100% |
| November 2027 | 100% | 100% | 100% | 100% | 100% |
| November 2028 | 100% | 100% | 100% | 100% | 100% |
| November 2029 | 100% | 100% | 100% | 100% | 100% |
| November 2030 | 100% | 100% | 100% | 100% | 100% |
| November 2031 and thereafter | 0% | 0% | 0% | 0% | 0% |
| Weighted Average Life (years)(1) | 4.91 | 4.91 | 4.91 | 4.91 | 4.66 |
| (1) | The weighted average life of the Class C certificates is determined by (a) multiplying the amount of each principal distribution on it by the number of years from the date of issuance of the Class C certificates to the related Distribution Date, (b) summing the results and (c) dividing the sum by the aggregate amount of the reductions in the Certificate Balance of the Class C certificates. |
| Schedule E-3 |
Annex A-1
CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS
AND MORTGAGED PROPERTIES
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | % of Initial Pool Balance | % of Loan Balance | Mortgage Loan Originator | Mortgage Loan Seller | Related Group | Crossed Group | Address | City | County |
| 1 | Loan | 22 | 1 | Midtown Towers | 8.7% | 100.0% | Axonic | Axonic | NAP | NAP | 5676 Broadview Road | Parma | Cuyahoga |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 7.9% | 100.0% | Axonic | Axonic | NAP | NAP | 200 Aycock Avenue | Monroe | Walton |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 6.6% | Axonic | Axonic | NAP | NAP | Various | Various | Various | |
| 3.01 | Property | 1 | Meadowlands | 1.6% | 24.5% | 804 Meadowlands Drive | Centerton | Benton | |||||
| 3.02 | Property | 1 | Ecology | 1.5% | 22.1% | 344 North Double Springs Road | Farmington | Washington | |||||
| 3.03 | Property | 1 | Honeysuckle | 1.1% | 16.8% | 4179 North Sunflower Circle | Fayetteville | Washington | |||||
| 3.04 | Property | 1 | Windwood | 0.8% | 12.8% | 1905 South 40th Street | Springdale | Washington | |||||
| 3.05 | Property | 1 | Brooks Duplexes | 0.7% | 11.4% | 993 North Brook Drive | Fayetteville | Washington | |||||
| 3.06 | Property | 1 | Clevenger | 0.5% | 8.3% | 764 North 54th Avenue | Fayetteville | Washington | |||||
| 3.07 | Property | 1 | Fountains | 0.3% | 4.1% | 4119 North Sunflower Circle | Fayetteville | Washington | |||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 6.1% | 100.0% | Axonic | Axonic | NAP | NAP | 4180 North Marine Drive | Chicago | Cook |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 6.0% | Axonic | Axonic | NAP | NAP | Various | Howell | Livingston | |
| 5.01 | Property | 1 | Chestnut Woods | 3.3% | 54.9% | 1565 Elijah Lane | Howell | Livingston | |||||
| 5.02 | Property | 1 | Chestnut Crossing | 2.7% | 45.1% | 4018 Chestnut Crossing Drive | Howell | Livingston | |||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 5.3% | 100.0% | Axonic | Axonic | NAP | NAP | 1030 Douglas Avenue | Altamonte Springs | Seminole |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 4.2% | 100.0% | GACC | GACC | NAP | NAP | 1700 Yorktowne Drive | York | York |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 4.1% | 100.0% | GACC | GACC | NAP | NAP | 1075 North Hairston Road | Stone Mountain | DeKalb |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 4.0% | 100.0% | GACC | GACC | NAP | NAP | 501-515 West 7th Street | Plainfield | Union |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 2.9% | Axonic | Axonic | NAP | NAP | Various | Riverside | Riverside | |
| 10.01 | Property | 1 | University Gardens | 2.2% | 76.0% | 3681 and 3725 Cranford Avenue | Riverside | Riverside | |||||
| 10.02 | Property | 1 | Normandy Apartments | 0.7% | 24.0% | 1480 7th Street | Riverside | Riverside | |||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 2.8% | GACC | GACC | NAP | NAP | Various | Hampton | Hampton City | |
| 11.01 | Property | 1 | Cove Harbor | 1.7% | 60.9% | 25 1/2 Bainbridge Avenue | Hampton | Hampton City | |||||
| 11.02 | Property | 1 | Harbor Oak | 1.1% | 39.1% | 3750 Kecoughtan Road | Hampton | Hampton City | |||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 2.8% | 100.0% | Axonic | Axonic | NAP | NAP | 603 West Center Street | Duncanville | Dallas |
| 13 | Loan | 16, 23 | 1 | Prestige District | 2.6% | 100.0% | GACC | GACC | NAP | NAP | 13200 Northeast 7th Avenue | North Miami | Miami-Dade |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 2.5% | Axonic | Axonic | Group 1 | NAP | Various | Various | Hampden | |
| 14.01 | Property | 1 | Olympia Manor | 1.3% | 50.4% | 97-119 Ashley Avenue | West Springfield | Hampden | |||||
| 14.02 | Property | 1 | Carriage House | 0.5% | 19.2% | 1023-1029 Elm Street | West Springfield | Hampden | |||||
| 14.03 | Property | 1 | Town West Apartments | 0.4% | 17.6% | 249 Westfield Street | West Springfield | Hampden | |||||
| 14.04 | Property | 1 | Briarwood Place | 0.3% | 12.8% | 139-145 Meeting House Road | Chicopee | Hampden | |||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 2.5% | 100.0% | GACC | GACC | NAP | NAP | 20711 Southeast Stark Street | Gresham | Multnomah |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 2.5% | Axonic | Axonic | NAP | NAP | Various | Los Angeles | Los Angeles | |
| 16.01 | Property | 1 | Delphene Manor | 0.7% | 28.7% | 1240 4th Avenue | Los Angeles | Los Angeles | |||||
| 16.02 | Property | 1 | 1142 West 17th Street | 0.6% | 26.2% | 1142 West 17th Street | Los Angeles | Los Angeles | |||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | 0.6% | 24.4% | 4144 West Adams Boulevard | Los Angeles | Los Angeles | |||||
| 16.04 | Property | 1 | 2849 San Marino Street | 0.5% | 20.6% | 2849 San Marino Street | Los Angeles | Los Angeles | |||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 2.3% | 100.0% | Axonic | Axonic | NAP | NAP | 7745 Brandywood Circle | Winter Park | Orange |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 2.0% | 100.0% | Axonic | Axonic | NAP | NAP | 20 Old Yellow Springs Road | Fairborn | Greene |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 2.0% | 100.0% | GACC | GACC | NAP | NAP | 2611-2619 Rockefeller Avenue | Everett | Snohomish |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 1.7% | 100.0% | Axonic | Axonic | NAP | NAP | 3903 49th Avenue | Sacramento | Sacramento |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 1.7% | 100.0% | Axonic | Axonic | NAP | NAP | 8710 Research Drive | Charlotte | Mecklenburg |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 1.6% | 100.0% | GACC | GACC | NAP | NAP | 693 Sutter Street | San Francisco | San Francisco |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 1.5% | 100.0% | GACC | GACC | NAP | NAP | 3402 Colby Avenue | Everett | Snohomish |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 1.4% | Axonic | Axonic | Group 1 | NAP | Various | Various | Hampden | |
| 24.01 | Property | 1 | Little River | 0.6% | 40.3% | 93 South Maple Street | Westfield | Hampden | |||||
| 24.02 | Property | 1 | Tekoa Apartments | 0.5% | 32.5% | 690 Russell Road | Westfield | Hampden | |||||
| 24.03 | Property | 1 | DeVille Apartments | 0.4% | 27.3% | 98-104 Mill Street | Springfield | Hampden | |||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 1.2% | 100.0% | GACC | GACC | NAP | NAP | 10240 Bridgeport Way Southwest | Lakewood | Pierce |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 1.2% | 100.0% | Axonic | Axonic | NAP | NAP | 1810 Belcourt Avenue | Nashville | Davidson |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 1.2% | 100.0% | GACC | GACC | NAP | NAP | 2010 East Michigan Avenue | Lansing | Ingham |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 1.2% | 100.0% | Axonic | Axonic | NAP | NAP | 1411-1425 North Liberty Street | Boise | Ada |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 1.2% | 100.0% | Axonic | Axonic | NAP | NAP | 10111 South Wilcrest Drive | Houston | Harris |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 1.1% | 100.0% | Axonic | Axonic | NAP | NAP | 8953 Brigadier Drive | Indianapolis | Marion |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 1.1% | 100.0% | Axonic | Axonic | NAP | NAP | 501 South Campbell Street | El Paso | El Paso |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 1.0% | 100.0% | Axonic | Axonic | NAP | NAP | 525 and 545 Greenup Street | Covington | Kenton |
| 33 | Loan | 14 | 1 | Almeda Apartments | 0.9% | 100.0% | Axonic | Axonic | NAP | NAP | 3801 Almeda Street | Jacksonville | Duval |
| 34 | Loan | 17 | 1 | Pompano Flats | 0.9% | 100.0% | GACC | GACC | NAP | NAP | 329 Northwest 7th Street | Pompano Beach | Broward |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 0.8% | 100.0% | Axonic | Axonic | NAP | NAP | 5000 Armour Road | Columbus | Muscogee |
| 36 | Loan | 14, 22 | 1 | The Virginian | 0.8% | 100.0% | Axonic | Axonic | NAP | NAP | 1132-1136 Virginia Avenue Northeast | Atlanta | Fulton |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 0.8% | 100.0% | GACC | GACC | NAP | NAP | 4647 Winter Avenue | Klamath Falls | Klamath |
| 38 | Loan | 14 | 1 | Springdale Apartments | 0.8% | 100.0% | Axonic | Axonic | NAP | NAP | 1901 Higgins Lane | Haltom City | Tarrant |
| A-1-1 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | State | Zip Code | General Property Type | Detailed Property Type | Year Built | Year Renovated | Number of Units | Unit of Measure |
| 11 | 11 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | OH | 44134 | Multifamily | Mid Rise | 1968 | 2024-2026 | 635 | Units |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | GA | 30655 | Multifamily | Garden | 2025 | NAP | 282 | Units |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | AR | Various | Multifamily | Garden | Various | Various | 256 | Units |
| 3.01 | Property | 1 | Meadowlands | AR | 72719 | Multifamily | Garden | 2006 | 2019 | 64 | Units | |
| 3.02 | Property | 1 | Ecology | AR | 72730 | Multifamily | Garden | 1973 | NAP | 53 | Units | |
| 3.03 | Property | 1 | Honeysuckle | AR | 72703 | Multifamily | Garden | 1984 | NAP | 44 | Units | |
| 3.04 | Property | 1 | Windwood | AR | 72762 | Multifamily | Garden | 1987 | NAP | 34 | Units | |
| 3.05 | Property | 1 | Brooks Duplexes | AR | 72704 | Multifamily | Garden | 1975 | NAP | 30 | Units | |
| 3.06 | Property | 1 | Clevenger | AR | 72704 | Multifamily | Garden | 1972 | 2022 | 20 | Units | |
| 3.07 | Property | 1 | Fountains | AR | 72703 | Multifamily | Garden | 1984 | NAP | 11 | Units | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | IL | 60613 | Multifamily | High Rise | 1950 | 2025 | 190 | Units |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | MI | 48843 | Multifamily | Garden | Various | NAP | 180 | Units |
| 5.01 | Property | 1 | Chestnut Woods | MI | 48843 | Multifamily | Garden | 2021, 2024 | NAP | 96 | Units | |
| 5.02 | Property | 1 | Chestnut Crossing | MI | 48843 | Multifamily | Garden | 2019 | NAP | 84 | Units | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | FL | 32714 | Multifamily | Garden | 1980, 1982 | NAP | 234 | Units |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | PA | 17408 | Multifamily | Low Rise | 1982 | NAP | 144 | Units |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | GA | 30083 | Multifamily | Garden | 1970 | 2025 | 280 | Units |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NJ | 07060 | Multifamily | Mid Rise | 1925 | 2025 | 84 | Units |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | CA | 92507 | Multifamily | Garden | Various | NAP | 113 | Units |
| 10.01 | Property | 1 | University Gardens | CA | 92507 | Multifamily | Garden | 1966 | NAP | 88 | Units | |
| 10.02 | Property | 1 | Normandy Apartments | CA | 92507 | Multifamily | Garden | 1971 | NAP | 25 | Units | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | VA | Various | Multifamily | Garden | Various | 2025-2026 | 153 | Units |
| 11.01 | Property | 1 | Cove Harbor | VA | 23663 | Multifamily | Garden | 1972 | 2025-2026 | 99 | Units | |
| 11.02 | Property | 1 | Harbor Oak | VA | 23669 | Multifamily | Garden | 1971 | 2025-2026 | 54 | Units | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | TX | 75116 | Multifamily | Garden | 1970 | NAP | 121 | Units |
| 13 | Loan | 16, 23 | 1 | Prestige District | FL | 33161 | Multifamily | Garden | 1968 | 2025 | 62 | Units |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | MA | Various | Multifamily | Garden | Various | NAP | 125 | Units |
| 14.01 | Property | 1 | Olympia Manor | MA | 01089 | Multifamily | Garden | 1971 | NAP | 63 | Units | |
| 14.02 | Property | 1 | Carriage House | MA | 01089 | Multifamily | Garden | 1964 | NAP | 24 | Units | |
| 14.03 | Property | 1 | Town West Apartments | MA | 01089 | Multifamily | Garden | 1968 | NAP | 22 | Units | |
| 14.04 | Property | 1 | Briarwood Place | MA | 01013 | Multifamily | Garden | 1968 | NAP | 16 | Units | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | OR | 97030 | Multifamily | Garden | 2021 | NAP | 104 | Units |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | CA | Various | Multifamily | Garden | Various | NAP | 103 | Units |
| 16.01 | Property | 1 | Delphene Manor | CA | 90019 | Multifamily | Garden | 1928 | NAP | 30 | Units | |
| 16.02 | Property | 1 | 1142 West 17th Street | CA | 90015 | Multifamily | Garden | 1928 | NAP | 28 | Units | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | CA | 90018 | Multifamily | Garden | 1927 | NAP | 24 | Units | |
| 16.04 | Property | 1 | 2849 San Marino Street | CA | 90006 | Multifamily | Garden | 1923 | NAP | 21 | Units | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | FL | 32792 | Multifamily | Garden | 1986 | NAP | 168 | Units |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | OH | 45324 | Multifamily | Garden | 1971 | 2025 | 128 | Units |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | WA | 98201 | Multifamily | Low Rise | 2022-2023 | NAP | 60 | Units |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | CA | 95823 | Multifamily | Garden | 1973 | NAP | 138 | Units |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NC | 28262 | Multifamily | Garden | 2000 | 2023 | 96 | Units |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | CA | 94102 | Multifamily | Mid Rise | 1922 | 2025 | 17 | Units |
| 23 | Loan | 16, 23 | 1 | Colby Heights | WA | 98201 | Multifamily | Mid Rise | 2025 | NAP | 29 | Units |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | MA | Various | Multifamily | Garden | Various | NAP | 77 | Units |
| 24.01 | Property | 1 | Little River | MA | 01085 | Multifamily | Garden | 1958, 1987 | NAP | 31 | Units | |
| 24.02 | Property | 1 | Tekoa Apartments | MA | 01085 | Multifamily | Garden | 1850, 1965 | NAP | 25 | Units | |
| 24.03 | Property | 1 | DeVille Apartments | MA | 01108 | Multifamily | Garden | 1963 | NAP | 21 | Units | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | WA | 98499 | Multifamily | Garden | 2005 | 2017 | 37 | Units |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | TN | 37212 | Multifamily | Mid Rise | 2015 | NAP | 36 | Units |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | MI | 48912 | Multifamily | Mid Rise | 1922 | 2017 | 42 | Units |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | ID | 83704 | Multifamily | Garden | 1964 | 2021-2026 | 45 | Units |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | TX | 77099 | Multifamily | Garden | 2018 | NAP | 81 | Units |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | IN | 46226 | Multifamily | Garden | 1970 | 2022 | 72 | Units |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | TX | 79901 | Multifamily | Mid Rise | 2017 | NAP | 87 | Units |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | KY | 41011 | Multifamily | Garden | 1904-1907 | 2011 | 58 | Units |
| 33 | Loan | 14 | 1 | Almeda Apartments | FL | 32209 | Multifamily | Garden | 1969 | 2017-2018 | 76 | Units |
| 34 | Loan | 17 | 1 | Pompano Flats | FL | 33060 | Multifamily | Garden | 1959 | 2021, 2025 | 26 | Units |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | GA | 31904 | Multifamily | Garden | 1975 | NAP | 80 | Units |
| 36 | Loan | 14, 22 | 1 | The Virginian | GA | 30306 | Multifamily | Garden | 1928 | NAP | 28 | Units |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | OR | 97603 | Manufactured Housing | Manufactured Housing | 1995 | NAP | 93 | Pads |
| 38 | Loan | 14 | 1 | Springdale Apartments | TX | 76111 | Multifamily | Garden | 1970 | 2019 | 100 | Units |
| A-1-2 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Loan Per Unit ($) | Original Balance ($) | Cut-off Date Balance ($) | Maturity/ARD Balance ($) | Interest Rate % | Administrative Fee Rate % | Net Mortgage Rate % | Monthly Debt Service (P&I) ($) |
| 10 | 10 | 1, 12 | 2, 13 | |||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 74,803.15 | 47,500,000 | 47,500,000 | 47,500,000 | 5.91000% | 0.09286% | 5.81714% | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 154,255.32 | 43,500,000 | 43,500,000 | 43,500,000 | 6.17000% | 0.14286% | 6.02714% | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 140,863.28 | 36,061,000 | 36,061,000 | 36,061,000 | 6.22000% | 0.14286% | 6.07714% | NAP |
| 3.01 | Property | 1 | Meadowlands | 8,850,671 | 8,850,671 | 8,850,671 | ||||||
| 3.02 | Property | 1 | Ecology | 7,972,919 | 7,972,919 | 7,972,919 | ||||||
| 3.03 | Property | 1 | Honeysuckle | 6,071,122 | 6,071,122 | 6,071,122 | ||||||
| 3.04 | Property | 1 | Windwood | 4,608,201 | 4,608,201 | 4,608,201 | ||||||
| 3.05 | Property | 1 | Brooks Duplexes | 4,096,178 | 4,096,178 | 4,096,178 | ||||||
| 3.06 | Property | 1 | Clevenger | 2,998,988 | 2,998,988 | 2,998,988 | ||||||
| 3.07 | Property | 1 | Fountains | 1,462,921 | 1,462,921 | 1,462,921 | ||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 175,300.00 | 33,307,000 | 33,307,000 | 33,307,000 | 6.36000% | 0.14286% | 6.21714% | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 183,333.33 | 33,000,000 | 33,000,000 | 33,000,000 | 5.66000% | 0.11286% | 5.54714% | NAP |
| 5.01 | Property | 1 | Chestnut Woods | 18,109,756 | 18,109,756 | 18,109,756 | ||||||
| 5.02 | Property | 1 | Chestnut Crossing | 14,890,244 | 14,890,244 | 14,890,244 | ||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 125,166.67 | 29,289,000 | 29,289,000 | 29,289,000 | 6.42000% | 0.14286% | 6.27714% | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 158,680.56 | 22,850,000 | 22,850,000 | 22,850,000 | 5.96900% | 0.02411% | 5.94489% | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 80,714.29 | 22,600,000 | 22,600,000 | 22,600,000 | 6.89100% | 0.02411% | 6.86689% | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 261,904.76 | 22,000,000 | 22,000,000 | 22,000,000 | 6.28200% | 0.02411% | 6.25789% | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 142,309.73 | 16,081,000 | 16,081,000 | 16,081,000 | 6.54000% | 0.17286% | 6.36714% | NAP |
| 10.01 | Property | 1 | University Gardens | 12,216,039 | 12,216,039 | 12,216,039 | ||||||
| 10.02 | Property | 1 | Normandy Apartments | 3,864,961 | 3,864,961 | 3,864,961 | ||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 99,771.24 | 15,265,000 | 15,265,000 | 15,265,000 | 6.46000% | 0.02411% | 6.43589% | NAP |
| 11.01 | Property | 1 | Cove Harbor | 9,294,848 | 9,294,848 | 9,294,848 | ||||||
| 11.02 | Property | 1 | Harbor Oak | 5,970,152 | 5,970,152 | 5,970,152 | ||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 126,090.91 | 15,257,000 | 15,257,000 | 15,257,000 | 6.38000% | 0.14286% | 6.23714% | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | 233,870.97 | 14,500,000 | 14,500,000 | 14,500,000 | 6.33400% | 0.02411% | 6.30989% | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 110,144.00 | 13,768,000 | 13,768,000 | 13,768,000 | 6.51000% | 0.14286% | 6.36714% | NAP |
| 14.01 | Property | 1 | Olympia Manor | 6,939,072 | 6,939,072 | 6,939,072 | ||||||
| 14.02 | Property | 1 | Carriage House | 2,643,456 | 2,643,456 | 2,643,456 | ||||||
| 14.03 | Property | 1 | Town West Apartments | 2,423,168 | 2,423,168 | 2,423,168 | ||||||
| 14.04 | Property | 1 | Briarwood Place | 1,762,304 | 1,762,304 | 1,762,304 | ||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 132,211.54 | 13,750,000 | 13,750,000 | 13,750,000 | 6.81227% | 0.02411% | 6.78816% | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 130,368.93 | 13,428,000 | 13,428,000 | 13,428,000 | 5.95000% | 0.12286% | 5.82714% | NAP |
| 16.01 | Property | 1 | Delphene Manor | 3,858,964 | 3,858,964 | 3,858,964 | ||||||
| 16.02 | Property | 1 | 1142 West 17th Street | 3,523,077 | 3,523,077 | 3,523,077 | ||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | 3,276,760 | 3,276,760 | 3,276,760 | ||||||
| 16.04 | Property | 1 | 2849 San Marino Street | 2,769,198 | 2,769,198 | 2,769,198 | ||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 75,571.43 | 12,696,000 | 12,696,000 | 12,696,000 | 6.00000% | 0.14286% | 5.85714% | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 87,265.63 | 11,170,000 | 11,170,000 | 11,170,000 | 6.64000% | 0.12286% | 6.51714% | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 183,333.33 | 11,000,000 | 11,000,000 | 11,000,000 | 6.50100% | 0.02411% | 6.47689% | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 69,369.57 | 9,573,000 | 9,573,000 | 9,573,000 | 6.68000% | 0.17286% | 6.50714% | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 96,354.17 | 9,250,000 | 9,250,000 | 9,250,000 | 6.59000% | 0.17286% | 6.41714% | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 500,000.00 | 8,500,000 | 8,500,000 | 8,500,000 | 6.47500% | 0.07286% | 6.40214% | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 280,000.00 | 8,120,000 | 8,120,000 | 8,120,000 | 6.17700% | 0.02411% | 6.15289% | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 102,714.29 | 7,909,000 | 7,909,000 | 7,909,000 | 6.43000% | 0.17286% | 6.25714% | NAP |
| 24.01 | Property | 1 | Little River | 3,184,143 | 3,184,143 | 3,184,143 | ||||||
| 24.02 | Property | 1 | Tekoa Apartments | 2,567,857 | 2,567,857 | 2,567,857 | ||||||
| 24.03 | Property | 1 | DeVille Apartments | 2,157,000 | 2,157,000 | 2,157,000 | ||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 183,445.95 | 6,787,500 | 6,787,500 | 6,787,500 | 6.38900% | 0.02411% | 6.36489% | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 187,777.78 | 6,760,000 | 6,760,000 | 6,760,000 | 6.67000% | 0.17286% | 6.49714% | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 160,714.29 | 6,750,000 | 6,750,000 | 6,750,000 | 6.62250% | 0.02411% | 6.59839% | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 145,222.22 | 6,535,000 | 6,535,000 | 6,535,000 | 6.24000% | 0.17286% | 6.06714% | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 80,246.91 | 6,500,000 | 6,500,000 | 6,500,000 | 6.45000% | 0.14286% | 6.30714% | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 83,388.89 | 6,004,000 | 6,004,000 | 6,004,000 | 6.58000% | 0.14286% | 6.43714% | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 66,275.86 | 5,766,000 | 5,766,000 | 5,766,000 | 6.70000% | 0.17286% | 6.52714% | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 93,103.45 | 5,400,000 | 5,400,000 | 5,400,000 | 6.55000% | 0.17286% | 6.37714% | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | 64,000.00 | 4,864,000 | 4,864,000 | 4,864,000 | 6.51000% | 0.17286% | 6.33714% | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | 183,173.08 | 4,762,500 | 4,762,500 | 4,762,500 | 6.04600% | 0.02411% | 6.02189% | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 55,125.00 | 4,410,000 | 4,410,000 | 4,410,000 | 6.85000% | 0.17286% | 6.67714% | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | 157,250.00 | 4,403,000 | 4,403,000 | 4,403,000 | 7.09000% | 0.17286% | 6.91714% | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 47,311.83 | 4,400,000 | 4,400,000 | 4,400,000 | 6.51200% | 0.02411% | 6.48789% | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | 42,470.00 | 4,247,000 | 4,247,000 | 4,247,000 | 6.52000% | 0.14286% | 6.37714% | NAP |
| A-1-3 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Monthly Debt Service (IO) ($) | Annual Debt Service (P&I) ($) | Annual Debt Service (IO) ($) | Amortization Type | ARD Loan (Yes / No) | Interest Accrual Method | Original Interest-Only Period (Mos.) | Remaining Interest-Only Period (Mos.) |
| 13 | 2, 13 | 13 | ||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 237,186.63 | NAP | 2,846,239.56 | Interest Only | No | Actual/360 | 60 | 58 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 226,768.92 | NAP | 2,721,227.04 | Interest Only | No | Actual/360 | 60 | 58 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 189,512.24 | NAP | 2,274,146.88 | Interest Only | No | Actual/360 | 60 | 60 |
| 3.01 | Property | 1 | Meadowlands | |||||||||
| 3.02 | Property | 1 | Ecology | |||||||||
| 3.03 | Property | 1 | Honeysuckle | |||||||||
| 3.04 | Property | 1 | Windwood | |||||||||
| 3.05 | Property | 1 | Brooks Duplexes | |||||||||
| 3.06 | Property | 1 | Clevenger | |||||||||
| 3.07 | Property | 1 | Fountains | |||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 178,978.87 | NAP | 2,147,746.44 | Interest Only | No | Actual/360 | 60 | 59 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 157,811.81 | NAP | 1,893,741.72 | Interest Only | No | Actual/360 | 60 | 57 |
| 5.01 | Property | 1 | Chestnut Woods | |||||||||
| 5.02 | Property | 1 | Chestnut Crossing | |||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 158,872.49 | NAP | 1,906,469.88 | Interest Only | No | Actual/360 | 60 | 59 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 115,238.32 | NAP | 1,382,859.84 | Interest Only | No | Actual/360 | 60 | 56 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 131,583.01 | NAP | 1,578,996.12 | Interest Only | No | Actual/360 | 60 | 59 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 116,769.58 | NAP | 1,401,234.96 | Interest Only | No | Actual/360 | 60 | 58 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 88,858.69 | NAP | 1,066,304.28 | Interest Only | No | Actual/360 | 60 | 58 |
| 10.01 | Property | 1 | University Gardens | |||||||||
| 10.02 | Property | 1 | Normandy Apartments | |||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 83,317.92 | NAP | 999,815.04 | Interest Only | No | Actual/360 | 60 | 59 |
| 11.01 | Property | 1 | Cove Harbor | |||||||||
| 11.02 | Property | 1 | Harbor Oak | |||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 82,243.00 | NAP | 986,916.00 | Interest Only | No | Actual/360 | 60 | 57 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 77,598.83 | NAP | 931,185.96 | Interest Only | No | Actual/360 | 60 | 59 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 75,728.78 | NAP | 908,745.36 | Interest Only | No | Actual/360 | 60 | 56 |
| 14.01 | Property | 1 | Olympia Manor | |||||||||
| 14.02 | Property | 1 | Carriage House | |||||||||
| 14.03 | Property | 1 | Town West Apartments | |||||||||
| 14.04 | Property | 1 | Briarwood Place | |||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 79,141.39 | NAP | 949,696.68 | Interest Only | No | Actual/360 | 60 | 59 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 67,505.23 | NAP | 810,062.76 | Interest Only | No | Actual/360 | 60 | 59 |
| 16.01 | Property | 1 | Delphene Manor | |||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | |||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | |||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | |||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 64,361.67 | NAP | 772,340.04 | Interest Only | No | Actual/360 | 60 | 55 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 62,665.77 | NAP | 751,989.24 | Interest Only | No | Actual/360 | 60 | 59 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 60,420.17 | NAP | 725,042.04 | Interest Only | No | Actual/360 | 60 | 55 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 54,029.83 | NAP | 648,357.96 | Interest Only | No | Actual/360 | 60 | 58 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 51,503.44 | NAP | 618,041.28 | Interest Only | No | Actual/360 | 60 | 58 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 46,501.59 | NAP | 558,019.08 | Interest Only | No | Actual/360 | 60 | 58 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 42,378.22 | NAP | 508,538.64 | Interest Only | No | Actual/360 | 60 | 56 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 42,967.66 | NAP | 515,611.92 | Interest Only | No | Actual/360 | 60 | 59 |
| 24.01 | Property | 1 | Little River | |||||||||
| 24.02 | Property | 1 | Tekoa Apartments | |||||||||
| 24.03 | Property | 1 | DeVille Apartments | |||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 36,639.69 | NAP | 439,676.28 | Interest Only | No | Actual/360 | 60 | 58 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 38,096.20 | NAP | 457,154.40 | Interest Only | No | Actual/360 | 60 | 59 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 37,768.95 | NAP | 453,227.40 | Interest Only | No | Actual/360 | 60 | 59 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 34,453.97 | NAP | 413,447.64 | Interest Only | No | Actual/360 | 60 | 58 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 35,422.74 | NAP | 425,072.88 | Interest Only | No | Actual/360 | 60 | 57 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 33,379.18 | NAP | 400,550.16 | Interest Only | No | Actual/360 | 60 | 58 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 32,640.63 | NAP | 391,687.56 | Interest Only | No | Actual/360 | 60 | 57 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 29,884.38 | NAP | 358,612.56 | Interest Only | No | Actual/360 | 60 | 56 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 26,753.69 | NAP | 321,044.28 | Interest Only | No | Actual/360 | 60 | 60 |
| 34 | Loan | 17 | 1 | Pompano Flats | 24,328.33 | NAP | 291,939.96 | Interest Only | No | Actual/360 | 60 | 58 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 25,523.39 | NAP | 306,280.68 | Interest Only | No | Actual/360 | 60 | 58 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 26,375.70 | NAP | 316,508.40 | Interest Only | No | Actual/360 | 60 | 58 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 24,208.96 | NAP | 290,507.52 | Interest Only | No | Actual/360 | 60 | 59 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 23,395.86 | NAP | 280,750.32 | Interest Only | No | Actual/360 | 60 | 59 |
| A-1-4 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Original Term To Maturity / ARD (Mos.) | Remaining Term To Maturity / ARD (Mos.) | Original Amortization Term (Mos.) | Remaining Amortization Term (Mos.) | Origination Date | Seasoning (Mos.) | Payment Due Date | First Payment Date |
| 1 | Loan | 22 | 1 | Midtown Towers | 60 | 58 | 0 | 0 | 8/17/2026 | 2 | 1 | 10/1/2026 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 60 | 58 | 0 | 0 | 8/19/2026 | 2 | 1 | 10/1/2026 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 60 | 60 | 0 | 0 | 10/14/2026 | 0 | 1 | 12/1/2026 |
| 3.01 | Property | 1 | Meadowlands | |||||||||
| 3.02 | Property | 1 | Ecology | |||||||||
| 3.03 | Property | 1 | Honeysuckle | |||||||||
| 3.04 | Property | 1 | Windwood | |||||||||
| 3.05 | Property | 1 | Brooks Duplexes | |||||||||
| 3.06 | Property | 1 | Clevenger | |||||||||
| 3.07 | Property | 1 | Fountains | |||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 60 | 59 | 0 | 0 | 9/9/2026 | 1 | 1 | 11/1/2026 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 60 | 57 | 0 | 0 | 7/13/2026 | 3 | 1 | 9/1/2026 |
| 5.01 | Property | 1 | Chestnut Woods | |||||||||
| 5.02 | Property | 1 | Chestnut Crossing | |||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 60 | 59 | 0 | 0 | 9/30/2026 | 1 | 1 | 11/1/2026 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 60 | 56 | 0 | 0 | 7/1/2026 | 4 | 6 | 8/6/2026 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 60 | 59 | 0 | 0 | 9/8/2026 | 1 | 6 | 11/6/2026 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 60 | 58 | 0 | 0 | 8/26/2026 | 2 | 6 | 10/6/2026 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 60 | 58 | 0 | 0 | 8/11/2026 | 2 | 1 | 10/1/2026 |
| 10.01 | Property | 1 | University Gardens | |||||||||
| 10.02 | Property | 1 | Normandy Apartments | |||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 60 | 59 | 0 | 0 | 9/25/2026 | 1 | 6 | 11/6/2026 |
| 11.01 | Property | 1 | Cove Harbor | |||||||||
| 11.02 | Property | 1 | Harbor Oak | |||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 60 | 57 | 0 | 0 | 7/9/2026 | 3 | 1 | 9/1/2026 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 60 | 59 | 0 | 0 | 9/25/2026 | 1 | 6 | 11/6/2026 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 60 | 56 | 0 | 0 | 6/25/2026 | 4 | 1 | 8/1/2026 |
| 14.01 | Property | 1 | Olympia Manor | |||||||||
| 14.02 | Property | 1 | Carriage House | |||||||||
| 14.03 | Property | 1 | Town West Apartments | |||||||||
| 14.04 | Property | 1 | Briarwood Place | |||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 60 | 59 | 0 | 0 | 10/2/2026 | 1 | 6 | 11/6/2026 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 60 | 59 | 0 | 0 | 9/11/2026 | 1 | 1 | 11/1/2026 |
| 16.01 | Property | 1 | Delphene Manor | |||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | |||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | |||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | |||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 60 | 55 | 0 | 0 | 5/29/2026 | 5 | 1 | 7/1/2026 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 60 | 59 | 0 | 0 | 9/18/2026 | 1 | 1 | 11/1/2026 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 60 | 55 | 0 | 0 | 5/22/2026 | 5 | 6 | 7/6/2026 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 60 | 58 | 0 | 0 | 9/1/2026 | 2 | 1 | 10/1/2026 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 60 | 58 | 0 | 0 | 8/3/2026 | 2 | 1 | 10/1/2026 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 60 | 58 | 0 | 0 | 8/19/2026 | 2 | 11 | 10/11/2026 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 60 | 56 | 0 | 0 | 6/26/2026 | 4 | 6 | 8/6/2026 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 60 | 59 | 0 | 0 | 9/8/2026 | 1 | 1 | 11/1/2026 |
| 24.01 | Property | 1 | Little River | |||||||||
| 24.02 | Property | 1 | Tekoa Apartments | |||||||||
| 24.03 | Property | 1 | DeVille Apartments | |||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 60 | 58 | 0 | 0 | 8/13/2026 | 2 | 6 | 10/6/2026 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 60 | 59 | 0 | 0 | 9/30/2026 | 1 | 1 | 11/1/2026 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 60 | 59 | 0 | 0 | 10/5/2026 | 1 | 6 | 11/6/2026 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 60 | 58 | 0 | 0 | 8/28/2026 | 2 | 1 | 10/1/2026 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 60 | 57 | 0 | 0 | 7/31/2026 | 3 | 1 | 9/1/2026 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 60 | 58 | 0 | 0 | 8/28/2026 | 2 | 1 | 10/1/2026 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 60 | 57 | 0 | 0 | 7/31/2026 | 3 | 1 | 9/1/2026 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 60 | 56 | 0 | 0 | 6/17/2026 | 4 | 1 | 8/1/2026 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 60 | 60 | 0 | 0 | 10/6/2026 | 0 | 1 | 12/1/2026 |
| 34 | Loan | 17 | 1 | Pompano Flats | 60 | 58 | 0 | 0 | 8/21/2026 | 2 | 6 | 10/6/2026 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 60 | 58 | 0 | 0 | 8/14/2026 | 2 | 1 | 10/1/2026 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 60 | 58 | 0 | 0 | 9/1/2026 | 2 | 1 | 10/1/2026 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 60 | 59 | 0 | 0 | 9/8/2026 | 1 | 6 | 11/6/2026 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 60 | 59 | 0 | 0 | 9/25/2026 | 1 | 1 | 11/1/2026 |
| A-1-5 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | First P&I Payment Date | Maturity Date or Anticipated Repayment Date | Final Maturity Date | Grace Period - Late Fee (Days) | Grace Period - Default (Days) | Prepayment Provision | Most Recent EGI ($) |
| 17 | 17 | 3, 18 | |||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 8,761,546 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 4,778,455 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | 11/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 4,208,519 |
| 3.01 | Property | 1 | Meadowlands | NAV | |||||||
| 3.02 | Property | 1 | Ecology | NAV | |||||||
| 3.03 | Property | 1 | Honeysuckle | NAV | |||||||
| 3.04 | Property | 1 | Windwood | NAV | |||||||
| 3.05 | Property | 1 | Brooks Duplexes | NAV | |||||||
| 3.06 | Property | 1 | Clevenger | NAV | |||||||
| 3.07 | Property | 1 | Fountains | NAV | |||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 4,058,327 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | 8/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 4,539,306 |
| 5.01 | Property | 1 | Chestnut Woods | NAV | |||||||
| 5.02 | Property | 1 | Chestnut Crossing | NAV | |||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 4,276,267 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | 7/6/2031 | NAP | 5 (Once per loan term) | 0 | L(12),YM1(44),O(4) | 2,608,605 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | 10/6/2031 | NAP | 0 | 0 | YM1(56),O(4) | 4,111,610 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | 9/6/2031 | NAP | 0 | 0 | L(26),D(30),O(4) | 1,970,432 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 2,249,275 |
| 10.01 | Property | 1 | University Gardens | NAV | |||||||
| 10.02 | Property | 1 | Normandy Apartments | NAV | |||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | 10/6/2031 | NAP | 10 (Twice per loan term) | 0 | L(12),YM1(44),O(4) | 2,290,930 |
| 11.01 | Property | 1 | Cove Harbor | NAV | |||||||
| 11.02 | Property | 1 | Harbor Oak | NAV | |||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | 8/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 2,182,082 |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | 10/6/2031 | NAP | 0 | 0 | L(25),D(31),O(4) | 1,150,757 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | 7/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 2,053,243 |
| 14.01 | Property | 1 | Olympia Manor | NAV | |||||||
| 14.02 | Property | 1 | Carriage House | NAV | |||||||
| 14.03 | Property | 1 | Town West Apartments | NAV | |||||||
| 14.04 | Property | 1 | Briarwood Place | NAV | |||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | 10/6/2031 | NAP | 0 | 0 | L(25),D(28),O(7) | 2,036,965 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,715,546 |
| 16.01 | Property | 1 | Delphene Manor | NAV | |||||||
| 16.02 | Property | 1 | 1142 West 17th Street | NAV | |||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAV | |||||||
| 16.04 | Property | 1 | 2849 San Marino Street | NAV | |||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | 6/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 2,471,560 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,633,884 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | 6/6/2031 | NAP | 0 | 0 | L(29),D(26),O(5) | 1,050,882 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,787,461 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | 9/1/2031 | NAP | 15 | 0 | YM1(56),O(4) | 1,235,351 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | 9/11/2031 | NAP | 5 (Once per loan term) | 0 | L(26),D(30),O(4) | 595,528 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | 7/6/2031 | NAP | 0 | 0 | L(28),D(25),O(7) | 527,501 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,129,559 |
| 24.01 | Property | 1 | Little River | NAV | |||||||
| 24.02 | Property | 1 | Tekoa Apartments | NAV | |||||||
| 24.03 | Property | 1 | DeVille Apartments | NAV | |||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | 9/6/2031 | NAP | 0 | 0 | L(26),D(27),O(7) | 987,411 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(53),O(7) | 1,008,208 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | 10/6/2031 | NAP | 5 (Once per loan term) | 0 | L(25),D(28),O(7) | 954,104 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 777,446 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | 8/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,167,772 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 785,197 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | 8/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,050,829 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | 7/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 889,819 |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | 11/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 801,980 |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | 9/6/2031 | NAP | 5 (Once per loan term) | 0 | L(26),D(30),O(4) | 658,432 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 828,537 |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | 9/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 625,645 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | 10/6/2031 | NAP | 0 | 0 | L(25),D(28),O(7) | 545,326 |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | 10/1/2031 | NAP | 10 | 0 | YM1(56),O(4) | 1,417,505 |
| A-1-6 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Most Recent Expenses ($) | Most Recent NOI ($) | Most Recent NOI Date | Most Recent Description | Second Most Recent EGI ($) | Second Most Recent Expenses ($) | Second Most Recent NOI ($) | Second Most Recent NOI Date |
| 16, 23 | 23 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 3,625,321 | 5,136,225 | 5/31/2026 | T-12 | 8,736,718 | 3,570,846 | 5,165,873 | 12/31/2025 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 2,078,311 | 2,700,144 | 6/30/2026 | T-12 | 2,401,250 | 1,558,206 | 843,044 | 12/31/2025 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 815,388 | 3,393,131 | 7/31/2026 | T-12 | 4,153,732 | 816,276 | 3,337,456 | 12/31/2025 |
| 3.01 | Property | 1 | Meadowlands | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.02 | Property | 1 | Ecology | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.03 | Property | 1 | Honeysuckle | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.04 | Property | 1 | Windwood | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.05 | Property | 1 | Brooks Duplexes | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.06 | Property | 1 | Clevenger | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.07 | Property | 1 | Fountains | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 1,337,742 | 2,720,585 | 7/31/2026 | T-12 | 3,859,950 | 1,361,243 | 2,498,707 | 12/31/2025 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 1,915,661 | 2,623,645 | 5/31/2026 | T-12 | 4,381,343 | 1,878,892 | 2,502,451 | 12/31/2025 |
| 5.01 | Property | 1 | Chestnut Woods | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 5.02 | Property | 1 | Chestnut Crossing | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 1,729,006 | 2,547,261 | 6/30/2026 | T-12 | 4,185,239 | 1,676,569 | 2,508,671 | 12/31/2025 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 927,459 | 1,681,146 | 4/30/2026 | T-12 | 2,539,917 | 930,603 | 1,609,314 | 12/31/2025 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 1,677,725 | 2,433,885 | 7/31/2026 | T-12 | 4,072,657 | 1,636,959 | 2,435,698 | 12/31/2025 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 364,502 | 1,605,930 | 7/31/2026 | T-12 | NAV | NAV | NAV | NAV |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 998,668 | 1,250,606 | 6/30/2026 | T-12 | 2,123,433 | 1,136,345 | 987,087 | 12/31/2025 |
| 10.01 | Property | 1 | University Gardens | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 10.02 | Property | 1 | Normandy Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 1,165,357 | 1,125,573 | 8/31/2026 | T-12 | NAV | NAV | NAV | NAV |
| 11.01 | Property | 1 | Cove Harbor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 11.02 | Property | 1 | Harbor Oak | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 1,057,876 | 1,124,206 | 4/30/2026 | T-12 | 2,075,422 | 1,149,804 | 925,618 | 12/31/2025 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 212,096 | 938,661 | 7/31/2026 | T-10 | NAV | NAV | NAV | NAV |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 752,867 | 1,300,377 | 12/31/2025 | T-12 | 1,920,794 | 573,068 | 1,347,725 | 12/31/2024 |
| 14.01 | Property | 1 | Olympia Manor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.02 | Property | 1 | Carriage House | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.03 | Property | 1 | Town West Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.04 | Property | 1 | Briarwood Place | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 1,119,010 | 917,954 | 8/31/2026 | T-12 | 2,018,382 | 1,075,203 | 943,179 | 12/31/2025 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 473,782 | 1,241,764 | 5/31/2026 | T-12 | 1,654,676 | 463,315 | 1,191,362 | 12/31/2025 |
| 16.01 | Property | 1 | Delphene Manor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 1,547,245 | 924,315 | 3/31/2026 | T-12 | 2,423,777 | 1,549,976 | 873,801 | 12/31/2025 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 640,147 | 993,736 | 7/31/2026 | T-12 | 1,454,876 | 439,917 | 1,014,959 | 12/31/2025 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 218,891 | 831,992 | 3/31/2026 | T-12 | 1,015,519 | 221,531 | 793,988 | 12/31/2025 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 1,078,534 | 708,926 | 3/31/2026 | T-12 | NAV | NAV | NAV | NAV |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 558,255 | 677,096 | 4/30/2026 | T-9 Ann. | 954,236 | 620,052 | 334,184 | 12/31/2024 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 234,992 | 360,535 | 5/31/2026 | T-12 | NAV | NAV | NAV | NAV |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 114,863 | 412,639 | 5/31/2026 | T-5 Ann. | NAV | NAV | NAV | NAV |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 443,777 | 685,783 | 5/31/2026 | T-12 | 1,108,863 | 413,492 | 695,371 | 12/31/2025 |
| 24.01 | Property | 1 | Little River | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 24.02 | Property | 1 | Tekoa Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 24.03 | Property | 1 | DeVille Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 378,669 | 608,742 | 6/30/2026 | T-12 | 961,276 | 362,556 | 598,720 | 12/31/2025 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 453,638 | 554,570 | 7/31/2026 | T-12 | 957,469 | 436,606 | 520,863 | 12/31/2025 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 411,178 | 542,926 | 8/31/2026 | T-12 | 833,660 | 420,228 | 413,432 | 12/31/2025 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 293,481 | 483,965 | 6/30/2026 | T-12 | NAV | NAV | NAV | NAV |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 696,037 | 471,735 | 6/30/2026 | T-12 | NAV | NAV | NAV | NAV |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 249,033 | 536,164 | 4/30/2026 | T-12 | 797,826 | 259,060 | 538,765 | 12/31/2025 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 414,256 | 636,573 | 2/28/2026 | T-12 | NAV | NAV | NAV | NAV |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 371,732 | 518,087 | 4/30/2026 | T-12 | 859,644 | 372,593 | 487,050 | 12/31/2025 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 221,330 | 580,650 | 6/30/2026 | T-12 | NAV | NAV | NAV | NAV |
| 34 | Loan | 17 | 1 | Pompano Flats | 156,917 | 501,515 | 7/31/2026 | T-12 | 584,919 | 158,973 | 425,947 | 12/31/2025 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 229,990 | 598,547 | 6/30/2026 | T-12 | 783,157 | 233,090 | 550,067 | 12/31/2025 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 228,554 | 397,091 | 7/31/2026 | T-12 | 625,484 | 387,363 | 238,120 | 12/31/2025 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 176,217 | 369,108 | 6/30/2026 | T-12 | 494,786 | 183,052 | 311,734 | 12/31/2025 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 991,319 | 426,186 | 6/30/2026 | T-12 | NAV | NAV | NAV | NAV |
| A-1-7 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Second Most Recent Description | Third Most Recent EGI ($) | Third Most Recent Expenses ($) | Third Most Recent NOI ($) | Third Most Recent NOI Date | Third Most Recent Description | Underwritten Economic Occupancy (%) |
| 23 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | T-12 | 6,562,149 | 2,661,148 | 3,901,001 | 12/31/2024 | T-12 | 91.8% |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | T-12 | NAV | NAV | NAV | NAV | NAV | 86.3% |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | T-12 | 3,894,163 | 744,105 | 3,150,058 | 12/31/2024 | T-12 | 95.0% |
| 3.01 | Property | 1 | Meadowlands | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.02 | Property | 1 | Ecology | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.03 | Property | 1 | Honeysuckle | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.04 | Property | 1 | Windwood | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.05 | Property | 1 | Brooks Duplexes | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.06 | Property | 1 | Clevenger | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 3.07 | Property | 1 | Fountains | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | T-12 | 3,658,310 | 1,327,305 | 2,331,005 | 12/31/2024 | T-12 | 90.5% |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | T-12 | 4,125,485 | 1,621,875 | 2,503,610 | 12/31/2024 | T-12 | 94.0% |
| 5.01 | Property | 1 | Chestnut Woods | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 5.02 | Property | 1 | Chestnut Crossing | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | T-12 | 4,609,263 | 1,854,888 | 2,754,375 | 12/31/2024 | T-12 | 86.8% |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | T-12 | 2,389,026 | 917,303 | 1,471,723 | 12/31/2024 | T-12 | 95.0% |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | T-12 | 3,000,527 | 1,709,783 | 1,290,744 | 12/31/2024 | T-12 | 89.6% |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | T-12 | 2,096,714 | 1,051,733 | 1,044,982 | 12/31/2024 | T-12 | 94.0% |
| 10.01 | Property | 1 | University Gardens | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 10.02 | Property | 1 | Normandy Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAV | NAV | NAV | NAV | NAV | NAV | 91.5% |
| 11.01 | Property | 1 | Cove Harbor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 11.02 | Property | 1 | Harbor Oak | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | T-12 | 2,167,363 | 1,021,151 | 1,146,212 | 12/31/2024 | T-12 | 94.3% |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | T-12 | NAV | NAV | NAV | NAV | NAV | 94.0% |
| 14.01 | Property | 1 | Olympia Manor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.02 | Property | 1 | Carriage House | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.03 | Property | 1 | Town West Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 14.04 | Property | 1 | Briarwood Place | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | T-12 | NAV | NAV | NAV | NAV | NAV | 94.5% |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | T-12 | 1,564,109 | 479,978 | 1,084,131 | 12/31/2024 | T-12 | 95.0% |
| 16.01 | Property | 1 | Delphene Manor | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | T-12 | 2,502,699 | 1,398,502 | 1,104,197 | 12/31/2024 | T-12 | 87.5% |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | T-12 | 1,211,159 | 564,907 | 646,253 | 10/31/2024 | T-12 | 95.0% |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | T-12 | 1,097,072 | 201,055 | 896,017 | 12/31/2024 | T-12 | 95.0% |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAV | NAV | NAV | NAV | NAV | NAV | 91.7% |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | T-12 | NAV | NAV | NAV | NAV | NAV | 91.5% |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | T-12 | 660,880 | 289,438 | 371,441 | 12/31/2024 | T-12 | 95.0% |
| 24.01 | Property | 1 | Little River | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 24.02 | Property | 1 | Tekoa Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 24.03 | Property | 1 | DeVille Apartments | NAV | NAV | NAV | NAV | NAV | NAV | NAV | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | T-12 | 870,049 | 365,490 | 504,559 | 12/31/2024 | T-12 | 95.0% |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | T-12 | 933,346 | 270,542 | 662,803 | 12/31/2024 | T-12 | 94.4% |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | T-12 | 702,860 | 386,917 | 315,942 | 12/31/2024 | T-12 | 94.0% |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAV | NAV | NAV | NAV | NAV | NAV | 94.9% |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAV | NAV | NAV | NAV | NAV | NAV | 91.0% |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | T-12 | 767,006 | 264,195 | 502,811 | 12/31/2024 | T-12 | 93.8% |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAV | NAV | NAV | NAV | NAV | NAV | 95.0% |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | T-12 | 834,300 | 348,885 | 485,415 | 12/31/2024 | T-12 | 95.0% |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAV | NAV | NAV | NAV | NAV | NAV | 94.0% |
| 34 | Loan | 17 | 1 | Pompano Flats | T-12 | 469,814 | 158,791 | 311,023 | 12/31/2024 | T-12 | 95.0% |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | T-12 | NAV | NAV | NAV | NAV | NAV | 89.6% |
| 36 | Loan | 14, 22 | 1 | The Virginian | T-12 | 642,814 | 417,803 | 225,011 | 12/31/2024 | T-12 | 94.1% |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | T-12 | 445,974 | 131,334 | 314,640 | 12/31/2024 | T-12 | 85.3% |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAV | NAV | NAV | NAV | NAV | NAV | 94.6% |
| A-1-8 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten EGI ($) | Underwritten Expenses ($) | Underwritten Net Operating Income ($) | Underwritten Replacement / FF&E Reserve ($) | Underwritten TI / LC ($) | Underwritten Net Cash Flow ($) | Underwritten NOI DSCR (x) |
| 16 | 4, 13 | ||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 8,861,553 | 3,762,375 | 5,099,178 | 175,895 | 0 | 4,923,283 | 1.79 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 5,650,809 | 2,313,419 | 3,337,390 | 56,399 | 0 | 3,280,991 | 1.23 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 4,185,307 | 1,066,247 | 3,119,060 | 64,000 | 0 | 3,055,060 | 1.37 |
| 3.01 | Property | 1 | Meadowlands | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.02 | Property | 1 | Ecology | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.03 | Property | 1 | Honeysuckle | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.04 | Property | 1 | Windwood | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.05 | Property | 1 | Brooks Duplexes | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.06 | Property | 1 | Clevenger | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 3.07 | Property | 1 | Fountains | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 4,439,754 | 1,472,898 | 2,966,856 | 47,500 | 0 | 2,919,356 | 1.38 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 4,514,008 | 1,559,077 | 2,954,931 | 45,000 | 0 | 2,909,931 | 1.56 |
| 5.01 | Property | 1 | Chestnut Woods | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 5.02 | Property | 1 | Chestnut Crossing | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 4,443,529 | 1,806,354 | 2,637,175 | 58,500 | 0 | 2,578,675 | 1.38 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 2,632,948 | 944,377 | 1,688,571 | 36,000 | 0 | 1,652,571 | 1.22 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 4,133,936 | 2,008,849 | 2,125,086 | 70,000 | 0 | 2,055,086 | 1.35 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 2,397,710 | 451,854 | 1,945,856 | 21,000 | 0 | 1,924,856 | 1.39 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 2,296,270 | 991,265 | 1,305,005 | 28,250 | 0 | 1,276,755 | 1.22 |
| 10.01 | Property | 1 | University Gardens | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 10.02 | Property | 1 | Normandy Apartments | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 2,432,607 | 1,061,206 | 1,371,401 | 45,813 | 0 | 1,325,588 | 1.37 |
| 11.01 | Property | 1 | Cove Harbor | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 11.02 | Property | 1 | Harbor Oak | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 2,297,472 | 1,001,239 | 1,296,233 | 30,250 | 0 | 1,265,983 | 1.31 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 1,710,292 | 422,782 | 1,287,510 | 15,500 | 0 | 1,272,010 | 1.38 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 2,048,366 | 798,558 | 1,249,808 | 31,250 | 0 | 1,218,558 | 1.38 |
| 14.01 | Property | 1 | Olympia Manor | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 14.02 | Property | 1 | Carriage House | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 14.03 | Property | 1 | Town West Apartments | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 14.04 | Property | 1 | Briarwood Place | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 2,124,163 | 859,047 | 1,265,117 | 10,400 | 0 | 1,254,717 | 1.33 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 1,702,390 | 588,009 | 1,114,380 | 26,059 | 0 | 1,088,321 | 1.38 |
| 16.01 | Property | 1 | Delphene Manor | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 16.02 | Property | 1 | 1142 West 17th Street | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 16.04 | Property | 1 | 2849 San Marino Street | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 2,622,486 | 1,517,839 | 1,104,647 | 42,000 | 0 | 1,062,647 | 1.43 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 1,731,900 | 701,356 | 1,030,544 | 32,000 | 0 | 998,544 | 1.37 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 1,127,472 | 187,725 | 939,746 | 6,000 | 0 | 933,746 | 1.30 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 1,787,461 | 809,288 | 978,173 | 34,500 | 0 | 943,673 | 1.51 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 1,347,259 | 497,367 | 849,891 | 24,000 | 0 | 825,891 | 1.38 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 1,064,475 | 331,815 | 732,660 | 4,250 | 0 | 728,410 | 1.31 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 770,343 | 109,151 | 661,192 | 2,900 | 0 | 658,292 | 1.30 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 1,145,543 | 416,933 | 728,610 | 19,250 | 0 | 709,360 | 1.41 |
| 24.01 | Property | 1 | Little River | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 24.02 | Property | 1 | Tekoa Apartments | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 24.03 | Property | 1 | DeVille Apartments | NAV | NAV | NAV | NAV | NAV | NAV | ||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 1,040,973 | 378,365 | 662,608 | 11,322 | 13,769 | 637,517 | 1.51 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 1,004,908 | 414,709 | 590,199 | 9,000 | 0 | 581,199 | 1.29 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 1,050,421 | 400,071 | 650,350 | 24,923 | 0 | 625,427 | 1.43 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 809,541 | 249,028 | 560,514 | 11,250 | 0 | 549,264 | 1.36 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 1,266,487 | 678,316 | 588,171 | 20,250 | 0 | 567,921 | 1.38 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 819,326 | 273,944 | 545,382 | 18,000 | 0 | 527,382 | 1.36 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 1,094,099 | 552,160 | 541,939 | 21,750 | 0 | 520,189 | 1.38 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 901,956 | 394,303 | 507,653 | 14,500 | 0 | 493,153 | 1.42 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 829,231 | 342,756 | 486,475 | 19,000 | 0 | 467,475 | 1.52 |
| 34 | Loan | 17 | 1 | Pompano Flats | 659,353 | 197,746 | 461,607 | 6,500 | 0 | 455,107 | 1.58 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 827,691 | 343,906 | 483,784 | 20,000 | 0 | 463,784 | 1.58 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 625,645 | 197,607 | 428,038 | 7,000 | 0 | 421,038 | 1.35 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 580,970 | 205,201 | 375,768 | 2,790 | 0 | 372,978 | 1.29 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 1,399,454 | 974,946 | 424,508 | 35,900 | 0 | 388,608 | 1.51 |
| A-1-9 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Underwritten NCF DSCR (x) | Underwritten NOI Debt Yield (%) | Underwritten NCF Debt Yield (%) | Appraised Value ($) | Appraised Value Type | Appraisal Date | Cut-off Date LTV Ratio (%) |
| 4, 13 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 1.73 | 10.7% | 10.4% | 77,400,000 | As Is | 6/9/2026 | 61.4% |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 1.21 | 7.7% | 7.5% | 66,400,000 | As Is | 6/24/2026 | 65.5% |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 1.34 | 8.6% | 8.5% | 49,300,000 | As Is | Various | 73.1% |
| 3.01 | Property | 1 | Meadowlands | 12,100,000 | As Is | 6/30/2026 | |||||
| 3.02 | Property | 1 | Ecology | 10,900,000 | As Is | 7/1/2026 | |||||
| 3.03 | Property | 1 | Honeysuckle | 8,300,000 | As Is | 6/30/2026 | |||||
| 3.04 | Property | 1 | Windwood | 6,300,000 | As Is | 6/30/2026 | |||||
| 3.05 | Property | 1 | Brooks Duplexes | 5,600,000 | As Is | 7/1/2026 | |||||
| 3.06 | Property | 1 | Clevenger | 4,100,000 | As Is | 7/1/2026 | |||||
| 3.07 | Property | 1 | Fountains | 2,000,000 | As Is | 6/30/2026 | |||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 1.36 | 8.9% | 8.8% | 53,300,000 | As Is | 7/31/2026 | 62.5% |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 1.54 | 9.0% | 8.8% | 49,200,000 | As Is | 4/8/2026 | 67.1% |
| 5.01 | Property | 1 | Chestnut Woods | 27,000,000 | As Is | 4/8/2026 | |||||
| 5.02 | Property | 1 | Chestnut Crossing | 22,200,000 | As Is | 4/8/2026 | |||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 1.35 | 9.0% | 8.8% | 42,100,000 | As Is | 8/31/2026 | 69.6% |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 1.20 | 7.4% | 7.2% | 31,300,000 | As Is | 6/2/2026 | 73.0% |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 1.30 | 9.4% | 9.1% | 34,900,000 | As Is | 4/29/2026 | 64.8% |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 1.37 | 8.8% | 8.7% | 34,000,000 | As Is | 7/6/2026 | 64.7% |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 1.20 | 8.1% | 7.9% | 23,300,000 | As Is | 7/2/2026 | 69.0% |
| 10.01 | Property | 1 | University Gardens | 17,700,000 | As Is | 7/2/2026 | |||||
| 10.02 | Property | 1 | Normandy Apartments | 5,600,000 | As Is | 7/2/2026 | |||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 1.33 | 9.0% | 8.7% | 21,350,000 | As Is | 8/12/2026 | 71.5% |
| 11.01 | Property | 1 | Cove Harbor | 13,000,000 | As Is | 8/12/2026 | |||||
| 11.02 | Property | 1 | Harbor Oak | 8,350,000 | As Is | 8/12/2026 | |||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 1.28 | 8.5% | 8.3% | 20,500,000 | As Is | 5/28/2026 | 74.4% |
| 13 | Loan | 16, 23 | 1 | Prestige District | 1.37 | 8.9% | 8.8% | 20,100,000 | As Is | 7/14/2026 | 72.1% |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 1.34 | 9.1% | 8.9% | 19,200,000 | As Is | 4/27/2026 | 71.7% |
| 14.01 | Property | 1 | Olympia Manor | NAV | NAV | NAV | |||||
| 14.02 | Property | 1 | Carriage House | NAV | NAV | NAV | |||||
| 14.03 | Property | 1 | Town West Apartments | NAV | NAV | NAV | |||||
| 14.04 | Property | 1 | Briarwood Place | NAV | NAV | NAV | |||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 1.32 | 9.2% | 9.1% | 23,730,000 | As Is | 8/7/2026 | 57.9% |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 1.34 | 8.3% | 8.1% | 17,990,000 | As Is | 6/8/2026 | 74.6% |
| 16.01 | Property | 1 | Delphene Manor | 5,170,000 | As Is | 6/8/2026 | |||||
| 16.02 | Property | 1 | 1142 West 17th Street | 4,720,000 | As Is | 6/8/2026 | |||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | 4,390,000 | As Is | 6/8/2026 | |||||
| 16.04 | Property | 1 | 2849 San Marino Street | 3,710,000 | As Is | 6/8/2026 | |||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 1.38 | 8.7% | 8.4% | 21,200,000 | As Is | 4/16/2026 | 59.9% |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 1.33 | 9.2% | 8.9% | 15,900,000 | As Is | 8/4/2026 | 70.3% |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 1.29 | 8.5% | 8.5% | 16,185,000 | As Is | 3/30/2026 | 68.0% |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 1.46 | 10.2% | 9.9% | 13,400,000 | As Is | 7/8/2026 | 71.4% |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 1.34 | 9.2% | 8.9% | 12,500,000 | As Is | 6/9/2026 | 74.0% |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 1.31 | 8.6% | 8.6% | 12,750,000 | As Is | 6/8/2026 | 66.7% |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 1.29 | 8.1% | 8.1% | 11,600,000 | As Is | 2/12/2026 | 70.0% |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 1.38 | 9.2% | 9.0% | 10,670,000 | As Is | 7/13/2026 | 74.1% |
| 24.01 | Property | 1 | Little River | NAV | NAV | NAV | |||||
| 24.02 | Property | 1 | Tekoa Apartments | NAV | NAV | NAV | |||||
| 24.03 | Property | 1 | DeVille Apartments | NAV | NAV | NAV | |||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 1.45 | 9.8% | 9.4% | 9,360,000 | As Is | 7/8/2026 | 72.5% |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 1.27 | 8.7% | 8.6% | 11,100,000 | As Is | 8/12/2026 | 60.9% |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 1.38 | 9.6% | 9.3% | 10,000,000 | As Is | 7/18/2026 | 67.5% |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 1.33 | 8.6% | 8.4% | 8,870,000 | As Is | 7/24/2026 | 73.7% |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 1.34 | 9.0% | 8.7% | 10,400,000 | As Is | 6/15/2026 | 62.5% |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 1.32 | 9.1% | 8.8% | 8,200,000 | As Is | 6/17/2026 | 73.2% |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 1.33 | 9.4% | 9.0% | 9,900,000 | As Is | 6/22/2026 | 58.2% |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 1.38 | 9.4% | 9.1% | 7,400,000 | As Is | 4/29/2026 | 73.0% |
| 33 | Loan | 14 | 1 | Almeda Apartments | 1.46 | 10.0% | 9.6% | 7,000,000 | As Is | 7/8/2026 | 69.5% |
| 34 | Loan | 17 | 1 | Pompano Flats | 1.56 | 9.7% | 9.6% | 6,350,000 | As Is | 6/15/2026 | 75.0% |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 1.51 | 11.0% | 10.5% | 6,700,000 | As Is | 7/7/2026 | 65.8% |
| 36 | Loan | 14, 22 | 1 | The Virginian | 1.33 | 9.7% | 9.6% | 6,250,000 | As Is | 7/7/2026 | 70.4% |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 1.28 | 8.5% | 8.5% | 6,750,000 | As Is | 7/27/2026 | 65.2% |
| 38 | Loan | 14 | 1 | Springdale Apartments | 1.38 | 10.0% | 9.2% | 8,050,000 | As Is | 7/14/2026 | 52.8% |
| A-1-10 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | LTV Ratio at Maturity / ARD (%) | Leased Occupancy (%) | Occupancy Date | Single Tenant (Y/N) | Largest Tenant | Largest Tenant SF | Largest Tenant % of NRA |
| 5, 20, 24 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 61.4% | 94.2% | 6/30/2026 | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 65.5% | 94.3% | 7/15/2026 | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 73.1% | 98.8% | |||||
| 3.01 | Property | 1 | Meadowlands | 98.4% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.02 | Property | 1 | Ecology | 100.0% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.03 | Property | 1 | Honeysuckle | 97.7% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.04 | Property | 1 | Windwood | 97.1% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.05 | Property | 1 | Brooks Duplexes | 100.0% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.06 | Property | 1 | Clevenger | 100.0% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 3.07 | Property | 1 | Fountains | 100.0% | 9/9/2026 | NAP | NAP | NAP | NAP | ||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 62.5% | 91.6% | 8/14/2026 | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 67.1% | 98.3% | |||||
| 5.01 | Property | 1 | Chestnut Woods | 96.9% | 6/22/2026 | NAP | NAP | NAP | NAP | ||
| 5.02 | Property | 1 | Chestnut Crossing | 100.0% | 6/22/2026 | NAP | NAP | NAP | NAP | ||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 69.6% | 89.3% | 9/10/2026 | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 73.0% | 97.9% | 6/24/2026 | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 64.8% | 89.3% | 8/3/2026 | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 64.7% | 100.0% | 7/30/2026 | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 69.0% | 97.3% | |||||
| 10.01 | Property | 1 | University Gardens | 97.7% | 8/3/2026 | NAP | NAP | NAP | NAP | ||
| 10.02 | Property | 1 | Normandy Apartments | 96.0% | 8/3/2026 | NAP | NAP | NAP | NAP | ||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 71.5% | 91.5% | |||||
| 11.01 | Property | 1 | Cove Harbor | 94.9% | 9/10/2026 | NAP | NAP | NAP | NAP | ||
| 11.02 | Property | 1 | Harbor Oak | 85.2% | 9/10/2026 | NAP | NAP | NAP | NAP | ||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 74.4% | 95.9% | 6/4/2026 | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | 72.1% | 100.0% | 9/1/2026 | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 71.7% | 96.8% | |||||
| 14.01 | Property | 1 | Olympia Manor | 96.8% | 6/5/2026 | NAP | NAP | NAP | NAP | ||
| 14.02 | Property | 1 | Carriage House | 100.0% | 6/5/2026 | NAP | NAP | NAP | NAP | ||
| 14.03 | Property | 1 | Town West Apartments | 95.5% | 6/5/2026 | NAP | NAP | NAP | NAP | ||
| 14.04 | Property | 1 | Briarwood Place | 93.8% | 6/5/2026 | NAP | NAP | NAP | NAP | ||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 57.9% | 97.1% | 9/22/2026 | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 74.6% | 96.1% | |||||
| 16.01 | Property | 1 | Delphene Manor | 96.7% | 6/24/2026 | NAP | NAP | NAP | NAP | ||
| 16.02 | Property | 1 | 1142 West 17th Street | 92.9% | 6/24/2026 | NAP | NAP | NAP | NAP | ||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | 95.8% | 6/24/2026 | NAP | NAP | NAP | NAP | ||
| 16.04 | Property | 1 | 2849 San Marino Street | 100.0% | 6/24/2026 | NAP | NAP | NAP | NAP | ||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 59.9% | 91.7% | 5/1/2026 | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 70.3% | 96.9% | 8/17/2026 | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 68.0% | 98.3% | 5/14/2026 | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 71.4% | 94.2% | 8/1/2026 | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 74.0% | 96.9% | 5/11/2026 | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 66.7% | 100.0% | 8/3/2026 | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 70.0% | 96.6% | 5/31/2026 | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 74.1% | 98.7% | |||||
| 24.01 | Property | 1 | Little River | 100.0% | 8/6/2026 | NAP | NAP | NAP | NAP | ||
| 24.02 | Property | 1 | Tekoa Apartments | 96.0% | 8/6/2026 | NAP | NAP | NAP | NAP | ||
| 24.03 | Property | 1 | DeVille Apartments | 100.0% | 8/6/2026 | NAP | NAP | NAP | NAP | ||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 72.5% | 97.3% | 8/6/2026 | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 60.9% | 94.4% | 9/14/2026 | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 67.5% | 95.2% | 8/31/2026 | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 73.7% | 100.0% | 8/7/2026 | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 62.5% | 92.6% | 6/10/2026 | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 73.2% | 94.4% | 7/7/2026 | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 58.2% | 100.0% | 7/20/2026 | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 73.0% | 98.3% | 5/26/2026 | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | 69.5% | 96.1% | 9/1/2026 | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | 75.0% | 100.0% | 8/10/2026 | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 65.8% | 95.0% | 7/7/2026 | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | 70.4% | 100.0% | 8/3/2026 | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 65.2% | 86.0% | 8/31/2026 | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | 52.8% | 97.0% | 8/3/2026 | NAP | NAP | NAP | NAP |
| A-1-11 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Largest Tenant Lease Expiration Date | Second Largest Tenant | Second Largest Tenant SF | Second Largest Tenant % of NRA | Second Largest Tenant Lease Expiration Date | Third Largest Tenant | Third Largest Tenant SF | Third Largest Tenant % of NRA |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | ||||||||
| 3.01 | Property | 1 | Meadowlands | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.02 | Property | 1 | Ecology | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.03 | Property | 1 | Honeysuckle | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.04 | Property | 1 | Windwood | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.05 | Property | 1 | Brooks Duplexes | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.06 | Property | 1 | Clevenger | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.07 | Property | 1 | Fountains | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | ||||||||
| 5.01 | Property | 1 | Chestnut Woods | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 5.02 | Property | 1 | Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | ||||||||
| 10.01 | Property | 1 | University Gardens | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 10.02 | Property | 1 | Normandy Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | ||||||||
| 11.01 | Property | 1 | Cove Harbor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11.02 | Property | 1 | Harbor Oak | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | ||||||||
| 14.01 | Property | 1 | Olympia Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.02 | Property | 1 | Carriage House | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.03 | Property | 1 | Town West Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.04 | Property | 1 | Briarwood Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | ||||||||
| 16.01 | Property | 1 | Delphene Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | ||||||||
| 24.01 | Property | 1 | Little River | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.02 | Property | 1 | Tekoa Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.03 | Property | 1 | DeVille Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-12 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Third Largest Tenant Lease Expiration Date | Fourth Largest Tenant | Fourth Largest Tenant SF | Fourth Largest Tenant % of NRA | Fourth Largest Tenant Lease Expiration Date | Fifth Largest Tenant | Fifth Largest Tenant SF |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | |||||||
| 3.01 | Property | 1 | Meadowlands | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.02 | Property | 1 | Ecology | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.03 | Property | 1 | Honeysuckle | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.04 | Property | 1 | Windwood | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.05 | Property | 1 | Brooks Duplexes | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.06 | Property | 1 | Clevenger | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.07 | Property | 1 | Fountains | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | |||||||
| 5.01 | Property | 1 | Chestnut Woods | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 5.02 | Property | 1 | Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | |||||||
| 10.01 | Property | 1 | University Gardens | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 10.02 | Property | 1 | Normandy Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | |||||||
| 11.01 | Property | 1 | Cove Harbor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11.02 | Property | 1 | Harbor Oak | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | |||||||
| 14.01 | Property | 1 | Olympia Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.02 | Property | 1 | Carriage House | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.03 | Property | 1 | Town West Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.04 | Property | 1 | Briarwood Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | |||||||
| 16.01 | Property | 1 | Delphene Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | |||||||
| 24.01 | Property | 1 | Little River | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.02 | Property | 1 | Tekoa Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.03 | Property | 1 | DeVille Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-13 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Fifth Largest Tenant % of NRA | Fifth Largest Tenant Lease Expiration Date | Environmental Phase I Report Date | Environmental Phase II Report Date | Engineering Report Date | Seismic Report Date | PML or SEL (%) |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | 6/23/2026 | NAP | 6/22/2026 | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | 6/29/2026 | NAP | 6/29/2026 | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | |||||||
| 3.01 | Property | 1 | Meadowlands | NAP | NAP | 7/9/2026 | NAP | 7/9/2026 | NAP | NAP | |
| 3.02 | Property | 1 | Ecology | NAP | NAP | 7/13/2026 | NAP | 7/13/2026 | NAP | NAP | |
| 3.03 | Property | 1 | Honeysuckle | NAP | NAP | 7/10/2026 | NAP | 7/10/2026 | NAP | NAP | |
| 3.04 | Property | 1 | Windwood | NAP | NAP | 7/10/2026 | NAP | 7/10/2026 | NAP | NAP | |
| 3.05 | Property | 1 | Brooks Duplexes | NAP | NAP | 7/10/2026 | NAP | 7/9/2026 | NAP | NAP | |
| 3.06 | Property | 1 | Clevenger | NAP | NAP | 7/10/2026 | NAP | 7/10/2026 | NAP | NAP | |
| 3.07 | Property | 1 | Fountains | NAP | NAP | 7/13/2026 | NAP | 7/14/2026 | NAP | NAP | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | 7/31/2026 | NAP | 7/31/2026 | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | |||||||
| 5.01 | Property | 1 | Chestnut Woods | NAP | NAP | 4/17/2026 | NAP | 4/16/2026 | NAP | NAP | |
| 5.02 | Property | 1 | Chestnut Crossing | NAP | NAP | 4/16/2026 | NAP | 4/16/2026 | NAP | NAP | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | 9/10/2026 | NAP | 9/10/2026 | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | 5/20/2026 | NAP | 5/26/2026 | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | 5/21/2026 | NAP | 5/22/2026 | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | 2/12/2026 | NAP | 7/17/2026 | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | |||||||
| 10.01 | Property | 1 | University Gardens | NAP | NAP | 7/6/2026 | NAP | 7/6/2026 | 7/6/2026 | 15% | |
| 10.02 | Property | 1 | Normandy Apartments | NAP | NAP | 7/6/2026 | NAP | 7/6/2026 | 7/6/2026 | 15% | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | |||||||
| 11.01 | Property | 1 | Cove Harbor | NAP | NAP | 8/20/2026 | NAP | 8/20/2026 | NAP | NAP | |
| 11.02 | Property | 1 | Harbor Oak | NAP | NAP | 8/20/2026 | NAP | 8/20/2026 | NAP | NAP | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | 6/11/2026 | NAP | 6/11/2026 | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | 5/21/2026 | NAP | 6/17/2026 | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | |||||||
| 14.01 | Property | 1 | Olympia Manor | NAP | NAP | 5/7/2026 | NAP | 5/7/2026 | NAP | NAP | |
| 14.02 | Property | 1 | Carriage House | NAP | NAP | 5/7/2026 | NAP | 5/7/2026 | NAP | NAP | |
| 14.03 | Property | 1 | Town West Apartments | NAP | NAP | 5/7/2026 | NAP | 5/7/2026 | NAP | NAP | |
| 14.04 | Property | 1 | Briarwood Place | NAP | NAP | 5/7/2026 | NAP | 5/7/2026 | NAP | NAP | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | 8/21/2026 | NAP | 8/18/2026 | 8/21/2026 | 5% |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | |||||||
| 16.01 | Property | 1 | Delphene Manor | NAP | NAP | 3/11/2026 | NAP | 3/2/2026 | 3/11/2026 | 17% | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAP | NAP | 3/11/2026 | NAP | 3/2/2026 | 3/11/2026 | 17% | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAP | NAP | 3/10/2026 | NAP | 3/2/2026 | 3/12/2026 | 18% | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAP | NAP | 3/11/2026 | NAP | 3/2/2026 | 3/11/2026 | 16% | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | 4/23/2026 | NAP | 4/23/2026 | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | 8/12/2026 | NAP | 8/12/2026 | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | 4/13/2026 | NAP | 4/13/2026 | 4/13/2026 | 7% |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | 7/21/2026 | NAP | 7/21/2026 | 10/1/2026 | 8% |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | 6/17/2026 | NAP | 6/17/2026 | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | 6/17/2026 | NAP | 6/17/2026 | 6/17/2026 | 15% |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | 5/27/2026 | NAP | 5/27/2026 | 5/27/2026 | 5% |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | |||||||
| 24.01 | Property | 1 | Little River | NAP | NAP | 7/24/2026 | NAP | 7/24/2026 | NAP | NAP | |
| 24.02 | Property | 1 | Tekoa Apartments | NAP | NAP | 7/24/2026 | NAP | 7/24/2026 | NAP | NAP | |
| 24.03 | Property | 1 | DeVille Apartments | NAP | NAP | 7/24/2026 | NAP | 7/24/2026 | NAP | NAP | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | 7/21/2026 | NAP | 7/21/2026 | 7/21/2026 | 7% |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | 8/23/2026 | NAP | 8/23/2026 | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | 8/14/2026 | NAP | 8/6/2026 | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | 8/3/2026 | NAP | 8/3/2026 | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | 6/24/2026 | NAP | 6/24/2026 | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | 6/17/2026 | NAP | 6/17/2026 | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | 6/24/2026 | NAP | 6/24/2026 | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | 5/6/2026 | NAP | 5/6/2026 | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | 7/19/2026 | NAP | 7/19/2026 | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | 3/17/2026 | NAP | 3/17/2026 | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | 7/15/2026 | NAP | 7/15/2026 | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | 7/19/2026 | NAP | 7/19/2026 | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | 7/28/2026 | NAP | 7/28/2026 | 7/28/2026 | 5% |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | 7/22/2026 | NAP | 7/22/2026 | NAP | NAP |
| A-1-14 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Flood Zone | Ownership Interest | Ground Lease Expiration Date | Ground Lease Extension Terms | Annual Ground Lease Payment as of the Cut-off Date ($) | Annual Ground Rent Increases (Y/N) |
| 1 | Loan | 22 | 1 | Midtown Towers | No | Fee | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | No | Fee | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | ||||||
| 3.01 | Property | 1 | Meadowlands | No | Fee | NAP | NAP | NAP | NAP | |
| 3.02 | Property | 1 | Ecology | No | Fee | NAP | NAP | NAP | NAP | |
| 3.03 | Property | 1 | Honeysuckle | No | Fee | NAP | NAP | NAP | NAP | |
| 3.04 | Property | 1 | Windwood | No | Fee | NAP | NAP | NAP | NAP | |
| 3.05 | Property | 1 | Brooks Duplexes | No | Fee | NAP | NAP | NAP | NAP | |
| 3.06 | Property | 1 | Clevenger | Yes - AE | Fee | NAP | NAP | NAP | NAP | |
| 3.07 | Property | 1 | Fountains | No | Fee | NAP | NAP | NAP | NAP | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | No | Fee | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | ||||||
| 5.01 | Property | 1 | Chestnut Woods | No | Fee | NAP | NAP | NAP | NAP | |
| 5.02 | Property | 1 | Chestnut Crossing | No | Fee | NAP | NAP | NAP | NAP | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | No | Fee | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | Yes - AE | Fee | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | No | Fee | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | ||||||
| 10.01 | Property | 1 | University Gardens | No | Fee | NAP | NAP | NAP | NAP | |
| 10.02 | Property | 1 | Normandy Apartments | No | Fee | NAP | NAP | NAP | NAP | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | ||||||
| 11.01 | Property | 1 | Cove Harbor | Yes - AE | Fee | NAP | NAP | NAP | NAP | |
| 11.02 | Property | 1 | Harbor Oak | Yes - AE | Fee | NAP | NAP | NAP | NAP | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | No | Fee | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | No | Fee | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | ||||||
| 14.01 | Property | 1 | Olympia Manor | No | Fee | NAP | NAP | NAP | NAP | |
| 14.02 | Property | 1 | Carriage House | No | Fee | NAP | NAP | NAP | NAP | |
| 14.03 | Property | 1 | Town West Apartments | No | Fee | NAP | NAP | NAP | NAP | |
| 14.04 | Property | 1 | Briarwood Place | No | Fee | NAP | NAP | NAP | NAP | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | Yes - AE | Fee | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | ||||||
| 16.01 | Property | 1 | Delphene Manor | No | Fee | NAP | NAP | NAP | NAP | |
| 16.02 | Property | 1 | 1142 West 17th Street | No | Fee | NAP | NAP | NAP | NAP | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | No | Fee | NAP | NAP | NAP | NAP | |
| 16.04 | Property | 1 | 2849 San Marino Street | No | Fee | NAP | NAP | NAP | NAP | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | No | Fee | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | No | Fee | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | No | Fee | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | No | Fee | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | No | Fee | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | No | Fee | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | ||||||
| 24.01 | Property | 1 | Little River | No | Fee | NAP | NAP | NAP | NAP | |
| 24.02 | Property | 1 | Tekoa Apartments | No | Fee | NAP | NAP | NAP | NAP | |
| 24.03 | Property | 1 | DeVille Apartments | No | Fee | NAP | NAP | NAP | NAP | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | No | Fee | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | No | Fee | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | No | Fee | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | No | Fee | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | No | Fee | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | No | Fee | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | No | Fee | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | No | Fee | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | No | Fee | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | No | Fee | NAP | NAP | NAP | NAP |
| A-1-15 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront RE Tax Reserve ($) | Monthly RE Tax Reserve ($) | Upfront Insurance Reserve ($) | Monthly Insurance Reserve ($) | Upfront Replacement / PIP Reserve ($) | Monthly Replacement / FF&E Reserve ($) | Replacement Reserve Caps ($) |
| 22 | |||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 112,180 | 55,145 | 113,628 | 22,726 | 0 | Springing | 0 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 476,142 | 55,363 | 119,012 | 13,838 | 0 | Springing | 0 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 208,940 | 20,693 | 131,801 | 14,199 | 0 | 5,461 | 0 |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 44,962 | 44,962 | 89,126 | 9,903 | 0 | Springing | 0 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 43,084 | 43,084 | 20,844 | 6,948 | 200,000 | Springing | 0 |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 588,303 | 51,477 | 162,029 | 27,005 | 0 | Springing | 0 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 169,627 | 23,839 | 0 | 10,667 | 0 | 3,000 | 0 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 42,731 | 28,112 | 57,808 | 19,269 | 0 | 5,833 | 0 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 18,110 | 9,055 | 35,167 | 4,912 | 0 | 1,750 | 0 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 117,258 | 16,751 | 21,476 | 7,159 | 0 | 2,354 | 0 |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 0 | 15,286 | 31,724 | 7,931 | 0 | 3,818 | 0 |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 162,087 | 27,322 | 33,738 | 5,687 | 0 | 2,521 | 0 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 146,799 | 18,350 | 42,418 | 7,151 | 0 | 1,292 | 0 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 23,646 | 17,745 | 9,662 | 7,372 | 0 | Springing | 0 |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 306,330 | 25,528 | 13,334 | 3,333 | 0 | 2,167 | 52,000 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 122,424 | 15,303 | 26,923 | 3,846 | 0 | 2,172 | 0 |
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 72,531 | 24,072 | 51,575 | 17,117 | 0 | Springing | 0 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 23,519 | 5,880 | 28,321 | 4,046 | 0 | 2,667 | 0 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 1,471 | 463 | 12,962 | 1,620 | 0 | 1,250 | 30,000 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 59,855 | 17,212 | 19,765 | 5,684 | 0 | 2,875 | 0 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 0 | 0 | 34,871 | 2,906 | 0 | Springing | 0 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 65,460 | 10,910 | 8,943 | 3,163 | 0 | 354 | 0 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 2,844 | 711 | 11,862 | 1,186 | 0 | 604 | 14,500 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 15,961 | 5,212 | 16,099 | 5,257 | 0 | Springing | 0 |
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 0 | 14,355 | 0 | Springing | 0 | 944 | 22,644 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 100,402 | 11,156 | 24,502 | 2,722 | 0 | Springing | 0 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 36,422 | 15,176 | 6,394 | 3,197 | 0 | 875 | 21,000 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 17,234 | 5,732 | 3,420 | 1,138 | 0 | Springing | 0 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 10,619 | 1,327 | 18,331 | 4,583 | 0 | 1,996 | 0 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 3,635 | 3,635 | 35,741 | 3,657 | 0 | Springing | 0 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 70,078 | 12,558 | 17,698 | 3,171 | 0 | Springing | 0 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 58,545 | 10,134 | 21,840 | 3,780 | 0 | Springing | 0 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 54,844 | 6,424 | 41,676 | 4,881 | 0 | Springing | 0 |
| 34 | Loan | 17 | 1 | Pompano Flats | 67,239 | 6,392 | 0 | Springing | 0 | 542 | 0 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 9,530 | 6,211 | 6,648 | 4,332 | 0 | Springing | 0 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 610 | 6,772 | 200 | 2,223 | 0 | Springing | 0 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 15,229 | 1,269 | 879 | 440 | 0 | 233 | 0 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 140,447 | 12,768 | 124,527 | 8,895 | 0 | 3,258 | 0 |
| A-1-16 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront TI/LC Reserve ($) | Monthly TI/LC Reserve ($) | TI/LC Caps ($) | Upfront Debt Service Reserve ($) | Monthly Debt Service Reserve ($) | Debt Service Reserve Cap ($) | Upfront Deferred Maintenance Reserve ($) |
| 1 | Loan | 22 | 1 | Midtown Towers | 0 | 0 | 0 | 0 | 0 | 0 | 99,888 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 121,080 |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 0 | 0 | 0 | 0 | 0 | 0 | 5,000 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 0 | 0 | 0 | 0 | 0 | 0 | 732,125 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 34,188 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 0 | 0 | 0 | 0 | 0 | 0 | 75,500 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 30,931 |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 31,750 |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 0 | 0 | 0 | 0 | 0 | 0 | 27,500 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 47,063 |
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 0 | 0 | 0 | 0 | 0 | 0 | 122,375 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 0 | 0 | 0 | 0 | 0 | 0 | 118,765 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 0 | 0 | 0 | 0 | 0 | 0 | 5,500 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 0 | 1,147 | 27,538 | 0 | 0 | 0 | 0 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 0 | 1,202 | 28,846 | 0 | 0 | 0 | 0 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 34 | Loan | 17 | 1 | Pompano Flats | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 0 | 0 | 0 | 0 | 0 | 0 | 14,063 |
| A-1-17 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Upfront Other Reserve ($) | Monthly Other Reserve ($) | Other Reserve Description | Other Reserve Cap ($) |
| 26 | 26 | |||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 0 | 0 | NAP | 0 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 0 | 0 | NAP | 0 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 0 | 0 | NAP | 0 |
| 3.01 | Property | 1 | Meadowlands | |||||
| 3.02 | Property | 1 | Ecology | |||||
| 3.03 | Property | 1 | Honeysuckle | |||||
| 3.04 | Property | 1 | Windwood | |||||
| 3.05 | Property | 1 | Brooks Duplexes | |||||
| 3.06 | Property | 1 | Clevenger | |||||
| 3.07 | Property | 1 | Fountains | |||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 0 | 0 | NAP | 0 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 0 | 0 | NAP | 0 |
| 5.01 | Property | 1 | Chestnut Woods | |||||
| 5.02 | Property | 1 | Chestnut Crossing | |||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 0 | 0 | NAP | 0 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 0 | 0 | NAP | 0 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 644,750 | 0 | Down Unit Renovation Reserve ($382,250), Roof Repair Reserve ($262,500) | 0 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 0 | 0 | NAP | 0 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 0 | 0 | NAP | 0 |
| 10.01 | Property | 1 | University Gardens | |||||
| 10.02 | Property | 1 | Normandy Apartments | |||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 0 | 0 | NAP | 0 |
| 11.01 | Property | 1 | Cove Harbor | |||||
| 11.02 | Property | 1 | Harbor Oak | |||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 0 | 0 | NAP | 0 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 19,000 | 0 | TIF Reimbursement Reserve | 0 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 0 | 0 | NAP | 0 |
| 14.01 | Property | 1 | Olympia Manor | |||||
| 14.02 | Property | 1 | Carriage House | |||||
| 14.03 | Property | 1 | Town West Apartments | |||||
| 14.04 | Property | 1 | Briarwood Place | |||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 0 | 0 | NAP | 0 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 0 | 0 | NAP | 0 |
| 16.01 | Property | 1 | Delphene Manor | |||||
| 16.02 | Property | 1 | 1142 West 17th Street | |||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | |||||
| 16.04 | Property | 1 | 2849 San Marino Street | |||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 0 | 0 | NAP | 0 |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 0 | 0 | NAP | 0 |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 0 | 0 | NAP | 0 |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 0 | 0 | NAP | 0 |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 0 | 0 | NAP | 0 |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 0 | 0 | NAP | 0 |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 0 | 0 | NAP | 0 |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 0 | 0 | NAP | 0 |
| 24.01 | Property | 1 | Little River | |||||
| 24.02 | Property | 1 | Tekoa Apartments | |||||
| 24.03 | Property | 1 | DeVille Apartments | |||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 0 | 0 | NAP | 0 |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 0 | 0 | NAP | 0 |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 17,199 | 0 | Rent Replication Reserve | 0 |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 0 | 0 | NAP | 0 |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 0 | 0 | NAP | 0 |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 0 | 0 | NAP | 0 |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 0 | 0 | NAP | 0 |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 0 | 0 | NAP | 0 |
| 33 | Loan | 14 | 1 | Almeda Apartments | 0 | 0 | NAP | 0 |
| 34 | Loan | 17 | 1 | Pompano Flats | 0 | 0 | NAP | 0 |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 0 | 0 | NAP | 0 |
| 36 | Loan | 14, 22 | 1 | The Virginian | 0 | 0 | NAP | 0 |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 0 | 0 | NAP | 0 |
| 38 | Loan | 14 | 1 | Springdale Apartments | 0 | 0 | NAP | 0 |
| A-1-18 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Holdback/ Earnout Amount ($) | Holdback/ Earnout Description | Lockbox Type | Cash Management | Excess Cash Trap Triggered by DSCR and/or Debt Yield Test (Y/N) | Tenant Specific Excess Cash Trap Trigger (Y/N) | Pari Passu (Y/N) |
| 14 | 15 | ||||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | 0 | NAP | Springing | Springing | Yes | No | No |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 0 | NAP | Springing | Springing | Yes | No | No |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 0 | NAP | Springing | Springing | Yes | No | No |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 0 | NAP | Springing | Springing | Yes | No | No |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 0 | NAP | Springing | Springing | Yes | No | No |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 0 | NAP | Springing | Springing | Yes | No | No |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 0 | NAP | Springing | Springing | Yes | No | No |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 0 | NAP | Springing | Springing | Yes | No | No |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 0 | NAP | Springing | Springing | Yes | No | No |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 0 | NAP | None | None | No | No | No |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 0 | NAP | Springing | Springing | Yes | No | No |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 0 | NAP | None | None | No | No | No |
| 13 | Loan | 16, 23 | 1 | Prestige District | 0 | NAP | Soft | Springing | Yes | No | No |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 0 | NAP | None | None | No | No | No |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 0 | NAP | None | None | No | No | No |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | 0 | NAP | None | None | No | No | No |
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | 0 | NAP | None | None | No | No | No |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | 0 | NAP | Springing | Springing | Yes | No | No |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | 0 | NAP | Springing | Springing | Yes | No | No |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | 0 | NAP | None | None | No | No | No |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | 0 | NAP | None | None | No | No | No |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | 0 | NAP | None | None | No | No | No |
| 23 | Loan | 16, 23 | 1 | Colby Heights | 0 | NAP | Springing | Springing | Yes | No | No |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | 0 | NAP | None | None | No | No | No |
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | 0 | NAP | None | None | No | No | No |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | 0 | NAP | None | None | No | No | No |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | 0 | NAP | None | None | No | No | No |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | 0 | NAP | None | None | No | No | No |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | 0 | NAP | None | None | No | No | No |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | 0 | NAP | None | None | No | No | No |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | 0 | NAP | None | None | No | No | No |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | 0 | NAP | None | None | No | No | No |
| 33 | Loan | 14 | 1 | Almeda Apartments | 0 | NAP | None | None | No | No | No |
| 34 | Loan | 17 | 1 | Pompano Flats | 0 | NAP | Springing | Springing | Yes | No | No |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | 0 | NAP | None | None | No | No | No |
| 36 | Loan | 14, 22 | 1 | The Virginian | 0 | NAP | None | None | No | No | No |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | 0 | NAP | None | None | No | No | No |
| 38 | Loan | 14 | 1 | Springdale Apartments | 0 | NAP | None | None | No | No | No |
| A-1-19 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Pari Passu in Trust Controlling (Y/N) | Trust Pari Passu Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Cut-off Date Balance ($) | Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Total Trust and Non-Trust Pari Passu Companion Loan Monthly Debt Service ($) | Subordinate Companion Loan Cut-off Date Balance ($) |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 3.01 | Property | 1 | Meadowlands | |||||||
| 3.02 | Property | 1 | Ecology | |||||||
| 3.03 | Property | 1 | Honeysuckle | |||||||
| 3.04 | Property | 1 | Windwood | |||||||
| 3.05 | Property | 1 | Brooks Duplexes | |||||||
| 3.06 | Property | 1 | Clevenger | |||||||
| 3.07 | Property | 1 | Fountains | |||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.01 | Property | 1 | Chestnut Woods | |||||||
| 5.02 | Property | 1 | Chestnut Crossing | |||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 10.01 | Property | 1 | University Gardens | |||||||
| 10.02 | Property | 1 | Normandy Apartments | |||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 11.01 | Property | 1 | Cove Harbor | |||||||
| 11.02 | Property | 1 | Harbor Oak | |||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 14.01 | Property | 1 | Olympia Manor | |||||||
| 14.02 | Property | 1 | Carriage House | |||||||
| 14.03 | Property | 1 | Town West Apartments | |||||||
| 14.04 | Property | 1 | Briarwood Place | |||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 16.01 | Property | 1 | Delphene Manor | |||||||
| 16.02 | Property | 1 | 1142 West 17th Street | |||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | |||||||
| 16.04 | Property | 1 | 2849 San Marino Street | |||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | NAP | NAP | NAP | NAP | NAP |
| 24.01 | Property | 1 | Little River | |||||||
| 24.02 | Property | 1 | Tekoa Apartments | |||||||
| 24.03 | Property | 1 | DeVille Apartments | |||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-20 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Subordinate Companion Loan Interest Rate | Whole Loan Cut-off Date Balance ($) | Whole Loan Monthly Debt Service ($) | Whole Loan Cut-off Date LTV Ratio (%) | Whole Loan Underwritten NCF DSCR (x) | Whole Loan Underwritten NOI Debt Yield (%) | Mezzanine Debt Cut-off Date Balance($) |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-21 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Mezzanine Debt Interest Rate (%) | Total Debt Cut-off Date Balance ($) | Total Debt Monthly Debt Service ($) | Total Debt Cut-off Date LTV Ratio (%) | Total Debt Underwritten NCF DSCR (x) | Total Debt Underwritten NOI Debt Yield (%) | Future Additional Debt Permitted (Y/N) |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | No |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP | No |
| A-1-22 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Future Debt Permitted Type | Sponsor |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | Binyomin Weinberger, Mordechai Gottlieb, as Trustee of the Gottlieb Family Trust U/A/D December 4, 2018, Izzy Gottlieb and Noemi Brandys |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | Robert Pereira, Urvish Patel, Sharran Srivatsaa and Brian Hurley |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | Paul A. Schmidt, Jr. and Bridget D. Schmidt |
| 3.01 | Property | 1 | Meadowlands | |||
| 3.02 | Property | 1 | Ecology | |||
| 3.03 | Property | 1 | Honeysuckle | |||
| 3.04 | Property | 1 | Windwood | |||
| 3.05 | Property | 1 | Brooks Duplexes | |||
| 3.06 | Property | 1 | Clevenger | |||
| 3.07 | Property | 1 | Fountains | |||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | Nicholas Yassan and Nicholas Yassan, as Trustee of Nicholas Yassan Trust |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | Jason K. Wisotsky |
| 5.01 | Property | 1 | Chestnut Woods | |||
| 5.02 | Property | 1 | Chestnut Crossing | |||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | Roderick R. Hubbard and Roderick J. Hubbard |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | Hillel Hertz and Moishe Hirsch |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | Eran Israel |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | Louis Lefkowitz and Joseph Kohn |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | Yong Yuan and Yong Yuan, as Trustee of The Good Fortune Trust dated February 25, 2016 |
| 10.01 | Property | 1 | University Gardens | |||
| 10.02 | Property | 1 | Normandy Apartments | |||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | Rafael Guttman and Menachem Oelbaum |
| 11.01 | Property | 1 | Cove Harbor | |||
| 11.02 | Property | 1 | Harbor Oak | |||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | David Scammel, Clifford Scott Merkle and Joseph Santoro |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | Elvis Dumervil |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | Irshad M. Sideeka and Khadija Khan |
| 14.01 | Property | 1 | Olympia Manor | |||
| 14.02 | Property | 1 | Carriage House | |||
| 14.03 | Property | 1 | Town West Apartments | |||
| 14.04 | Property | 1 | Briarwood Place | |||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | Anil Shah and Dhansukhlal Ratanjee |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | Tzvi Ferszt, Daniel Levin, Joseph Savitsky |
| 16.01 | Property | 1 | Delphene Manor | |||
| 16.02 | Property | 1 | 1142 West 17th Street | |||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | |||
| 16.04 | Property | 1 | 2849 San Marino Street | |||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | Enoch Chao |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | Frederick Bruce Harlamert, Laurie Harlamert Juergens and Henry A. Harlamert |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | Joseph E. Zlab and Jeremy Morgan |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | Zeeshan Khan |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | Dan Rhyne Carter II, John W. Funderburk, Sandy M. Bondurant, Gregory E. Joerg |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | Felix Wai and Mark S. Unger |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | Surya Rao Kalla Venkata |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | Irshad Sideeka and Khadija Khan |
| 24.01 | Property | 1 | Little River | |||
| 24.02 | Property | 1 | Tekoa Apartments | |||
| 24.03 | Property | 1 | DeVille Apartments | |||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | Paul A. Elfers and Jeremey C. Martinson |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | David L. Nelson and David C. Nelson |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | Scott P. Gillespie |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | Brent Neely |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | Aria Developers |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | Shehzad M. Sharif |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | Josefina Soto |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | Joshua Warren, Zach Fugman and Victoria Warren |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | Dominique Delcourt and Jack Delcourt |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | George Maniatopoulos |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | Todd Robinson |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | Mitchell Greenberg |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | Patrick McDonald and Nicholas Cebula |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | Ruel M. Hamilton and Jefferson T. Ratliff |
| A-1-23 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Non-Recourse Carveout Guarantor | Delaware
Statutory Trust (Y/N) |
Tenants-in-common
(Y/N) |
| 21 | |||||||
| 1 | Loan | 22 | 1 | Midtown Towers | Binyomin Weinberger, Mordechai Gottlieb, as Trustee of the Gottlieb Family Trust U/A/D December 4, 2018, Izzy Gottlieb and Noemi Brandys | No | No |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | Robert Pereira, Urvish Patel, Sharran Srivatsaa and Brian Hurley | No | No |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | Paul A. Schmidt, Jr. and Bridget D. Schmidt | No | No |
| 3.01 | Property | 1 | Meadowlands | ||||
| 3.02 | Property | 1 | Ecology | ||||
| 3.03 | Property | 1 | Honeysuckle | ||||
| 3.04 | Property | 1 | Windwood | ||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||
| 3.06 | Property | 1 | Clevenger | ||||
| 3.07 | Property | 1 | Fountains | ||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | Nicholas Yassan and Nicholas Yassan, as Trustee of Nicholas Yassan Trust | No | No |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | Jason K. Wisotsky | No | No |
| 5.01 | Property | 1 | Chestnut Woods | ||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | Roderick R. Hubbard and Roderick J. Hubbard | No | No |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | Hillel Hertz and Moishe Hirsch | No | No |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | Eran Israel | No | No |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | Louis Lefkowitz and Joseph Kohn | No | No |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | Yong Yuan and Yong Yuan, as Trustee of The Good Fortune Trust dated February 25, 2016 | No | No |
| 10.01 | Property | 1 | University Gardens | ||||
| 10.02 | Property | 1 | Normandy Apartments | ||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | Rafael Guttman and Menachem Oelbaum | No | No |
| 11.01 | Property | 1 | Cove Harbor | ||||
| 11.02 | Property | 1 | Harbor Oak | ||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | David Scammel, Clifford Scott Merkle and Joseph Santoro | No | No |
| 13 | Loan | 16, 23 | 1 | Prestige District | Elvis Dumervil | No | No |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | Irshad M. Sideeka and Khadija Khan | No | No |
| 14.01 | Property | 1 | Olympia Manor | ||||
| 14.02 | Property | 1 | Carriage House | ||||
| 14.03 | Property | 1 | Town West Apartments | ||||
| 14.04 | Property | 1 | Briarwood Place | ||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | Anil Shah and Dhansukhlal Ratanjee | No | No |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | Tzvi Ferszt, Daniel Levin, Joseph Savitsky | No | Yes |
| 16.01 | Property | 1 | Delphene Manor | ||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | Enoch Chao, Stella Chao, Caleb Chao, Chloe Chao, Chao Family Trust I Dated August 7, 2012 and Chao Family Trust II Dated August 7, 2012 | No | No |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | Frederick Bruce Harlamert, Laurie Harlamert Juergens and Henry A. Harlamert | No | No |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | Joseph E. Zlab and Jeremy Morgan | No | No |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | Zeeshan Khan | No | No |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | Dan Rhyne Carter II, John W. Funderburk, Sandy M. Bondurant, Gregory E. Joerg | No | No |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | Trustee of the John E. Wai 1981 Living Trust Dated November 12, 1981 | No | No |
| 23 | Loan | 16, 23 | 1 | Colby Heights | Surya Rao Kalla Venkata | No | No |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | Irshad Sideeka and Khadija Khan | No | No |
| 24.01 | Property | 1 | Little River | ||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||
| 24.03 | Property | 1 | DeVille Apartments | ||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | Paul A. Elfers and Jeremey C. Martinson | No | No |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | David L. Nelson and David C. Nelson | No | Yes |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | Scott P. Gillespie | No | No |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | Brent Neely | No | No |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | Zohra Abassi and Aaslam A. Nazarali | No | No |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | Shehzad M. Sharif | No | No |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | Josefina Soto | No | No |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | Joshua Warren, Zach Fugman and Victoria Warren | No | No |
| 33 | Loan | 14 | 1 | Almeda Apartments | Dominique Delcourt and Jack Delcourt | No | No |
| 34 | Loan | 17 | 1 | Pompano Flats | George Maniatopoulos | No | No |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | Todd Robinson | No | No |
| 36 | Loan | 14, 22 | 1 | The Virginian | Mitchell Greenberg | No | No |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | Patrick McDonald and Nicholas Cebula | No | No |
| 38 | Loan | 14 | 1 | Springdale Apartments | Ruel M. Hamilton and Jefferson T. Ratliff | No | No |
| A-1-24 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Loan Purpose | Property Located Within a Qualified Opportunity Zone (Y/N) | Sources: Loan Amount ($) | Sources: Principal's New Cash Contribution ($) | Sources: Subordinate Debt ($) | Sources: Other Sources ($) |
| 7 | 8 | |||||||||
| 1 | Loan | 22 | 1 | Midtown Towers | Refinance | No | 47,500,000 | 0 | 0 | 0 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | Refinance | No | 43,500,000 | 0 | 0 | 0 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | Refinance | 36,061,000 | 0 | 0 | 0 | |
| 3.01 | Property | 1 | Meadowlands | No | ||||||
| 3.02 | Property | 1 | Ecology | No | ||||||
| 3.03 | Property | 1 | Honeysuckle | No | ||||||
| 3.04 | Property | 1 | Windwood | No | ||||||
| 3.05 | Property | 1 | Brooks Duplexes | No | ||||||
| 3.06 | Property | 1 | Clevenger | No | ||||||
| 3.07 | Property | 1 | Fountains | No | ||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | Refinance | No | 33,307,000 | 0 | 0 | 0 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | Acquisition | 33,000,000 | 14,267,793 | 0 | 0 | |
| 5.01 | Property | 1 | Chestnut Woods | No | ||||||
| 5.02 | Property | 1 | Chestnut Crossing | No | ||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | Recapitalization | No | 29,289,000 | 0 | 0 | 0 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | Refinance | No | 22,850,000 | 61,088 | 0 | 0 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | Refinance | Yes | 22,600,000 | 0 | 0 | 0 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | Refinance | No | 22,000,000 | 474,848 | 0 | 0 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | Acquisition | 16,081,000 | 6,308,251 | 0 | 0 | |
| 10.01 | Property | 1 | University Gardens | No | ||||||
| 10.02 | Property | 1 | Normandy Apartments | No | ||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | Refinance | 15,265,000 | 0 | 0 | 0 | |
| 11.01 | Property | 1 | Cove Harbor | No | ||||||
| 11.02 | Property | 1 | Harbor Oak | No | ||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | Refinance | No | 15,257,000 | 103,748 | 0 | 0 |
| 13 | Loan | 16, 23 | 1 | Prestige District | Refinance | No | 14,500,000 | 0 | 0 | 0 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | Refinance | 13,768,000 | 0 | 0 | 0 | |
| 14.01 | Property | 1 | Olympia Manor | No | ||||||
| 14.02 | Property | 1 | Carriage House | No | ||||||
| 14.03 | Property | 1 | Town West Apartments | No | ||||||
| 14.04 | Property | 1 | Briarwood Place | No | ||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | Refinance | No | 13,750,000 | 1,470,302 | 0 | 0 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | Refinance | |||||
| 16.01 | Property | 1 | Delphene Manor | No | ||||||
| 16.02 | Property | 1 | 1142 West 17th Street | No | ||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | No | ||||||
| 16.04 | Property | 1 | 2849 San Marino Street | No | ||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | Refinance | No | ||||
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | Refinance | No | ||||
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | Refinance | No | ||||
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | Acquisition | No | ||||
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | Refinance | No | ||||
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | Refinance | No | ||||
| 23 | Loan | 16, 23 | 1 | Colby Heights | Refinance | No | ||||
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | Refinance | |||||
| 24.01 | Property | 1 | Little River | No | ||||||
| 24.02 | Property | 1 | Tekoa Apartments | No | ||||||
| 24.03 | Property | 1 | DeVille Apartments | No | ||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | Acquisition | No | ||||
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | Refinance | No | ||||
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | Refinance | No | ||||
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | Acquisition | No | ||||
| 29 | Loan | 14 | 1 | Aria at Wilcrest | Refinance | No | ||||
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | Refinance | No | ||||
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | Refinance | No | ||||
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | Acquisition | No | ||||
| 33 | Loan | 14 | 1 | Almeda Apartments | Refinance | No | ||||
| 34 | Loan | 17 | 1 | Pompano Flats | Refinance | No | ||||
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | Acquisition | No | ||||
| 36 | Loan | 14, 22 | 1 | The Virginian | Refinance | No | ||||
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | Acquisition | No | ||||
| 38 | Loan | 14 | 1 | Springdale Apartments | Refinance | No |
| A-1-25 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Sources: Total Sources ($) | Uses: Loan Payoff ($) | Uses: Purchase Price ($) | Uses: Closing Costs ($) | Uses: Reserves ($) | Uses: Principal Equity Distribution ($) | Uses: Other Uses ($) |
| 1 | Loan | 22 | 1 | Midtown Towers | 47,500,000 | 36,532,792 | 0 | 1,992,388 | 325,696 | 8,649,124 | 0 |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 43,500,000 | 41,523,713 | 0 | 1,000,449 | 595,154 | 380,685 | 0 |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 36,061,000 | 22,590,374 | 0 | 1,872,106 | 461,821 | 11,136,700 | 0 |
| 3.01 | Property | 1 | Meadowlands | ||||||||
| 3.02 | Property | 1 | Ecology | ||||||||
| 3.03 | Property | 1 | Honeysuckle | ||||||||
| 3.04 | Property | 1 | Windwood | ||||||||
| 3.05 | Property | 1 | Brooks Duplexes | ||||||||
| 3.06 | Property | 1 | Clevenger | ||||||||
| 3.07 | Property | 1 | Fountains | ||||||||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 33,307,000 | 29,528,667 | 0 | 1,144,246 | 139,088 | 2,494,999 | 0 |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 47,267,793 | 0 | 44,000,000 | 3,003,865 | 263,928 | 0 | 0 |
| 5.01 | Property | 1 | Chestnut Woods | ||||||||
| 5.02 | Property | 1 | Chestnut Crossing | ||||||||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 29,289,000 | 0 | 0 | 1,085,632 | 1,482,457 | 26,720,911 | 0 |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 22,911,088 | 21,917,730 | 0 | 789,543 | 203,815 | 0 | 0 |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 22,600,000 | 15,913,929 | 0 | 1,532,499 | 820,789 | 4,332,783 | 0 |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 22,474,848 | 21,721,830 | 0 | 699,741 | 53,277 | 0 | 0 |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 22,389,251 | 0 | 21,800,000 | 419,585 | 169,666 | 0 | 0 |
| 10.01 | Property | 1 | University Gardens | ||||||||
| 10.02 | Property | 1 | Normandy Apartments | ||||||||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 15,265,000 | 11,116,469 | 0 | 952,614 | 63,474 | 3,132,444 | 0 |
| 11.01 | Property | 1 | Cove Harbor | ||||||||
| 11.02 | Property | 1 | Harbor Oak | ||||||||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 15,360,748 | 14,482,721 | 0 | 682,202 | 195,825 | 0 | 0 |
| 13 | Loan | 16, 23 | 1 | Prestige District | 14,500,000 | 7,976,245 | 0 | 779,991 | 235,717 | 5,508,047 | 0 |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 13,768,000 | 11,902,546 | 0 | 571,720 | 33,308 | 1,260,426 | 0 |
| 14.01 | Property | 1 | Olympia Manor | ||||||||
| 14.02 | Property | 1 | Carriage House | ||||||||
| 14.03 | Property | 1 | Town West Apartments | ||||||||
| 14.04 | Property | 1 | Briarwood Place | ||||||||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 15,220,302 | 14,518,268 | 0 | 382,370 | 319,664 | 0 | 0 |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | |||||||
| 16.01 | Property | 1 | Delphene Manor | ||||||||
| 16.02 | Property | 1 | 1142 West 17th Street | ||||||||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | ||||||||
| 16.04 | Property | 1 | 2849 San Marino Street | ||||||||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | |||||||
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | |||||||
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | |||||||
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | |||||||
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | |||||||
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | |||||||
| 23 | Loan | 16, 23 | 1 | Colby Heights | |||||||
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | |||||||
| 24.01 | Property | 1 | Little River | ||||||||
| 24.02 | Property | 1 | Tekoa Apartments | ||||||||
| 24.03 | Property | 1 | DeVille Apartments | ||||||||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | |||||||
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | |||||||
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | |||||||
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | |||||||
| 29 | Loan | 14 | 1 | Aria at Wilcrest | |||||||
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | |||||||
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | |||||||
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | |||||||
| 33 | Loan | 14 | 1 | Almeda Apartments | |||||||
| 34 | Loan | 17 | 1 | Pompano Flats | |||||||
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | |||||||
| 36 | Loan | 14, 22 | 1 | The Virginian | |||||||
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | |||||||
| 38 | Loan | 14 | 1 | Springdale Apartments |
| A-1-26 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Uses: Total Uses ($) | Franchise Agreement Expiration | Underwritten ADR ($) | Underwritten RevPAR ($) | Underwritten Hotel Occupancy (%) | Most Recent ADR ($) | Most Recent RevPAR ($) |
| 1 | Loan | 22 | 1 | Midtown Towers | 47,500,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | 43,500,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | 36,061,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 3.01 | Property | 1 | Meadowlands | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.02 | Property | 1 | Ecology | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.03 | Property | 1 | Honeysuckle | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.04 | Property | 1 | Windwood | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.05 | Property | 1 | Brooks Duplexes | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.06 | Property | 1 | Clevenger | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 3.07 | Property | 1 | Fountains | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 4 | Loan | 22, 23 | 1 | Marine Terrace | 33,307,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | 47,267,793 | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.01 | Property | 1 | Chestnut Woods | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 5.02 | Property | 1 | Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | 29,289,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | 22,911,088 | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | 22,600,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | 22,474,848 | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | 22,389,251 | NAP | NAP | NAP | NAP | NAP | NAP |
| 10.01 | Property | 1 | University Gardens | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 10.02 | Property | 1 | Normandy Apartments | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | 15,265,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 11.01 | Property | 1 | Cove Harbor | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 11.02 | Property | 1 | Harbor Oak | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | 15,360,748 | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | 14,500,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | 13,768,000 | NAP | NAP | NAP | NAP | NAP | NAP |
| 14.01 | Property | 1 | Olympia Manor | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 14.02 | Property | 1 | Carriage House | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 14.03 | Property | 1 | Town West Apartments | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 14.04 | Property | 1 | Briarwood Place | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | 15,220,302 | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.01 | Property | 1 | Delphene Manor | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 16.02 | Property | 1 | 1142 West 17th Street | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 16.04 | Property | 1 | 2849 San Marino Street | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.01 | Property | 1 | Little River | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 24.02 | Property | 1 | Tekoa Apartments | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 24.03 | Property | 1 | DeVille Apartments | NAP | NAP | NAP | NAP | NAP | NAP | ||
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-27 |
AXDB 2026-MULT1
Annex A-1
| Loan ID Number | Loan / Property Flag | Footnotes (for Loan and Property Information) | # of Properties | Property Name | Most Recent Hotel Occupancy (%) | Second Most Recent ADR ($) | Second Most Recent RevPAR ($) | Second Most Recent Hotel Occupancy (%) | Third Most Recent ADR ($) | Third Most Recent RevPAR ($) | Third Most Recent Hotel Occupancy (%) |
| 1 | Loan | 22 | 1 | Midtown Towers | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 2 | Loan | 16, 22, 23 | 1 | The Jax | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3 | Loan | 10 | 7 | NW Arkansas Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 3.01 | Property | 1 | Meadowlands | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.02 | Property | 1 | Ecology | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.03 | Property | 1 | Honeysuckle | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.04 | Property | 1 | Windwood | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.05 | Property | 1 | Brooks Duplexes | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.06 | Property | 1 | Clevenger | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 3.07 | Property | 1 | Fountains | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 4 | Loan | 22, 23 | 1 | Marine Terrace | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5 | Loan | 10, 22 | 2 | Chestnut Woods & Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 5.01 | Property | 1 | Chestnut Woods | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 5.02 | Property | 1 | Chestnut Crossing | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 6 | Loan | 22 | 1 | Douglaston Villas & Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 7 | Loan | 17 | 1 | Yorktowne Pointe Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 8 | Loan | 23, 24 | 1 | Nissan Golden Gate | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 9 | Loan | 16, 23 | 1 | 501 West 7th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10 | Loan | 10, 14 | 2 | Riverside Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 10.01 | Property | 1 | University Gardens | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 10.02 | Property | 1 | Normandy Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11 | Loan | 10, 16, 17, 23 | 2 | Virginia Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 11.01 | Property | 1 | Cove Harbor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 11.02 | Property | 1 | Harbor Oak | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 12 | Loan | 14, 16 | 1 | Westwood Townhomes | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 13 | Loan | 16, 23 | 1 | Prestige District | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14 | Loan | 10, 14, 22 | 4 | Naviah 1738 Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 14.01 | Property | 1 | Olympia Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.02 | Property | 1 | Carriage House | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.03 | Property | 1 | Town West Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 14.04 | Property | 1 | Briarwood Place | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 15 | Loan | 14, 16, 23 | 1 | Brookside Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16 | Loan | 10, 14, 16, 21 | 4 | Pico Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 16.01 | Property | 1 | Delphene Manor | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.02 | Property | 1 | 1142 West 17th Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.03 | Property | 1 | 4144 West Adams Boulevard | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 16.04 | Property | 1 | 2849 San Marino Street | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 17 | Loan | 14, 22 | 1 | Sovereignty at Winter Park | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 18 | Loan | 23 | 1 | Prime at Laurel Springs | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 19 | Loan | 16, 23 | 1 | Rockefeller Square Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 20 | Loan | 14, 23 | 1 | Mulberry Estates | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 21 | Loan | 14, 22, 23 | 1 | Flats at 87Ten | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 22 | Loan | 11, 14, 16, 17, 23 | 1 | 693 Sutter St | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 23 | Loan | 16, 23 | 1 | Colby Heights | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24 | Loan | 10, 14, 22 | 3 | SMS Portfolio | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 24.01 | Property | 1 | Little River | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.02 | Property | 1 | Tekoa Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 24.03 | Property | 1 | DeVille Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP | |
| 25 | Loan | 11, 14, 23 | 1 | Town Centre Village Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 26 | Loan | 14, 21 | 1 | 1810 Belcourt Ave | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 27 | Loan | 11, 14, 16, 17, 24 | 1 | The Venue | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 28 | Loan | 14, 16, 22, 23 | 1 | Aspen Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 29 | Loan | 14 | 1 | Aria at Wilcrest | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 30 | Loan | 14, 22 | 1 | Bellagio Living II | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 31 | Loan | 14, 22 | 1 | The 501 Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 32 | Loan | 14, 22, 23 | 1 | The Arthur | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 33 | Loan | 14 | 1 | Almeda Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 34 | Loan | 17 | 1 | Pompano Flats | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 35 | Loan | 14, 22, 23 | 1 | Northwood Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 36 | Loan | 14, 22 | 1 | The Virginian | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 37 | Loan | 14, 23 | 1 | Shasta Glen MHP | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| 38 | Loan | 14 | 1 | Springdale Apartments | NAP | NAP | NAP | NAP | NAP | NAP | NAP |
| A-1-28 |
Footnotes to Annex A-1
| (1) | The Administrative Fee Rate % includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate applicable to each Mortgage Loan. |
| (2) | The Monthly Debt Service (P&I) and Annual Debt Service (P&I) ($) shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period. |
| (3) | The open period is inclusive of the Maturity Date or Anticipated Repayment Date. |
| (4) | Underwritten NOI DSCR (x), Underwritten NCF DSCR (x), Whole Loan Underwritten NCF DSCR (x) and Total Debt Underwritten NCF DSCR (x) is calculated based on amortizing debt service payments (except for interest-only loans). |
| (5) | [Reserved]. |
| (6) | [Reserved]. |
| (7) | Property Located Within a Qualified Opportunity Zone (Y/N) reflects Mortgaged Properties that are located in qualified opportunity zones ("QOZs") under Internal Revenue Code § 1400Z-2 - Notice 2018-48 and Notice 2019-42. According to the Internal Revenue Service, (1) a QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment, and (2) localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the Treasury via his delegation of authority to the Internal Revenue Service. No representation is made as to whether any Mortgaged Properties located in QOZs or the related borrowers are eligible for such preferential tax treatment or whether any qualifying investment has been made in a QOZ. |
| (8) | If the purpose of the Mortgage Loan was to finance an acquisition of the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash investment by one or more of the equity owners in the borrower in connection with such acquisition. If the purpose of the Mortgage Loan was to refinance the Mortgaged Property, the field "Sources: Principal's New Cash Contribution ($)" reflects the cash contributed to the borrower by one or more of the equity owners at the time the Mortgage Loan was originated. |
| (9) | GACC—German American Capital Corporation or one of its affiliates; Axonic—AXMF 2026-1 LLC or one of its affiliates. |
| (10) | With respect to any mortgaged property securing a multi–property mortgage loan, the amounts listed under the headings “Original Balance ($)” and “Cut–off Date Balance ($)” reflect the Allocated Loan Amount related to such mortgaged property.
● Loan No. 3 – NW Arkansas Portfolio ● Loan No. 5 – Chestnut Woods & Chestnut Crossing ● Loan No. 10 – Riverside Portfolio ● Loan No. 11 – Virginia Portfolio ● Loan No. 14 – Naviah 1738 Portfolio ● Loan No. 16 – Pico Portfolio ● Loan No. 24 – SMS Portfolio |
| (11) | With respect to Loan No. 22, 693 Sutter St, the mortgaged property consists of 17 residential units that are 100% occupied as as of August 3 2026, and 3 vacant ground-floor retail spaces, which total 3,873 square feet.
With respect to Loan No. 25, Town Centre Village Apartments, the mortgaged property consists of 37 residential units across 34,445 square feet, which is 97.3% occupied as of August 6, 2026, and 13 commercial units across 13,769 square feet, which is 100.0% occupied as of August 6, 2026. The residential component represents |
| A-1-29 |
71.4% of total NRA and 72.4% of underwritten effective gross income and the commercial component represents 28.6% of total NRA and 27.6% of underwritten effective gross income.
With respect to Loan No. 27, The Venue, the mortgaged property consists of 42 residential units across 33,130 square feet, which is 95.2% occupied as of August 31, 2026, and 7 commercial units across 14,423 square feet, which is 100.0% occupied as of August 31, 2026. The residential component represents 69.7% of total NRA and 71.6% of underwritten effective gross income and the commercial component represents 30.3% of total NRA and 28.4% of underwritten effective gross income. | |
| (12) | The Administrative Fee Rate (%) includes the respective per annum rates applicable to the calculation of the servicing fee, any sub–servicing fee, trustee/certificate administrator fee, operating advisor fee, and CREFC® license fee with respect to each mortgage loan. For purposes of this Annex A–1 to the Preliminary Prospectus, the definition of Administrative Fee Rate as it relates to any Non–Serviced mortgage loan includes the related Pari Passu Loan Primary Servicing Fee Rate which includes the “primary servicing fee rate” (as defined or set forth in the applicable pooling and servicing agreement) and any other related servicing or any sub–servicing fee rate (other than those payable to the applicable special servicer) applicable to such Non–Serviced mortgage loan that constitutes a portion of the “servicing fee rate” applicable to the other master servicer under the applicable other pooling and servicing agreement. See the table titled “Non–Serviced Whole Loans” under “Summary of Terms—The Mortgage Pool” in this Preliminary Prospectus. |
| (13) | Annual Debt Service (IO) ($), Annual Debt Service (P&I) ($), Monthly Debt Service (IO) ($), Monthly Debt Service (P&I) ($), Underwritten NOI DSCR (x) and Underwritten NCF DSCR (x) for mortgage loans (i) with partial interest only periods are shown based on the monthly debt service payment immediately following the expiration of the interest only period and (ii) that are interest only until the related maturity date are shown based on the interest only payments during the 12-month period following the Cut-off Date (or, in the case of Monthly Debt Service (IO) ($), the average of such interest only payments) without regard to leap year adjustments |
| (14) | “Hard” generally means each tenant is required to transfer its rent directly to the lender–controlled lockbox account. However, with respect to hospitality properties, “Hard” means all credit card receipts are deposited directly into the lockbox by the card processing company and all over–the–counter cash and equivalents are required to be deposited by the property manager or borrower into the lockbox. “Soft” means the borrower has established a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account. “Springing” means that upon the occurrence of a trigger event (as specified in the related mortgage loan Documents), the borrower is required to establish a lockbox account that will be under lender control and the borrower or property manager is required to collect rents from the tenants and then deposit those rents into such lockbox account.
With respect to Loan No. 10, Riverside Portfolio, the mortgage loan is structured without a lockbox.
With respect to Loan No. 12, Westwood Townhomes, the mortgage loan is structured without a lockbox.
With respect to Loan No. 14, Naviah 1738 Portfolio, the mortgage loan is structured without a lockbox.
With respect to Loan No. 15, Brookside Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 16, Pico Portfolio, the mortgage loan is structured without a lockbox.
With respect to Loan No. 17, Sovereignty at Winter Park, the mortgage loan is structured without a lockbox.
With respect to Loan No. 20, Mulberry Estates, the mortgage loan is structured without a lockbox.
With respect to Loan No. 21, Flats at 87Ten, the mortgage loan is structured without a lockbox.
With respect to Loan No. 22, 693 Sutter St, the mortgage loan is structured without a lockbox.
With respect to Loan No. 24, SMS Portfolio, the mortgage loan is structured without a lockbox. |
| A-1-30 |
With respect to Loan No. 25, Town Centre Village Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 26, 1810 Belcourt Avenue, the mortgage loan is structured without a lockbox.
With respect to Loan No. 27, The Venue, the mortgage loan is structured without a lockbox.
With respect to Loan No. 28, Aspen Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 29, Aria at Wilcrest, the mortgage loan is structured without a lockbox.
With respect to Loan No. 30, Bellagio Living II, the mortgage loan is structured without a lockbox.
With respect to Loan No. 31, The 501 Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 32, The Arthur, the mortgage loan is structured without a lockbox.
With respect to Loan No. 33, Almeda Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 35, Northwood Apartments, the mortgage loan is structured without a lockbox.
With respect to Loan No. 36, The Virginian, the mortgage loan is structured without a lockbox.
With respect to Loan No. 37, Shasta Glen MHP, the mortgage loan is structured without a lockbox.
With respect to Loan No. 38, Springdale Apartments, the mortgage loan is structured without a lockbox. | |
| (15) | “In Place” means that related property cash flows go through a waterfall of required reserve or other payment amounts due before the lender either (i) disburses excess cash to the related borrower or (ii) retains excess cash as additional collateral for the mortgage loan. “Springing” means that upon the occurrence of a trigger event, as defined in the related mortgage loan documents, In Place cash management (as described above) will take effect, and will generally continue until all trigger events are cured (to the extent a cure is permitted under the related mortgage loan documents). |
| (16) | With respect to Loan No. 2, The Jax, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to initial lease-up due to property being built in 2025.
With respect to Loan No. 9, 501 West 7th Street, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to the mortgaged property's recent stabilization following a comprehensive 2025 gut renovation and lease-up, resulting in higher occupancy and rental revenue.
With respect to Loan No. 11, Virginia Portfolio, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to increased rents and occupancy following renovation in 2025.
With respect to Loan No. 12, Westwood Townhomes , the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to increased current physical occupancy compared to the average over the TTM April 30, 2026 period.
With respect to Loan No. 13, Prestige District, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to the completion of a comprehensive renovation, subsequent lease-up, and stabilization of the mortgaged property.
With respect to Loan No. 15, Brookside Apartments, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to improved occupancy following completion of the remediation program in July 2026 related to construction defects, as well as underwriting adjustments resulting from the stabilization of the mortgaged property operations. |
| A-1-31 |
With respect to Loan No. 16, Pico Portfolio, the decrease in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to appraisal expense estimates of repairs and maintenance, general and administrative fees and replacement reserves.
With respect to Loan No. 19, Rockefeller Square Apartments, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to a abrupt decline in occupancy due to significant tenant concentration comprised of Navy personnel that were called to active service and required to vacate the mortgaged property which negatively affected the occupancy of the Rockefeller Square Apartments property during the Most Recent NOI ($) period. Occupancy has since increased causing an increase in the Underwritten Net Operating Income ($).
With respect to Loan No. 22, 693 Sutter St, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to continued lease-up and stabilization of the mortgaged property following completion of the office-to-multifamily conversion.
With respect to Loan No. 23, Colby Heights, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to the continued lease-up and stabilization of the mortgaged property following completion of construction in 2025.
With respect to Loan No. 27, The Venue, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to continued lease up and stabilization of the mortgaged property.
With respect to Loan No. 28, Aspen Apartments, the increase in Underwritten Net Operating Income ($) from Most Recent NOI ($) is primarily attributable to payroll being covered by the property manager under the new agreement effective September 1, 2026. | |
| (17) | The grace periods noted under “Grace Period – Late Fee (Days)” and Grace Period – Default (Days) reflect the number of days of grace before a payment default is an event of default. Certain jurisdictions impose a statutorily longer grace period. Certain of the mortgage loans may additionally be subject to grace periods with respect to the occurrence of an event of default (other than a payment default) and/or commencement of late charges which are not addressed in Annex A–1 to this Preliminary Prospectus.
With respect to Loan No. 7, Yorktowne Pointe Apartments, a grace period of five days is permitted once during the term of the mortgage loan term with respect to late fees.
With respect to Loan No. 11, Virginia Portfolio, a grace period of ten days is permitted twice during the term of the mortgage loan term with respect to late fees.
With respect to Loan No. 22, 693 Sutter St, a grace period of five days is permitted once during the term of the mortgage loan term with respect to late fees.
With respect to Loan No. 27, The Venue, a grace period of five days is permitted once during the term of the mortgage loan term with respect to late fees.
With respect to Loan No. 34, Pompano Flats, a grace period of five days is permitted once during the term of the mortgage loan term with respect to late fees. |
| (18) | Prepayment Provisions are shown from the respective mortgage loan First Payment Date.
“L(x)” means lock–out for x payments.
“D(x)” means may be defeased for x payments.
“YM(x)” means may be prepaid for x payments with payment of a yield maintenance charge. |
| A-1-32 |
|
“YM1(x)” means may be prepaid for x payments with payment of the greater of a yield maintenance charge and 1% of the amount prepaid.
“DorYM1(x)” means may be prepaid for x payments with either defeasance or a yield maintenance charge or 1% of the amount prepaid.
“O(x)” means freely prepayable for x payments, including the maturity date.
Certain of the mortgage loans permit the release of a portion of a mortgaged property (or an individual mortgaged property, in connection with a portfolio mortgage loan) under various circumstances, as described in this Preliminary Prospectus. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in this Preliminary Prospectus and footnote 21 above. In addition, certain of the mortgage loans permit the borrower to prepay a portion of the mortgage loan to avoid or cure a cash sweep period due to a low debt yield or debt service coverage ratio trigger. | |
| (19) | Partial release in connection with a partial prepayment or partial defeasance or substitution or a free release is permitted for the following loans. See “Description of the Mortgage Pool—Certain Terms of the Mortgage Loans—Partial Releases” in this Preliminary Prospectus for the terms of the releases. |
| (20) | [Reserved]. |
| (21) | The following mortgage loans have one or more borrowers that own all or a portion of the related mortgaged property as tenants–in–common. See “Description of the Mortgage Pool—Mortgage Pool Characteristics—– Tenancies–in–Common or Diversified Ownership” in this Preliminary Prospectus for further information.
With respect to Loan No. 16, Pico Portfolio, the related borrowers own the Pico Portfolio Mortgaged Properties as tenants-in-common.
With respect to Loan No. 26, 1810 Belcourt Avenue, the related borrowers own the 1810 Belcourt Avenue Mortgaged Property as tenants-in-common. |
| (22) | With respect to Loan No. 1, Midtown Towers, the borrower is required to deposit $12,700 per month in to the capital expenditures reserve upon (i) a default under the Midtown Towers Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Midtown Towers Mortgaged Property.
With respect to Loan No. 2, The Jax, the borrower is required to deposit $4,700 per month in to the capital expenditures reserve upon (i) a default under The Jax Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of The Jax Mortgaged Property.
With respect to Loan No. 4, Marine Terrace, the borrower is required to deposit $4,306.67 per month in to the capital expenditures reserve upon (i) a default under the Marine Terrace Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Marine Terrace Mortgaged Property.
With respect to Loan No. 5, Chestnut Woods & Chestnut Crossing, the borrower is required to deposit $3,750 per month in to the capital expenditures reserve upon (i) a default under the Chestnut Woods & Chestnut Crossing Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Chestnut Woods & Chestnut Crossing Mortgaged Properties.
With respect to Loan No. 6, Douglaston Villas & Townhomes, the borrower is required to deposit $6,006 per month in to the capital expenditures reserve upon (i) a default under the Douglaston Villas & Townhomes Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or |
| A-1-33 |
(iv) the lender’s assessment of the physical condition of the Douglaston Villas & Townhomes Mortgaged Property.
With respect to Loan No. 14, Naviah 1738 Portfolio, the borrower is required to deposit $2,604.17 per month in to the capital expenditures reserve upon (i) a default under the Naviah 1738 Portfolio Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Naviah 1738 Portfolio Mortgaged Properties. | |
With respect to Loan No. 17, Sovereignty at Winter Park, the borrower is required to deposit $3,500 per month in to the capital expenditures reserve upon (i) a default under the Sovereignty at Winter Park Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Sovereignty at Winter Park Mortgaged Property.
With respect to Loan No. 21, Flats at 87Ten, the borrower is required to deposit $2,000 per month in to the capital expenditures reserve upon (i) a default under the Flats at 87Ten Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Flats at 87Ten Mortgaged Property.
With respect to Loan No. 24, SMS Portfolio, the borrower is required to deposit $1,604.17 per month in to the capital expenditures reserve upon (i) a default under the SMS Portfolio Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the SMS Portfolio Mortgaged Properties.
With respect to Loan No. 28, Aspen Apartments, the borrower is required to deposit $937.50 per month in to the capital expenditures reserve upon (i) a default under the Aspen Apartments Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Aspen Apartments Mortgaged Property.
With respect to Loan No. 30, Bellagio Living II, the borrower is required to deposit $1,812 per month in to the capital expenditures reserve upon (i) a default under the Bellagio Living II Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Bellagio Living II Mortgaged Property.
With respect to Loan No. 31, The 501 Apartments, the borrower is required to deposit $1,450 per month in to the capital expenditures reserve upon (i) a default under the The 501 Apartments Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the The 501 Apartments Mortgaged Property. | |
With respect to Loan No. 32, The Arthur, the borrower is required to deposit $1,208.33 per month in to the capital expenditures reserve upon (i) a default under The Arthur Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of The Arthur Mortgaged Property.
With respect to Loan No. 35, Northwood Apartments, the borrower is required to deposit $1,666.67 per month in to the capital expenditures reserve upon (i) a default under the Northwood Apartments Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of the Northwood Apartments Mortgaged Property.
With respect to Loan No. 36, The Virginian, the borrower is required to deposit $583.33 per month in to the capital expenditures reserve upon (i) a default under The Virginian Mortgage Loan documents, (ii) a transfer requiring lender approval, (iii) the placement of a subordinate loan or (iv) the lender’s assessment of the physical condition of The Virginian Mortgaged Property. | |
| (23) | With respect to Loan No. 2, The Jax, historical NOI information is limited because The Jax mortgaged property was constructed in 2025. |
| A-1-34 |
|
With respect to Loan No. 4, Marine Terrace, historical NOI information is limited because the Marine Terrace mortgaged property was renovated in 2025.
With respect to Loan No. 8, Nissan Golden Gate, Fourth Most Recent financial information only reflects a partial year of operation because the borrower sponsor acquired the mortgage property in November 2023.
With respect to Loan No. 9, 501 West 7th Street, historical financial information is limited because because the mortgaged property underwent a comprehensive renovation and lease-up following the borrower sponsor’s acquisition in January 2025.
With respect to Loan No. 11, Virginia Portfolio, historical financial information is limited because the borrower sponsor acquired the mortgaged properties on a rolling basis in early 2025.
With respect to Loan No. 13, Prestige District, historical financial information is limited to 10 months because the mortgaged property was acquired vacant in May 2024 and subsequently underwent a comprehensive renovation and lease-up.
With respect to Loan No. 15, Brookside Apartments, Fourth Most Recent and Third Most Recent historical financial information is not available because such periods were impacted by construction defects and related remediation work.
With respect to Loan No. 18, Prime at Laurel Springs, historical NOI information is limited because the Prime at Laurel Springs mortgaged property was renovated in 2025. | |
With respect to Loan No. 19, Rockefeller Square Apartments, Fourth Most Recent financial information is not available because the mortgaged property finished construction in 2023.
With respect to Loan No. 20, Mulberry Estates, historical financial information is not available due to the Mulberry Estates mortgaged property being acquired by the borrower sponsors in September 2026.
With respect to Loan No. 21, Flats at 87Ten, historical NOI information is limited because the Flats at 87Ten mortgaged property was renovated in 2023.
With respect to Loan No. 22, 693 Sutter St, historical financial information is limited because the mortgaged property completed an office-to-multifamily conversion in August 2025 and tenants did not begin taking occupancy until September 2025. Accordingly, Most Recent financial information is not representative of a full 12 months of operating history.
With respect to Loan No. 23, Colby Heights, historical financial information is limited because the mortgaged property was in lease-up following completion of construction and therefore historical operating periods were not representative of stabilized operation. Most Recent financial information only reflects the annualized trailing 5 months ending on May 31, 2026.
With respect to Loan No. 25, Town Centre Village Apartments, historical financial information is limited as it was not required to be provided in connection with origination of the Town Centre Village Apartments mortgage loan.
With respect to Loan No. 28, Aspen Apartments, historical NOI information is limited because the Aspen Apartments mortgaged property was renovated from 2021 through 2026, and acquired by the borrower sponsor in August 2026.
With respect to Loan No. 32, The Arthur, historical financial information is not available due to The Arthur mortgaged property being acquired by the borrower sponsors in June 2026.
With respect to Loan No. 35, Northwood Apartments, historical financial information is not available due to the Northwood Apartments mortgaged property being acquired by the borrower in August 2026. |
| A-1-35 |
| With respect to Loan No. 37, Shasta Glen MHP, Fourth Most Recent financial information is not available as it was not required to be provided in connection with origination of the Shasta Glen MHP mortgage loan. | |
| (24) | With respect to Loan No. 8, Nissan Golden Gate, Occupancy (%) reflects 30 vacant units, 10 of which are fire-damaged offline units in at the mortgaged property. Excluding these units, occupancy at the mortgaged property would be approximately 92.9%.
With respect to Loan No. 27, The Venue, the borrower deposited $17,199 in a reserve account associated with free rent tied to the Largest Tenant, Anytime Fitness. $1,323 is to be disbursed in November 2026 in connection with one month of remaining abated common area maintenance payments and $3,969 on each monthly payment date in November 2026 through and including the monthly payment date in February 2027 in connection with the remaining abated base rent. |
| A-1-36 |