BANK5 2023-5YR1 - Charts and Resources

The Loan was transferred to the Special Servicer on 3/31/25 due to a potential default associated with properties with a total ALA representing over 40% of total $425.0MM ALA having been rejected in BK court. The subject Loan is a $425.0MM first lie n, fixed-rate, interest-only, mortgage loan. The $425.0MM Loan is comprised of 9 notes, secured by the fee and leasehold interest in 42, primarily grocery store properties. The 42 Properties, which were 100% leased to six tenants, pursuant to triple net (NNN) leases, consisted of 31 retail Properties, seven industrial Properties, and four office Properties located in eight states. In 3Q24, the tenants in the 3 largest properties (Big Lots & Badcock) in the collateral pool, filed bankruptcy. T he BKs ultimately resulted in the rejection of leases on 9 of the pools 42 properties by 3/31/25. Those lease rejections represented 45% of the Loans ALA. The Borrower contacted the Master Servicer in March and self- reported the default. Fortunately, all of the 2023 underwriting appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The go dark values indicate a drop $178.1MM, which results in a Lo an LTV of only 48.68%. The Borrower has entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level.

The Loan was transferred to the Special Servicer on 3/31/25 due to a potential default associated with properties with a total ALA representing over 40% of total $425.0MM ALA having been rejected in BK court. The subject Loan is a $425.0MM first lie n, fixed-rate, interest-only, mortgage loan. The $425.0MM Loan is comprised of 9 notes, secured by the fee and leasehold interest in 42, primarily grocery store properties. The 42 Properties, which were 100% leased to six tenants, pursuant to triple net (NNN) leases, consisted of 31 retail Properties, seven industrial Properties, and four office Properties located in eight states. In 3Q24, the tenants in the 3 largest properties (Big Lots & Badcock) in the collateral pool, filed bankruptcy. The BKs ultimately resulted in the rejection of leases on 9 of the pools 42 properties by 3/31/25.Those lease rejections represented 45% of the Loans ALA. The Borrower contacted the Master Servicer in March and self- reported the default. Fortunately, all of the 2023 underwriting appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The go dark values indicate a drop $178.1MM, which results in a Lo an LTV of only 48.68%. The Borrower has entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level.

The Loan was transferred to the Special Servicer on 3/31/25 due to a potential default associated with properties with a total ALA representing over 40% of total $425.0MM ALA having been rejected in BK court. The subject Loan is a $425.0MM first lie n, fixed-rate, interest-only, mortgage loan. The $425.0MM Loan is comprised of 9 notes, secured by the fee and leasehold interest in 42, primarily grocery store properties. The 42 Properties, which were 100% leased to six tenants, pursuant to triple net (NNN) leases, consisted of 31 retail Properties, seven industrial Properties, and four office Properties located in eight states. In 3Q24, the tenants in the 3 largest properties (Big Lots & Badcock) in the collateral pool, filed bankruptcy. The BKs ultimately resulted in the rejection of leases on 9 of the pools 42 properties by 3/31/25.Those lease rejections represented 45% of the Loans ALA. The Borrower contacted the Master Servicer in March and self- reported the default. Fortunately, all of the 2023 underwriting appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The go dark values indicate a drop $178.1MM, which results in a Lo an LTV of only 48.68%. The Borrower has entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level.

The Loan was transferred to the Special Servicer on 3/31/25 due to a potential default associated with properties with a total ALA representing over 40% of total $425.0MM ALA having been rejected in BK court. The subject Loan is a $425.0MM first lie n, fixed-rate, interest-only, mortgage loan. The $425.0MM Loan is comprised of 9 notes, secured by the fee and leasehold interest in 42, primarily grocery store properties. The 42 Properties, which were 100% leased to six tenants, pursuant to triple net (NNN) leases, consisted of 31 retail Properties, seven industrial Properties, and four office Properties located in eight states. In 3Q24, the tenants in the 3 largest properties (Big Lots & Badcock) in the collateral pool, filed bankruptcy. The BKs ultimately resulted in the rejection of leases on 9 of the pools 42 properties by 3/31/25. Those lease rejections represented 45% of the Loans ALA. The Borrower contacted the Master Servicer in March and self- reported the default. Fortunately, all of the 2023 underwriting appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The go dark values indicate a drop $178.1MM, which results in a Lo an LTV of only 48.68%. The Borrower has entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level.