BBCMS 2023-C19

Loan transferred to Special Servicing effective 4/9/25 due to payment default. Collateral is a 724,424 sf industrial property located in Mount Vernon, IL which is 100% occupied by Walgreens Boots Alliance and utilized as a regional distribution center. Debt Service currently paid to 1/1/25. Hello Letter has been noticed and PNL is executed as of 4/23/2025. Legal counsel has been engaged on behalf of the Trust. Servicer is currently reviewing Borrower's proposal to bring current and

As of April 2026, the loan remains in payment default and the Borrower has not complied with cash management implementation. Special Servicer has received a receivership proposal and its counsel is drafting a foreclosure complaint. A recent press release indicates a new virtual gaming tenant is in occupancy at the property; however, pursuant to the most recent property financial statements delivered, occupancy was 44.65% as of 12/31/2025 and DSCR (NOI) was 3.49x as of 12/31/2025. Special Servicer will continue to dual track a foreclosure strategy while working to engage the Borrower in workout discussions.

The Loan transferred to special servicing effective 2/7/2024 due to payment default. The loan is currently due for the 8/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges) have not been paid. The Loan is secured by two apartment buildings totaling 16-units in Brooklyn, NY. Special Servicer was seeking to resume reinstatement discussions, though the loan has remained delinquent. Legal counsel has been engaged and the debt formally demanded and accelerated. Foreclosure com plaint filed December 2024. Updated appraisal has been finalized. Note sale effort launched late June 2025, though special servicer ultimately determined to proceed with foreclosure rather than selling the note. Receiver appointed in December 2025., though it has encountered challenges in procuring information from the owner. Special servicer continuing to pursue foreclosure.

The Loan transferred to special servicing effective 1/18/24 due to various ongoing issues with the loan/collateral (including payment default). Interest is currently paid to 6/6/2024 (debt has been accelerated). The property experienced a casualty loss in Q2 2023. Cash flows at the property decreased and ceased covering waterfall obligations. One of the parking structures was closed by the municipality. Foreclosure complaint and motion for receiver filed early June 2024. Receiver appointed 7/12/2024. Receiver evaluation of the asset remains ongoing, though several projects (HVAC, parking garage, etc.) are in process. Special Servicer has completed pre-foreclosure diligence and has received the judgment of foreclosure. A receiver sale is also being evaluated. Updated appraisal is being finalized. A repurchase claim has been filed with the initial hearing in the litigation scheduled for late July 2026.

Borrower submitted proposed timeline to address defaults, which is currently under review. Bring current calculation drafted and sent to counsel for review prior to delivery to Borrower.

Loan transferred to SS on 3/25 due to default associated with properties with a total ALA representing over 40% of total ALA having been rejected in BK court. The Loan is a $425MM 1st lien, fixed-rate, interest-only, mortgage loan. The $425MM Loan is comprised of 9 notes, secured by fee & leasehold interest in 42, primarily grocery store properties. The 42 Properties, were 100% leased to six tenants, pursuant to triple net ( NNN ) leases, consisted of 31 retail Properties, 7 industrial, and 4 office Proper ties located in 8 states. In 3Q24, the tenants in the 3 largest properties filed BK. The BK's 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 Loan's ALA. The Borrower contacted the Master in 3/25 and self-reported. The 2023 UW appraisals have go dark values that allow the Trust to quantify the potential diminution of value associated with the subject buildings going dark. The Borrower entered into a 6-mos. forbearance, which requires the Loan remains current, while the Borrower works to get below the 40% level. Lender has approved modification that will provide an immediate $72MM payment guarantee to cover a portion of the diminution in value caused by the 9 buildings going dark and retaining an LTV of 40.4%, in return from increasing the 40% ALA default level to 50%. Borrower will incentivize the Borrower to lease or sell the dark properties ASAP. Modification has closed and loan will be returned to the Master in next 30 to 45 days.

The Loan transferred to special servicing effective 2/7/2024 due to payment default. The loan is currently due for the 9/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges)) have not been paid. The loan is secured by a five-building multifamily portfolio in Philadelphia, PA totaling 28-units (and one retail space). Special Servicer was seeking to resume reinstatement discussions, though the loan has remained delinquent. Legal counsel has been engaged and the debt formally demanded and accelerated. Foreclosure filed January 2025. MSJ filed August 2025. Updated appraisal is being finalized. Note sale effort launched late June 2025 with closing anticipated prior to year-end.

The Loan transferred to special servicing effective 2/7/2024 due to payment default. The loan is secured by a 15-unit multifamily property in the Park Slope neighborhood of Brooklyn, NY. The loan is currently due for the 8/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges) have not been paid. Special Servicer was seeking to resume reinstatement discussions, though the loan has remained delinquent. Legal counsel has been engaged and the debt formally demanded and accelerated. Foreclosure complaint filed December 2024. Updated appraisal is being finalized. Note sale effort launched late June 2025 with final results being analyzed for recommendation.

Loan transferred to SS on 1/31/2024 as a result of Monetary Default. The Loan is secured by a 100 key limited-service hotel located in Hesperia, CA. Legal counsel was engaged and the notice of default was sent. The Loan is performing pursuant to theterms of the executed Reinstatement Agreement. The RTM is in process for this loan.

The Loan transferred to special servicing effective 1/9/2025 due to payment default. The loan is currently due for the 11/6/2024 payment Other amounts (including costs/expenses/default interest/late charges) have not been paid. The loan is secured by a 6-u nit multifamily building in Brooklyn, NY. Contact has been made with Borrower and PNA executed. Legal counsel has been engaged, the debt formally demanded and accelerated, and foreclosure filed. Appraisal is being finalized. Note sale effort launched late June 2025 with final results being analyzed for recommendation.