Argentic Services Company LP - Special Servicer

"7/11/2025 - The Loan transferred to special servicing on 2/19/2025 due to payment default. At ASC''s direction, counsel filed a foreclosure complaint, a motion for the appointment of a receiver and initiated a lawsuit against the guarantor. Recently, cou nsel filed a default summary judgement motion against the guarantor. In May 2025, the judge approved the receivership motion, however, Borrower filed bankruptcy shortly thereafter to prevent the receiver from taking over operations of the property. The b ankruptcy case is in the early stages and SS is working

7/11/2025 - Loan transferred to special servicing effective 11/20/24 due to Monetary Default. SS and Borrower documented a reinstatement agreement at the end of February and is pending a return to MS. Borrower agreed to bring the loan current and setup ca sh management, which is in place for the succeeding 12 months following reinstatement. SS confirming that Borrower is compliant with cash management provisions before returning to MS.

6/11/2025 - Loan transferred to SS on 1/24/24 due to failure to comply with Excess Cash requirements. Collateral is comprised of 2, adjacent, Class A, 21-story office tower totaling 950K SF in Richmond, VA. Current occupancy is 83%. Cash management is in place and cash flow sweep is active. Special Servicer has engaged legal counsel; however, PNA has not been executed. Special Servicer continues to monitor performance and leasing at the property as the 2 major tenants roll in mid to late 2025. Larges ttenant has exercised its 5 year renewal option and a lease renewal has been executed by tenant. Special Servicer is working with the Borrower a potential reinstatement/return to Master Servicer while also

The receiver was appointed in February 2024 and continues to operate and lease the property. SS visited the asset in October 2024. In May 2025, the judge entered an order approving Lender’s motion for judgement of foreclosure and sale. SS is preparing the necessary documentation and reports ahead of the foreclosure sale, which is expected to take place in the near term."

Asset transferred to special servicing, effective 12/11/24, due to Imminent Monetary Default, however, the loan remains payment current. Borrower indicated that due to the low occupancy at the Property, there is not sufficient cash flow to cover the opera ting expenses after debt service and conducted an initial capital call with their equity partners to address immediate outstanding accounts payable issues. Borrower and SS are working on documenting a modification agreement based

Loan transferred to special servicing effective 3/21/2025 due to Imminent Monetary Default related to the bankruptcy and closure of multiple of the single-tenant properties that make up the portfolio. The Loan remains due for the March 2025 payment. Rite Aid filed Chapter 11 Bankruptcy on 10/15/2023 and 5/5/2025. As such, three portfolio tenants subsequently ceased to pay rent and vacated their respective properties. The special servicer has determined that only 3 of the 8 portfolio properties are open an d operating, there are delinquent taxes and utilities, and some properties are not being managed.The Borrower was sent a default notice, and the loan was accelerated. An ex parte federal complaint for receiver was filed in May 2025 and successfully grante d in June. The receiver is now working to gain access to the collateral properties to determine the extent of any condition issues and address critical items.

Loan transferred to special servicing effective 7/11/25, due to Payment Default (all payments excluding Balloon/Maturity).

The Loan transferred to special servicing on 2/19/2025 due to payment default. At ASC's direction, counsel filed a foreclosure complaint, a motion for the appointment of a receiver and initiated a lawsuit against the guarantor. Recently, counsel file d a default summary judgement motion against the guarantor. In May 2025, the judge approved the receivership motion, however, Borrower filed bankruptcy shortly thereafter to prevent the receiver from taking over operations of the property. The bankruptcy case is in the early stages and SS is working with counsel to implement the best strategy to maximize recovery on the loan.

6/11/2025- The Loan transferred to Special Servicing effective 4/11/23 due to Payment Default. An executed PNA is in place. The property was placed under receivership, effective June 2023 and the receiver employed a broker to market and sell the asset in September 2023. In February 2025, the receiver and a third-party buyer executed a purchase and sale contract, with Lender''s approval. The court has approved the sale. Buyer will have 30 days to close upon expiration of the ongoing due diligence period. Th e special servicer initiated a guarantor lawsuit and a final judgement was entered in April 24. ASC is coordinating with counsel on implementing the best strategy to collect on the judgment.

6/11/2025- Loan was transferred to Special Servicing effective April 4, 2025 due to Payment Default (excluding Balloon/Maturity). The loan is currently past due for the February payment. On the introductory call, the borrower indicated a desire to bring t he loan current, but talks have since stalled on reinstatement terms. The borrower filed for a declaratory judgment that argues the lender should be required to use cash collateral to resolve the payment default. Lender intends to aggressively defend against these claims. Additionally, SS has filed the foreclosure complaint and is pursuing all remedies available under the loan documents.