K-Star Asset Management - Special Servicer

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 and the debt formally demanded and accelerated. Special Servicer continuing evaluating

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. Interest 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

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 lien, 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 Loan 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 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. Special Servicer continuing to evaluate available rights and remedies. Updated appraisal is being finalized.

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 in recent months and were not sufficient to satisfy all 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, road repairs) are in process. Special Servicer commencing pre-foreclosure due diligence while

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. Special Servicer continuing to evaluate available rights and remedies. Updated appraisal is being finalized.

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 the terms of the executed Reinstatement Agreement. Borrower marketed the hotel for sale and executed a PSA with a party that would also assume the debt. SS is monitoring the loan in anticipation of returning this loan to the

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. Special Servicer continuing to evaluate available rights and remedies. Updated appraisal is being finalized.

4/11/2025 - The Loan transferred to special servicing effective 2/18/2025 due to payment default. The loan is currently due for the 12/6/2024 payment. Other amounts (including costs/expenses/default interest/late charges) have not been paid. The loan is s ecured by a mixed-use building in Brooklyn, NY containing both retail (2) and multifamily (3) units. Legal counsel has been engaged. Special Servicer evaluating available rights and remedies. Appraisal has been ordered.

The Loan transferred to new special servicer effective 4/27/23; SS transfer date 12/28/22 due to payment default. Current financial reporting has been requested but not received. Interest paid to 10/6/22. Collateral consists of a 55k SF industrial warehouse in Boonton, NJ. Foreclosure complaint filed 3/10/23 to which Borrower did not respond. Receiver appointed late November 2023 and has assumed control of the asset (including collection of rents). Special Servicer pursuing entry of default judgment against Borrower by the court in the foreclosure action. Borrower expressed an interest in reinstating the loan, though discussions have stalled. A casualty loss occurred at the property (fire) in Q4 2024. Repair/Remediation work is ongoing with the receiver overseeing the process. Updated appraisal is being finalized.