3650R 2022-PF2 Commercial Mortgage Trust: loan annex

Data as of loan data through September 2026; ratings as held in the dataset at 2026-10-01

← 3650R 2022-PF2 Commercial Mortgage Trust · CMBS market

Detail sections for the 19 loans of this deal that do not have a page of their own. Loans with a surveillance history, loans at or above the section's size threshold of $25.0M, and the largest loans in the deal have their own pages, linked from the loan table on the deal page. Every loan in the deal appears either here or on its own page.

Aventura Self-Storage Miami FL

Property	Aventura Self-Storage Miami FL
Address	2641 NE 186th Terrace; Miami, FL 33180
Property type	Self storage
Units, beds or keys	946
Net rentable square feet	not yet reported
Year built	2018
Year last renovated	not yet reported
Original balance	$23.0M
Current balance	$23.0M (September 2026)
Share of deal balance	3.2%
Interest rate at origination	5.41%
Current interest rate	5.41%
Origination date	07-07-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-08-05
Prepayment lockout end	04-04-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$33.9M	05-20-2022	MAI
Most recent reported	$33.9M	2022-05-20	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$621,662
Operating expenses	$187,365
Net operating income	$434,296
Net cash flow	$433,035
DSCR (net cash flow)	1.37
DSCR (net operating income)	1.38
Occupancy	95%
Servicer advances outstanding	$0

Eastgate Plaza

Property	Eastgate Plaza
Address	510-560 Marks Street; Henderson, NV 89014
Property type	Retail
Units, beds or keys	not yet reported
Net rentable square feet	106,487
Year built	2002
Year last renovated	not yet reported
Original balance	$22.2M
Current balance	$22.2M (September 2026)
Share of deal balance	3.1%
Interest rate at origination	4.08%
Current interest rate	4.08%
Origination date	01-24-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-02-05
Prepayment lockout end	10-04-2031
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$34.1M	11-16-2021	MAI
Most recent reported	$34.1M	2021-11-16	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
Cavender Stores, LP	20,530	07-31-2026
Dollar Tree Stores, Inc.	20,000	07-31-2026
Henderson Salon Boutique	12,500	07-31-2026

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$2.9M
Operating expenses	$627,341
Net operating income	$2.3M
Net cash flow	$2.3M
DSCR (net cash flow)	2.45
DSCR (net operating income)	2.51
Occupancy	93%
Servicer advances outstanding	$0

Total Plaza

Property	Total Plaza
Address	1201 Louisiana Street; Houston, TX 77002
Property type	Office
Units, beds or keys	not yet reported
Net rentable square feet	844,461
Year built	1971
Year last renovated	2020
Original balance	$22.5M
Current balance	$20.9M (September 2026)
Share of deal balance	2.9%
Interest rate at origination	4.77%
Current interest rate	4.77%
Origination date	04-05-2022
Original term	120 months
Amortization term	360 months
Interest-only period	not yet reported
Scheduled maturity	2032-04-06
Prepayment lockout end	12-05-2024
Yield maintenance end	10-05-2031
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	Column Financial, Inc.
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$183.3M	03-01-2022	MAI
Most recent reported	$183.3M	2022-03-01	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
TotalEnergies American Services, Inc.	335,201	04-30-2033
Woodside Energy USA Services Inc.	49,929	04-30-2027
Petroleum Club of Houston	30,240	03-31-2031

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$28.1M
Operating expenses	$20.4M
Net operating income	$7.8M
Net cash flow	$6.3M
DSCR (net cash flow)	1.11
DSCR (net operating income)	1.37
Occupancy	81%
Servicer advances outstanding	$0

City Market

Property	City Market
Address	232 West Julian Street 23 Bernard Street; Savannah, GA 31401
Property type	Mixed use
Units, beds or keys	not yet reported
Net rentable square feet	89,975
Year built	1850
Year last renovated	2022
Original balance	$20.5M
Current balance	$20.5M (September 2026)
Share of deal balance	2.8%
Interest rate at origination	4.50%
Current interest rate	4.50%
Origination date	03-31-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-04-05
Prepayment lockout end	01-04-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$31.9M	01-17-2022	MAI
Most recent reported	$31.9M	2022-01-17	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
WEXFORD'S IRISH PU	13,663	04-30-2033
CMAC	9,125	12-31-2028
BELFORD'S	6,665	12-31-2031

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$5.0M
Operating expenses	$1.8M
Net operating income	$3.1M
Net cash flow	$3.1M
DSCR (net cash flow)	3.27
DSCR (net operating income)	3.33
Occupancy	98%
Servicer advances outstanding	$0

500 Delaware Avenue

Property	500 Delaware Avenue
Address	500 Delaware Avenue; Wilmington, DE 19801
Property type	Office
Units, beds or keys	not yet reported
Net rentable square feet	371,222
Year built	2006
Year last renovated	2020
Original balance	$20.0M
Current balance	$20.0M (September 2026)
Share of deal balance	2.8%
Interest rate at origination	4.84%
Current interest rate	4.84%
Origination date	04-07-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-05-05
Prepayment lockout end	11-04-2031
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$125.7M	03-03-2022	MAI
Most recent reported	$125.7M	2022-03-03	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
Wilmington Savings Fund Society, FSI	74,421	12-31-2039
Morris James LLP	64,928	05-31-2026
Sargent & Lundy, LLC	47,441	10-31-2027

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$12.8M
Operating expenses	$4.7M
Net operating income	$8.1M
Net cash flow	$7.9M
DSCR (net cash flow)	1.89
DSCR (net operating income)	1.94
Occupancy	94%
Servicer advances outstanding	$0

Liberty Avenue Industrial

Property	Liberty Avenue Industrial
Address	317 Glenmore Avenue; Brooklyn, NY 11207
Property type	Industrial
Units, beds or keys	not yet reported
Net rentable square feet	120,000
Year built	1962
Year last renovated	not yet reported
Original balance	$18.9M
Current balance	$18.9M (September 2026)
Share of deal balance	2.6%
Interest rate at origination	5.75%
Current interest rate	5.75%
Origination date	10-20-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-11-07
Prepayment lockout end	09-06-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$45.3M	06-23-2022	MAI
Most recent reported	$45.3M	2022-06-23	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
SZY Holdings	70,000	10-19-2037
Ferguson	40,000	11-30-2027
Badminking LLC	10,000	10-31-2032

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	not yet reported
Revenue	not yet reported
Operating expenses	not yet reported
Net operating income	not yet reported
Net cash flow	not yet reported
DSCR (net cash flow)	not yet reported
DSCR (net operating income)	not yet reported
Occupancy	not yet reported
Servicer advances outstanding	$0

Nellis Plaza

Property	Nellis Plaza
Address	305-325 North Nellis Boulevard; Las Vegas, NV 98110
Property type	Retail
Units, beds or keys	not yet reported
Net rentable square feet	83,930
Year built	2009
Year last renovated	not yet reported
Original balance	$15.5M
Current balance	$15.5M (September 2026)
Share of deal balance	2.2%
Interest rate at origination	6.19%
Current interest rate	6.19%
Origination date	10-27-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-11-06
Prepayment lockout end	07-05-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	DBR Investments Co. Limited
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$25.0M	09-07-2022	MAI
Most recent reported	$25.0M	2022-09-07	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
Abacus Business Capital, Inc.	16,633	04-30-2031
Hibachi Grill and Supreme Buffet, Inc.	13,525	10-31-2028
Fresenius Medical Care	9,600	08-31-2031

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$2.7M
Operating expenses	$808,182
Net operating income	$1.9M
Net cash flow	$1.7M
DSCR (net cash flow)	1.79
DSCR (net operating income)	1.90
Occupancy	100%
Servicer advances outstanding	$0

Eagle Springs (and 7 more properties)

Property	Eagle Springs (and 7 more properties)
Address	1101 Eagle Springs Road; 360 Ringgold Industrial Pkwy; 1091 Carolina Pines Drive; 741-748 4th Street; 760 West 1000 N; 2200 North McRoy Drive; 317 Kendall St; 13722 Bill McGee Rd; Danville, VA (and 7 more) 24540
Property type	Industrial
Units, beds or keys	not yet reported
Net rentable square feet	not yet reported
Year built	not yet reported
Year last renovated	["2017", "2014", "2004", "1987"]
Original balance	$15.0M
Current balance	$15.0M (September 2026)
Share of deal balance	2.1%
Interest rate at origination	6.33%
Current interest rate	6.33%
Origination date	09-29-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-10-06
Prepayment lockout end	not yet reported
Yield maintenance end	04-05-2032
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	Citi Real Estate Funding Inc.
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
Most recent reported	not yet reported	not yet reported	["MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI"]

Largest tenants

Tenant	Square feet	Lease expiration
IPG	not yet reported	["10-31-2042", "10-31-2042", "10-31-2042", "10-31-2042", "10-31-2042", "10-31-2042", "10-31-2042", "10-31-2042"]

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$3.4M
Operating expenses	$169,175
Net operating income	$3.2M
Net cash flow	$3.1M
DSCR (net cash flow)	1.85
DSCR (net operating income)	1.93
Occupancy	100%
Servicer advances outstanding	$0

Restoration Hardware Headquarters

Property	Restoration Hardware Headquarters
Address	5639-5725 Paradise Drive; Corte Madera, CA 94925
Property type	Office
Units, beds or keys	not yet reported
Net rentable square feet	97,951
Year built	1978
Year last renovated	not yet reported
Original balance	$15.0M
Current balance	$15.0M (September 2026)
Share of deal balance	2.1%
Interest rate at origination	5.38%
Current interest rate	5.38%
Origination date	05-19-2022
Original term	84 months
Amortization term	not yet reported
Interest-only period	84 months
Scheduled maturity	2029-06-05
Prepayment lockout end	02-04-2029
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$42.5M	01-25-2022	MAI
Most recent reported	$42.5M	2022-01-25	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
RH US, LLC (t0002065)	97,890	05-31-2028

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$7.3M
Operating expenses	$2.8M
Net operating income	$4.5M
Net cash flow	$4.4M
DSCR (net cash flow)	2.78
DSCR (net operating income)	2.85
Occupancy	100%
Servicer advances outstanding	$0

Fairfield Inn Klamath Falls

Property	Fairfield Inn Klamath Falls
Address	460 Timbermill Drive; Klamath Falls, OR 97601
Property type	Lodging
Units, beds or keys	92
Net rentable square feet	not yet reported
Year built	2020
Year last renovated	not yet reported
Original balance	$14.0M
Current balance	$13.3M (September 2026)
Share of deal balance	1.8%
Interest rate at origination	6.03%
Current interest rate	6.03%
Origination date	07-15-2022
Original term	120 months
Amortization term	360 months
Interest-only period	not yet reported
Scheduled maturity	2032-08-05
Prepayment lockout end	12-04-2024
Yield maintenance end	05-04-2032
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$22.7M	05-05-2022	MAI
Most recent reported	$22.7M	2022-05-05	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$4.3M
Operating expenses	$2.6M
Net operating income	$1.7M
Net cash flow	$1.5M
DSCR (net cash flow)	1.52
DSCR (net operating income)	1.69
Occupancy	74%
Servicer advances outstanding	$0

800 Cesar Chavez

Property	800 Cesar Chavez
Address	630 and 640-800 Cesar Chavez; San Francisco, CA 94124
Property type	Industrial
Units, beds or keys	not yet reported
Net rentable square feet	122,360
Year built	1953
Year last renovated	2022
Original balance	$13.0M
Current balance	$13.0M (September 2026)
Share of deal balance	1.8%
Interest rate at origination	4.11%
Current interest rate	4.11%
Origination date	02-22-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-03-05
Prepayment lockout end	12-04-2031
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$70.7M	03-28-2022	MAI
Most recent reported	$70.7M	2022-03-28	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
West East	122,360	11-30-2030

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$4.5M
Operating expenses	$1.3M
Net operating income	$3.2M
Net cash flow	$3.2M
DSCR (net cash flow)	2.00
DSCR (net operating income)	2.00
Occupancy	100%
Servicer advances outstanding	$0

Summit Shopping Center

Property	Summit Shopping Center
Address	7302-7408 SW 34th Avenue 3300 Coulter St S; Amarillo, TX 79121
Property type	Retail
Units, beds or keys	not yet reported
Net rentable square feet	166,486
Year built	1986
Year last renovated	2003
Original balance	$12.2M
Current balance	$11.1M (September 2026)
Share of deal balance	1.5%
Interest rate at origination	3.38%
Current interest rate	3.38%
Origination date	02-01-2022
Original term	120 months
Amortization term	360 months
Interest-only period	not yet reported
Scheduled maturity	2032-02-05
Prepayment lockout end	02-04-2025
Yield maintenance end	12-04-2031
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$22.3M	11-12-2021	MAI
Most recent reported	$22.3M	2021-11-12	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
T. J. Maxx	25,380	01-31-2032
Ace hardware	12,036	09-30-2035
Champion BBQ Supply & Spice	8,784	09-30-2028

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$2.2M
Operating expenses	$832,402
Net operating income	$1.3M
Net cash flow	$1.2M
DSCR (net cash flow)	1.89
DSCR (net operating income)	2.05
Occupancy	74%
Servicer advances outstanding	$0

Meadowood Mall

Property	Meadowood Mall
Address	5001 Meadowood Mall Circle; Reno, NV 89502
Property type	Retail
Units, beds or keys	not yet reported
Net rentable square feet	456,841
Year built	1978
Year last renovated	2013
Original balance	$12.5M
Current balance	$11.0M (September 2026)
Share of deal balance	1.5%
Interest rate at origination	3.93%
Current interest rate	3.93%
Origination date	11-05-2021
Original term	60 months
Amortization term	300 months
Interest-only period	not yet reported
Scheduled maturity	2026-12-01
Prepayment lockout end	05-31-2026
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$227.1M	10-11-2021	MAI
Most recent reported	$227.1M	2021-10-11	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
Macy's	98,721	03-31-2030
Dick's Clothing & Sporting Goods	50,133	01-31-2032
Crunch Fitness	25,183	08-31-2029

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	03-31-2026
Revenue	$22.0M
Operating expenses	$5.6M
Net operating income	$16.4M
Net cash flow	$15.5M
DSCR (net cash flow)	3.65
DSCR (net operating income)	3.86
Occupancy	100%
Servicer advances outstanding	$0

PetSmart HQ

Property	PetSmart HQ
Address	19601 North 27th Avenue; Phoenix, AZ 85027
Property type	Office
Units, beds or keys	not yet reported
Net rentable square feet	365,672
Year built	1997
Year last renovated	2008
Original balance	$10.0M
Current balance	$10.0M (September 2026)
Share of deal balance	1.4%
Interest rate at origination	4.28%
Current interest rate	4.28%
Origination date	03-31-2021
Original term	84 months
Amortization term	not yet reported
Interest-only period	84 months
Scheduled maturity	2028-04-05
Prepayment lockout end	01-04-2028
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$110.5M	03-10-2021	MAI
Most recent reported	$108.6M	2021-03-10	MAI

Change from securitization to the most recent reported valuation: -1.7%.

Largest tenants

Tenant	Square feet	Lease expiration
PetSmart Home Office Inc	365,672	03-31-2032

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$10.7M
Operating expenses	$4.0M
Net operating income	$6.7M
Net cash flow	$6.2M
DSCR (net cash flow)	2.12
DSCR (net operating income)	2.28
Occupancy	100%
Servicer advances outstanding	$0

Icon One Daytona

Property	Icon One Daytona
Address	1820 Legends Lane 236 Highbanks Boulevard; Daytona Beach, FL 32114
Property type	Multifamily
Units, beds or keys	282
Net rentable square feet	not yet reported
Year built	2019
Year last renovated	not yet reported
Original balance	$10.0M
Current balance	$10.0M (September 2026)
Share of deal balance	1.4%
Interest rate at origination	3.77%
Current interest rate	3.77%
Origination date	08-10-2021
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2031-09-05
Prepayment lockout end	07-04-2031
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$72.9M	06-18-2021	MAI
Most recent reported	$72.9M	2021-06-18	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Latest financials

Financial period end (latest)	not yet reported
Revenue	not yet reported
Operating expenses	not yet reported
Net operating income	not yet reported
Net cash flow	not yet reported
DSCR (net cash flow)	not yet reported
DSCR (net operating income)	not yet reported
Occupancy	not yet reported
Servicer advances outstanding	$0

Lakeshore Marketplace

Property	Lakeshore Marketplace
Address	5141 Harvey Street; Norton Shores, MI 49444
Property type	Retail
Units, beds or keys	not yet reported
Net rentable square feet	349,332
Year built	1995
Year last renovated	2019
Original balance	$9.8M
Current balance	$9.0M (September 2026)
Share of deal balance	1.2%
Interest rate at origination	4.08%
Current interest rate	4.08%
Origination date	12-07-2021
Original term	60 months
Amortization term	360 months
Interest-only period	not yet reported
Scheduled maturity	2027-01-05
Prepayment lockout end	12-04-2024
Yield maintenance end	10-04-2026
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$32.6M	10-23-2021	MAI
Most recent reported	$32.6M	2021-10-23	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
HOBBY LOBBY	65,214	12-31-2030
DUNHAMS	38,634	01-31-2027
BURLINGTON COAT FACTORY	33,731	02-28-2031

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$4.9M
Operating expenses	$1.8M
Net operating income	$3.1M
Net cash flow	$2.8M
DSCR (net cash flow)	2.21
DSCR (net operating income)	2.47
Occupancy	95%
Servicer advances outstanding	$0

Summer Glen Apartments

Property	Summer Glen Apartments
Address	6090 Terry Road; Jacksonville, FL 32216
Property type	Multifamily
Units, beds or keys	135
Net rentable square feet	not yet reported
Year built	1987
Year last renovated	not yet reported
Original balance	$7.4M
Current balance	$7.4M (September 2026)
Share of deal balance	1.0%
Interest rate at origination	4.26%
Current interest rate	4.26%
Origination date	03-11-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-04-06
Prepayment lockout end	01-05-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	3650 Real Estate Investment Trust 2 LLC
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$11.6M	01-31-2022	MAI
Most recent reported	$11.6M	2022-01-31	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Latest financials

Financial period end (latest)	not yet reported
Revenue	not yet reported
Operating expenses	not yet reported
Net operating income	not yet reported
Net cash flow	not yet reported
DSCR (net cash flow)	not yet reported
DSCR (net operating income)	not yet reported
Occupancy	not yet reported
Servicer advances outstanding	$0

Prospect St Industrial

Property	Prospect St Industrial
Address	14301 Prospect Street; Dearborn, MI 48126
Property type	Warehouse
Units, beds or keys	not yet reported
Net rentable square feet	169,589
Year built	1988
Year last renovated	2020
Original balance	$5.5M
Current balance	$5.5M (September 2026)
Share of deal balance	0.8%
Interest rate at origination	7.08%
Current interest rate	7.08%
Origination date	10-25-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-11-06
Prepayment lockout end	07-05-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	DBR Investments Co. Limited
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$9.2M	09-06-2022	MAI
Most recent reported	$9.2M	2022-09-06	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Largest tenants

Tenant	Square feet	Lease expiration
Goodwill Ind NNN Industrial Solutions, LLC	169,589	07-31-2030

The three largest tenants as reported in the latest asset-level record.

Latest financials

Financial period end (latest)	06-30-2026
Revenue	$1.2M
Operating expenses	$392,553
Net operating income	$784,269
Net cash flow	$736,630
DSCR (net cash flow)	1.87
DSCR (net operating income)	1.99
Occupancy	100%
Servicer advances outstanding	$0

Store-It-All Owensboro

Property	Store-It-All Owensboro
Address	2946 Fairview Drive; Owensboro, KY 42303
Property type	Self storage
Units, beds or keys	433
Net rentable square feet	not yet reported
Year built	2004
Year last renovated	2015
Original balance	$3.0M
Current balance	$3.0M (September 2026)
Share of deal balance	0.4%
Interest rate at origination	6.16%
Current interest rate	6.16%
Origination date	09-16-2022
Original term	120 months
Amortization term	not yet reported
Interest-only period	120 months
Scheduled maturity	2032-10-06
Prepayment lockout end	07-05-2032
Yield maintenance end	not yet reported
Servicer	Midland Loan Services
Loan servicer	not yet reported
Originator	Citi Real Estate Funding Inc.
Current status	Current
Specially serviced now	No
Defeased	No

Valuation

Basis	Amount	Date	Source (as filed)
At securitization	$5.0M	08-08-2022	MAI
Most recent reported	$5.0M	2022-08-08	MAI

Change from securitization to the most recent reported valuation: 0.0%.

Latest financials

Financial period end (latest)	not yet reported
Revenue	not yet reported
Operating expenses	not yet reported
Net operating income	not yet reported
Net cash flow	not yet reported
DSCR (net cash flow)	not yet reported
DSCR (net operating income)	not yet reported
Occupancy	not yet reported
Servicer advances outstanding	$0