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Monday, October 19, 2026

Morgan Stanley Capital I Trust 2021-L5: loan annex

Page built October 19, 2026

Loan detail for Morgan Stanley Capital I Trust 2021-L5.

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

← Morgan Stanley Capital I Trust 2021-L5 · CMBS market

Detail sections for the 51 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.

Venture & Forsyth (and 5 more properties)

PropertyVenture & Forsyth (and 5 more properties)
Address6930 6944 6948 & 6950 Venture Circle; 930 Carter Road; 401 & 500 Central Park Drive; 2828 & 2832 Michigan Avenue; 943 & 955 Taft Vineland Road; 190 Lyman Road; Orlando, FL (and 5 more) 32807
Property typeIndustrial
Units, beds or keys["0", "0", "0", "0", "0", "0"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$20.0M
Current balance$20.0M (September 2026)
Share of deal balance2.7%
Interest rate at origination3.91%
Current interest rate3.91%
Origination date04-02-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI", "MAI", "MAI", "MAI", "MAI"]

Largest tenants

TenantSquare feetLease expiration
CNC Supply USA LLCnot yet reported["03-31-2029", "02-29-2020", "07-31-2010", "07-31-2014", "11-30-2016", "01-31-2025"]
Ryan Leenot yet reported["04-30-2026", "01-31-2027", "08-31-2026", "04-30-2025", "07-31-2025", "05-31-2015"]
AUTO DOOR STORE WEST LLCnot yet reported["06-30-2025", "12-31-2022", "04-30-2023", "01-31-2020", "09-30-2022", "04-30-2023"]

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

Latest financials

Financial period end (latest)06-30-2026
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Sunrise Corporate Center I

PropertySunrise Corporate Center I
Address1300 Sawgrass Corporate Parkway; Sunrise, FL 33323
Property typeOffice
Units, beds or keys0
Net rentable square feet107,304
Year built1999
Year last renovatednot yet reported
Original balance$16.2M
Current balance$16.2M (September 2026)
Share of deal balance2.2%
Interest rate at origination3.63%
Current interest rate3.63%
Origination date03-24-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$24.9M03-01-2021not yet reported
Most recent reported$24.9M2021-03-01MAI

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

Largest tenants

TenantSquare feetLease expiration
Synechron Inc19,39312-31-2026
AlphaStaff Inc14,60407-31-2027
Global Enterprises LLC8,12205-31-2027

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

Latest financials

Financial period end (latest)03-31-2026
Revenue$2.6M
Operating expenses$1.4M
Net operating income$1.2M
Net cash flow$951,638
DSCR (net cash flow)1.59
DSCR (net operating income)1.99
Occupancy64%
Servicer advances outstanding$0

Colonnades West

PropertyColonnades West
Address10941 W Broad St; Glen Allen, VA 23060
Property typeRetail
Units, beds or keys0
Net rentable square feet136,082
Year built1998
Year last renovatednot yet reported
Original balance$15.5M
Current balance$15.5M (September 2026)
Share of deal balance2.1%
Interest rate at origination3.81%
Current interest rate3.81%
Origination date12-30-2019
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2030-01-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$23.1M10-31-2019not yet reported
Most recent reported$23.1M2019-10-31MAI

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

Largest tenants

TenantSquare feetLease expiration
Marshalls of MA Inc.30,38201-31-2034
Golf and Tennis Pro Shop30,18901-31-2034
Ross Stores Inc25,60001-31-2030

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.3M
Operating expenses$271,472
Net operating income$1.0M
Net cash flow$996,068
DSCR (net cash flow)3.33
DSCR (net operating income)3.41
Occupancy100%
Servicer advances outstanding$0

LA Creative Industrial Portfolio

PropertyLA Creative Industrial Portfolio
Address2079 East 15th Street; Los Angeles, CA 90021
Property typeIndustrial
Units, beds or keys0
Net rentable square feet144,339
Year built1923
Year last renovatednot yet reported
Original balance$15.2M
Current balance$15.2M (September 2026)
Share of deal balance2.1%
Interest rate at origination4.09%
Current interest rate4.09%
Origination date04-06-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$30.8M11-20-2020not yet reported
Most recent reported$30.8M2020-11-20MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$865,126
Operating expenses$616,336
Net operating income$248,790
Net cash flow$176,620
DSCR (net cash flow)0.28
DSCR (net operating income)0.39
Occupancy32%
Servicer advances outstanding$0

12510 & 12600 Cardinal Meadow

Property12510 & 12600 Cardinal Meadow
Address12510 and 12600 Cardinal Meadow Drive; Sugar Land, TX 77478
Property typeIndustrial
Units, beds or keys0
Net rentable square feet273,240
Year builtnot yet reported
Year last renovated2013
Original balance$16.6M
Current balance$15.0M (September 2026)
Share of deal balance2.1%
Interest rate at origination4.43%
Current interest rate4.43%
Origination date03-26-2021
Original term120 months
Amortization term360 months
Interest-only periodnot yet reported
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$25.1M12-08-2020not yet reported
Most recent reported$25.1M2020-12-08MAI

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

Largest tenants

TenantSquare feetLease expiration
Sigma Piping Products LLC161,70512-31-2099
Unique Industrial95,92012-31-2099
Unique Fasteners15,61512-31-2099

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$2.2M
Operating expenses$645,533
Net operating income$1.6M
Net cash flow$1.4M
DSCR (net cash flow)1.45
DSCR (net operating income)1.58
Occupancy100%
Servicer advances outstanding$0

Frankfort Crossing

PropertyFrankfort Crossing
Address21110 - 21230 South La Grange Road; Frankfort, IL 60423
Property typeRetail
Units, beds or keys0
Net rentable square feet114,534
Year built1992
Year last renovatednot yet reported
Original balance$14.6M
Current balance$14.5M (September 2026)
Share of deal balance2.0%
Interest rate at origination3.45%
Current interest rate3.45%
Origination date03-19-2021
Original term120 months
Amortization term360 months
Interest-only period60 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$22.6M02-06-2021not yet reported
Most recent reported$22.6M2021-02-06MAI

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

Largest tenants

TenantSquare feetLease expiration
JEWEL FOOD STORES INC.64,93711-30-2027
Steinman Inc.10,25108-31-2027
Frankfort Fitness LLC6,95606-30-2034

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.0M
Operating expenses$309,024
Net operating income$724,930
Net cash flow$662,555
DSCR (net cash flow)2.21
DSCR (net operating income)2.42
Occupancy99%
Servicer advances outstanding$0

Crown Point Center (and 2 more properties)

PropertyCrown Point Center (and 2 more properties)
Address18300 and 18400 Cottonwood Drive; 7208 Ho Hum Drive; 26453 26455 26457 and 26459 Bouquet Canyon Road; Parker, CO (and 2 more) 80138
Property typeMixed use
Units, beds or keys["0", "0", "0"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$12.8M
Current balance$12.8M (September 2026)
Share of deal balance1.7%
Interest rate at origination4.46%
Current interest rate4.46%
Origination date03-10-2021
Original term120 months
Amortization term360 months
Interest-only period60 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI", "MAI"]

Largest tenants

TenantSquare feetLease expiration
Comcast Cable Communications Management LLCnot yet reported["11-30-2029", "11-30-2028", "02-28-2030"]
Best Pizza Deliverynot yet reported["01-31-2029", "07-01-2033", "07-25-2034"]
central nailsnot yet reported["01-31-2028", "10-31-2027", "12-31-2025"]

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

Latest financials

Financial period end (latest)["12-31-2025", "12-31-2025", "12-31-2025"]
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Massengills MHC (and 6 more properties)

PropertyMassengills MHC (and 6 more properties)
Address4414 US-70 BUS; 1752 Dixon Swimming Pool Rd; 3 Brookhaven Ave; 19 Landis Ave; 7913 National Rd SW; 1111 Geneva Ave; 620 Rainbow Dr; Clayton, NC (and 6 more) 27520
Property typeManufactured housing
Units, beds or keys["79", "86", "54", "54", "25", "38", "31"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$12.9M
Current balance$12.4M (September 2026)
Share of deal balance1.7%
Interest rate at origination4.10%
Current interest rate4.10%
Origination date04-19-2021
Original term120 months
Amortization term360 months
Interest-only period36 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI", "MAI", "MAI", "MAI", "MAI", "MAI"]

Latest financials

Financial period end (latest)["12-31-2025", "03-31-2026", "03-31-2026", "03-31-2026", "03-31-2026", "03-31-2026", "03-31-2026"]
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

179 East 116th Street

Property179 East 116th Street
Address179 East 116th Street; New York, NY 10029
Property typeMixed use
Units, beds or keys0
Net rentable square feet22,870
Year built1910
Year last renovated2005
Original balance$12.0M
Current balance$12.0M (September 2026)
Share of deal balance1.6%
Interest rate at origination4.07%
Current interest rate4.07%
Origination date03-31-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$20.6M03-02-2021not yet reported
Most recent reported$20.6M2021-03-02MAI

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

Largest tenants

TenantSquare feetLease expiration
Project Renewal Inc8,79010-15-2028
JP Morgan Chase Bank4,40012-31-2027
Harlem Beauty Suites LLC2,75009-30-2031

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

Latest financials

Financial period end (latest)03-31-2026
Revenue$1.3M
Operating expenses$755,016
Net operating income$506,436
Net cash flow$467,557
DSCR (net cash flow)0.94
DSCR (net operating income)1.02
Occupancy93%
Servicer advances outstanding$0

25-22 30th Drive

Property25-22 30th Drive
Address25-22 30th Drive; Astoria, NY 11102
Property typeMultifamily
Units, beds or keys31
Net rentable square feetnot yet reported
Year built2020
Year last renovatednot yet reported
Original balance$12.0M
Current balance$12.0M (September 2026)
Share of deal balance1.6%
Interest rate at origination4.34%
Current interest rate4.34%
Origination date04-01-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$19.1M05-01-2021not yet reported
Most recent reported$19.1M2021-05-01MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$1.1M
Operating expenses$186,903
Net operating income$952,016
Net cash flow$952,016
DSCR (net cash flow)1.80
DSCR (net operating income)1.80
Occupancy100%
Servicer advances outstanding$0

Appletree Business Park

PropertyAppletree Business Park
Address2875 Union Road; Cheektowaga, NY 14227
Property typeOffice
Units, beds or keys0
Net rentable square feet423,047
Year built1972
Year last renovated2000
Original balance$12.3M
Current balance$11.4M (September 2026)
Share of deal balance1.6%
Interest rate at origination3.84%
Current interest rate3.84%
Origination date11-25-2020
Original term120 months
Amortization term360 months
Interest-only period24 months
Scheduled maturity2030-12-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$87.5M11-10-2020not yet reported
Most recent reported$87.5M2020-11-10MAI

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

Largest tenants

TenantSquare feetLease expiration
Internal Revenue Service96,50212-26-2035
County Of Erie78,22903-31-2029
Time Warner Cable Texas LLC51,94301-31-2029

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$8.2M
Operating expenses$3.8M
Net operating income$4.4M
Net cash flow$4.0M
DSCR (net cash flow)1.45
DSCR (net operating income)1.56
Occupancy72%
Servicer advances outstanding$0

The Villas at Willow Run

PropertyThe Villas at Willow Run
Address13-70 Rollins Ln; Willow Street, PA 17584
Property typeMultifamily
Units, beds or keys72
Net rentable square feetnot yet reported
Year built2019
Year last renovatednot yet reported
Original balance$11.1M
Current balance$11.1M (September 2026)
Share of deal balance1.5%
Interest rate at origination3.74%
Current interest rate3.74%
Origination date04-01-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$17.0M02-11-2021not yet reported
Most recent reported$17.0M2021-02-11MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.6M
Operating expenses$591,173
Net operating income$1.0M
Net cash flow$1.0M
DSCR (net cash flow)2.40
DSCR (net operating income)2.45
Occupancy99%
Servicer advances outstanding$0

6851 River Road

Property6851 River Road
Address6851 River Road; Pennsauken, NJ 08110
Property typeIndustrial
Units, beds or keys0
Net rentable square feet201,700
Year built1997
Year last renovatednot yet reported
Original balance$12.5M
Current balance$10.1M (September 2026)
Share of deal balance1.4%
Interest rate at origination4.17%
Current interest rate4.17%
Origination date04-01-2021
Original term120 months
Amortization term240 months
Interest-only periodnot yet reported
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$23.6M02-26-2021not yet reported
Most recent reported$23.6M2021-02-26MAI

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

Largest tenants

TenantSquare feetLease expiration
Tristate Apartment Furnishers LLC201,70009-30-2035

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$2.1M
Operating expenses$562,591
Net operating income$1.5M
Net cash flow$1.5M
DSCR (net cash flow)1.61
DSCR (net operating income)1.63
Occupancy100%
Servicer advances outstanding$0

Pillars at HBU

PropertyPillars at HBU
Address7259 Southwest Freeway; Houston, TX 77074
Property typeRetail
Units, beds or keys0
Net rentable square feet39,884
Year built2016
Year last renovatednot yet reported
Original balance$9.3M
Current balance$9.3M (September 2026)
Share of deal balance1.3%
Interest rate at origination3.86%
Current interest rate3.86%
Origination date03-12-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorAREF
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$19.2M01-14-2021not yet reported
Most recent reported$19.2M2021-01-14MAI

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

Largest tenants

TenantSquare feetLease expiration
Fed Ex4,92108-31-2031
Blaze pizza2,99910-04-2027
Salata HBU2,80702-28-2027

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$857,121
Operating expenses$249,673
Net operating income$607,448
Net cash flow$593,254
DSCR (net cash flow)3.27
DSCR (net operating income)3.35
Occupancy90%
Servicer advances outstanding$0

The Delaware (and 1 more properties)

PropertyThe Delaware (and 1 more properties)
Address2205 N Delaware St; 632 Doctor M.L.K. Jr St; Indianapolis, IN (and 1 more) 46205
Property typeMultifamily
Units, beds or keys["47", "30"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$9.2M
Current balance$9.2M (September 2026)
Share of deal balance1.3%
Interest rate at origination3.85%
Current interest rate3.85%
Origination date02-25-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-03-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI"]

Latest financials

Financial period end (latest)["03-31-2026", "03-31-2026"]
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Durango Commons

PropertyDurango Commons
Address8550 8570 and 8580 West Charleston Boulevard; Las Vegas, NV 89117
Property typeRetail
Units, beds or keys0
Net rentable square feet39,216
Year built1991
Year last renovatednot yet reported
Original balance$8.6M
Current balance$8.6M (September 2026)
Share of deal balance1.2%
Interest rate at origination4.00%
Current interest rate4.00%
Origination date04-01-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$13.3M02-17-2021not yet reported
Most recent reported$13.3M2021-02-17MAI

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

Largest tenants

TenantSquare feetLease expiration
CVS PHARMACY17,27506-30-2030
Best Mattress4,91709-30-2028
Advantage West Inc.2,26705-31-2027

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$597,502
Operating expenses$141,186
Net operating income$456,316
Net cash flow$409,821
DSCR (net cash flow)2.35
DSCR (net operating income)2.62
Occupancy96%
Servicer advances outstanding$0

Savannah Industrial

PropertySavannah Industrial
Address225 and 231 Bourne Boulevard; Savannah, GA 31408
Property typeIndustrial
Units, beds or keys0
Net rentable square feet142,200
Year builtnot yet reported
Year last renovated2011
Original balance$8.5M
Current balance$8.5M (September 2026)
Share of deal balance1.2%
Interest rate at origination4.29%
Current interest rate4.29%
Origination date03-31-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$13.1M02-25-2021not yet reported
Most recent reported$13.1M2021-02-25MAI

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

Largest tenants

TenantSquare feetLease expiration
Lummus Corporation96,00012-31-2028
Forest Shipping46,20006-30-2030

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$759,696
Operating expenses$268,595
Net operating income$491,101
Net cash flow$465,000
DSCR (net cash flow)2.51
DSCR (net operating income)2.65
Occupancy100%
Servicer advances outstanding$0

Route 1 Self Storage

PropertyRoute 1 Self Storage
Address8115 Perry Hills Road; Nottingham, MD 21236
Property typeSelf storage
Units, beds or keys84200
Net rentable square feetnot yet reported
Year built2001
Year last renovatednot yet reported
Original balance$8.3M
Current balance$8.3M (September 2026)
Share of deal balance1.1%
Interest rate at origination3.33%
Current interest rate3.33%
Origination date03-09-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$14.9M01-06-2021not yet reported
Most recent reported$14.9M2021-01-06MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$767,110
Operating expenses$324,557
Net operating income$442,554
Net cash flow$436,229
DSCR (net cash flow)3.13
DSCR (net operating income)3.17
Occupancy87%
Servicer advances outstanding$0

486 East 28th Street

Property486 East 28th Street
Address486 East 28th Street; Brooklyn, NY 11226
Property typeMultifamily
Units, beds or keys22
Net rentable square feetnot yet reported
Year built2020
Year last renovatednot yet reported
Original balance$8.2M
Current balance$8.2M (September 2026)
Share of deal balance1.1%
Interest rate at origination4.03%
Current interest rate4.03%
Origination date03-19-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$12.7M03-01-2021not yet reported
Most recent reported$12.7M2021-03-01MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$668,873
Operating expenses$116,808
Net operating income$552,065
Net cash flow$546,565
DSCR (net cash flow)1.63
DSCR (net operating income)1.65
Occupancy100%
Servicer advances outstanding$0

43630 Hayes Road (and 4 more properties)

Property43630 Hayes Road (and 4 more properties)
Address43630 Hayes Road; 15950 East 12 Mile Road; 43740 North Groesbeck Highway; 30117 Schoenherr Road; 30300 Hoover Road; Clinton Township, MI (and 4 more) 48038
Property typeOffice
Units, beds or keys["0", "0", "0", "0", "0"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovated2017
Original balance$9.0M
Current balance$8.1M (September 2026)
Share of deal balance1.1%
Interest rate at origination3.88%
Current interest rate3.88%
Origination date03-09-2021
Original term120 months
Amortization term360 months
Interest-only periodnot yet reported
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI", "MAI", "MAI", "MAI"]

Largest tenants

TenantSquare feetLease expiration
Macomb/St. Clair Workforcenot yet reported["06-30-2036", "06-30-2035", "09-30-2027", "02-28-2031", "05-31-2037"]
Henry Ford Health Systemnot yet reported["09-30-2026", "01-31-2030", "12-31-2099"]
State of Michigannot yet reported06-30-2026

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

Latest financials

Financial period end (latest)["12-31-2025", "12-31-2021", "12-31-2021", "12-31-2021", "12-31-2021"]
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Menifee Ranch Self Storage & RV

PropertyMenifee Ranch Self Storage & RV
Address30125 State Highway 74; Menifee, CA 92585
Property typeSelf storage
Units, beds or keys166666
Net rentable square feetnot yet reported
Year built2006
Year last renovatednot yet reported
Original balance$7.5M
Current balance$7.5M (September 2026)
Share of deal balance1.0%
Interest rate at origination3.27%
Current interest rate3.27%
Origination date03-02-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$16.4M01-10-2021not yet reported
Most recent reported$16.4M2021-01-10MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.4M
Operating expenses$450,519
Net operating income$949,192
Net cash flow$932,525
DSCR (net cash flow)3.75
DSCR (net operating income)3.82
Occupancy84%
Servicer advances outstanding$0

Riverwood Research Center

PropertyRiverwood Research Center
Address24461 W 10 Mile Rd; Southfield, MI 48033
Property typeOffice
Units, beds or keys0
Net rentable square feet68,142
Year built1987
Year last renovated2017
Original balance$7.9M
Current balance$7.2M (September 2026)
Share of deal balance1.0%
Interest rate at origination3.91%
Current interest rate3.91%
Origination date03-04-2021
Original term120 months
Amortization term360 months
Interest-only period12 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$10.6M02-05-2021not yet reported
Most recent reported$10.6M2021-02-05MAI

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

Largest tenants

TenantSquare feetLease expiration
Pace Southeast Michigan31,94308-31-2031
DRIV Automotive17,49503-31-2029
Allegra Print & Imaging7,51009-30-2035

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$726,536
Operating expenses$255,186
Net operating income$471,350
Net cash flow$430,503
DSCR (net cash flow)1.93
DSCR (net operating income)2.11
Occupancy100%
Servicer advances outstanding$0

Dollar Self Storage #10

PropertyDollar Self Storage #10
Address2901 S Winchester Rd; Apache Junction, AZ 85119
Property typeSelf storage
Units, beds or keys91180
Net rentable square feetnot yet reported
Year built2008
Year last renovatednot yet reported
Original balance$7.2M
Current balance$6.9M (September 2026)
Share of deal balance0.9%
Interest rate at origination3.78%
Current interest rate3.78%
Origination date03-02-2021
Original term120 months
Amortization term360 months
Interest-only period36 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$12.7M01-25-2021not yet reported
Most recent reported$12.7M2021-01-25MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$706,326
Operating expenses$302,697
Net operating income$403,628
Net cash flow$399,069
DSCR (net cash flow)1.97
DSCR (net operating income)2.00
Occupancy92%
Servicer advances outstanding$0

Marshall Avenue Industrial Park

PropertyMarshall Avenue Industrial Park
Address1830-1934 Marshall Avenue; El Cajon, CA 92020
Property typeIndustrial
Units, beds or keys0
Net rentable square feet65,731
Year built2019
Year last renovatednot yet reported
Original balance$6.8M
Current balance$6.8M (September 2026)
Share of deal balance0.9%
Interest rate at origination3.99%
Current interest rate3.99%
Origination date04-14-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorBarclays
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$11.4M03-10-2021not yet reported
Most recent reported$11.4M2021-03-10MAI

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

Largest tenants

TenantSquare feetLease expiration
Goodman Distribution25,35708-31-2027
Turfworx4,20005-31-2029
Yousif4,20006-30-2029

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$652,376
Operating expenses$259,131
Net operating income$393,245
Net cash flow$353,627
DSCR (net cash flow)2.58
DSCR (net operating income)2.87
Occupancy100%
Servicer advances outstanding$0

Montgomery Self Storage

PropertyMontgomery Self Storage
Address19678 Highway 105 West; Montgomery, TX 77356
Property typeSelf storage
Units, beds or keys92826
Net rentable square feetnot yet reported
Year built1994
Year last renovatednot yet reported
Original balance$6.7M
Current balance$6.7M (September 2026)
Share of deal balance0.9%
Interest rate at origination3.79%
Current interest rate3.79%
Origination date03-11-2021
Original term120 months
Amortization term360 months
Interest-only period60 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$10.3M02-22-2021not yet reported
Most recent reported$10.3M2021-02-22MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$1.0M
Operating expenses$418,655
Net operating income$630,360
Net cash flow$621,077
DSCR (net cash flow)2.41
DSCR (net operating income)2.45
Occupancy91%
Servicer advances outstanding$0

Store Safe Baton Rouge

PropertyStore Safe Baton Rouge
Address9242 Baringer Foreman Road; Baton Rouge, LA 70817
Property typeSelf storage
Units, beds or keys110325
Net rentable square feetnot yet reported
Year built2007
Year last renovatednot yet reported
Original balance$6.6M
Current balance$6.6M (September 2026)
Share of deal balance0.9%
Interest rate at origination4.00%
Current interest rate4.00%
Origination date04-02-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$10.0M01-25-2021not yet reported
Most recent reported$10.0M2021-01-25MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.1M
Operating expenses$464,817
Net operating income$667,395
Net cash flow$650,846
DSCR (net cash flow)2.43
DSCR (net operating income)2.49
Occupancy95%
Servicer advances outstanding$0

StorWise Kingsbury (and 1 more properties)

PropertyStorWise Kingsbury (and 1 more properties)
Address272 Kingsbury Grade; 2000 Jewell Road; Stateline, NV (and 1 more) 89449
Property typeSelf storage
Units, beds or keys["26660", "22005"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovated["2020", "2019"]
Original balance$7.0M
Current balance$6.2M (September 2026)
Share of deal balance0.9%
Interest rate at origination4.00%
Current interest rate4.00%
Origination date02-25-2021
Original term120 months
Amortization term360 months
Interest-only periodnot yet reported
Scheduled maturity2031-03-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI"]

Latest financials

Financial period end (latest)["06-30-2026", "06-30-2026"]
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Desert's Edge RV Park

PropertyDesert's Edge RV Park
Address2398 West Williams Drive; Phoenix, AZ 85027
Property typeManufactured housing
Units, beds or keys223
Net rentable square feetnot yet reported
Year built1969
Year last renovatednot yet reported
Original balance$6.0M
Current balance$6.0M (September 2026)
Share of deal balance0.8%
Interest rate at origination3.72%
Current interest rate3.72%
Origination date03-30-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$15.6M02-17-2021not yet reported
Most recent reported$15.6M2021-02-17MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$2.1M
Operating expenses$818,961
Net operating income$1.3M
Net cash flow$1.3M
DSCR (net cash flow)5.74
DSCR (net operating income)5.79
Occupancy91%
Servicer advances outstanding$0

Friar's Branch Crossing

PropertyFriar's Branch Crossing
Address2204- 2226 Encompass Drive; Chattanooga, TN 37421
Property typeIndustrial
Units, beds or keys0
Net rentable square feet99,878
Year built1988
Year last renovated2006
Original balance$5.9M
Current balance$5.8M (July 2025)
Share of deal balancenot yet reported
Interest rate at origination3.68%
Current interest rate3.68%
Origination date04-08-2021
Original term120 months
Amortization term360 months
Interest-only period36 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$8.9M03-02-2021not yet reported
Most recent reported$8.9M2021-03-02MAI

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

Largest tenants

TenantSquare feetLease expiration
Volkswagen46,19801-31-2027
Astec Industries Inc12,00612-31-2025
Anthony Wayne Breazeale5,79311-30-2029

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

Latest financials

Financial period end (latest)12-31-2024
Revenue$1.3M
Operating expenses$482,567
Net operating income$816,913
Net cash flow$726,147
DSCR (net cash flow)2.57
DSCR (net operating income)2.89
Occupancy94%
Servicer advances outstanding$0

A&S Property

PropertyA&S Property
Address70 Prospect Park Southwest; Brooklyn, NY 11215
Property typeMultifamily
Units, beds or keys48
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$5.4M
Current balance$5.4M (September 2026)
Share of deal balance0.7%
Interest rate at origination3.86%
Current interest rate3.86%
Origination date04-06-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$8.6M11-19-2020not yet reported
Most recent reported$8.6M2020-11-19MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$584,445
Operating expenses$369,320
Net operating income$215,125
Net cash flow$206,773
DSCR (net cash flow)1.96
DSCR (net operating income)2.04
Occupancy100%
Servicer advances outstanding$0

Lantern Building

PropertyLantern Building
Address4245 Kemp Boulevard; Wichita Falls, TX 76308
Property typeOffice
Units, beds or keys0
Net rentable square feet125,418
Year built1981
Year last renovatednot yet reported
Original balance$5.5M
Current balance$5.3M (September 2026)
Share of deal balance0.7%
Interest rate at origination4.48%
Current interest rate4.48%
Origination date03-12-2021
Original term120 months
Amortization term360 months
Interest-only period36 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$8.2M12-03-2020not yet reported
Most recent reported$8.2M2020-12-03MAI

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

Largest tenants

TenantSquare feetLease expiration
Merrill Lynch9,37406-30-2029
JP Morgan Chase Bank7,85204-30-2030
Lake Creek Operating6,79807-31-2027

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.9M
Operating expenses$948,183
Net operating income$906,686
Net cash flow$799,654
DSCR (net cash flow)2.40
DSCR (net operating income)2.72
Occupancy91%
Servicer advances outstanding$0

CVS Fort Wayne (and 1 more properties)

PropertyCVS Fort Wayne (and 1 more properties)
Address3918 South Calhoun Street; 27435 Ford Road; Fort Wayne, IN (and 1 more) 46807
Property typeRetail
Units, beds or keys["0", "0"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovated["2019", "2016"]
Original balance$5.3M
Current balance$5.3M (September 2026)
Share of deal balance0.7%
Interest rate at origination4.77%
Current interest rate4.77%
Origination date03-19-2021
Original term120 months
Amortization term360 months
Interest-only period60 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI"]

Largest tenants

TenantSquare feetLease expiration
CVS PHARMACYnot yet reported["02-01-2041", "02-01-2041"]

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

Latest financials

Financial period end (latest)06-30-2026
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0

Hollywood 95 Office Center

PropertyHollywood 95 Office Center
Address2700-2750 North 29th Avenue; Hollywood, FL 33020
Property typeOffice
Units, beds or keys0
Net rentable square feet38,548
Year built1978
Year last renovatednot yet reported
Original balance$5.0M
Current balance$5.0M (September 2026)
Share of deal balance0.7%
Interest rate at origination3.69%
Current interest rate3.69%
Origination date03-25-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$11.0M02-19-2021not yet reported
Most recent reported$11.0M2021-02-19MAI

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

Largest tenants

TenantSquare feetLease expiration
Professional Co-Op Services2,30506-30-2028
CMBE Developers LLC1,71612-31-2028
Jay Dees Inc.1,63706-30-2026

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$671,860
Operating expenses$303,675
Net operating income$368,186
Net cash flow$343,367
DSCR (net cash flow)3.68
DSCR (net operating income)3.95
Occupancy86%
Servicer advances outstanding$0

McCarthy Ranch

PropertyMcCarthy Ranch
Address15-251 Ranch Drive; Milpitas, CA 95035
Property typeRetail
Units, beds or keys0
Net rentable square feet265,994
Year built1994
Year last renovatednot yet reported
Original balance$5.0M
Current balance$5.0M (September 2026)
Share of deal balance0.7%
Interest rate at origination3.69%
Current interest rate3.69%
Origination date01-24-2020
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2030-02-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$74.4M12-04-2019not yet reported
Most recent reported$74.4M2019-12-04MAI

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

Largest tenants

TenantSquare feetLease expiration
Best Buy51,23101-31-2030
Big A Drugstore46,00004-30-2034
Ross Stores Inc27,00001-31-2030

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$6.4M
Operating expenses$2.0M
Net operating income$4.4M
Net cash flow$4.2M
DSCR (net cash flow)2.47
DSCR (net operating income)2.62
Occupancy88%
Servicer advances outstanding$0

Whitehall Apartments

PropertyWhitehall Apartments
Address80-50 Baxter Ave; Elmhurst, NY 11373
Property typeMultifamily
Units, beds or keys66
Net rentable square feetnot yet reported
Year built1955
Year last renovatednot yet reported
Original balance$5.0M
Current balance$5.0M (September 2026)
Share of deal balance0.7%
Interest rate at origination3.86%
Current interest rate3.86%
Origination date04-06-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$8.5M11-16-2020not yet reported
Most recent reported$8.5M2020-11-16MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$631,229
Operating expenses$429,423
Net operating income$201,807
Net cash flow$185,274
DSCR (net cash flow)1.91
DSCR (net operating income)2.08
Occupancy100%
Servicer advances outstanding$0

Baychester Shopping Center

PropertyBaychester Shopping Center
Address1197 East 233rd Street; Bronx, NY 10466
Property typeRetail
Units, beds or keys0
Net rentable square feet32,647
Year built1958
Year last renovatednot yet reported
Original balance$4.8M
Current balance$4.8M (September 2026)
Share of deal balance0.6%
Interest rate at origination3.69%
Current interest rate3.69%
Origination date03-30-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorAREF
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$18.2M02-09-2021not yet reported
Most recent reported$18.2M2021-02-09MAI

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

Largest tenants

TenantSquare feetLease expiration
East 233rd Food Corp15,27112-31-2031
Stuff And Cards LLC3,00012-31-2027
BSW NY LLC2,24812-31-2032

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$1.5M
Operating expenses$584,030
Net operating income$912,248
Net cash flow$889,068
DSCR (net cash flow)5.00
DSCR (net operating income)5.13
Occupancy96%
Servicer advances outstanding$0

Inverness Dental & Medical Plaza

PropertyInverness Dental & Medical Plaza
Address202 Inverness Center Dr; Hoover, AL 35242
Property typeOffice
Units, beds or keys0
Net rentable square feet20,019
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$4.7M
Current balance$4.6M (September 2026)
Share of deal balance0.6%
Interest rate at origination4.00%
Current interest rate4.00%
Origination date03-16-2021
Original term120 months
Amortization term360 months
Interest-only period60 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$7.2M02-04-2021not yet reported
Most recent reported$7.2M2021-02-04MAI

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

Largest tenants

TenantSquare feetLease expiration
Stoncreek Dental8,91802-28-2031
Smile Doctors7,22002-28-2031
Stoncreek Dental3,88102-28-2031

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$750,172
Operating expenses$224,619
Net operating income$525,553
Net cash flow$480,364
DSCR (net cash flow)2.38
DSCR (net operating income)2.60
Occupancy100%
Servicer advances outstanding$0

CubeSmart- Winston Salem

PropertyCubeSmart- Winston Salem
Address345 Witt St; Winston-Salem, NC 27103
Property typeSelf storage
Units, beds or keys62837
Net rentable square feetnot yet reported
Year built1955
Year last renovatednot yet reported
Original balance$4.1M
Current balance$4.1M (September 2026)
Share of deal balance0.6%
Interest rate at origination4.08%
Current interest rate4.08%
Origination date04-01-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$10.2M12-17-2020not yet reported
Most recent reported$10.2M2020-12-17MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$1.0M
Operating expenses$381,453
Net operating income$664,877
Net cash flow$657,965
DSCR (net cash flow)3.86
DSCR (net operating income)3.90
Occupancy91%
Servicer advances outstanding$0

1101 California Avenue

Property1101 California Avenue
Address1101 California Avenue; Corona, CA 92881
Property typeOffice
Units, beds or keys0
Net rentable square feet39,293
Year built1990
Year last renovatednot yet reported
Original balance$4.0M
Current balance$4.0M (September 2026)
Share of deal balance0.5%
Interest rate at origination3.97%
Current interest rate3.97%
Origination date04-05-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$7.2M03-01-2021not yet reported
Most recent reported$7.2M2021-03-01MAI

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

Largest tenants

TenantSquare feetLease expiration
Corona Exec. Ste. Common Area4,25612-31-2099
Autism Spectrum Consultants2,23109-30-2026
Nord Gear Corporation2,02604-30-2028

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$517,523
Operating expenses$283,121
Net operating income$234,402
Net cash flow$209,950
DSCR (net cash flow)2.62
DSCR (net operating income)2.92
Occupancy96%
Servicer advances outstanding$0

E&B Realty

PropertyE&B Realty
Address361 95th St; Brooklyn, NY 11209
Property typeMultifamily
Units, beds or keys39
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$4.0M
Current balance$4.0M (September 2026)
Share of deal balance0.5%
Interest rate at origination3.86%
Current interest rate3.86%
Origination date04-06-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$7.1M11-19-2020not yet reported
Most recent reported$7.1M2020-11-19MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$419,717
Operating expenses$312,288
Net operating income$107,429
Net cash flow$101,131
DSCR (net cash flow)1.30
DSCR (net operating income)1.38
Occupancy100%
Servicer advances outstanding$0

2015-2021 W Race Street

Property2015-2021 W Race Street
Address2015-2021 W Race Street; Chicago, IL 60612
Property typeMultifamily
Units, beds or keys8
Net rentable square feetnot yet reported
Year built1897
Year last renovated2020
Original balance$4.1M
Current balance$3.9M (September 2026)
Share of deal balance0.5%
Interest rate at origination4.32%
Current interest rate4.32%
Origination date03-31-2021
Original term120 months
Amortization term360 months
Interest-only period24 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$5.7M02-26-2021not yet reported
Most recent reported$5.7M2021-02-26MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$397,100
Operating expenses$90,678
Net operating income$306,422
Net cash flow$304,422
DSCR (net cash flow)1.24
DSCR (net operating income)1.25
Occupancy88%
Servicer advances outstanding$0

Cedar Lofts Apartments

PropertyCedar Lofts Apartments
Address121 West Fairmount Avenue; State College, PA 16801
Property typeMultifamily
Units, beds or keys58
Net rentable square feetnot yet reported
Year built1989
Year last renovatednot yet reported
Original balance$3.9M
Current balance$3.9M (September 2026)
Share of deal balance0.5%
Interest rate at origination4.49%
Current interest rate4.49%
Origination date03-03-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-03-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorAREF
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$7.5M01-20-2021not yet reported
Most recent reported$7.5M2021-01-20MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$369,414
Operating expenses$188,421
Net operating income$180,993
Net cash flow$175,193
DSCR (net cash flow)2.01
DSCR (net operating income)2.07
Occupancy100%
Servicer advances outstanding$0

Comfort Inn & Suites Southport

PropertyComfort Inn & Suites Southport
Address4963 Southport-Supply Rd SE; Southport, NC 28461
Property typeLodging
Units, beds or keys70
Net rentable square feetnot yet reported
Year built2002
Year last renovated2017
Original balance$4.1M
Current balance$3.6M (September 2026)
Share of deal balance0.5%
Interest rate at origination4.39%
Current interest rate4.39%
Origination date07-17-2019
Original term120 months
Amortization term360 months
Interest-only periodnot yet reported
Scheduled maturity2029-08-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$7.6M05-30-2019not yet reported
Most recent reported$7.6M2019-05-30MAI

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

Latest financials

Financial period end (latest)03-31-2026
Revenue$1.9M
Operating expenses$1.5M
Net operating income$458,584
Net cash flow$381,387
DSCR (net cash flow)1.55
DSCR (net operating income)1.86
Occupancy68%
Servicer advances outstanding$0

Anchor Baker Storage

PropertyAnchor Baker Storage
Address21312 14th Street; Baker City, OR 97814
Property typeSelf storage
Units, beds or keys85040
Net rentable square feetnot yet reported
Year built1999
Year last renovatednot yet reported
Original balance$3.6M
Current balance$3.5M (September 2026)
Share of deal balance0.5%
Interest rate at origination4.45%
Current interest rate4.45%
Origination date03-29-2021
Original term120 months
Amortization term360 months
Interest-only period36 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$5.0M03-04-2021not yet reported
Most recent reported$5.0M2021-03-04MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$280,347
Operating expenses$104,452
Net operating income$175,894
Net cash flow$171,642
DSCR (net cash flow)1.56
DSCR (net operating income)1.60
Occupancy94%
Servicer advances outstanding$0

571 Hudson Coop

Property571 Hudson Coop
Address571 Hudson Street; New York, NY 10014
Property typeMultifamily
Units, beds or keys15
Net rentable square feetnot yet reported
Year built1892
Year last renovated1978
Original balance$3.5M
Current balance$3.5M (September 2026)
Share of deal balance0.5%
Interest rate at origination3.42%
Current interest rate3.42%
Origination date03-31-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorMSBNA
Current statusMatured balloon, non-performing
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$36.3M02-05-2021not yet reported
Most recent reported$36.3M2021-02-05MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$867,203
Operating expenses$647,188
Net operating income$220,015
Net cash flow$216,265
DSCR (net cash flow)1.78
DSCR (net operating income)1.81
Occupancy100%
Servicer advances outstanding$10,292

1425 Bruckner Fee

Property1425 Bruckner Fee
Address1425 Bruckner Boulevard; Bronx, NY 10472
Property typeOther (code 98)
Units, beds or keys0
Net rentable square feet42,200
Year built2010
Year last renovatednot yet reported
Original balance$3.5M
Current balance$3.5M (September 2026)
Share of deal balance0.5%
Interest rate at origination4.14%
Current interest rate4.14%
Origination date03-23-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$6.1M03-01-2021not yet reported
Most recent reported$6.1M2021-03-01MAI

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

Largest tenants

TenantSquare feetLease expiration
Cube Smart L.P.42,20008-31-2059

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$228,675
Operating expenses$28,716
Net operating income$199,958
Net cash flow$199,958
DSCR (net cash flow)1.36
DSCR (net operating income)1.36
Occupancy100%
Servicer advances outstanding$0

Grand Avenue Storage

PropertyGrand Avenue Storage
Address33033 Riverside Drive; Lake Elsinore, CA 92530
Property typeSelf storage
Units, beds or keys30980
Net rentable square feetnot yet reported
Year built1999
Year last renovatednot yet reported
Original balance$3.1M
Current balance$3.1M (September 2026)
Share of deal balance0.4%
Interest rate at origination3.81%
Current interest rate3.81%
Origination date03-30-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-04-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$5.3M02-25-2021not yet reported
Most recent reported$5.3M2021-02-25MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$565,282
Operating expenses$291,787
Net operating income$273,495
Net cash flow$270,397
DSCR (net cash flow)2.26
DSCR (net operating income)2.28
Occupancy93%
Servicer advances outstanding$0

Anchor Mini Storage

PropertyAnchor Mini Storage
Address920 Southeast 5th Avenue; Ontario, OR 97914
Property typeSelf storage
Units, beds or keys75350
Net rentable square feetnot yet reported
Year built2011
Year last renovatednot yet reported
Original balance$3.0M
Current balance$2.8M (September 2026)
Share of deal balance0.4%
Interest rate at origination4.45%
Current interest rate4.45%
Origination date03-29-2021
Original term120 months
Amortization term360 months
Interest-only period24 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$4.2M03-04-2021not yet reported
Most recent reported$4.2M2021-03-04MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$504,853
Operating expenses$166,146
Net operating income$338,707
Net cash flow$331,172
DSCR (net cash flow)1.83
DSCR (net operating income)1.87
Occupancy90%
Servicer advances outstanding$0

Netana Realty

PropertyNetana Realty
Address864 60th St; Brooklyn, NY 11220
Property typeMultifamily
Units, beds or keys31
Net rentable square feetnot yet reported
Year built1928
Year last renovatednot yet reported
Original balance$2.6M
Current balance$2.6M (September 2026)
Share of deal balance0.4%
Interest rate at origination3.86%
Current interest rate3.86%
Origination date04-06-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$4.2M11-19-2020not yet reported
Most recent reported$4.2M2020-11-19MAI

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

Latest financials

Financial period end (latest)06-30-2026
Revenue$308,337
Operating expenses$220,367
Net operating income$87,970
Net cash flow$82,963
DSCR (net cash flow)1.60
DSCR (net operating income)1.70
Occupancy100%
Servicer advances outstanding$0

Windy Acres MHC

PropertyWindy Acres MHC
Address195 West Main Street; Chester, NJ 07930
Property typeManufactured housing
Units, beds or keys51
Net rentable square feetnot yet reported
Year built1970
Year last renovated2018
Original balance$2.5M
Current balance$2.5M (September 2026)
Share of deal balance0.3%
Interest rate at origination3.59%
Current interest rate3.59%
Origination date04-08-2021
Original term120 months
Amortization termnot yet reported
Interest-only period120 months
Scheduled maturity2031-05-01
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorKeyBank
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
At securitization$5.1M03-11-2021not yet reported
Most recent reported$5.1M2021-03-11MAI

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

Latest financials

Financial period end (latest)12-31-2025
Revenue$532,414
Operating expenses$233,768
Net operating income$298,646
Net cash flow$296,096
DSCR (net cash flow)3.25
DSCR (net operating income)3.28
Occupancy98%
Servicer advances outstanding$0

Dalewood 1 (and 1 more properties)

PropertyDalewood 1 (and 1 more properties)
Address1000 Maple Hills Park; 5232 Walnut Valley Drive; Cross Lanes, WV (and 1 more) 25313
Property typeManufactured housing
Units, beds or keys["86", "49"]
Net rentable square feetnot yet reported
Year builtnot yet reported
Year last renovatednot yet reported
Original balance$2.1M
Current balance$2.0M (September 2026)
Share of deal balance0.3%
Interest rate at origination4.56%
Current interest rate4.56%
Origination date03-26-2021
Original term120 months
Amortization term360 months
Interest-only period24 months
Scheduled maturity2031-04-06
Prepayment lockout endnot yet reported
Yield maintenance endnot yet reported
ServicerKeyBank Real Estate Capital
Loan servicernot yet reported
OriginatorSMC
Current statusnot yet reported
Specially serviced nowNo
DefeasedNo

Valuation

BasisAmountDateSource (as filed)
Most recent reportednot yet reportednot yet reported["MAI", "MAI"]

Latest financials

Financial period end (latest)06-30-2026
Revenuenot yet reported
Operating expensesnot yet reported
Net operating incomenot yet reported
Net cash flownot yet reported
DSCR (net cash flow)not yet reported
DSCR (net operating income)not yet reported
Occupancynot yet reported
Servicer advances outstanding$0