CMBS Commentary CMBS Remit Roundup through September 16th, 2026

CMBS Commentary CMBS Remit Roundup: through September 16th, 2026

17 September 2026 Key takeaways Securitized Products Strategy • New remits on the latest release include what we consider notable changes for 3 United States conduit loans and 22 SASB loans Alan Todd, CFA • For September MTD, 219 loans from 74 conduit deals and 76 SASB deals reported CMBS Strategist BofAS what we consider notable changes Nick O'Brien Summary CMBS Strategist BofAS Remits as of the latest release include what we consider notable changes for 25 loans (3 conduit, 22 SASB). Including prior loans from previously reported September remittance

reports, we see notable month-to-date changes for 219 loans across 74 conduit and 76 SASB deals. An Excel file containing all impacted loans across the conduit and SASB Please refer to Exhibit 1 and Exhibit market segments this month can be found here. 2 for a list of commonly used The largest conduit loans with notable changes include: acronyms.

25 Broadway - COMM 2014-CR16 25 Broadway - COMM 2014-CR16 - Office - $112.8 mm: The servicer reported a new delinquency status of "non-performing matured balloon". The prior status was "performing matured balloon". Per the servicer commentary, the borrower is now inside of their final, structured, six-month extension option, that became effective on July 8, 2026. The borrower continues to perform in accordance with the terms of their Forbearance Agreement. As of 1Q 2026, the asset was ~ 84.8% occupied. Last BOV received is from March-2026. An updated appraisal was engaged, in accordance with PSA, and the appraisal report is forthcoming.

Providence Place Mall - DBUBS 2011-LC3A Providence Place Mall - DBUBS 2011-LC3A - Retail - $101.2 mm: The servicer reported that the loan was liquidated. Liquidation proceeds totaled $124.3mm. Providence Place Mall contained rake bonds, where the PM2, PM3, PM4, PM5 classes received a loss severity of 100%. PM1 and the G class received partial recoveries. No comment from the servicer.

135 South LaSalle - CGCMT 2015-GC31 135 South LaSalle - CGCMT 2015-GC31 - Office - $100.0 mm: The servicer reported a most recent appraisal value of $34.0mm, a -24% reduction from the prior appraised value of $44.5mm. No new notable servicer commentary.

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The largest SASB loans with notable changes include:

SMRT 2022-MINI - SMRT 2022-MINI SMRT 2022-MINI - SMRT 2022-MINI - Self Storage - $2.1 bn: The servicer reported a new occupancy of 86.0% as of June 2026, vs 88.0% as of December 2025. No new notable servicer commentary.

Great Wolf Portfolio 2 - GWT 2024-WLF2 Great Wolf Portfolio 2 - GWT 2024-WLF2 - Hotel - $1.3 bn: The servicer reported a new occupancy of 82.0% as of December 2025, vs 90.0% as of November 2025. No new notable servicer commentary.

3 Bryant Park - NYC 2025-3BP 3 Bryant Park - NYC 2025-3BP - Office - $1.1 bn: The servicer reported a new occupancy of 99.0% as of June 2026, vs 95.0% as of March 2026. Per the servicer commentary, as of YTD6 2026, the NCF DSCR is 1.44x.

Appendix: collection methodology Starting July 2022, remittance records published in this report will adhere to the following thresholds:

(i) For changes in Net Cash Flow (NCF) or Net Operating Income (NOI):

a. Total absolute change in NCF or NOI must exceed or equal 10% the previously reported NCF or NOI respectively

(ii) For loan modifications or delinquency status changes:

a. Servicer (master or special) must include details with respect to any loan flagged as delinquent or in REO. This is intended to eliminate loans erroneously reported as such

(iii) For changes in property appraisal value:

a. Servicer (master or special) must submit a new appraisal value and date in…