BBCMS 2025-5C36 CMBS closes with $516M public certificates, 31 mortgage loans

BBCMS Mortgage Trust 2025-5C36

Issued 31 commercial/multifamily mortgage loans pooled into BBCMS Mortgage Trust 2025-5C36.
Public certificates principal amount $516,080,000; total net proceeds ~$526.2M (net of $4.1M expenses).
Retaining sponsor BCRE satisfied risk retention via $31.5M horizontal residual interest (~5.07% of fair value).
Classes include A-1 through L-RR; private certificates sold under Section 4(a)(2) exemption.
Underwriters include Barclays, SG Americas, UBS, Citigroup, Deutsche Bank, Academy, Drexel.

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