UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K

 (Mark One)

 x ANNUAL REPORT PURSUANT TO SECTION
13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

or

 o TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from _____ to _____

Commission file number of the issuing entity: 333-257737-01

 Central Index Key Number of the issuing entity:
0001891818

 BBCMS Mortgage Trust 2021-C12

 (exact name of the issuing entity as specified in its
charter)

 Central Index Key Number of the depositor: 0001541480

 Barclays Commercial Mortgage
Securities LLC

 (exact name of the depositor as specified in its
charter)

 Central Index Key Number of the sponsor: 0001549574

 Barclays Capital Real Estate Inc.

 Central Index Key Number of the sponsor: 0001089877

 KeyBank National Association

 Central Index Key Number of the sponsor: 0000927971

 Bank of Montreal

 Central Index Key Number of the sponsor: 0001755531

 Societe Generale Financial
Corporation

 Central Index Key Number of the sponsor: 0001548405

 Starwood Mortgage Capital LLC

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-4205605

 38-4205606

 38-7274847

 (I.R.S. Employer

 Identification Numbers)

c/o Computershare Trust Company, National Association

 as Certificate Administrator

 9062 Old Annapolis Road

 Columbia, MD

 (Address of principal
executive offices of the issuing entity)

 21045

 (Zip Code)

 Registrant's telephone number,
including area code:

 (212) 412-4000

 Securities registered pursuant to Section 12(b) of the Act:

 Title of each class

 Trading Symbol(s)

 Name of each exchange on which registered

 None

 Securities registered pursuant to Section 12(g) of the
Act: None.

 Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities Act. o Yes
No

 Indicate by check mark if the registrant is not required to
file reports pursuant to Section 13 or Section 15(d) of the Act. o Yes
No

 Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes o No

 Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted pursuant to
Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was
required to submit such files).

 Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, a smaller
reporting company, or an emerging growth company. See the definitions of "large
accelerated filer," "accelerated filer," "smaller reporting company," and
"emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated
filer o
Accelerated
filer
o

 Non-accelerated
filer

Smaller reporting
company
o

Emerging growth
company
o

 If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. o

 Indicate by check mark whether the registrant has filed a
report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the
Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm
that prepared or issued its audit report. o

 If securities are registered pursuant to Section 12(b) of the
Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued
financial statements. o

 Indicate by check mark whether any of those error corrections
are restatements that required a recovery analysis of incentive-based
compensation received by any of the registrant's executive officers during the
relevant recovery period pursuant to §240.10D-1(b). o

 Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Act). o Yes No

 State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at
which the common equity was last sold, or the average bid and asked price of
such common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter.

 Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13 or 15(d) of the
Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court. o
Yes o
No

 Indicate the number of shares outstanding of each of the
registrant's classes of common stock, as of the latest practicable date.

 DOCUMENTS INCORPORATED BY REFERENCE

 List hereunder the following documents if incorporated by
reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into
which the document is incorporated: (1) Any annual report to security holders;
(2) Any proxy or information statement; and (3) Any prospectus filed pursuant
to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents
should be clearly described for identification purposes (e.g., annual report to
security holders for fiscal year ended December 24, 1980).

EXPLANATORY NOTES

 The AMF Portfolio Mortgage Loan, the Helios
Plaza Mortgage Loan, the 1100 & 820 First Street NE Mortgage Loan and the
Hamilton Commons Mortgage Loan, which constituted approximately 7.8%, 7.3%,
6.0% and 2.0%, respectively, of the asset pool of the issuing entity as of its
cut-off date, are each an asset of the issuing entity and are each part of a
loan combination that includes (a) with respect to the AMF Portfolio Mortgage
Loan, seven other pari passu loans, which are not assets of the issuing
entity, (b) with respect to the Helios Plaza Mortgage Loan, two other pari
passu loans, which are not assets of the issuing entity, (c) with respect
to the 1100 & 820 First Street NE Mortgage Loan, six other pari passu
loans, which are not assets of the issuing entity and (d) with respect to the
Hamilton Commons Mortgage Loan, one other pari passu loan, which is not
an asset of the issuing entity. These loan combinations, including the AMF
Portfolio Mortgage Loan, the Helios Plaza Mortgage Loan, the 1100 & 820
First Street NE Mortgage Loan and the Hamilton Commons Mortgage Loan, are being
serviced and administered pursuant to the Pooling and Servicing Agreement,
which is incorporated by reference as Exhibit 4.1 to this Annual Report on Form
10-K.

 The Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the HQ @ First Mortgage Loan, which constituted
approximately 3.9% of the asset pool of the issuing entity as of its cut-off
date. The HQ @ First Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the HQ @ First Mortgage Loan, four
other pari passu loans and two subordinate companion loans, which are
not assets of the issuing entity. A pari passu portion of the loan
combination was securitized in the KREST Commercial Mortgage Securities Trust
2021-CHIP transaction (the " KREST 2021-CHIP Transaction "). This loan
combination, including the HQ @ First Mortgage Loan, is being serviced and
administered pursuant to the trust and servicing agreement for the KREST
2021-CHIP Transaction, which is incorporated by reference as Exhibit 4.2 to
this Annual Report on Form 10-K.

 The Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the 356-362 E 148th Street Mortgage Loan, which
constituted approximately 1.3% of the asset pool of the issuing entity as of
its cut-off date. The 356-362 E 148th Street Mortgage Loan is an asset of
the issuing entity and is part of a loan combination that includes the 356-362
E 148th Street Mortgage Loan and one other pari passu loan, which is not
an asset of the issuing entity. The other pari passu portion of the loan
combination was securitized in the BBCMS Mortgage Trust 2021-C11 transaction,
Commission File Number 333-226850-10 (the " BBCMS 2021-C11 Transaction ").
This loan combination, including the 356-362 E 148th Street Mortgage Loan, is
being serviced and administered pursuant to the pooling and servicing agreement
for the BBCMS 2021-C11 Transaction, which is incorporated by reference as
Exhibit 4.3 to this Annual Report on Form 10-K.

 The Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the Superstition Gateway Mortgage Loan, which
constituted approximately 2.8% of the asset pool of the issuing entity as of
its cut-off date. The Superstition Gateway Mortgage Loan is an asset of
the issuing entity and is part of a loan combination that includes the
Superstition Gateway Mortgage Loan and two other pari passu loans, which
are not assets of the issuing entity. A pari passu portion of the loan
combination was securitized in the Morgan Stanley Capital I Trust 2021-L7 transaction,
Commission File Number 333-227446-17 (the " MSC 2021-L7 Transaction ").
This loan combination, including the Superstition Gateway Mortgage Loan, is
being serviced and administered pursuant to the pooling and servicing agreement
for the MSC 2021-L7 Transaction, which is incorporated by reference as Exhibit
4.4 to this Annual Report on Form 10-K.

 The master servicer of a pooling
and servicing agreement or trust and servicing agreement also functions as the
primary servicer of the related mortgage loans serviced and administered
pursuant to such agreement unless a separate primary servicer is identified
herein. If this report does not identify a separate primary servicer, the
servicer compliance statement provided by the master servicer under any such
agreement also encompasses its responsibilities as primary servicer of the
related mortgage loan or mortgage loans.

 KeyBank National Association is
the master servicer of the mortgage loans serviced under the Pooling and
Servicing Agreement and the primary servicer and special servicer of the HQ @
First Mortgage Loan and the Superstition Gateway Mortgage Loan. As a result,
KeyBank National Association is a "servicer" as defined in Item 1108(a)(2)(iii)
of Regulation AB, in the capacities described above, because it is servicing
mortgage loans that constituted 10% or more of the assets of the issuing entity
as of its cut-off date. The assessments of compliance with applicable servicing
criteria, accountants' attestation reports and servicer compliance statements
delivered by KeyBank National Association in the capacities described above are
listed in the Exhibit Index.

 Pentalpha Surveillance LLC is the
operating advisor of the mortgage loans serviced under the Pooling and
Servicing Agreement, the HQ @ First Mortgage Loan and the Superstition Gateway
Mortgage Loan. As a result, Pentalpha Surveillance LLC is a servicing
function participant in the capacities described above, because it is servicing
mortgage loans that constituted 5% or more of the assets of the issuing entity
as of its cut-off date. The assessments of compliance with applicable servicing
criteria and accountants' attestation reports delivered by Pentalpha
Surveillance LLC in the capacities described above are listed in the Exhibit
Index.

 Wells Fargo Bank, National
Association is the primary servicer of the 356-362 E 148th Street Mortgage
Loan, which when combined with its other capacities described in the succeeding
paragraph, means that Wells Fargo Bank, National Association is a servicing
function participant with respect to 5% or more of the assets of the issuing
entity as of its cut-off date. The assessment of compliance with applicable
servicing criteria and accountants' attestation report delivered by Wells Fargo
Bank, National Association in such capacity is listed in the Exhibit Index.

 Wells Fargo Bank, National
Association is the custodian of the HQ @ First Mortgage Loan, the Superstition
Gateway Mortgage Loan and the 356-362 E 148th Street Mortgage Loan. As a
result, Wells Fargo Bank, National Association is a servicing function
participant in the capacities described above, because it is servicing mortgage
loans that constituted 5% or more of the assets of the issuing entity as of its
cut-off date. The assessments of compliance with applicable servicing criteria
and accountants' attestation reports delivered by Wells Fargo Bank, National
Association in the capacities described above are listed in the Exhibit Index.

 Wilmington Trust, National
Association acts as trustee of the mortgage loans serviced under the Pooling
and Servicing Agreement and the 356-362 E 148th Street Mortgage Loan.
Pursuant to the Pooling and Servicing Agreement and the pooling and servicing
agreement for the BBCMS 2021-C11 Transaction, the trustee is required to
provide an assessment of compliance with applicable servicing criteria solely
with respect to Item 1122(d)(2)(iii) of Regulation AB (regarding advances of
funds or guarantees regarding collections, cash flows or distributions, and any
interest or other fees charged for such advances, are made, reviewed and
approved as specified in the transaction agreements). However, during the
reporting period, the trustee did not perform any servicing function with
respect to the servicing criteria specified in Item 1122(d)(2)(iii) of
Regulation AB. The master servicer or the special servicer, to the extent
required, performed the servicing function identified with respect to Item
1122(d)(2)(iii) of Regulation AB, and each such party included Item
1122(d)(2)(iii) of Regulation AB in the assessment of compliance with
applicable servicing criteria and accountant's attestation report for the
subject transaction. As a result, this Annual Report on Form 10-K does
not include an assessment of compliance with applicable servicing criteria of
the trustee. One or more other servicers of the mortgage loans serviced under
the Pooling and Servicing Agreement and the 356-362 E 148th Street Mortgage
Loan have delivered one or more assessments of compliance with respect to Item
1122(d)(2)(iii) of Regulation AB.

 Wells Fargo Bank, National
Association acts as trustee of the HQ @ First Mortgage Loan and the
Superstition Gateway Mortgage Loan. Pursuant to the trust and servicing
agreement for the KREST 2021-CHIP Transaction and the pooling and servicing
agreement for the MSC 2021-L7 Transaction, the trustee is required to provide
an assessment of compliance with applicable servicing criteria solely with
respect to Item 1122(d)(2)(iii) of Regulation AB (regarding advances of funds
or guarantees regarding collections, cash flows or distributions, and any
interest or other fees charged for such advances, are made, reviewed and
approved as specified in the transaction agreements). However, during the
reporting period, the trustee did not perform any servicing function with
respect to the servicing criteria specified in Item 1122(d)(2)(iii) of
Regulation AB. The master servicer or the special servicer, to the extent
required, performed the servicing function identified with respect to Item
1122(d)(2)(iii) of Regulation AB, and each such party included Item
1122(d)(2)(iii) of Regulation AB in the assessment of compliance with
applicable servicing criteria and accountant's attestation report for the
subject transaction. As a result, this Annual Report on Form 10-K does
not include an assessment of compliance with applicable servicing criteria of
the trustee. One or more other servicers of the HQ @ First Mortgage Loan and
the Superstition Gateway Mortgage Loan have delivered one or more assessments
of compliance with respect to Item 1122(d)(2)(iii) of Regulation AB.

 This Annual Report on Form 10-K
includes assessments of compliance with applicable servicing criteria and
accountants' attestation reports from CoreLogic Solutions, LLC. This
entity was engaged by the primary servicer of the 356-362 E 148th Street Mortgage
Loan to remit tax payments received from the escrow accounts of borrowers to
local taxing authorities, to report tax amounts due, to verify tax parcel
information, and to verify non-escrow tax payments. These servicing functions
are included within the servicing criteria set forth in Item 1122(d)(4)(xi) of
Regulation AB. Therefore, under the principles-based definition of
"servicer" set forth in Item 1101(j) of Regulation AB that looks to the
functions that an entity performs, this vendor is a "servicer" for the purposes
of Item 1122 of Regulation AB. See Compliance and Disclosure
Interpretations, Section 301.01 (Item 1101(j)).

 This Annual Report on Form 10-K
includes an assessment of compliance with applicable servicing criteria,
accountants' attestation report and servicer compliance statement from
Computershare Trust Company, National Association (" CTCNA "). CTCNA
was engaged by Wells Fargo Bank, National Association (" Wells Fargo "),
in its capacity as certificate administrator and custodian, to perform certain
specified servicing functions identified in the assessment of compliance with
applicable servicing criteria and accountants' attestation reports. Wells
Fargo engaged CTCNA in connection with the sale of Wells Fargo's corporate
trust services business to CTCNA and its affiliates. Further, under the
principles-based definition of "servicer" set forth in Item 1101(j) of
Regulation AB that looks to the functions that an entity performs, this party
is a "servicer" for the purposes of Item 1123 of Regulation AB. See
Compliance and Disclosure Interpretations, Section 301.01 (Item 1101(j)).

 The
assessments of compliance with applicable servicing criteria, accountants'
attestation reports and servicer compliance statements of the certificate
administrator of the HQ @ First Mortgage Loan, the 356-362 E 148th Street
Mortgage Loan and the Superstition Gateway Mortgage Loan are omitted from this
Annual Report on Form 10-K as the certificate administrator pursuant to the
related pooling and servicing agreement or trust and servicing agreement does
not perform any activities that address servicing criteria with respect to the
issuing entity and because they are each not a "servicer" that meets the
criteria in Item 1108(a)(2)(i) through (iii) of Regulation AB.

 With respect to the pari passu
loan combinations that include the HQ @ First Mortgage Loan, the 356-362 E
148th Street Mortgage Loan and the Superstition Gateway Mortgage Loan, (i) the
reports on assessment of compliance with servicing criteria and attestation
reports on assessment of compliance with servicing criteria of SCP Servicing,
LLC as special servicer of the 356-362 E 148th Street Mortgage Loan and Park
Bridge Lender Services LLC as operating advisor of the 356-362 E 148th Street
Mortgage Loan, listed on the Exhibit Index are omitted from this Annual Report
on Form 10-K as they are not required to be included on this Annual Report on
Form 10-K per Instruction 3 to Item 1122 of Regulation AB because they are
parties performing activities that address servicing criteria relating to 5% or
less of the assets of the issuing entity; and (ii) the servicer compliance
statements of Wells Fargo Bank, National Association as primary servicer of the
356-362 E 148th Street Mortgage Loan and SCP Servicing, LLC as special servicer
of the 356-362 E 148th Street Mortgage Loan, listed on the Exhibit Index are
omitted from this Annual Report on Form 10-K as they are not required by Item
1123 of Regulation AB to be included on this Annual Report on Form 10-K because
they are each an unaffiliated party that is not a "servicer" that meets the
criteria in Item 1108(a)(2)(i) through (iii) of Regulation AB.

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

 None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

 Item 5. Market for Registrant's Common Equity,
Related Stockholder Matters and Issuer Purchases of Equity Securities.

 Item 6.

 [Reserved].

 Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations.

 Item 7A. Quantitative and Qualitative Disclosures
About Market Risk.

 Item 8. Financial Statements and Supplementary Data.

 Item 9. Changes in and Disagreements With
Accountants on Accounting and Financial Disclosure.

 Item 9A. Controls and Procedures.

 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign Jurisdictions
that Prevent Inspections.

 None.

 Item 10. Directors, Executive Officers and Corporate
Governance.

 Item 11. Executive Compensation.

 Item 12. Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters.

 Item 13. Certain Relationships and Related
Transactions, and Director Independence.

 Item 14. Principal Accountant Fees and Services.

 ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

 Item 1112(b) of Regulation AB, Significant Obligor
Financial Information.

 No single obligor represents 10% or more of the pool assets
held by the issuing entity.

 Item 1114(b)(2) of Regulation AB, Significant Enhancement
Provider Financial Information.

 No entity or group of affiliated entities provides any external credit
enhancement or other support for the certificates within this transaction as
described under Item 1114(a) of Regulation AB.

 Item 1115(b) of Regulation AB, Certain Derivatives
Instruments (Financial Information).

 No entity or group of affiliated entities provides any
derivative instruments or other support for the certificates within this
transaction as described under Item 1115 of Regulation AB.

 Item 1117 of Regulation AB, Legal Proceedings.

 The registrant knows of no material
pending legal proceeding involving the trust or any party related to the trust,
other than routine litigation incidental to the duties of those respective
parties, and the following, with respect to Wells
Fargo Bank, National Association, as Trustee, Certificate Administrator,
and Custodian.

 In
December 2014, Phoenix Light SF Limited (Phoenix Light) and certain related
entities filed a complaint in the United States District Court for the Southern
District of New York alleging claims against Wells Fargo Bank, N.A., in its
capacity as trustee for a number of residential mortgage-backed securities
(RMBS) trusts. Complaints raising similar allegations have been filed by
Commerzbank AG in the Southern District of New York, IKB International and IKB
Deutsche Industriebank (together, IKB) in New York state court, and Park Royal
I LLC and Park Royal II LLC in New York state court. In each case, the
plaintiffs allege that Wells Fargo Bank, N.A., as trustee, caused losses to
investors, and plaintiffs assert causes of action based upon, among other things,
the trustee's alleged failure to notify and enforce repurchase obligations of
mortgage loan sellers for purported breaches of representations and warranties,
notify investors of alleged events of default, and abide by appropriate
standards of care following alleged events of default. In July 2022, the
district court dismissed Phoenix Light's claims and certain of the claims
asserted by Commerzbank AG, and subsequently entered judgment in each case in
favor of Wells Fargo Bank, N.A. In August 2022, Phoenix Light and Commerzbank
AG each appealed the district court's decision to the United States Court of
Appeals for the Second Circuit. Phoenix Light dismissed its appeal in May 2023,
terminating its case. In October 2024, the Second Circuit denied Commerzbank
AG's appeal. In November 2023, Wells Fargo Bank, N.A. entered into an agreement
with IKB to resolve IKB's claims. Wells Fargo Bank, N.A. previously settled two
class actions filed by institutional investors and an action filed by the
National Credit Union Administration with similar allegations.

 Item 1119 of Regulation AB, Affiliations and Certain
Relationships and Related Transactions.

 The information regarding this Item has been previously
provided in the prospectus of the Registrant relating to the issuing entity
filed on November 30, 2021 pursuant to Rule 424(b)(2).

 Item 1122 of Regulation AB, Compliance with Applicable
Servicing Criteria.

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the mortgage loans are attached
hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA
to the Pooling and Servicing Agreement incorporated by reference as Exhibit 4.1
to this Annual Report on Form 10-K is a chart identifying the entities
participating in a servicing function for the transaction responsible for each
applicable servicing criteria set forth in Item 1122(d).

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the HQ @ First Mortgage Loan, which
is being serviced and administered pursuant to the trust and servicing
agreement for the KREST 2021-CHIP Transaction, are attached hereto under Item
15 to this Annual Report on Form 10-K. Attached as Exhibit L to the trust and
servicing agreement for the KREST 2021-CHIP Transaction incorporated by
reference as Exhibit 4.2 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the KREST
2021-CHIP Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the 356-362 E 148th Street Mortgage
Loan, which is being serviced and administered pursuant to the pooling and
servicing agreement for the BBCMS 2021-C11 Transaction, are attached hereto
under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the
pooling and servicing agreement for the BBCMS 2021-C11 Transaction incorporated
by reference as Exhibit 4.3 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the BBCMS
2021-C11 Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the Superstition Gateway Mortgage
Loan, which is being serviced and administered pursuant to the pooling and
servicing agreement for the MSC 2021-L7 Transaction, are attached hereto under
Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the
pooling and servicing agreement for the MSC 2021-L7 Transaction incorporated by
reference as Exhibit 4.4 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the MSC
2021-L7 Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

 Item 1123 of Regulation AB, Servicer Compliance Statement.

 The servicer compliance statements are attached as Exhibits
to this Annual Report on Form 10-K.

 Item 15. Exhibits and Financial Statement Schedules.

 (a) The following is a list of documents filed as part of
this Annual Report on Form 10-K:

 (1) Not applicable

 (2) Not applicable

 (3) See below

 4.1
 Pooling
and Servicing Agreement, dated as of November 1, 2021, between Barclays
Commercial Mortgage Securities LLC, as Depositor, KeyBank National Association,
as Master Servicer, LNR Partners, LLC, as Special Servicer, Computershare Trust
Company, National Association, as Certificate Administrator, Wilmington Trust,
National Association, as Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and as Asset Representations Reviewer (filed as Exhibit 4.1 to the
registrant's Current Report on Form 8-K/A filed on December 17, 2021 under

 4.2
 Trust
and Servicing Agreement, dated as of August 24, 2021, between J.P. Morgan Chase
Commercial Mortgage Securities Corp., as Depositor, KeyBank National
Association, as Servicer and as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator and as Trustee, and Pentalpha
Surveillance LLC, as Operating Advisor (filed as Exhibit 4.2 to the
registrant's Current Report on Form 8-K filed on November 30, 2021 under

 4.3
 Pooling
and Servicing Agreement, dated as of September 1, 2021, among Barclays
Commercial Mortgage Securities LLC, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, SCP Servicing, LLC, as Special Servicer, Wells
Fargo Bank, National Association, as Certificate Administrator, Wilmington
Trust, National Association, as Trustee, and Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer (filed as Exhibit
4.4 to the registrant's Current Report on Form 8-K filed on November 30, 2021
under Commission File No. 333-257737-01 and incorporated by reference herein).

 4.4
 Pooling
and Servicing Agreement, dated as of October 1, 2021, between Morgan Stanley
Capital I Inc., as Depositor, KeyBank National Association, as Master Servicer
and Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and Trustee, and Pentalpha Surveillance LLC, as Operating Advisor
and Asset Representations Reviewer (filed as Exhibit 4.1 to the registrant's
Current Report on Form 8-K/A filed on February 23, 2022 under Commission File
No. 333-257737-01 and incorporated by reference herein).

 4.5
 Co-Lender
Agreement, dated as of October 29, 2021, by and between Bank of Montreal, as
Initial Note A-1 Holder, Bank of Montreal, as Initial Note A-2 Holder, Bank of
Montreal, as Initial Note A-4 Holder, Bank of Montreal, as Initial Note A-6
Holder, Bank of Montreal, as Initial Note A-8 Holder, and Bank of Montreal, as
Initial Note A-10 Holder, and Starwood Mortgage Capital LLC, as Initial Note
A-3 Holder, Starwood Mortgage Capital LLC, as Initial Note A-5 Holder, Starwood
Mortgage Capital LLC, as Initial Note A-7 Holder, and Starwood Mortgage Capital LLC,
as Initial Note A-9 Holder (filed as Exhibit 4.5 to the registrant's Current
Report on Form 8-K filed on November 30, 2021 under Commission File No.
333-257737-01 and incorporated by reference herein).

 4.6
 Co-Lender
Agreement, dated as of October 12, 2021, by and between Bank of Montreal, as
Initial Note A-1 Holder, Bank of Montreal, as Initial Note A-2 Holder, Bank of
Montreal, as Initial Note A-3 Holder, and Bank of Montreal, as Initial Note A-4
Holder, and Barclays Capital Real Estate Inc., as Initial Note A-5 Holder
(filed as Exhibit 4.6 to the registrant's Current Report on Form 8-K filed on
November 30, 2021 under Commission File No. 333-257737-01 and incorporated by
reference herein).

 4.7
 Agreement
Between Note Holders, dated as of September 30, 2021, by and between Barclays
Bank PLC, as Initial Note A-1 Holder, Barclays Bank PLC, as Initial Note A-2
Holder, Barclays Bank PLC, as Initial Note A-3 Holder, Citi Real Estate Funding
Inc., as Initial Note A-4 Holder, Citi Real Estate Funding Inc., as Initial
Note A-5 Holder, Barclays Bank PLC, as Initial Note A-6 Holder, and Barclays
Bank PLC, as Initial Note A-7 Holder (filed as Exhibit 4.7 to the registrant's
Current Report on Form 8-K filed on November 30, 2021 under Commission File No.
333-257737-01 and incorporated by reference herein).

 4.8
 Co-Lender
Agreement, dated as of August 24, 2021, by and between JPMorgan Chase Bank,
National Association, as Initial Note A-1-S Holder, Initial Note A-1-C1 Holder,
Initial Note A-1-C2 Holder and Initial Note B-1-S Holder, and Barclays Capital
Real Estate Inc., as Initial Note A-2-S Holder, Initial Note A-2-C1 Holder,
Initial Note A-2-C2 Holder and Initial Note B-2-S Holder (filed as Exhibit 4.8
to the registrant's Current Report on Form 8-K filed on November 30, 2021 under

 4.9
 Agreement
Between Noteholders, dated as of September 16, 2021, by and among KeyBank
National Association, as Initial Note A-1 Holder, KeyBank National Association,
as Initial Note A-2 Holder, KeyBank National Association, as Initial Note A-3
Holder, and KeyBank National Association, as Initial Note A-4 Holder (filed as
Exhibit 4.9 to the registrant's Current Report on Form 8-K filed on November
30, 2021 under Commission File No. 333-257737-01 and incorporated by reference
herein).

 4.10
 Agreement
Between Note Holders, dated as of November 30, 2021, by and among Societe
Generale Financial Corporation, as Initial Note A-1 Holder, and Societe
Generale Financial Corporation, as Initial Note A-2 Holder (filed as Exhibit
4.10 to the registrant's Current Report on Form 8-K filed on November 30, 2021
under Commission File No. 333-257737-01 and incorporated by reference herein).

 4.11
 Agreement
Between Note Holders, dated as of September 10, 2021, by and between Barclays
Capital Real Estate Inc., as Initial Note A-1 Holder, and Barclays Capital Real
Estate Inc., as Initial Note A-2 Holder (filed as Exhibit 4.11 to the
registrant's Current Report on Form 8-K filed on November 30, 2021 under

 Rule 13a-14(d)/15d-14(d) Certifications.

Reports on assessment of compliance with servicing criteria for asset-backed
securities.

 33.1
 KeyBank National Association, as Master Servicer

 33.2
 LNR Partners, LLC, as Special Servicer

 33.3
Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory
Notes.)

 33.4
as Certificate Administrator

 33.5
as Custodian

 33.6
 Pentalpha Surveillance LLC, as Operating Advisor

 33.7
of the AMF Portfolio Mortgage Loan (see Exhibit 33.1)

 33.8
 LNR Partners, LLC, as Special Servicer of the AMF
Portfolio Mortgage Loan (see Exhibit 33.2)

 33.9
Wilmington Trust, National Association, as Trustee of the AMF Portfolio

 33.10
as Custodian of the AMF Portfolio Mortgage Loan (see Exhibit 33.5)

 33.11
the AMF Portfolio Mortgage Loan (see Exhibit 33.6)

 33.12
of the Helios Plaza Mortgage Loan (see Exhibit 33.1)

 33.13
Helios Plaza Mortgage Loan (see Exhibit 33.2)

 33.14
Wilmington Trust, National Association, as Trustee of the Helios Plaza Mortgage

 33.15
as Custodian of the Helios Plaza Mortgage Loan (see Exhibit 33.5)

 33.16
the Helios Plaza Mortgage Loan (see Exhibit 33.6)

 33.17
of the 1100 & 820 First Street NE Mortgage Loan (see Exhibit 33.1)

 33.18
 LNR Partners, LLC, as Special Servicer of the 1100
& 820 First Street NE Mortgage Loan (see Exhibit 33.2)

 33.19
Wilmington Trust, National Association, as Trustee of the 1100 & 820 First
Street NE Mortgage Loan (Omitted. See Explanatory Notes.)

 33.20
as Custodian of the 1100 & 820 First Street NE Mortgage Loan (see Exhibit
33.5)

 33.21
the 1100 & 820 First Street NE Mortgage Loan (see Exhibit 33.6)

 33.22
of the Hamilton Commons Mortgage Loan (see Exhibit 33.1)

 33.23
Hamilton Commons Mortgage Loan (see Exhibit 33.2)

 33.24
Wilmington Trust, National Association, as Trustee of the Hamilton Commons

 33.25
as Custodian of the Hamilton Commons Mortgage Loan (see Exhibit 33.5)

 33.26
the Hamilton Commons Mortgage Loan (see Exhibit 33.6)

 33.27
of the HQ @ First Mortgage Loan (see Exhibit 33.1)

 33.28
of the HQ @ First Mortgage Loan (see Exhibit 33.1)

 33.29
Wells Fargo Bank, National Association, as Trustee of the HQ @ First Mortgage

 33.30
Custodian of the HQ @ First Mortgage Loan

 33.31
the HQ @ First Mortgage Loan (see Exhibit 33.6)

 33.32
as Servicing Function Participant for the Custodian of the HQ @ First Mortgage
Loan (see Exhibit 33.5)

 33.33
 Wells Fargo Bank, National Association, as Primary
Servicer of the 356-362 E 148th Street Mortgage Loan

 33.34
SCP Servicing, LLC, as Special Servicer of the 356-362 E 148th Street Mortgage

 33.35
Wilmington Trust, National Association, as Trustee of the 356-362 E 148th
Street Mortgage Loan (Omitted. See Explanatory Notes.)

 33.36
Custodian of the 356-362 E 148th Street Mortgage Loan (see Exhibit 33.30)

 33.37
Park Bridge Lender Services LLC, as Operating Advisor of the 356-362 E 148th
Street Mortgage Loan (Omitted. See Explanatory Notes.)

 33.38
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the 356-362 E 148th Street Mortgage Loan

 33.39
as Servicing Function Participant for the Custodian of the 356-362 E 148th
Street Mortgage Loan (see Exhibit 33.5)

 33.40
of the Superstition Gateway Mortgage Loan (see Exhibit 33.1)

 33.41
of the Superstition Gateway Mortgage Loan (see Exhibit 33.1)

 33.42
Wells Fargo Bank, National Association, as Trustee of the Superstition Gateway

 33.43
Custodian of the Superstition Gateway Mortgage Loan (see Exhibit 33.30)

 33.44
the Superstition Gateway Mortgage Loan (see Exhibit 33.6)

 33.45
as Servicing Function Participant for the Custodian of the Superstition Gateway
Mortgage Loan (see Exhibit 33.5)

 Attestation
reports on assessment of compliance with servicing criteria for asset-backed
securities.

 34.1
 KeyBank National Association, as Master Servicer

 34.2
 LNR Partners, LLC, as Special Servicer

 34.3
Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory
Notes.)

 34.4
as Certificate Administrator

 34.5
as Custodian

 34.6
 Pentalpha Surveillance LLC, as Operating Advisor

 34.7
of the AMF Portfolio Mortgage Loan (see Exhibit 34.1)

 34.8
 LNR Partners, LLC, as Special Servicer of the AMF
Portfolio Mortgage Loan (see Exhibit 34.2)

 34.9
Wilmington Trust, National Association, as Trustee of the AMF Portfolio

 34.10
as Custodian of the AMF Portfolio Mortgage Loan (see Exhibit 34.5)

 34.11
the AMF Portfolio Mortgage Loan (see Exhibit 34.6)

 34.12
of the Helios Plaza Mortgage Loan (see Exhibit 34.1)

 34.13
Helios Plaza Mortgage Loan (see Exhibit 34.2)

 34.14
Wilmington Trust, National Association, as Trustee of the Helios Plaza Mortgage

 34.15
as Custodian of the Helios Plaza Mortgage Loan (see Exhibit 34.5)

 34.16
the Helios Plaza Mortgage Loan (see Exhibit 34.6)

 34.17
of the 1100 & 820 First Street NE Mortgage Loan (see Exhibit 34.1)

 34.18
 LNR Partners, LLC, as Special Servicer of the 1100
& 820 First Street NE Mortgage Loan (see Exhibit 34.2)

 34.19
Wilmington Trust, National Association, as Trustee of the 1100 & 820 First
Street NE Mortgage Loan (Omitted. See Explanatory Notes.)

 34.20
as Custodian of the 1100 & 820 First Street NE Mortgage Loan (see Exhibit
34.5)

 34.21
the 1100 & 820 First Street NE Mortgage Loan (see Exhibit 34.6)

 34.22
of the Hamilton Commons Mortgage Loan (see Exhibit 34.1)

 34.23
Hamilton Commons Mortgage Loan (see Exhibit 34.2)

 34.24
Wilmington Trust, National Association, as Trustee of the Hamilton Commons

 34.25
as Custodian of the Hamilton Commons Mortgage Loan (see Exhibit 34.5)

 34.26
the Hamilton Commons Mortgage Loan (see Exhibit 34.6)

 34.27
of the HQ @ First Mortgage Loan (see Exhibit 34.1)

 34.28
of the HQ @ First Mortgage Loan (see Exhibit 34.1)

 34.29
Wells Fargo Bank, National Association, as Trustee of the HQ @ First Mortgage

 34.30
Custodian of the HQ @ First Mortgage Loan

 34.31
the HQ @ First Mortgage Loan (see Exhibit 34.6)

 34.32
as Servicing Function Participant for the Custodian of the HQ @ First Mortgage
Loan (see Exhibit 34.5)

 34.33
 Wells Fargo Bank, National Association, as Primary
Servicer of the 356-362 E 148th Street Mortgage Loan

 34.34
SCP Servicing, LLC, as Special Servicer of the 356-362 E 148th Street Mortgage

 34.35
Wilmington Trust, National Association, as Trustee of the 356-362 E 148th
Street Mortgage Loan (Omitted. See Explanatory Notes.)

 34.36
Custodian of the 356-362 E 148th Street Mortgage Loan (see Exhibit 34.30)

 34.37
Park Bridge Lender Services LLC, as Operating Advisor of the 356-362 E 148th
Street Mortgage Loan (Omitted. See Explanatory Notes.)

 34.38
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the 356-362 E 148th Street Mortgage Loan

 34.39
as Servicing Function Participant for the Custodian of the 356-362 E 148th
Street Mortgage Loan (see Exhibit 34.5)

 34.40
of the Superstition Gateway Mortgage Loan (see Exhibit 34.1)

 34.41
of the Superstition Gateway Mortgage Loan (see Exhibit 34.1)

 34.42
Wells Fargo Bank, National Association, as Trustee of the Superstition Gateway

 34.43
Custodian of the Superstition Gateway Mortgage Loan (see Exhibit 34.30)

 34.44
the Superstition Gateway Mortgage Loan (see Exhibit 34.6)

 34.45
as Servicing Function Participant for the Custodian of the Superstition Gateway
Mortgage Loan (see Exhibit 34.5)

Servicer compliance statements.

 35.1
 KeyBank National Association, as Master Servicer

 35.2
 LNR Partners, LLC, as Special Servicer

 35.3
as Certificate Administrator

 35.4
of the AMF Portfolio Mortgage Loan (see Exhibit 35.1)

 35.5
 LNR Partners, LLC, as Special Servicer of the AMF
Portfolio Mortgage Loan (see Exhibit 35.2)

 35.6
of the Helios Plaza Mortgage Loan (see Exhibit 35.1)

 35.7
Helios Plaza Mortgage Loan (see Exhibit 35.2)

 35.8
of the 1100 & 820 First Street NE Mortgage Loan (see Exhibit 35.1)

 35.9
 LNR Partners, LLC, as Special Servicer of the 1100
& 820 First Street NE Mortgage Loan (see Exhibit 35.2)

 35.10
of the Hamilton Commons Mortgage Loan (see Exhibit 35.1)

 35.11
Hamilton Commons Mortgage Loan (see Exhibit 35.2)

 35.12
of the HQ @ First Mortgage Loan (see Exhibit 35.1)

 35.13
of the HQ @ First Mortgage Loan (see Exhibit 35.1)

 35.14
Wells Fargo Bank, National Association, as Primary Servicer of the 356-362 E
148th Street Mortgage Loan (Omitted. See Explanatory Notes.)

 35.15
SCP Servicing, LLC, as Special Servicer of the 356-362 E 148th Street Mortgage

 35.16
of the Superstition Gateway Mortgage Loan (see Exhibit 35.1)

 35.17
of the Superstition Gateway Mortgage Loan (see Exhibit 35.1)

 99.1
Loan Purchase Agreement, dated as of November 30, 2021, among Barclays Capital
Real Estate Inc., Barclays Capital Holdings Inc. and Barclays Commercial
Mortgage Securities LLC (filed as Exhibit 99.1 to the registrant's Current
Report on Form 8-K filed on November 30, 2021 under Commission File No.
333-257737-01 and incorporated by reference herein).

 99.2
Loan Purchase Agreement, dated as of November 30, 2021, between KeyBank
National Association and Barclays Commercial Mortgage Securities LLC (filed as
Exhibit 99.5 to the registrant's Current Report on Form 8-K filed on November
30, 2021 under Commission File No. 333-257737-01 and incorporated by reference
herein).

 99.3
Loan Purchase Agreement, dated as of November 30, 2021, between Bank of
Montreal and Barclays Commercial Mortgage Securities LLC (filed as Exhibit 99.4
to the registrant's Current Report on Form 8-K filed on November 30, 2021 under

 99.4
Loan Purchase Agreement, dated as of November 30, 2021, among Societe Generale
Financial Corporation, Soci t G n rale and Barclays Commercial Mortgage
Securities LLC (filed as Exhibit 99.2 to the registrant's Current Report on
Form 8-K filed on November 30, 2021 under Commission File No. 333-257737-01 and
incorporated by reference herein).

 99.5
Loan Purchase Agreement, dated as of November 30, 2021, between Starwood
Mortgage Capital LLC and Barclays Commercial Mortgage Securities LLC (filed as
Exhibit 99.3 to the registrant's Current Report on Form 8-K filed on November
30, 2021 under Commission File No. 333-257737-01 and incorporated by reference
herein).

 (b) The exhibits required to be filed by the
Registrant pursuant to Item 601 of Regulation S-K are listed above.

 (c) Not Applicable.

 SIGNATURES

 Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.

 Barclays Commercial Mortgage
Securities LLC

(Depositor)

 /s/ Daniel Schmidt

 Daniel
Schmidt, Chief Executive Officer

 (senior officer in charge of
securitization of the depositor)

 Date: March 12, 2025