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, 2023

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: 333-190246-05

 Central Index Key Number of the issuing entity:
0001607484

 J.P. Morgan Chase Commercial
Mortgage Securities Trust 2014-C20

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

 Central Index Key Number of the depositor: 0001013611

 J.P. Morgan Chase Commercial
Mortgage Securities Corp.

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

 Central Index Key Number of the sponsor: 0000835271

 JPMorgan Chase Bank, National
Association

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

 Central Index Key Number of the sponsor: 0001567746

 Redwood Commercial Mortgage
Corporation

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

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-3932140

 38-3932141

 38-7111617

 (I.R.S. Employer

 Identification Numbers)

c/o Computershare Trust Company, National Association, as agent for

 Wells Fargo Bank, 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) 834-5467

 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 Technology Corners Building
Six Mortgage Loan and the 200 West Monroe Mortgage Loan, which constituted
approximately 6.8% and 5.7%, 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 the Technology Corners Building Six
Mortgage Loan or the 200 West Monroe Mortgage Loan and one other pari passu
loan, each of which is not an asset of the issuing entity. These loan combinations, including the Technology Corners
Building Six Mortgage Loan and the 200 West Monroe 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 Outlets at Orange Mortgage Loan and the Gumberg
Retail Portfolio Mortgage Loan, which constituted approximately 10.3% and 6.5%,
respectively, of the asset pool of the issuing entity as of its cut-off
date. The Outlets at Orange Mortgage Loan and the Gumberg Retail
Portfolio Mortgage Loan are each an asset of the issuing entity and are each
part of a loan combination that includes (a) with respect to The Outlets at
Orange Mortgage Loan, one other pari passu loan, which is not an asset
of the issuing entity or (b) with respect to the Gumberg Retail Portfolio
Mortgage Loan, one other pari passu loan and one subordinate companion
loan, which are not assets of the issuing entity. The other pari passu portion
of each loan combination was securitized in the JPMBB Commercial Mortgage
Securities Trust 2014-C19 transaction, Commission File Number 333-190246-04
(the " JPMBB 2014-C19 Transaction "). These loan combinations, including
The Outlets at Orange Mortgage Loan and the Gumberg Retail Portfolio Mortgage
Loan, are being serviced and administered pursuant to the pooling and servicing
agreement for the JPMBB 2014-C19 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 Westminster Mall Mortgage Loan, which
constituted approximately 3.4% of the asset pool of the issuing entity as of
its cut-off date. The Westminster Mall Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the Westminster
Mall Mortgage Loan and one other pari passu loan, which is not an asset
of the issuing entity. This loan combination, including the Westminster Mall
Mortgage Loan, was serviced under the Pooling and Servicing Agreement for the
issuing entity prior to the closing of the securitization of the other pari
passu portion of the Westminster Mall loan combination in the JPMBB
Commercial Mortgage Securities Trust 2014-C21 transaction, Commission File
Number 333-190246-06 (the " JPMBB 2014-C21 Transaction "). After the
closing of the JPMBB 2014-C21 Transaction on July 22, 2014, this loan
combination, including the Westminster Mall Mortgage Loan was, and will
continue to be, serviced and administered pursuant to the pooling and servicing
agreement with respect to the JPMBB 2014-C21 Transaction, which is incorporated
by reference as Exhibit 4.3 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.

 Wells Fargo Bank, National
Association is the master servicer and certificate administrator of the
mortgage loans serviced under the Pooling and Servicing Agreement and the
primary servicer of the Westminster Mall Mortgage Loan. As a result, Wells
Fargo Bank, 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 Wells Fargo Bank, National Association in
the capacities described above are listed in the Exhibit Index.

 Wells Fargo Bank, National
Association is the custodian of the mortgage loans serviced under the Pooling
and Servicing Agreement, The Outlets at Orange Mortgage Loan, the Gumberg
Retail Portfolio Mortgage Loan and the Westminster Mall 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.

 Pentalpha Surveillance LLC is the
senior trust advisor of the mortgage loans serviced under the Pooling and
Servicing Agreement, The Outlets at Orange Mortgage Loan, the Gumberg Retail
Portfolio Mortgage Loan and the Westminster Mall 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.

 KeyBank National Association is
the primary servicer of The Outlets at Orange Mortgage Loan and the Gumberg
Retail Portfolio 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.

 Wells Fargo Bank, National
Association acts as trustee of the Gumberg Retail Portfolio Mortgage Loan and
The Outlets at Orange Mortgage Loan. Pursuant to the pooling and
servicing agreement for the JPMBB 2014-C19 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 Gumberg Retail Portfolio
Mortgage Loan and The Outlets at Orange Mortgage Loan have delivered one or
more assessments of compliance with respect to Item 1122(d)(2)(iii) of
Regulation AB.

 Deutsche Bank Trust Company
Americas acts as trustee of the mortgage loans serviced under the Pooling and
Servicing Agreement. Pursuant to the Pooling and Servicing Agreement, 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 have delivered one or more assessments of
compliance with respect to Item 1122(d)(2)(iii) of Regulation AB.

 Wilmington Trust, National
Association acts as trustee of the Westminster Mall Mortgage Loan.
Pursuant to the pooling and servicing agreement for the JPMBB 2014-C21
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 Westminster Mall 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 master servicer under the Pooling and Servicing
Agreement and the primary servicer of the Westminster Mall 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 Items 1122(d)(4)(xi)
and 1122(d)(4)(xii) 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 Gumberg Retail
Portfolio Mortgage Loan, The Outlets at Orange Mortgage Loan and the
Westminster Mall 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 Westminster Mall Mortgage Loan and the
Gumberg Retail Portfolio Mortgage Loan, (i) the report on assessment of
compliance with servicing criteria and attestation report on assessment of
compliance with servicing criteria of Midland Loan Services, a Division of PNC
Bank, National Association as special servicer of the Westminster Mall 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 it is a party
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 Midland Loan Services, a Division of PNC Bank, National Association as
special servicer of the Westminster Mall Mortgage Loan and CWCapital Asset
Management LLC as special servicer of the Gumberg Retail Portfolio 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.

 The Outlets at Orange Mortgage
Loan (Loan # 1 on Annex A-1 of the prospectus supplement of the registrant
relating to the issuing entity filed on June 23, 2014 pursuant to Rule
424(b)(5)) constitutes a significant obligor within the meaning of Item
1101(k)(2) of Regulation AB as disclosed in the prospectus supplement. In
accordance with Item 1112(b) of Regulation AB, the most recent unaudited net
operating income of the significant obligor was $39,758,835 for the
twelve-month period ended December 31, 2023.

 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 Deutsche Bank Trust
Company Americas, as trustee, and Wells Fargo Bank, National Association, as
trustee, certificate administrator and custodian.

 Deutsche Bank Trust Company
Americas ("DBTCA") and Deutsche Bank National Trust Company ("DBNTC") have been
sued by investors in civil litigation concerning their role as trustees of
certain residential mortgage-backed securities ("RMBS") trusts.

 On June 18, 2014, a group of
investors, including funds managed by Blackrock Advisors, LLC, PIMCO-Advisors,
L.P., and others, filed an action against DBNTC and DBTCA in New York State
Supreme Court alleging that DBNTC and DBTCA failed to perform purported duties,
as trustees for 544 private-label RMBS trusts, to enforce breaches of
representations and warranties as to mortgage loans held by the trusts and to
enforce breaches by servicers of their mortgage loan servicing obligations for
the trusts. During the course of the litigation, plaintiffs dismissed the
case from New York State Supreme Court and refiled two separate cases, one in
the U.S. District Court for the Southern District of New York (the "BlackRock
SDNY Case") and the other in the Superior Court of California, Orange County
(the "BlackRock California Case"). Pursuant to a settlement among the
parties, the BlackRock SDNY Case was dismissed on December 6, 2018, and the
BlackRock California Case was dismissed on January 11, 2019.

 On September 27, 2017, DBTCA was
added as a defendant to a case brought by certain special purpose entities
including Phoenix Light SF Limited in the U.S. District Court for the Southern
District of New York, in which the plaintiffs previously alleged incorrectly
that DBNTC served as trustee for all 43 of the trusts at issue. On
September 27, 2017, plaintiffs filed a third amended complaint that names DBTCA
as a defendant in addition to DBNTC. DBTCA serves as trustee for one of
the 43 trusts at issue. DBNTC serves as trustee for the other 42 trusts
at issue. Plaintiffs' third amended complaint brings claims for violation
of the U.S. Trust Indenture Act of 1939 ("TIA"); breach of contract; breach of
fiduciary duty; negligence and gross negligence; violation of New York's Streit
Act; and breach of the covenant of good faith. However, in the third
amended complaint, plaintiffs acknowledge that, before DBTCA was added to the
case, the court dismissed plaintiffs' TIA Act claims, negligence and gross
negligence claims, Streit Act claims, claims for breach of the covenant of good
faith, and certain theories of plaintiffs' breach of contract claims, and
plaintiffs only include these claims to preserve any rights on appeal.
Plaintiffs allege damages of "hundreds of millions of dollars." On
November 13, 2017, DBNTC and DBTCA filed an answer to the third amended
complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for
summary judgment. Also on December 7, 2018, plaintiffs, jointly with
Commerzbank AG (see description of Commerzbank case below), filed a motion for
partial summary judgment. On October 27, 2021, DBNTC and DBTCA filed a
supplemental motion for summary judgment relating to plaintiffs'
standing. On February 8, 2022, the court issued an order in which it
granted DBNTC and DBTCA's supplemental motion for summary judgment, granted in
part DBNTC and DBTCA's initial motion for summary judgment, and denied
plaintiffs' motion for partial summary judgment. As a result of that
order, all of plaintiffs' claims were dismissed with prejudice. On April 26,
2023, the United States Court of Appeals for the Second Circuit affirmed the
court's summary judgment order.

 On November 30, 2017, DBTCA was
added as a defendant to a case brought by Commerzbank AG ("Commerzbank") in the
U.S. District Court for the Southern District of New York, in which Commerzbank
previously alleged incorrectly that DBNTC served as trustee for all 50 of the
trusts at issue. On November 30, 2017, Commerzbank filed a second amended
complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA
serves as trustee for 1 of the 50 trusts at issue. DBNTC serves as
trustee for the other 49 trusts at issue. Commerzbank's second amended
complaint brings claims for violation of the TIA; breach of contract; breach of
fiduciary duty; negligence; violation of the Streit Act; and breach of the
covenant of good faith. However, in the second amended complaint,
Commerzbank acknowledges that, before DBTCA was added to the case, the court
dismissed Commerzbank's TIA claims for the trusts governed by pooling and servicing
agreements, as well as its Streit Act claims and claims for breach of the
covenant of good faith, and Commerzbank only includes these claims to preserve
any rights on appeal. The second amended complaint alleges that DBNTC and
DBTCA caused Commerzbank to suffer "hundreds of millions of dollars in losses,"
but the complaint does not include a demand for money damages in a sum
certain. On January 29, 2018, DBNTC and DBTCA filed an answer to the
second amended complaint. On December 7, 2018, DBNTC and DBTCA filed a
motion for summary judgment. Also on December 7, 2018, Commerzbank,
jointly with the Phoenix Light plaintiffs, filed a motion for partial summary
judgment. On February 8, 2022, the court issued an order in which it
granted in part DBNTC and DBTCA's motion for summary judgment and denied
plaintiffs' motion for partial summary judgment. As a result of that
order, many of plaintiffs' claims and theories were dismissed with
prejudice. Discovery is ongoing.

 On December 30, 2015, IKB
International, S.A. in Liquidation and IKB Deutsche Industriebank A.G.
(collectively, "IKB"), as an investor in 37 RMBS trusts, filed a summons with
notice in the Supreme Court of the State of New York, New York County, against
DBNTC and DBTCA as trustees of the trusts. On May 27, 2016, IKB served
its complaint asserting claims for breach of contract, breach of fiduciary
duty, breach of duty to avoid conflicts of interest, violation of the Streit
Act, violation of the TIA, violation of Regulation AB, and violation of Section
9 of the Uniform Commercial Code. IKB alleges that DBNTC and DBTCA are
liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC
and DBTCA, together with several other trustees defending lawsuits by IKB,
filed a joint motion to dismiss. On January 6, 2017 and June 20, 2017,
IKB voluntarily dismissed with prejudice all claims as to seven trusts.
On January 27, 2021, the court granted in part and denied in part DBNTC and
DBTCA's motion to dismiss. The court granted the motion to dismiss with
respect to IKB's claims for violations of the Streit Act, Regulation AB, and
Section 9 of the Uniform Commercial Code, as well as certain aspects of IKB's
claims for breach of contract, breach of fiduciary duty, and violation of the
TIA. The court denied the remainder of the motion to dismiss. IKB's
remaining claims for breach of contract, breach of fiduciary duty, breach of
duty to avoid conflicts of interest, and violation of the TIA will
proceed. On May 10, 2021, DBNTC and DBTCA filed a notice of appeal with
the New York Supreme Court Appellate Division, First Department, regarding
certain aspects of the court's order on the motion to dismiss. On May 20,
2021, IKB filed a notice of cross appeal with respect to other aspects of that
order. On August 30, 2022, the New York Supreme Court, Appellate
Division, First Department affirmed in part and reversed in part the court's
order on the motion to dismiss. After DBNTC and DBTCA appealed the First
Department's decision, on June 15, 2023, the New York Court of Appeals reversed
the First Department's decision in part, dismissing certain additional contract
claims, as well as IKB's claims for breach of fiduciary duty and breach of duty
to avoid conflicts of interest. On June 2, 2021, IKB filed a motion for
re-argument regarding certain aspects of the court's order on the motion to
dismiss, which the court denied on August 3, 2021. On May 13, 2021, DBNTC
and DBTCA filed an answer to the complaint. On October 28, 2021, the
parties filed a stipulation, voluntarily dismissing with prejudice all claims
as to seven additional trusts. On December 29, 2021, the parties filed a
stipulation, voluntarily dismissing with prejudice all claims as to one
additional trust. On April 22, 2022, the parties filed a stipulation,
voluntarily dismissing with prejudice all claims as to 17 certificates at
issue, including all claims as to 5 trusts. On February 28, 2023, the
parties filed a stipulation, voluntarily dismissing with prejudice all claims
as to two trusts, leaving 15 trusts at issue. On November 21, 2023, the
parties filed a stipulation, voluntarily dismissing with prejudice all claims
as to three trusts, leaving 12 trusts at issue. Discovery is ongoing.

 It is DBTCA's belief that it has
no pending legal proceedings (including, based on DBTCA's present evaluation,
the litigation disclosed in the foregoing paragraphs) that would materially
affect its ability to perform its duties under the related servicing agreement
for this transaction.

 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 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 a prospectus supplement of the Registrant relating to the issuing
entity filed on June 23, 2014 pursuant to Rule 424(b)(5).

 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 Outlets at Orange Mortgage Loan
and the Gumberg Retail Portfolio Mortgage Loan, which are being serviced and
administered pursuant to the pooling and servicing agreement for the JPMBB 2014-C19
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
JPMBB 2014-C19 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 JPMBB 2014-C19 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 Westminster Mall Mortgage Loan,
which is being serviced and administered pursuant to the pooling and servicing
agreement for the JPMBB 2014-C21 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 JPMBB 2014-C21 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 JPMBB
2014-C21 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. Exhibit 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 June 1,
2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer,
Torchlight Loan Services, LLC, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Deutsche Bank Trust Company
Americas, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor
(filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K filed on
June 23, 2014 under Commission File No. 333-190246-05 and incorporated by reference
herein).

 4.2
 Pooling and Servicing Agreement, dated as of May 1, 2014,
by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, KeyBank National Association, as Master Servicer, Midland Loan
Services, a Division of PNC Bank, National Association, as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator and Trustee,
and Pentalpha Surveillance LLC, as Senior Trust Advisor (filed as Exhibit 4.2
to the registrant's Current Report on Form 8-K filed on June 23, 2014 under
Commission File No. 333-190246-05 and incorporated by reference herein).

 4.3
 Pooling and Servicing Agreement, dated as of July 1,
2014, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland
Loan Services, a Division of PNC Bank, National Association, as Special
Servicer, Wells Fargo Bank, National Association, as Certificate Administrator,
Wilmington Trust, National Association, as Trustee, and Pentalpha Surveillance
LLC, as Senior Trust Advisor (filed as Exhibit 4.1 to the registrant's Current
Report on Form 8-K filed on July 22, 2014 under Commission File No.
333-190246-05 and incorporated by reference herein).

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

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

 33.1
 Wells Fargo Bank, National Association, as Master
Servicer

 33.2

 33.3
Deutsche Bank Trust Company Americas, as Trustee (Omitted. See Explanatory

 33.4
Certificate Administrator

 33.5
Custodian

 33.6

 33.7
Participant

 33.8
as Servicing Function Participant for the Certificate Administrator

 33.9
as Servicing Function Participant for the Custodian

 33.10
Servicer of the Technology Corners Building Six Mortgage Loan (see Exhibit
33.1)

 33.11
of the Technology Corners Building Six Mortgage Loan (see Exhibit 33.2)

 33.12
Deutsche Bank Trust Company Americas, as Trustee of the Technology Corners
Building Six Mortgage Loan (Omitted. See Explanatory Notes.)

 33.13
Custodian of the Technology Corners Building Six Mortgage Loan (see Exhibit
33.5)

 33.14
of the Technology Corners Building Six Mortgage Loan (see Exhibit 33.6)

 33.15
Participant of the Technology Corners Building Six Mortgage Loan (see Exhibit
33.7)

 33.16

 33.17
Servicer of the 200 West Monroe Mortgage Loan (see Exhibit 33.1)

 33.18
of the 200 West Monroe Mortgage Loan (see Exhibit 33.2)

 33.19
Deutsche Bank Trust Company Americas, as Trustee of the 200 West Monroe

 33.20
Custodian of the 200 West Monroe Mortgage Loan (see Exhibit 33.5)

 33.21
of the 200 West Monroe Mortgage Loan (see Exhibit 33.6)

 33.22
Participant of the 200 West Monroe Mortgage Loan (see Exhibit 33.7)

 33.23

 33.24
of The Outlets at Orange Mortgage Loan

 33.25
 LNR Partners, LLC, as Special Servicer of The
Outlets at Orange Mortgage Loan

 33.26
Wells Fargo Bank, National Association, as Trustee of The Outlets at Orange

 33.27
Custodian of The Outlets at Orange Mortgage Loan (see Exhibit 33.5)

 33.28
of The Outlets at Orange Mortgage Loan (see Exhibit 33.6)

 33.29

 33.30
of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 33.24)

 33.31
 CWCapital Asset Management LLC, as Special
Servicer of the Gumberg Retail Portfolio Mortgage Loan

 33.32
Wells Fargo Bank, National Association, as Trustee of the Gumberg Retail
Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)

 33.33
Custodian of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 33.5)

 33.34
of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 33.6)

 33.35

 33.36
Servicer of the Westminster Mall Mortgage Loan (see Exhibit 33.1)

 33.37
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the Westminster Mall Mortgage Loan (Omitted. See Explanatory

 33.38
Wilmington Trust, National Association, as Trustee of the Westminster Mall

 33.39
Custodian of the Westminster Mall Mortgage Loan (see Exhibit 33.5)

 33.40
of the Westminster Mall Mortgage Loan (see Exhibit 33.6)

 33.41
Participant of the Westminster Mall Mortgage Loan (see Exhibit 33.7)

 33.42

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

 34.1
 Wells Fargo Bank, National Association, as Master
Servicer

 34.2

 34.3
Deutsche Bank Trust Company Americas, as Trustee (Omitted. See Explanatory

 34.4
 Wells Fargo Bank, National Association, as Certificate
Administrator

 34.5
Custodian

 34.6

 34.7
Participant

 34.8
as Servicing Function Participant for the Certificate Administrator

 34.9
as Servicing Function Participant for the Custodian

 34.10
Servicer of the Technology Corners Building Six Mortgage Loan (see Exhibit 34.1)

 34.11
of the Technology Corners Building Six Mortgage Loan (see Exhibit 34.2)

 34.12
Deutsche Bank Trust Company Americas, as Trustee of the Technology Corners
Building Six Mortgage Loan (Omitted. See Explanatory Notes.)

 34.13
Custodian of the Technology Corners Building Six Mortgage Loan (see Exhibit
34.5)

 34.14
of the Technology Corners Building Six Mortgage Loan (see Exhibit 34.6)

 34.15
Participant of the Technology Corners Building Six Mortgage Loan (see Exhibit
34.7)

 34.16

 34.17
Servicer of the 200 West Monroe Mortgage Loan (see Exhibit 34.1)

 34.18
of the 200 West Monroe Mortgage Loan (see Exhibit 34.2)

 34.19
Deutsche Bank Trust Company Americas, as Trustee of the 200 West Monroe

 34.20
Custodian of the 200 West Monroe Mortgage Loan (see Exhibit 34.5)

 34.21
of the 200 West Monroe Mortgage Loan (see Exhibit 34.6)

 34.22
Participant of the 200 West Monroe Mortgage Loan (see Exhibit 34.7)

 34.23

 34.24
of The Outlets at Orange Mortgage Loan

 34.25
 LNR Partners, LLC, as Special Servicer of The
Outlets at Orange Mortgage Loan

 34.26
Wells Fargo Bank, National Association, as Trustee of The Outlets at Orange

 34.27
Custodian of The Outlets at Orange Mortgage Loan (see Exhibit 34.5)

 34.28
of The Outlets at Orange Mortgage Loan (see Exhibit 34.6)

 34.29

 34.30
of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 34.24)

 34.31
 CWCapital Asset Management LLC, as Special
Servicer of the Gumberg Retail Portfolio Mortgage Loan

 34.32
Wells Fargo Bank, National Association, as Trustee of the Gumberg Retail
Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)

 34.33
Custodian of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 34.5)

 34.34
of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 34.6)

 34.35

 34.36
Servicer of the Westminster Mall Mortgage Loan (see Exhibit 34.1)

 34.37
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the Westminster Mall Mortgage Loan (Omitted. See Explanatory

 34.38
Wilmington Trust, National Association, as Trustee of the Westminster Mall

 34.39
Custodian of the Westminster Mall Mortgage Loan (see Exhibit 34.5)

 34.40
of the Westminster Mall Mortgage Loan (see Exhibit 34.6)

 34.41
Participant of the Westminster Mall Mortgage Loan (see Exhibit 34.7)

 34.42

Servicer compliance statements.

 35.1
 Wells Fargo Bank, National Association, as Master
Servicer

 35.2

 35.3
Certificate Administrator

 35.4
as Servicing Function Participant for the Certificate Administrator

 35.5
Servicer of the Technology Corners Building Six Mortgage Loan (see Exhibit
35.1)

 35.6
of the Technology Corners Building Six Mortgage Loan (see Exhibit 35.2)

 35.7
Servicer of the 200 West Monroe Mortgage Loan (see Exhibit 35.1)

 35.8
of the 200 West Monroe Mortgage Loan (see Exhibit 35.2)

 35.9
of The Outlets at Orange Mortgage Loan

 35.10
 LNR Partners, LLC, as Special Servicer of The
Outlets at Orange Mortgage Loan

 35.11
of the Gumberg Retail Portfolio Mortgage Loan (see Exhibit 35.9)

 35.12
CWCapital Asset Management LLC, as Special Servicer of the Gumberg Retail
Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)

 35.13
Servicer of the Westminster Mall Mortgage Loan (see Exhibit 35.1)

 35.14
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the Westminster Mall Mortgage Loan (Omitted. See Explanatory

 99.1 Mortgage Loan Purchase Agreement, dated as of June 23,
2014, between J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Purchaser, and JPMorgan Chase Bank, National Association, as Seller (filed as
Exhibit 99.1 to the registrant's Current Report on Form 8-K filed on June 23,
2014 under Commission File No. 333-190246-05 and incorporated by reference
herein)

 99.2 Mortgage Loan Purchase Agreement, dated as of June 23,
2014, among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Purchaser, Redwood Commercial Mortgage Corporation, as Seller, and Redwood
Trust, Inc. (filed as Exhibit 99.2 to the registrant's Current Report on Form
8-K filed on June 23, 2014 under Commission File No. 333-190246-05 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.

 J.P. Morgan Chase Commercial
Mortgage Securities Corp.

(Depositor)

 /s/ Kunal K. Singh

 Kunal K.
Singh, President and Chief Executive Officer

 (senior officer in charge of
securitization of the depositor)

 Date: March 15, 2024


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, 2023

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: 333-257991-01

 Central Index Key Number of the issuing entity:
0001889297

 BANK 2021-BNK37

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

 Central Index Key Number of the depositor: 0000850779

 Wells Fargo Commercial Mortgage
Securities, Inc.

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

 Central Index Key Number of the sponsor: 0000740906

 Wells Fargo Bank, National
Association

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

 Central Index Key Number of the sponsor: 0001102113

 Bank of America, National
Association

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

 Central Index Key Number of the sponsor: 0001541557

 Morgan Stanley Mortgage Capital
Holdings LLC

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

 Central Index Key Number of the sponsor: 0001577313

 National Cooperative Bank, N.A.

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

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-4197366

 38-4197367

 38-7274829

 (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:

 (704) 374-6161

 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 1201 Lake Robbins Mortgage Loan, the
Raymour & Flanigan Campus Mortgage Loan and the ExchangeRight 49 Mortgage
Loan, which constituted approximately 7.6%, 4.3% and 3.4%, 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 1201 Lake Robbins Mortgage Loan, three other pari passu
loans, which are not assets of the issuing entity, (b) with respect to the
Raymour & Flanigan Campus Mortgage Loan, one other pari passu loan,
which is not an asset of the issuing entity and (c) with respect to the
ExchangeRight 49 Mortgage Loan, one other pari passu loan, which is not
an asset of the issuing entity. These loan combinations, including the 1201
Lake Robbins Mortgage Loan, the Raymour & Flanigan Campus Mortgage Loan and
the ExchangeRight 49 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 One SoHo Square Mortgage Loan, which
constituted approximately 5.7% of the asset pool of the issuing entity as of
its cut-off date. The One SoHo Square Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the One SoHo
Square Mortgage Loan, nineteen other pari passu loans and three
subordinate companion loans, which are not assets of the issuing entity. A pari
passu portion of the loan combination was securitized in the SOHO 2021-SOHO
transaction (the " SOHO 2021-SOHO Transaction "). This loan combination,
including the One SoHo Square Mortgage Loan, is being serviced and administered
pursuant to the trust and servicing agreement for the SOHO 2021-SOHO
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 One North Wacker Mortgage Loan and the
Arizona Mills Mortgage Loan, which constituted approximately 8.7% and 1.9%,
respectively, of the asset pool of the issuing entity as of its cut-off
date. The One North Wacker Mortgage Loan and the Arizona Mills Mortgage
Loan are each an asset of the issuing entity and are each part of a loan
combination that includes (a) with respect to the One North Wacker Mortgage
Loan, four other pari passu loans, which are not assets of the issuing
entity or (b) with respect to the Arizona Mills Mortgage Loan, three other pari
passu loans, which are not assets of the issuing entity. A pari passu
portion of each loan combination was securitized in the BANK 2021-BNK36
transaction, Commission File Number 333-228375-07 (the " BANK 2021-BNK36
Transaction "). These loan combinations, including the One North Wacker
Mortgage Loan and the Arizona Mills Mortgage Loan, are being serviced and
administered pursuant to the pooling and servicing agreement for the BANK
2021-BNK36 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 Park Avenue Plaza Mortgage Loan, which
constituted approximately 5.7% of the asset pool of the issuing entity as of
its cut-off date. The Park Avenue Plaza Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the Park Avenue
Plaza Mortgage Loan, six other pari passu loans and one subordinate
companion loan, 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-PLZA transaction (the " MSC 2021-PLZA Transaction "). This loan
combination, including the Park Avenue Plaza Mortgage Loan, is being serviced
and administered pursuant to the trust and servicing agreement for the MSC
2021-PLZA 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.

 Wells Fargo Bank, National
Association is the general master servicer of the mortgage loans serviced under
the Pooling and Servicing Agreement, the primary servicer of the One North
Wacker Mortgage Loan and the Arizona Mills Mortgage Loan and the primary
servicer and special servicer of the Park Avenue Plaza Mortgage Loan. As a
result, Wells Fargo Bank, 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 Wells Fargo Bank, National
Association in the capacities described above are listed in the Exhibit Index.

 Wells Fargo Bank, National
Association is the custodian of the One North Wacker Mortgage Loan and the
Arizona Mills 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.

 Pentalpha Surveillance LLC is the operating
advisor of the One North Wacker Mortgage Loan, the One SoHo Square Mortgage
Loan and the Arizona Mills 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.

 Midland
Loan Services, a Division of PNC Bank, National Association is the special
servicer of the One SoHo Square Mortgage Loan, which constituted
approximately 5.7% of the asset pool of the issuing entity as of its cut-off
date. In accordance with the Compliance and Disclosure Interpretations, Section
200.03 (Rules 13a-18 and 15d-18, Servicer's Assessment of Compliance), this
percentage must be reduced pro rata because it was only acting as special
servicer of the One SoHo Square Mortgage Loan from January 1, 2023 to May 14,
2023. As a result, it falls below the de minimis requirements in Item
1122 of Regulation AB and no such assessment or attestation is required.

 K-Star Asset Management LLC is the
special servicer of the One SoHo Square Mortgage Loan, which constituted
approximately 5.7% of the asset pool of the issuing entity as of its cut-off
date. In accordance with the Compliance and Disclosure Interpretations, Section
200.03 (Rules 13a-18 and 15d-18, Servicer's Assessment of Compliance), this
percentage must be reduced pro rata because it was only acting as
special servicer of the One SoHo Square Mortgage Loan from May 15, 2023 to
December 31, 2023. As a result, it falls below the de minimis
requirements in Item 1122 of Regulation AB and no such assessment or
attestation is required.

 Rialto Capital Advisors, LLC is
the special servicer of the One North Wacker Mortgage Loan and the Arizona
Mills Mortgage Loan. As a result, Rialto Capital Advisors, LLC 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 Rialto Capital
Advisors, LLC 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, the One North Wacker Mortgage Loan, the Arizona Mills
Mortgage Loan and the Park Avenue Plaza Mortgage Loan. Pursuant to the
Pooling and Servicing Agreement, the pooling and servicing agreement for the
BANK 2021-BNK36 Transaction and the trust and servicing agreement for the MSC
2021-PLZA 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, the One
North Wacker Mortgage Loan, the Arizona Mills Mortgage Loan and the Park Avenue
Plaza 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 general master servicer under the Pooling and
Servicing Agreement and the primary servicer of the One North Wacker Mortgage
Loan, the Arizona Mills Mortgage Loan and the Park Avenue Plaza 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 Items 1122(d)(4)(xi)
and 1122(d)(4)(xii) 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 One North Wacker
Mortgage Loan, the Arizona Mills Mortgage Loan, the Park Avenue Plaza Mortgage
Loan and the One SoHo Square 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 combination that includes the One SoHo Square Mortgage Loan, (i) the
reports on assessment of compliance with servicing criteria and attestation
reports on assessment of compliance with servicing criteria of Midland Loan
Services, a Division of PNC Bank, National Association, as special servicer of
the One SoHo Square Mortgage Loan prior to May 15, 2023 and K-Star Asset
Management LLC, as special servicer of the One SoHo Square Mortgage Loan on and
after May 15, 2023 listed on the Exhibit Index are omitted from this Annual Report
on Form 10-K for the reasons set forth in the Explanatory Notes above; and (ii)
the servicer compliance statements of KeyBank National Association, as primary
servicer of the One SoHo Square Mortgage Loan, Midland Loan Services, a
Division of PNC Bank, National Association, as special servicer of the One SoHo
Square Mortgage Loan prior to May 15, 2023 and K-Star Asset Management LLC, as
special servicer of the One SoHo Square Mortgage Loan on and after May 15, 2023
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 U.S. Bank Trust Company, National Association, as
trustee and as certificate administrator, and U.S. Bank National Association,
as custodian, and Wells Fargo Bank, National Association, as certificate
administrator and as custodian.

 U.S. Bank National Association ("U.S. Bank") and other large
financial institutions have been sued in their capacity as trustee or successor
trustee for certain residential mortgage backed securities ("RMBS")
trusts. The complaints, primarily filed by investors or investor groups
against U.S. Bank and similar institutions, allege the trustees caused losses
to investors as a result of alleged failures by the sponsors, mortgage loan
sellers and servicers to comply with the governing agreements for these RMBS
trusts. Plaintiffs generally assert causes of action based upon the
trustees' purported failures to enforce repurchase obligations of mortgage loan
sellers for alleged breaches of representations and warranties, notify
securityholders of purported events of default allegedly caused by breaches of
servicing standards by mortgage loan servicers and abide by a heightened
standard of care following alleged events of default.

 U.S. Bank denies liability and believes that it has performed
its obligations under the RMBS trusts in good faith, that its actions were not
the cause of losses to investors, that it has meritorious defenses, and it has
contested and intends to continue contesting the plaintiffs' claims
vigorously. However, U.S. Bank cannot assure you as to the outcome of any
of the litigation, or the possible impact of these litigations on the trustee
or the RMBS trusts.

 On March 9, 2018, a law firm purporting to represent fifteen
Delaware statutory trusts (the "DSTs") that issued securities backed by student
loans (the "Student Loans") filed a lawsuit in the Delaware Court of Chancery
against U.S. Bank National Association ("U.S. Bank") in its capacities as
indenture trustee and successor special servicer, and three other institutions
in their respective transaction capacities, with respect to the DSTs and the
Student Loans. This lawsuit is captioned The National Collegiate Student
Loan Master Trust I, et al. v. U.S. Bank National Association, et al., C.A. No.
2018-0167-JRS (Del. Ch.) (the "NCMSLT Action"). The complaint, as amended
on June 15, 2018, alleged that the DSTs have been harmed as a result of
purported misconduct or omissions by the defendants concerning administration
of the trusts and special servicing of the Student Loans. Since the
filing of the NCMSLT Action, certain Student Loan borrowers have made
assertions against U.S. Bank concerning special servicing that appear to be
based on certain allegations made on behalf of the DSTs in the NCMSLT Action.

 U.S. Bank has filed a motion seeking dismissal of the
operative complaint in its entirety with prejudice pursuant to Chancery Court
Rules 12(b)(1) and 12(b)(6) or, in the alternative, a stay of the case while
other prior filed disputes involving the DSTs and the Student Loans are
litigated. On November 7, 2018, the Court ruled that the case should be
stayed in its entirety pending resolution of the first-filed cases. On
January 21, 2020, the Court entered an order consolidating for pretrial
purposes the NCMSLT Action and three other lawsuits pending in the Delaware
Court of Chancery concerning the DSTs and the Student Loans, which remains
pending.

 U.S. Bank denies liability in the NCMSLT Action and believes
it has performed its obligations as indenture trustee and special servicer in
good faith and in compliance in all material respects with the terms of the
agreements governing the DSTs and that it has meritorious defenses. It
has contested and intends to continue contesting the plaintiffs' claims
vigorously.

 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 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 22, 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 One SoHo Square Mortgage Loan,
which is being serviced and administered pursuant to the trust and servicing
agreement for the SOHO 2021-SOHO 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 SOHO 2021-SOHO 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 SOHO
2021-SOHO 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 One North Wacker Mortgage Loan
and the Arizona Mills Mortgage Loan, which are being serviced and administered
pursuant to the pooling and servicing agreement for the BANK 2021-BNK36
Transaction, are attached hereto under Item 15 to this Annual Report on Form
10-K. Attached as Exhibit Z to the pooling and servicing agreement for the BANK
2021-BNK36 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 BANK 2021-BNK36 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 Park Avenue Plaza Mortgage Loan,
which is being serviced and administered pursuant to the trust and servicing
agreement for the MSC 2021-PLZA 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 MSC 2021-PLZA 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-PLZA
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. Exhibit 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, among Wells Fargo Commercial Mortgage Securities, Inc., as Depositor,
Wells Fargo Bank, National Association, as General Master Servicer, CWCapital
Asset Management LLC, as General Special Servicer, National Cooperative Bank,
N.A., as NCB Master Servicer and as NCB Special Servicer, Computershare Trust
Company, N.A., 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 4.1 to the
registrant's Current Report on Form 8-K filed on November 22, 2021 under Commission
File No. 333-257991-01 and incorporated by reference herein).

 4.2
 Trust and Servicing Agreement, dated as of July 30, 2021,
among GS Mortgage Securities Corporation II, as Depositor, KeyBank National
Association, as Servicer, Midland Loan Services, a Division of PNC Bank,
National Association, as Special Servicer, U.S. Bank National Association, as
Certificate Administrator and Trustee, U.S. Bank National Association, as
Custodian, and Pentalpha Surveillance LLC, as Operating Advisor (filed as
Exhibit 99.6 to the registrant's Current Report on Form 8-K filed on November
22, 2021 under Commission File No. 333-257991-01 and incorporated by reference
herein).

 4.3
 Pooling and Servicing Agreement, dated as of October 1,
2021, between Banc of America Merrill Lynch Commercial Mortgage Inc., as Depositor,
Wells Fargo Bank, National Association, as General Master Servicer, Rialto
Capital Advisors, LLC, as General Special Servicer, National Cooperative Bank,
N.A., as NCB Master Servicer and as NCB Special Servicer, Wells Fargo Bank,
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 99.5 to the
registrant's Current Report on Form 8-K filed on November 22, 2021 under
Commission File No. 333-257991-01 and incorporated by reference herein).

 4.4
 Trust and Servicing Agreement, dated as of November 1,
2021, between Morgan Stanley Capital I
Inc., as Depositor, Wells Fargo Bank, National Association, as Servicer and
Special Servicer, Wilmington Trust, National Association, as Trustee, and Wells
Fargo Bank, National Association, as Certificate Administrator and Custodian
(filed as Exhibit 99.7 to the registrant's Current Report on Form 8-K filed on
November 22, 2021 under Commission File No. 333-257991-01 and incorporated by
reference herein).

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

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

 33.1
 Wells Fargo Bank, National Association, as General
Master Servicer

 33.2
 National Cooperative Bank, N.A., as NCB Master

 33.3
 CWCapital Asset Management LLC, as General Special

 33.4
 National Cooperative Bank, N.A., as NCB Special
Servicer (see Exhibit 33.2)

 33.5
Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory
Notes.)

 33.6
as Certificate Administrator

 33.7
as Custodian

 33.8
Advisor

 33.9
Participant

 33.10
Servicer of the 1201 Lake Robbins Mortgage Loan (see Exhibit 33.1)

 33.11
of the 1201 Lake Robbins Mortgage Loan (see Exhibit 33.3)

 33.12
Wilmington Trust, National Association, as Trustee of the 1201 Lake Robbins

 33.13
as Custodian of the 1201 Lake Robbins Mortgage Loan (see Exhibit 33.7)

 33.14
Advisor of the 1201 Lake Robbins Mortgage Loan (see Exhibit 33.8)

 33.15
Participant of the 1201 Lake Robbins Mortgage Loan (see Exhibit 33.9)

 33.16
Servicer of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 33.1)

 33.17
of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 33.3)

 33.18
Wilmington Trust, National Association, as Trustee of the Raymour &
Flanigan Campus Mortgage Loan (Omitted. See Explanatory Notes.)

 33.19
as Custodian of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit
33.7)

 33.20
Advisor of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 33.8)

 33.21
Participant of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit
33.9)

 33.22
Servicer of the ExchangeRight 49 Mortgage Loan (see Exhibit 33.1)

 33.23
of the ExchangeRight 49 Mortgage Loan (see Exhibit 33.3)

 33.24
Wilmington Trust, National Association, as Trustee of the ExchangeRight 49

 33.25
as Custodian of the ExchangeRight 49 Mortgage Loan (see Exhibit 33.7)

 33.26
Advisor of the ExchangeRight 49 Mortgage Loan (see Exhibit 33.8)

 33.27
Participant of the ExchangeRight 49 Mortgage Loan (see Exhibit 33.9)

 33.28
 KeyBank National Association, as Primary Servicer
of the One SoHo Square Mortgage Loan

 33.29
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the One SoHo Square Mortgage Loan prior to May 15, 2023 (Omitted.
See Explanatory Notes.)

 33.30
K-Star Asset Management LLC, as Special Servicer of the One SoHo Square
Mortgage Loan on and after May 15, 2023 (Omitted. See Explanatory Notes.)

 33.31
 U.S. Bank Trust Company, National Association, as
Trustee of the One SoHo Square Mortgage Loan

 33.32
 U.S. Bank National Association, as Custodian of
the One SoHo Square Mortgage Loan (see Exhibit 33.31)

 33.33
of the One SoHo Square Mortgage Loan

 33.34
Servicer of the One North Wacker Mortgage Loan (see Exhibit 33.1)

 33.35
of the One North Wacker Mortgage Loan

 33.36
Wilmington Trust, National Association, as Trustee of the One North Wacker

 33.37
 Wells Fargo Bank, National Association, as
Custodian of the One North Wacker Mortgage Loan

 33.38
of the One North Wacker Mortgage Loan (see Exhibit 33.33)

 33.39
Participant of the One North Wacker Mortgage Loan (see Exhibit 33.9)

 33.40
as Servicing Function Participant of the One North Wacker Mortgage Loan (see
Exhibit 33.7)

 33.41
Servicer of the Arizona Mills Mortgage Loan (see Exhibit 33.1)

 33.42
of the Arizona Mills Mortgage Loan (see Exhibit 33.35)

 33.43
Wilmington Trust, National Association, as Trustee of the Arizona Mills

 33.44
 Wells Fargo Bank, National Association, as
Custodian of the Arizona Mills Mortgage Loan (see Exhibit 33.37)

 33.45
of the Arizona Mills Mortgage Loan (see Exhibit 33.33)

 33.46
Participant of the Arizona Mills Mortgage Loan (see Exhibit 33.9)

 33.47
as Servicing Function Participant of the Arizona Mills Mortgage Loan (see
Exhibit 33.7)

 33.48
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 33.1)

 33.49
 Wells Fargo Bank, National Association, as Special
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 33.1)

 33.50
Wilmington Trust, National Association, as Trustee of the Park Avenue Plaza

 33.51
as Custodian of the Park Avenue Plaza Mortgage Loan (see Exhibit 33.7)

 33.52
Participant of the Park Avenue Plaza Mortgage Loan (see Exhibit 33.9)

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

 34.1
 Wells Fargo Bank, National Association, as General
Master Servicer

 34.2
 National Cooperative Bank, N.A., as NCB Master

 34.3
 CWCapital Asset Management LLC, as General Special

 34.4
 National Cooperative Bank, N.A., as NCB Special Servicer
(see Exhibit 34.2)

 34.5
Wilmington Trust, National Association, as Trustee (Omitted. See Explanatory
Notes.)

 34.6
 Computershare Trust Company, National Association, as
Certificate Administrator

 34.7
as Custodian

 34.8
Advisor

 34.9
Participant

 34.10
Servicer of the 1201 Lake Robbins Mortgage Loan (see Exhibit 34.1)

 34.11
of the 1201 Lake Robbins Mortgage Loan (see Exhibit 34.3)

 34.12
Wilmington Trust, National Association, as Trustee of the 1201 Lake Robbins

 34.13
as Custodian of the 1201 Lake Robbins Mortgage Loan (see Exhibit 34.7)

 34.14
Advisor of the 1201 Lake Robbins Mortgage Loan (see Exhibit 34.8)

 34.15
Participant of the 1201 Lake Robbins Mortgage Loan (see Exhibit 34.9)

 34.16
Servicer of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 34.1)

 34.17
of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 34.3)

 34.18
Wilmington Trust, National Association, as Trustee of the Raymour &
Flanigan Campus Mortgage Loan (Omitted. See Explanatory Notes.)

 34.19
 Computershare Trust Company, National Association, as
Custodian of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 34.7)

 34.20
Advisor of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 34.8)

 34.21
Participant of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit
34.9)

 34.22
Servicer of the ExchangeRight 49 Mortgage Loan (see Exhibit 34.1)

 34.23
of the ExchangeRight 49 Mortgage Loan (see Exhibit 34.3)

 34.24
Wilmington Trust, National Association, as Trustee of the ExchangeRight 49

 34.25
as Custodian of the ExchangeRight 49 Mortgage Loan (see Exhibit 34.7)

 34.26
Advisor of the ExchangeRight 49 Mortgage Loan (see Exhibit 34.8)

 34.27
Participant of the ExchangeRight 49 Mortgage Loan (see Exhibit 34.9)

 34.28
 KeyBank National Association, as Primary Servicer
of the One SoHo Square Mortgage Loan

 34.29
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the One SoHo Square Mortgage Loan prior to May 15, 2023 (Omitted.
See Explanatory Notes.)

 34.30
K-Star Asset Management LLC, as Special Servicer of the One SoHo Square
Mortgage Loan on and after May 15, 2023 (Omitted. See Explanatory Notes.)

 34.31
 U.S. Bank Trust Company, National Association, as
Trustee of the One SoHo Square Mortgage Loan

 34.32
 U.S. Bank National Association, as Custodian of
the One SoHo Square Mortgage Loan (see Exhibit 34.31)

 34.33
of the One SoHo Square Mortgage Loan

 34.34
Servicer of the One North Wacker Mortgage Loan (see Exhibit 34.1)

 34.35
of the One North Wacker Mortgage Loan

 34.36
Wilmington Trust, National Association, as Trustee of the One North Wacker

 34.37
 Wells Fargo Bank, National Association, as
Custodian of the One North Wacker Mortgage Loan

 34.38
of the One North Wacker Mortgage Loan (see Exhibit 34.33)

 34.39
Participant of the One North Wacker Mortgage Loan (see Exhibit 34.9)

 34.40
as Servicing Function Participant of the One North Wacker Mortgage Loan (see
Exhibit 34.7)

 34.41
Servicer of the Arizona Mills Mortgage Loan (see Exhibit 34.1)

 34.42
of the Arizona Mills Mortgage Loan (see Exhibit 34.35)

 34.43
Wilmington Trust, National Association, as Trustee of the Arizona Mills

 34.44
 Wells Fargo Bank, National Association, as
Custodian of the Arizona Mills Mortgage Loan (see Exhibit 34.37)

 34.45
of the Arizona Mills Mortgage Loan (see Exhibit 34.33)

 34.46
Participant of the Arizona Mills Mortgage Loan (see Exhibit 34.9)

 34.47
as Servicing Function Participant of the Arizona Mills Mortgage Loan (see
Exhibit 34.7)

 34.48
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 34.1)

 34.49
 Wells Fargo Bank, National Association, as Special
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 34.1)

 34.50
Wilmington Trust, National Association, as Trustee of the Park Avenue Plaza

 34.51
as Custodian of the Park Avenue Plaza Mortgage Loan (see Exhibit 34.7)

 34.52
Participant of the Park Avenue Plaza Mortgage Loan (see Exhibit 34.9)

Servicer compliance statements.

 35.1
 Wells Fargo Bank, National Association, as General
Master Servicer

 35.2
 National Cooperative Bank, N.A., as NCB Master

 35.3
 CWCapital Asset Management LLC, as General Special

 35.4
 National Cooperative Bank, N.A., as NCB Special
Servicer (see Exhibit 35.2)

 35.5
as Certificate Administrator

 35.6
Servicer of the 1201 Lake Robbins Mortgage Loan (see Exhibit 35.1)

 35.7
of the 1201 Lake Robbins Mortgage Loan (see Exhibit 35.3)

 35.8
Servicer of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 35.1)

 35.9
of the Raymour & Flanigan Campus Mortgage Loan (see Exhibit 35.3)

 35.10
Servicer of the ExchangeRight 49 Mortgage Loan (see Exhibit 35.1)

 35.11
of the ExchangeRight 49 Mortgage Loan (see Exhibit 35.3)

 35.12
KeyBank National Association, as Primary Servicer of the One SoHo Square

 35.13
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the One SoHo Square Mortgage Loan prior to May 15, 2023 (Omitted.
See Explanatory Notes.)

 35.14
K-Star Asset Management LLC, as Special Servicer of the One SoHo Square
Mortgage Loan on and after May 15, 2023 (Omitted. See Explanatory Notes.)

 35.15
Servicer of the One North Wacker Mortgage Loan (see Exhibit 35.1)

 35.16
of the One North Wacker Mortgage Loan

 35.17
Servicer of the Arizona Mills Mortgage Loan (see Exhibit 35.1)

 35.18
of the Arizona Mills Mortgage Loan (see Exhibit 35.16)

 35.19
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 35.1)

 35.20
 Wells Fargo Bank, National Association, as Special
Servicer of the Park Avenue Plaza Mortgage Loan (see Exhibit 35.1)

 99.1
 Agreement Between Note Holders, dated as of October 7,
2021, by and between Bank of America, National Association, as Initial Note A-1
Holder, Bank of America, National Association, as Initial Note A-2 Holder, Bank
of America, National Association, as Initial Note A-3 Holder, Bank of America,
National Association, as Initial Note A-4 Holder, Bank of America, National
Association, as Initial Note A-5 Holder, Bank of America, National Association,
as Initial Note A-6 Holder, and Bank of America, National Association, as
Initial Note A-7 Holder (filed as Exhibit 99.8 to the registrant's Current
Report on Form 8-K filed on November 22, 2021 under Commission File No.

 99.2
 Agreement Between Note Holders, dated as of November 22,
2021, by and between Wells Fargo Bank, National Association, as Initial Note
A-1 Holder, Wells Fargo Bank, National Association, as Initial Note A-2 Holder,
Wells Fargo Bank, National Association, as Initial Note A-3 Holder, and Wells
Fargo Bank, National Association, as Initial Note A-4 Holder (filed as Exhibit 99.9
to the registrant's Current Report on Form 8-K filed on November 22, 2021 under
Commission File No. 333-257991-01 and incorporated by reference herein).

 99.3
 Co-Lender Agreement, dated as of July 30, 2021 by and
among Goldman Sachs Bank USA, as Initial Note A-1-S Holder, Initial Note
A-1-C-1 – Note A-1-C-8 Holder and Initial Note B-1 Holder, DBR Investments Co.
Limited, as Initial Note A-2-S Holder, Initial Note A-2-C-1 – Note A-2-C-6
Holder and Initial Note B-2 Holder and Bank of Montreal, as Initial Note A-3-S
Holder, Initial Note A-3-C-1 – Note A-3-C-3 Holder and Initial Note B-3 Holder
(filed as Exhibit 99.10 to the registrant's Current Report on Form 8-K filed on
November 22, 2021 under Commission File No. 333-257991-01 and incorporated by
reference herein).

 99.4
 Agreement Between Note Holders, dated as of November 17,
2021 by and between Morgan Stanley Bank, N.A., as Initial Note A-1 Holder,
Morgan Stanley Bank, N.A., as Initial Note A-2 Holder, Morgan Stanley Bank,
N.A., as Initial Note A-3 Holder, Morgan Stanley Bank, N.A., as Initial Note
A-4 Holder, Morgan Stanley Bank, N.A., as Initial Note A-5 Holder, Morgan
Stanley Bank, N.A., as Initial Note A-6 Holder, Morgan Stanley Bank, N.A., as
Initial Note A-7 Holder, Morgan Stanley Bank, N.A., as Initial Note A-8 Holder,
and Morgan Stanley Bank, N.A., as Initial Note B-1 Holder (filed as Exhibit
99.11 to the registrant's Current Report on Form 8-K filed on November 22, 2021
under Commission File No. 333-257991-01 and incorporated by reference herein).

 99.5
 Agreement Between Note Holders, dated as of October 7,
2021, by and between Bank of America, National Association, as Initial Note A-1
Holder, and Bank of America, National Association, as Initial Note A-2 Holder
(filed as Exhibit 99.12 to the registrant's Current Report on Form 8-K filed on
November 22, 2021 under Commission File No. 333-257991-01 and incorporated by
reference herein).

 99.6
 Agreement Between Note Holders, dated as of November 22,
2021, by and between Wells Fargo Bank, National Association, as Initial Note
A-1 Holder, and Wells Fargo Bank, National Association, as Initial Note A-2
Holder (filed as Exhibit 99.13 to the registrant's Current Report on Form 8-K
filed on November 22, 2021 under Commission File No. 333-257991-01 and
incorporated by reference herein).

 99.7
 Agreement Between Note Holders, dated as of October 7,
2021, by and between Bank of America, National Association, as Initial Note A-1
Holder, Wells Fargo Bank, National Association, as Initial Note A-2 Holder,
Bank of America, National Association, as Initial Note A-3-1 Holder, Bank of
America, National Association, as Initial Note A-3-2 Holder, and Wells Fargo
Bank, National Association, as Initial Note A-4 Holder (filed as Exhibit 99.14
to the registrant's Current Report on Form 8-K filed on November 22, 2021 under
Commission File No. 333-257991-01 and incorporated by reference herein).

 99.8
 Mortgage Loan Purchase Agreement, dated as of November
12, 2021, between Wells Fargo Bank, National Association, and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.1 to the registrant's
Current Report on Form 8-K filed on November 22, 2021 under Commission File No.

 99.9
 Mortgage Loan Purchase Agreement, dated as of November
12, 2021, between Bank of America, National Association, and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.2 to the registrant's
Current Report on Form 8-K filed on November 22, 2021 under Commission File No.

 99.10
 Mortgage Loan Purchase Agreement, dated as of November
12, 2021, between Morgan Stanley Mortgage Capital Holdings LLC and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.3 to the registrant's
Current Report on Form 8-K filed on November 22, 2021 under Commission File No.

 99.11
 Mortgage Loan Purchase Agreement, dated as of November
12, 2021, between National Cooperative Bank, N.A., and Wells Fargo Commercial
Mortgage Securities, Inc. (filed as Exhibit 99.4 to the registrant's Current
Report on Form 8-K filed on November 22, 2021 under Commission File No.

 (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.

 Wells Fargo Commercial Mortgage
Securities, Inc.

(Depositor)

 /s/ Anthony
Sfarra

 Anthony
Sfarra, President

 (senior officer in charge of
securitization of the depositor)

 Date: March 15, 2024