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: 333-226943-06

 Central Index Key Number of the issuing entity:
0001797288

 Benchmark 2020-B16 Mortgage Trust

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

 Central Index Key Number of the depositor: 0001013454

 Deutsche Mortgage & Asset
Receiving Corporation

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

 Central Index Key Number of the sponsor: 0001541294

 German American Capital Corporation

 (exact name of the sponsor 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: 0001701238

 Citi Real Estate Funding Inc.

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

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-4129130

 38-4129131

 (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) 250-2500

 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 3500 Lacey Mortgage Loan and the 560
Mission Street Mortgage Loan, which constituted approximately 5.6% and 5.0%,
respectively, of the asset pool of the issuing entity as of its cut-off date,
are each an asset of the issuing entity and are each part of a loan combination
that includes (a) with respect to the 3500 Lacey Mortgage Loan, one other pari
passu loan, which is not an asset of the issuing entity and (b) with
respect to the 560 Mission Street Mortgage Loan, five other pari passu
loans, which are not assets of the issuing entity. These loan combinations,
including the 3500 Lacey Mortgage Loan and the 560 Mission Street 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.

Exhibit Index) with respect to the Bellagio Hotel and Casino Mortgage Loan,
which constituted approximately 6.7% of the asset pool of the issuing entity as
of its cut-off date. The Bellagio Hotel and Casino Mortgage Loan is an
asset of the issuing entity and is part of a loan combination that includes the
Bellagio Hotel and Casino Mortgage Loan, twenty-one other pari passu
loans and nine subordinate companion loans, which are not assets of the issuing
entity. A pari passu portion of the loan combination was securitized in
the BX Trust 2019-OC11 transaction (the " BX 2019-OC11 Transaction ").
This loan combination, including the Bellagio Hotel and Casino Mortgage Loan,
is being serviced and administered pursuant to the trust and servicing
agreement for the BX 2019-OC11 Transaction, which is incorporated by reference
as Exhibit 4.2 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the 650 Madison Avenue Mortgage Loan, which
constituted approximately 5.0% of the asset pool of the issuing entity as of
its cut-off date. The 650 Madison Avenue Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the 650 Madison
Avenue Mortgage Loan, twenty other pari passu loans and four subordinate
companion loans, which are not assets of the issuing entity. A pari passu
portion of the loan combination was securitized in the MAD Commercial Mortgage
Trust 2019-650M transaction (the " MAD 2019-650M Transaction "). This loan
combination, including the 650 Madison Avenue Mortgage Loan, is being serviced
and administered pursuant to the trust and servicing agreement for the MAD
2019-650M Transaction, which is incorporated by reference as Exhibit 4.3 to
this Annual Report on Form 10-K.

Exhibit Index) with respect to the 490-504 Myrtle Avenue Mortgage Loan and the
Giant Anchored Portfolio Mortgage Loan, which constituted approximately 3.9%
and 1.1%, respectively, of the asset pool of the issuing entity as of its
cut-off date. The 490-504 Myrtle Avenue Mortgage Loan and the Giant
Anchored 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
490-504 Myrtle Avenue Mortgage Loan, one other pari passu loan, which is
not an asset of the issuing entity or (b) with respect to the Giant Anchored
Portfolio Mortgage Loan, three other pari passu loans, which are not
assets of the issuing entity. The other pari passu portion of each loan
combination was securitized in the Citigroup Commercial Mortgage Trust 2019-C7
transaction, Commission File Number 333-228597-05 (the " CGCMT 2019-C7
Transaction "). These loan combinations, including the 490-504 Myrtle Avenue
Mortgage Loan and the Giant Anchored Portfolio Mortgage Loan, are being
serviced and administered pursuant to the pooling and servicing agreement for
the CGCMT 2019-C7 Transaction, which is incorporated by reference as Exhibit
4.4 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the 1633 Broadway Mortgage Loan, which
constituted approximately 5.0% of the asset pool of the issuing entity as of
its cut-off date. The 1633 Broadway Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the 1633
Broadway Mortgage Loan, thirty-two other pari passu loans and four
subordinate companion loans, which are not assets of the issuing entity. A pari
passu portion of the loan combination was securitized in the BWAY Trust
2019-1633 transaction (the " BWAY 2019-1633 Transaction "). This loan
combination, including the 1633 Broadway Mortgage Loan, is being serviced and
administered pursuant to the trust and servicing agreement for the BWAY
2019-1633 Transaction, which is incorporated by reference as Exhibit 4.5 to
this Annual Report on Form 10-K.

Exhibit Index) with respect to the Starwood Industrial Portfolio Mortgage Loan
and the 510 East 14th Street Mortgage Loan, which constituted approximately
5.0% and 3.9%, respectively, of the asset pool of the issuing entity as of its
cut-off date. The Starwood Industrial Portfolio Mortgage Loan and the 510
East 14th Street 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 Starwood
Industrial Portfolio Mortgage Loan, four other pari passu loans and one
subordinate companion loan, which are not assets of the issuing entity or (b)
with respect to the 510 East 14th Street Mortgage Loan, two other pari passu
loans, which are not assets of the issuing entity. A pari passu portion of
each loan combination was securitized in the GS Mortgage Securities Trust
2020-GC45 transaction, Commission File Number 333-226082-06 (the " GSMS
2020-GC45 Transaction "). These loan combinations, including the Starwood
Industrial Portfolio Mortgage Loan and the 510 East 14th Street Mortgage Loan,
are being serviced and administered pursuant to the pooling and servicing
agreement for the GSMS 2020-GC45 Transaction, which is incorporated by
reference as Exhibit 4.6 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the 181 West Madison Mortgage Loan, which
constituted approximately 4.8% of the asset pool of the issuing entity as of
its cut-off date. The 181 West Madison Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the 181 West
Madison Mortgage Loan, three 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 J.P. Morgan Chase
Commercial Mortgage Securities Trust 2020-LOOP transaction (the " JPMCC
2020-LOOP Transaction "). This loan combination, including the 181 West
Madison Mortgage Loan, is being serviced and administered pursuant to the trust
and servicing agreement for the JPMCC 2020-LOOP Transaction, which is
incorporated by reference as Exhibit 4.7 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the Kings Plaza Mortgage Loan, which constituted
approximately 5.6% of the asset pool of the issuing entity as of its cut-off
date. The Kings Plaza Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the Kings Plaza Mortgage Loan and
eleven other pari passu loans, which are not assets of the issuing
entity. This loan combination, including the Kings Plaza Mortgage Loan, was
serviced under the Pooling and Servicing Agreement for the issuing entity prior
to the closing of the securitization of a pari passu portion of the
Kings Plaza loan combination in the Benchmark 2020-B17 Mortgage Trust
transaction, Commission File Number 333-226123-08 (the " Benchmark 2020-B17
Transaction "). After the closing of the Benchmark 2020-B17
Transaction on March 24, 2020, this loan combination, including the Kings Plaza
Mortgage Loan was, and will continue to be, serviced and administered pursuant
to the pooling and servicing agreement with respect to the Benchmark 2020-B17
Transaction, which is incorporated by reference as Exhibit 4.8 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.

 Midland Loan Services, a Division
of PNC Bank, National Association is the master servicer of the mortgage loans
serviced under the Pooling and Servicing Agreement, the primary servicer of the
Kings Plaza Mortgage Loan, the Starwood Industrial Portfolio Mortgage Loan and
the 510 East 14th Street Mortgage Loan and the special servicer of the Kings
Plaza Mortgage Loan prior to April 27, 2023 and the 510 East 14th Street
Mortgage Loan prior to May 10, 2023. As a result, Midland Loan Services, a
Division of PNC 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 Midland Loan Services, a Division of PNC
Bank, National Association in the capacities described above are listed in the
Exhibit Index.

 KeyBank National Association is
the special servicer of the mortgage loans serviced under the Pooling and
Servicing Agreement prior to July 6, 2023 and the primary servicer of the
Bellagio Hotel and Casino Mortgage Loan, the 1633 Broadway Mortgage Loan, the
650 Madison Avenue Mortgage Loan and the 181 West Madison 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 is the custodian of the mortgage loans serviced under the Pooling
and Servicing Agreement, the Bellagio Hotel and Casino Mortgage Loan, the Kings
Plaza Mortgage Loan, the Starwood Industrial Portfolio Mortgage Loan, the 1633
Broadway Mortgage Loan, the 181 West Madison Mortgage Loan and the 510 East
14th Street Mortgage Loan. As a result, Wells Fargo Bank, National
Association is a servicing function participant in the capacities described
above, because it is servicing mortgage loans that constituted 5% or more of
the assets of the issuing entity as of its cut-off date. The assessments of
compliance with applicable servicing criteria and accountants' attestation
reports delivered by Wells Fargo Bank, National Association in the capacities
described above are listed in the Exhibit Index.

 Park Bridge Lender Services LLC is
the operating advisor of the mortgage loans serviced under the Pooling and
Servicing Agreement, the Bellagio Hotel and Casino Mortgage Loan and the 181
West Madison Mortgage Loan. As a result, Park Bridge Lender Services 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
Park Bridge Lender Services LLC in the capacities described above are listed in
the Exhibit Index.

 Situs Holdings, LLC is the special
servicer of the Bellagio Hotel and Casino Mortgage Loan, the 1633 Broadway
Mortgage Loan and the 181 West Madison Mortgage Loan. As a result, Situs
Holdings, 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 Situs Holdings, LLC in the capacities described above are listed in the
Exhibit Index.

 LNR Partners, LLC is the special
servicer of the 650 Madison Avenue Mortgage Loan, the 490-504 Myrtle Avenue
Mortgage Loan and the Giant Anchored Portfolio Mortgage Loan, which constituted
approximately 5.0%, 3.9% and 1.1%, respectively, 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 650 Madison Avenue Mortgage Loan
from January 1, 2023 to September 17, 2023. As a result, LNR Partners, LLC is
an unaffiliated party that, as a result of such pro rata reduction of such
percentage, is not a "servicer" that meets the criteria in Item 1108(a)(2)(i)
through (iii) of Regulation AB and so no servicer compliance statement is
required.

 3650 REIT Loan Servicing LLC is
the special servicer of the 650 Madison Avenue Mortgage Loan, which constituted
approximately 5.0% 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 650 Madison Avenue Mortgage Loan from September 18, 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.

 Citibank, N.A. is the custodian of
the 650 Madison Avenue Mortgage Loan, the 490-504 Myrtle Avenue Mortgage Loan
and the Giant Anchored Portfolio Mortgage Loan. As a result, Citibank,
N.A. 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 Citibank, N.A. in the capacities described above are
listed in the Exhibit Index, and exclude the servicing criteria set forth in
Items 1122(d)(4)(i) and 1122(d)(4)(ii) of Regulation AB, relating to the
maintenance of collateral or security on pool assets as required by the trust
and servicing agreement for the MAD 2019-650M Transaction and the pooling and
servicing agreement for the CGCMT 2019-C7 Transaction and the safeguarding of
pool assets and related documents as required by the trust and servicing
agreement for the MAD 2019-650M Transaction and the pooling and servicing
agreement for the CGCMT 2019-C7 Transaction which servicing criteria have been
assessed by U.S. Bank National Association, as a servicing function
participant, as described below in these Explanatory Notes.

 Wells Fargo
Bank, National Association is the certificate administrator of the mortgage
loans serviced under the Pooling and Servicing Agreement and the primary
servicer of the Giant Anchored Portfolio Mortgage Loan and the 490-504 Myrtle
Avenue 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.

 Pentalpha Surveillance LLC is the
operating advisor of the Kings Plaza Mortgage Loan, the 1633 Broadway Mortgage
Loan, the Starwood Industrial Portfolio Mortgage Loan, the 510 East 14th Street
Mortgage Loan, the 490-504 Myrtle Avenue Mortgage Loan and the Giant Anchored
Portfolio 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.

 K-Star Asset Management LLC is the
special servicer of the Kings Plaza Mortgage Loan on and after April 27, 2023
and the 510 East 14th Street Mortgage Loan on and after May 10, 2023.
These mortgage loans constitute more than 5%, but less than 10%, of the pool
assets of the issuing entity. Therefore, the Depositor included in this
Annual Report on Form 10-K an assessment of compliance with applicable
servicing criteria for K-Star Asset Management LLC and an accountants'
attestation report pursuant to Item 1122 of Regulation AB because K-Star Asset
Management LLC is servicing more than 5% of the pool assets. However, the
Depositor is not required to include in this Annual Report on Form 10-K a
servicer compliance statement pursuant to Item 1123 of Regulation AB of K-Star
Asset Management LLC because K-Star Asset Management LLC is an unaffiliated
servicer servicing less than 10% of pool assets.

 Wells Fargo Bank, National
Association acts as trustee of the 3500 Lacey Mortgage Loan, the 560 Mission
Street Mortgage Loan, the Bellagio Hotel and Casino Mortgage Loan, the 1633
Broadway Mortgage Loan, the Starwood Industrial Portfolio Mortgage Loan, the
510 East 14th Street Mortgage Loan, the 181 West Madison Mortgage Loan and the
Kings Plaza Mortgage Loan. Pursuant to the Pooling and Servicing
Agreement, the trust and servicing agreement for the BX 2019-OC11 Transaction,
the trust and servicing agreement for the BWAY 2019-1633 Transaction, the
pooling and servicing agreement for the GSMS 2020-GC45 Transaction, the trust
and servicing agreement for the JPMCC 2020-LOOP Transaction and the pooling and
servicing agreement for the Benchmark 2020-B17 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 3500 Lacey Mortgage Loan, the
560 Mission Street Mortgage Loan, the Bellagio Hotel and Casino Mortgage Loan,
the 1633 Broadway Mortgage Loan, the Starwood Industrial Portfolio Mortgage
Loan, the 510 East 14th Street Mortgage Loan, the 181 West Madison Mortgage
Loan and the Kings Plaza Mortgage Loan 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 650 Madison Avenue Mortgage Loan, the
490-504 Myrtle Avenue Mortgage Loan and the Giant Anchored Portfolio Mortgage
Loan. Pursuant to the trust and servicing agreement for the MAD 2019-650M
Transaction and the pooling and servicing agreement for the CGCMT 2019-C7 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 650 Madison Avenue Mortgage
Loan, the 490-504 Myrtle Avenue Mortgage Loan and the Giant Anchored Portfolio
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 an assessment of compliance with applicable servicing criteria and an
accountant's attestation report from U.S. Bank National Association. This entity
was engaged by Citibank, N.A., as custodian of the 650 Madison Avenue Mortgage
Loan, the 490-504 Myrtle Avenue Mortgage Loan and the Giant Anchored Portfolio
Mortgage Loan, to perform certain custodial services. These custodial services
are servicing functions included within the servicing criteria set forth in
Items 1122(d)(4)(i) and 1122(d)(4)(ii) of Regulation AB. Therefore, under the
principles-based definition of "servicer" set forth in Item 1101(j) or
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 assessments of compliance with applicable
servicing criteria and accountants' attestation reports from CoreLogic
Solutions, LLC. This entity was engaged by the primary servicer of the
490-504 Myrtle Avenue Mortgage Loan and the Giant Anchored Portfolio 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 Bellagio Hotel and Casino Mortgage Loan, the 1633 Broadway
Mortgage Loan, the Starwood Industrial Portfolio Mortgage Loan, the 510 East
14th Street Mortgage Loan, the 181 West Madison Mortgage Loan, the Kings Plaza
Mortgage Loan, the 650 Madison Avenue Mortgage Loan, the 490-504 Myrtle Avenue
Mortgage Loan and the Giant Anchored Portfolio 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 Starwood Industrial Portfolio Mortgage Loan,
the 510 East 14th Street Mortgage Loan, the Kings Plaza Mortgage Loan and the
650 Madison Avenue Mortgage Loan, (i) the report on assessment of compliance
with servicing criteria and attestation report on assessment of compliance with
servicing criteria of 3650 REIT Loan Servicing LLC as special servicer of the
650 Madison Avenue Mortgage Loan on and after September 18, 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 CWCapital Asset Management LLC as special servicer of the
Starwood Industrial Portfolio Mortgage Loan, 3650 REIT Loan Servicing LLC as
special servicer of the 650 Madison Avenue Mortgage Loan on and after September
18, 2023 and K-Star Asset Management LLC as special servicer of the Kings Plaza
Mortgage Loan on and after April 27, 2023 and the 510 East 14th Street Mortgage
Loan on and after May 10, 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, and the servicer
compliance statement of LNR Partners, LLC as special servicer of the 650
Madison Avenue Mortgage Loan prior to September 18, 2023, the 490-504 Myrtle
Avenue Mortgage Loan and the Giant Anchored Portfolio Mortgage Loan listed on
the Exhibit Index is omitted from this Annual Report on Form 10-K for the
reasons set forth in the Explanatory Notes above.

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

 None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

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

 Item 6. [Reserved]

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

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

 Item 8. Financial Statements and Supplementary Data.

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

 Item 9A. Controls and Procedures.

 Item 9B. Other Information.

 None.

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

 None.

 Item 10. Directors, Executive Officers and Corporate
Governance.

 Item 11. Executive Compensation.

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

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

 Item 14. Principal Accountant Fees and Services.

 ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

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

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

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

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

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

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

 Item 1117 of Regulation AB, Legal Proceedings.

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

 In December 2014, Phoenix Light SF Limited (Phoenix Light)
and certain related entities filed a complaint in the United States District
Court for the Southern District of New York alleging claims against Wells Fargo
Bank, N.A., in its capacity as trustee for a number of residential
mortgage-backed securities (RMBS) trusts. Complaints raising similar
allegations have been filed by Commerzbank AG in the Southern District of New
York, IKB International and IKB Deutsche Industriebank (together, IKB) in New
York state court, and Park Royal I LLC and Park Royal II LLC in New York state
court. In each case, the plaintiffs allege that Wells Fargo Bank, N.A., as
trustee, caused losses to investors, and plaintiffs assert causes of action
based upon, among other things, the trustee's alleged failure to notify and
enforce repurchase obligations of mortgage loan sellers for purported breaches
of representations and warranties, notify investors of alleged events of
default, and abide by appropriate standards of care following alleged events of
default. In July 2022, the district court dismissed Phoenix Light's claims and
certain of the claims asserted by Commerzbank AG, and subsequently entered
judgment in each case in favor of Wells Fargo Bank, N.A. In August 2022,
Phoenix Light and Commerzbank AG each appealed the district court's decision to
the United States Court of Appeals for the Second Circuit. Phoenix Light
dismissed its appeal in May 2023, terminating its case. In 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 February 12, 2020 pursuant to Rule 424(b)(2).

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

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 Schedule
II 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).

assessments of compliance with respect to the Bellagio Hotel and Casino
Mortgage Loan, which is being serviced and administered pursuant to the trust
and servicing agreement for the BX 2019-OC11 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 BX 2019-OC11 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 BX
2019-OC11 Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

assessments of compliance with respect to the 650 Madison Avenue Mortgage Loan,
which is being serviced and administered pursuant to the trust and servicing
agreement for the MAD 2019-650M 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 MAD 2019-650M 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 MAD 2019-650M
Transaction responsible for each applicable servicing criteria set forth in
Item 1122(d).

assessments of compliance with respect to the 490-504 Myrtle Avenue Mortgage
Loan and the Giant Anchored Portfolio Mortgage Loan, which are being serviced
and administered pursuant to the pooling and servicing agreement for the CGCMT
2019-C7 Transaction, are attached hereto under Item 15 to this Annual Report on
Form 10-K. Attached as Exhibit O to the pooling and servicing agreement for the
CGCMT 2019-C7 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 CGCMT 2019-C7 Transaction responsible for each
applicable servicing criteria set forth in Item 1122(d).

assessments of compliance with respect to the 1633 Broadway Mortgage Loan,
which is being serviced and administered pursuant to the trust and servicing
agreement for the BWAY 2019-1633 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 BWAY 2019-1633 Transaction incorporated by
reference as Exhibit 4.5 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the BWAY
2019-1633 Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

assessments of compliance with respect to the Starwood Industrial Portfolio
Mortgage Loan and the 510 East 14th Street Mortgage Loan, which are being
serviced and administered pursuant to the pooling and servicing agreement for
the GSMS 2020-GC45 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 GSMS 2020-GC45 Transaction incorporated by reference as
Exhibit 4.6 to this Annual Report on Form 10-K is a chart identifying the
entities participating in a servicing function for the GSMS 2020-GC45
Transaction responsible for each applicable servicing criteria set forth in
Item 1122(d).

assessments of compliance with respect to the 181 West Madison Mortgage Loan,
which is being serviced and administered pursuant to the trust and servicing
agreement for the JPMCC 2020-LOOP 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 JPMCC 2020-LOOP Transaction incorporated by
reference as Exhibit 4.7 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the JPMCC
2020-LOOP Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

assessments of compliance with respect to the Kings Plaza Mortgage Loan, which
is being serviced and administered pursuant to the pooling and servicing
agreement for the Benchmark 2020-B17 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 Benchmark 2020-B17 Transaction
incorporated by reference as Exhibit 4.8 to this Annual Report on Form 10-K is
a chart identifying the entities participating in a servicing function for the
Benchmark 2020-B17 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 February 1,
2020, by and among Deutsche Mortgage & Asset Receiving Corporation, as
Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Master Servicer, KeyBank National Association, as Special Servicer, Wells
Fargo Bank, National Association, as Trustee, Wells Fargo Bank, National
Association, as Certificate Administrator, Paying Agent and Custodian, 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 February 12, 2020 under Commission File No. 333-226943-06 and
incorporated by reference herein).

 4.2
 Trust and Servicing Agreement, dated as of December 1,
2019, by and among Morgan Stanley Capital I Inc., as Depositor, KeyBank
National Association, as Servicer, Situs Holdings, LLC, as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator, Custodian
and Trustee, and Park Bridge Lender Services LLC, as Operating Advisor (filed
as Exhibit 4.2 to the registrant's Current Report on Form 8-K filed on February
12, 2020 under Commission File No. 333-226943-06 and incorporated by reference
herein).

 4.3
 Trust and Servicing Agreement, dated as of December 8, 2019,
by and among Citigroup Commercial Mortgage Securities Inc., as Depositor,
KeyBank National Association, as Servicer, LNR Partners, LLC, as Special
Servicer, Wilmington Trust, National Association, as Trustee, and Citibank,
N.A., as Certificate Administrator (filed as Exhibit 4.5 to the registrant's
Current Report on Form 8-K filed on February 12, 2020 under Commission File No.
333-226943-06 and incorporated by reference herein).

 4.4
 Pooling and Servicing Agreement, dated as of December 1,
2019, by and among Citigroup Commercial Mortgage Securities Inc., as Depositor,
Wells Fargo Bank, National Association, as Master Servicer, LNR Partners, LLC,
as Special Servicer, Pentalpha Surveillance LLC, as Operating Advisor and Asset
Representations Reviewer, Citibank, N.A., as Certificate Administrator, and
Wilmington Trust, National Association, as Trustee (filed as Exhibit 4.7 to the

 4.5
 Trust and Servicing Agreement, dated as of December 20,
2019, by and among GS Mortgage Securities Corporation II, as Depositor, KeyBank
National Association, as Servicer, Situs Holdings, LLC, as Special Servicer,
Wells Fargo Bank, National Association, as Certificate Administrator, Custodian
and Trustee, and Pentalpha Surveillance LLC, as Operating Advisor (filed as
Exhibit 4.3 to the registrant's Current Report on Form 8-K filed on February 12,
2020 under Commission File No. 333-226943-06 and incorporated by reference
herein).

 4.6
 Pooling and Servicing Agreement, dated as of January 1,
2020, by and among GS Mortgage Securities Corporation II, as Depositor, Midland
Loan Services, a Division of PNC Bank, National Association, as Master Servicer
and as General Special Servicer, CWCapital Asset Management LLC, as Starwood
Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and as Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and as Asset Representations Reviewer (filed as Exhibit 4.4 to the

 4.7
 Trust and Servicing Agreement, dated as of February 5,
2020, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, KeyBank National Association, as Servicer, Situs Holdings, LLC, as
Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and as Trustee, and Park Bridge Lender Services LLC, as Operating
Advisor (filed as Exhibit 4.6 to the registrant's Current Report on Form 8-K
filed on February 12, 2020 under Commission File No. 333-226943-06 and
incorporated by reference herein).

 4.8
 Pooling and Servicing Agreement, dated as of March 1,
2020, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, Midland Loan Services, a Division of PNC 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, Wells Fargo Bank, National Association, as Trustee, and
Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations
Reviewer (filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K
filed on March 30, 2020 under Commission File No. 333-226943-06 and
incorporated by reference herein).

 4.9
 Agreement Between Note Holders, dated as of December 9,
2019, by and between Morgan Stanley Bank, N.A., as Initial Note A-1-S1 Holder,
Initial Note A-1-S2 Holder, Initial Note A-1-RL Holder, Initial Note A-1-C1
Holder, Initial Note A-1-C2 Holder, Initial Note A-1-C3 Holder, Initial Note
A-1-C4 Holder, Initial Note A-1-C5 Holder, Initial Note B-1-S Holder, Initial
Note B-1-RL Holder and Initial Note C-1-S Holder, Citi Real Estate Funding
Inc., as Initial Note A-2-S1 Holder, Initial Note A-2-S2 Holder, Initial Note
A-2-RL Holder, Initial Note A-2-C1 Holder, Initial Note A-2-C2 Holder, Initial
Note A-2-C3 Holder, Initial Note A-2-C4 Holder, Initial Note A-2-C5 Holder,
Initial Note B-2-S Holder, Initial Note B-2-RL Holder and Initial Note C-2-S
Holder, and JPMorgan Chase Bank, National Association, as Initial Note A-3-S1
Holder, Initial Note A-3-S2 Holder, Initial Note A-3-RL Holder, Initial Note
A-3-C1 Holder, Initial Note A-3-C2 Holder, Initial Note A-3-C3 Holder, Initial
Note A-3-C4 Holder, Initial Note A-3-C5 Holder, Initial Note B-3-S Holder,
Initial Note B-3-RL Holder and Initial Note C-3-S Holder (filed as Exhibit 4.8
to the registrant's Current Report on Form 8-K filed on February 12, 2020 under

 4.10 Co-Lender Agreement, dated as of December 3, 2019, by and
among JPMorgan Chase Bank, National Association, as Initial Note 1 Holder,
Societe Generale Financial Corporation, as Initial Note 2 Holder, and Wells
Fargo Bank, National Association, as Initial Note 3 Holder (filed as Exhibit
4.9 to the registrant's Current Report on Form 8-K filed on February 12, 2020
under Commission File No. 333-226943-06 and incorporated by reference herein).

 4.11 Co-Lender Agreement, dated as of February 7, 2020, by and
between JPMorgan Chase Bank, National Association, as Initial Note A-1 Holder,
and JPMorgan Chase Bank, National Association, as Initial Note A-2 Holder (filed
as Exhibit 4.10 to the registrant's Current Report on Form 8-K filed on
February 12, 2020 under Commission File No. 333-226943-06 and incorporated by
reference herein).

 4.12 Agreement Between Noteholders, dated as of January 30,
2020, by and between DBR Investments Co. Limited, as Initial Note A-1-1 Holder,
DBR Investments Co. Limited, as Initial Note A-1-2-A Holder, DBR Investments
Co. Limited, as Initial Note A-1-2-B Holder, DBR Investments Co. Limited, as
Initial Note A-1-3 Holder, and DBR Investments Co. Limited, as Initial Note
A-1-4 Holder, and Bank of America, N.A., as Initial Note A-2-A Holder, and Bank
of America, N.A., as Initial A-2-B Holder (filed as Exhibit 4.11 to the

 4.13 Co-Lender Agreement, dated as of December 20, 2019, by
and among Goldman Sachs Bank USA, as Initial Note A-1-S-1 Holder, Initial Note
A-1-C-1 Holder, Initial Note A-1-C-2 Holder, Initial Note A-1-C-3 Holder,
Initial Note A-1-C-4 Holder, Initial Note A-1-C-5 Holder, Initial Note A-1-C-6
Holder, Initial Note A-1-C-7 Holder and Initial Note B-1 Holder, DBR
Investments Co. Limited, as Initial Note A-2-S-1 Holder, Initial Note A-2-C-1
Holder, Initial Note A-2-C-2 Holder, Initial Note A-2-C-3 Holder, Initial Note
A-2-C-4 Holder, Initial Note A-2-C-5 Holder, Initial Note A-2-C-6 Holder,
Initial Note A-2-C-7 Holder and Initial Note B-2 Holder, JPMorgan Chase Bank,
National Association, as Initial Note A-3-S-1 Holder, Initial Note A-3-C-1
Holder, Initial Note A-3-C-2 Holder, Initial Note A-3-C-3 Holder, Initial Note
A-3-C-4 Holder, Initial Note A-3-C-5 Holder, Initial Note A-3-C-6 Holder,
Initial Note A-3-C-7 Holder and Initial Note B-3 Holder, and Wells Fargo Bank,
National Association, as Initial Note A-4-S-1 Holder, Initial Note A-4-C-1
Holder, Initial Note A-4-C-2 Holder, Initial Note A-4-C-3 Holder, Initial Note
A-4-C-4 Holder, Initial Note A-4-C-5 Holder, Initial Note A-4-C-6 Holder,
Initial Note A-4-C-7 Holder and Initial Note B-4 Holder (filed as Exhibit 4.12
to the registrant's Current Report on Form 8-K filed on February 12, 2020 under

 4.14 Agreement Between Noteholders, dated as of January 30,
2020, by and between DBR Investments Co. Limited, as Initial Note A-1 Holder,
DBR Investments Co. Limited, as Initial Note A-2-1 Holder, DBR Investments Co.
Limited, as Initial Note A-2-2 Holder, DBR Investments Co. Limited, as Initial
Note A-3-1 Holder, DBR Investments Co. Limited, as Initial Note A-3-2 Holder,
DBR Investments Co. Limited, as Initial Note A-4 Holder, and DBR Investments
Co. Limited, as Initial Note B Holder (filed as Exhibit 4.13 to the registrant's
Current Report on Form 8-K filed on February 12, 2020 under Commission File No.
333-226943-06 and incorporated by reference herein).

 4.15 Agreement Between Noteholders, dated as of November 26,
2019, by and among Citi Real Estate Funding Inc., as Initial Note A-1 Holder
and Initial Note A-4 Holder, Goldman Sachs Bank USA, as Initial Note A-2 Holder
and Initial Note A-5 Holder, Barclays Capital Real Estate Inc., as Initial Note
A-3 Holder and Initial Note A-6 Holder, BMO Harris Bank N.A., as Initial Note
A-7 Holder, Citi Real Estate Funding Inc., as Initial Note B-1 Holder, Goldman
Sachs Bank USA, as Initial Note B-2 Holder, Barclays Capital Real Estate Inc.,
as Initial Note B-3 Holder, and BMO Harris Bank N.A., as Initial Note B-4
Holder (filed as Exhibit 4.14 to the registrant's Current Report on Form 8-K
filed on February 12, 2020 under Commission File No. 333-226943-06 and
incorporated by reference herein).

 4.16 Co-Lender Agreement, dated as of February 5, 2020, by and
between JPMorgan Chase Bank, National Association, as Initial Note A-1 Holder,
JPMorgan Chase Bank, National Association, as Initial Note A-2 Holder, JPMorgan
Chase Bank, National Association, as Initial Note A-3 Holder, JPMorgan Chase
Bank, National Association, as Initial Note A-4 Holder, and JPMorgan Chase
Bank, National Association, as Initial Note B Holder (filed as Exhibit 4.15 to
the registrant's Current Report on Form 8-K filed on February 12, 2020 under

 4.17 Co-Lender Agreement, dated as of January 29, 2020, by and
between Citi Real Estate Funding Inc., as Initial Note A-1-1 Holder, Citi Real
Estate Funding Inc., as Initial Note A-1-2 Holder, and Citi Real Estate Funding
Inc., as Initial Note A-2 Holder (filed as Exhibit 4.16 to the registrant's
Current Report on Form 8-K filed on February 12, 2020 under Commission File No.
333-226943-06 and incorporated by reference herein).

 4.18 Co-Lender Agreement, dated as of December 4, 2019, by and
between Citi Real Estate Funding Inc., as Initial Note A-1 Holder, and Citi
Real Estate Funding Inc., as Initial Note A-2 Holder (filed as Exhibit 4.17 to
the registrant's Current Report on Form 8-K filed on February 12, 2020 under

 4.19 Agreement Between Note Holders, dated as of November 26,
2019, by and between Citi Real Estate Funding Inc., as Initial Note A-1-A
Holder, Citi Real Estate Funding Inc., as Initial Note A-1-B Holder, Wells
Fargo Bank, National Association, as Initial Note A-2-A Holder, and Wells Fargo
Bank, National Association, as Initial Note A-2-B Holder (filed as Exhibit 4.18
to the registrant's Current Report on Form 8-K filed on February 12, 2020 under

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

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

 33.1
National Association, as Master Servicer

 33.2
prior to July 6, 2023

 33.3
on and after July 6, 2023

 33.4
 Wells Fargo Bank, National Association, as Trustee
and Certificate Administrator

 33.5
Custodian

 33.6
Advisor

 33.7
as Servicing Function Participant for the Certificate Administrator

 33.8
as Servicing Function Participant for the Custodian

 33.9
 Midland Loan Services, a Division of PNC Bank, National
Association, as Primary Servicer of the 3500 Lacey Mortgage Loan (see Exhibit
33.1)

 33.10
of the 3500 Lacey Mortgage Loan prior to July 6, 2023 (see Exhibit 33.2)

 33.11
of the 3500 Lacey Mortgage Loan on and after July 6, 2023 (see Exhibit 33.3)

 33.12
Wells Fargo Bank, National Association, as Trustee of the 3500 Lacey Mortgage

 33.13
Custodian of the 3500 Lacey Mortgage Loan (see Exhibit 33.5)

 33.14
Advisor of the 3500 Lacey Mortgage Loan (see Exhibit 33.6)

 33.15

 33.16
National Association, as Primary Servicer of the 560 Mission Street Mortgage
Loan (see Exhibit 33.1)

 33.17
of the 560 Mission Street Mortgage Loan prior to July 6, 2023 (see Exhibit
33.2)

 33.18
of the 560 Mission Street Mortgage Loan on and after July 6, 2023 (see Exhibit
33.3)

 33.19
Wells Fargo Bank, National Association, as Trustee of the 560 Mission Street

 33.20
Custodian of the 560 Mission Street Mortgage Loan (see Exhibit 33.5)

 33.21
Advisor of the 560 Mission Street Mortgage Loan (see Exhibit 33.6)

 33.22

 33.23
of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 33.2)

 33.24
Bellagio Hotel and Casino Mortgage Loan

 33.25
Wells Fargo Bank, National Association, as Trustee of the Bellagio Hotel and
Casino Mortgage Loan (Omitted. See Explanatory Notes.)

 33.26
Custodian of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 33.5)

 33.27
Advisor of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 33.6)

 33.28

 33.29
of the 650 Madison Avenue Mortgage Loan (see Exhibit 33.2)

 33.30
 LNR Partners, LLC, as Special Servicer of the 650
Madison Avenue Mortgage Loan prior to September 18, 2023

 33.31
3650 REIT Loan Servicing LLC, as Special Servicer of the 650 Madison Avenue
Mortgage Loan on and after September 18, 2023 (Omitted. See Explanatory Notes.)

 33.32
Wilmington Trust, National Association, as Trustee of the 650 Madison Avenue

 33.33
 Citibank, N.A., as Custodian of the 650 Madison
Avenue Mortgage Loan

 33.34
Function Participant of the 650 Madison Avenue Mortgage Loan

 33.35
Servicer of the 490-504 Myrtle Avenue Mortgage Loan

 33.36
 LNR Partners, LLC, as Special Servicer of the 490-504
Myrtle Avenue Mortgage Loan (see Exhibit 33.30)

 33.37
Wilmington Trust, National Association, as Trustee of the 490-504 Myrtle Avenue

 33.38
 Citibank, N.A., as Custodian of the 490-504 Myrtle
Avenue Mortgage Loan (see Exhibit 33.33)

 33.39
of the 490-504 Myrtle Avenue Mortgage Loan

 33.40
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the 490-504 Myrtle Avenue Mortgage Loan

 33.41
Function Participant of the 490-504 Myrtle Avenue Mortgage Loan (see Exhibit
33.34)

 33.42
Servicer of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 33.35)

 33.43
 LNR Partners, LLC, as Special Servicer of the
Giant Anchored Portfolio Mortgage Loan (see Exhibit 33.30)

 33.44
Wilmington Trust, National Association, as Trustee of the Giant Anchored

 33.45
 Citibank, N.A., as Custodian of the Giant Anchored
Portfolio Mortgage Loan (see Exhibit 33.33)

 33.46
of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 33.39)

 33.47
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 33.40)

 33.48
Function Participant of the Giant Anchored Portfolio Mortgage Loan (see Exhibit
33.34)

 33.49
of the 1633 Broadway Mortgage Loan (see Exhibit 33.2)

 33.50
1633 Broadway Mortgage Loan (see Exhibit 33.24)

 33.51
Wells Fargo Bank, National Association, as Trustee of the 1633 Broadway

 33.52
Custodian of the 1633 Broadway Mortgage Loan (see Exhibit 33.5)

 33.53
of the 1633 Broadway Mortgage Loan (see Exhibit 33.39)

 33.54

 33.55
National Association, as Primary Servicer of the Starwood Industrial Portfolio
Mortgage Loan (see Exhibit 33.1)

 33.56
 CWCapital Asset Management LLC, as Special
Servicer of the Starwood Industrial Portfolio Mortgage Loan

 33.57
Wells Fargo Bank, National Association, as Trustee of the Starwood Industrial

 33.58
Custodian of the Starwood Industrial Portfolio Mortgage Loan (see Exhibit 33.5)

 33.59
of the Starwood Industrial Portfolio Mortgage Loan (see Exhibit 33.39)

 33.60

 33.61
National Association, as Primary Servicer of the 510 East 14th Street Mortgage
Loan (see Exhibit 33.1)

 33.62
National Association, as Special Servicer of the 510 East 14th Street Mortgage
Loan prior to May 10, 2023 (see Exhibit 33.1)

 33.63
 K-Star Asset Management LLC, as Special Servicer
of the 510 East 14th Street Mortgage Loan on and after May 10, 2023

 33.64
Wells Fargo Bank, National Association, as Trustee of the 510 East 14th Street

 33.65
Custodian of the 510 East 14th Street Mortgage Loan (see Exhibit 33.5)

 33.66
of the 510 East 14th Street Mortgage Loan (see Exhibit 33.39)

 33.67

 33.68
of the 181 West Madison Mortgage Loan (see Exhibit 33.2)

 33.69
181 West Madison Mortgage Loan (see Exhibit 33.24)

 33.70
Wells Fargo Bank, National Association, as Trustee of the 181 West Madison

 33.71
Custodian of the 181 West Madison Mortgage Loan (see Exhibit 33.5)

 33.72
Advisor of the 181 West Madison Mortgage Loan (see Exhibit 33.6)

 33.73

 33.74
National Association, as Primary Servicer of the Kings Plaza Mortgage Loan (see
Exhibit 33.1)

 33.75
National Association, as Special Servicer of the Kings Plaza Mortgage Loan
prior to April 27, 2023 (see Exhibit 33.1)

 33.76
 K-Star Asset Management LLC, as Special Servicer
of the Kings Plaza Mortgage Loan on and after April 27, 2023 (see Exhibit
33.63)

 33.77
Wells Fargo Bank, National Association, as Trustee of the Kings Plaza Mortgage

 33.78
Custodian of the Kings Plaza Mortgage Loan (see Exhibit 33.5)

 33.79
of the Kings Plaza Mortgage Loan (see Exhibit 33.39)

 33.80

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

 34.1
National Association, as Master Servicer

 34.2
prior to July 6, 2023

 34.3
on and after July 6, 2023

 34.4
 Wells Fargo Bank, National Association, as Trustee
and Certificate Administrator

 34.5
Custodian

 34.6
Advisor

 34.7
as Servicing Function Participant for the Certificate Administrator

 34.8
as Servicing Function Participant for the Custodian

 34.9
National Association, as Primary Servicer of the 3500 Lacey Mortgage Loan (see
Exhibit 34.1)

 34.10
of the 3500 Lacey Mortgage Loan prior to July 6, 2023 (see Exhibit 34.2)

 34.11
of the 3500 Lacey Mortgage Loan on and after July 6, 2023 (see Exhibit 34.3)

 34.12
Wells Fargo Bank, National Association, as Trustee of the 3500 Lacey Mortgage

 34.13
Custodian of the 3500 Lacey Mortgage Loan (see Exhibit 34.5)

 34.14
Advisor of the 3500 Lacey Mortgage Loan (see Exhibit 34.6)

 34.15

 34.16
National Association, as Primary Servicer of the 560 Mission Street Mortgage
Loan (see Exhibit 34.1)

 34.17
of the 560 Mission Street Mortgage Loan prior to July 6, 2023 (see Exhibit
34.2)

 34.18
 Argentic Services Company LP, as Special Servicer of
the 560 Mission Street Mortgage Loan on and after July 6, 2023 (see Exhibit
34.3)

 34.19
Wells Fargo Bank, National Association, as Trustee of the 560 Mission Street

 34.20
Custodian of the 560 Mission Street Mortgage Loan (see Exhibit 34.5)

 34.21
Advisor of the 560 Mission Street Mortgage Loan (see Exhibit 34.6)

 34.22

 34.23
of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 34.2)

 34.24
Bellagio Hotel and Casino Mortgage Loan

 34.25
Wells Fargo Bank, National Association, as Trustee of the Bellagio Hotel and
Casino Mortgage Loan (Omitted. See Explanatory Notes.)

 34.26
Custodian of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 34.5)

 34.27
Advisor of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 34.6)

 34.28

 34.29
of the 650 Madison Avenue Mortgage Loan (see Exhibit 34.2)

 34.30
 LNR Partners, LLC, as Special Servicer of the 650
Madison Avenue Mortgage Loan prior to September 18, 2023

 34.31
3650 REIT Loan Servicing LLC, as Special Servicer of the 650 Madison Avenue
Mortgage Loan on and after September 18, 2023 (Omitted. See Explanatory Notes.)

 34.32
Wilmington Trust, National Association, as Trustee of the 650 Madison Avenue

 34.33
 Citibank, N.A., as Custodian of the 650 Madison
Avenue Mortgage Loan

 34.34
Function Participant of the 650 Madison Avenue Mortgage Loan

 34.35
Servicer of the 490-504 Myrtle Avenue Mortgage Loan

 34.36
 LNR Partners, LLC, as Special Servicer of the
490-504 Myrtle Avenue Mortgage Loan (see Exhibit 34.30)

 34.37
Wilmington Trust, National Association, as Trustee of the 490-504 Myrtle Avenue

 34.38
 Citibank, N.A., as Custodian of the 490-504 Myrtle
Avenue Mortgage Loan (see Exhibit 34.33)

 34.39
of the 490-504 Myrtle Avenue Mortgage Loan

 34.40
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the 490-504 Myrtle Avenue Mortgage Loan

 34.41
Function Participant of the 490-504 Myrtle Avenue Mortgage Loan (see Exhibit
34.34)

 34.42
Servicer of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 34.35)

 34.43
 LNR Partners, LLC, as Special Servicer of the
Giant Anchored Portfolio Mortgage Loan (see Exhibit 34.30)

 34.44
Wilmington Trust, National Association, as Trustee of the Giant Anchored

 34.45
 Citibank, N.A., as Custodian of the Giant Anchored
Portfolio Mortgage Loan (see Exhibit 34.33)

 34.46
of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 34.39)

 34.47
 CoreLogic Solutions, LLC, as Servicing Function
Participant of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 34.40)

 34.48
Function Participant of the Giant Anchored Portfolio Mortgage Loan (see Exhibit
34.34)

 34.49
of the 1633 Broadway Mortgage Loan (see Exhibit 34.2)

 34.50
1633 Broadway Mortgage Loan (see Exhibit 34.24)

 34.51
Wells Fargo Bank, National Association, as Trustee of the 1633 Broadway

 34.52
 Wells Fargo Bank, National Association, as Custodian
of the 1633 Broadway Mortgage Loan (see Exhibit 34.5)

 34.53
of the 1633 Broadway Mortgage Loan (see Exhibit 34.39)

 34.54

 34.55
National Association, as Primary Servicer of the Starwood Industrial Portfolio
Mortgage Loan (see Exhibit 34.1)

 34.56
 CWCapital Asset Management LLC, as Special
Servicer of the Starwood Industrial Portfolio Mortgage Loan

 34.57
Wells Fargo Bank, National Association, as Trustee of the Starwood Industrial

 34.58
Custodian of the Starwood Industrial Portfolio Mortgage Loan (see Exhibit 34.5)

 34.59
of the Starwood Industrial Portfolio Mortgage Loan (see Exhibit 34.39)

 34.60

 34.61
National Association, as Primary Servicer of the 510 East 14th Street Mortgage
Loan (see Exhibit 34.1)

 34.62
National Association, as Special Servicer of the 510 East 14th Street Mortgage
Loan prior to May 10, 2023 (see Exhibit 34.1)

 34.63
 K-Star Asset Management LLC, as Special Servicer
of the 510 East 14th Street Mortgage Loan on and after May 10, 2023

 34.64
Wells Fargo Bank, National Association, as Trustee of the 510 East 14th Street

 34.65
Custodian of the 510 East 14th Street Mortgage Loan (see Exhibit 34.5)

 34.66
of the 510 East 14th Street Mortgage Loan (see Exhibit 34.39)

 34.67

 34.68
of the 181 West Madison Mortgage Loan (see Exhibit 34.2)

 34.69
181 West Madison Mortgage Loan (see Exhibit 34.24)

 34.70
Wells Fargo Bank, National Association, as Trustee of the 181 West Madison

 34.71
Custodian of the 181 West Madison Mortgage Loan (see Exhibit 34.5)

 34.72
Advisor of the 181 West Madison Mortgage Loan (see Exhibit 34.6)

 34.73

 34.74
National Association, as Primary Servicer of the Kings Plaza Mortgage Loan (see
Exhibit 34.1)

 34.75
National Association, as Special Servicer of the Kings Plaza Mortgage Loan
prior to April 27, 2023 (see Exhibit 34.1)

 34.76
 K-Star Asset Management LLC, as Special Servicer
of the Kings Plaza Mortgage Loan on and after April 27, 2023 (see Exhibit
34.63)

 34.77
Wells Fargo Bank, National Association, as Trustee of the Kings Plaza Mortgage

 34.78
Custodian of the Kings Plaza Mortgage Loan (see Exhibit 34.5)

 34.79
of the Kings Plaza Mortgage Loan (see Exhibit 34.39)

 34.80

Servicer compliance statements.

 35.1
National Association, as Master Servicer

 35.2
prior to July 6, 2023

 35.3
on and after July 6, 2023

 35.4
Certificate Administrator

 35.5
as Servicing Function Participant for the Certificate Administrator

 35.6
National Association, as Primary Servicer of the 3500 Lacey Mortgage Loan (see
Exhibit 35.1)

 35.7
of the 3500 Lacey Mortgage Loan prior to July 6, 2023 (see Exhibit 35.2)

 35.8
 Argentic Services Company LP, as Special Servicer of
the 3500 Lacey Mortgage Loan on and after July 6, 2023 (see Exhibit 35.3)

 35.9
National Association, as Primary Servicer of the 560 Mission Street Mortgage
Loan (see Exhibit 35.1)

 35.10
of the 560 Mission Street Mortgage Loan prior to July 6, 2023 (see Exhibit 35.2)

 35.11
of the 560 Mission Street Mortgage Loan on and after July 6, 2023 (see Exhibit
35.3)

 35.12
of the Bellagio Hotel and Casino Mortgage Loan (see Exhibit 35.2)

 35.13
Bellagio Hotel and Casino Mortgage Loan

 35.14
of the 650 Madison Avenue Mortgage Loan (see Exhibit 35.2)

 35.15
LNR Partners, LLC, as Special Servicer of the 650 Madison Avenue Mortgage Loan
prior to September 18, 2023 (Omitted. See Explanatory Notes.)

 35.16
3650 REIT Loan Servicing LLC, as Special Servicer of the 650 Madison Avenue
Mortgage Loan on and after September 18, 2023 (Omitted. See Explanatory Notes.)

 35.17
Servicer of the 490-504 Myrtle Avenue Mortgage Loan

 35.18
LNR Partners, LLC, as Special Servicer of the 490-504 Myrtle Avenue Mortgage

 35.19
Servicer of the Giant Anchored Portfolio Mortgage Loan (see Exhibit 35.17)

 35.20
LNR Partners, LLC, as Special Servicer of the Giant Anchored Portfolio Mortgage

 35.21
of the 1633 Broadway Mortgage Loan (see Exhibit 35.2)

 35.22
1633 Broadway Mortgage Loan (see Exhibit 35.13)

 35.23
National Association, as Primary Servicer of the Starwood Industrial Portfolio
Mortgage Loan (see Exhibit 35.1)

 35.24
CWCapital Asset Management LLC, as Special Servicer of the Starwood Industrial

 35.25
National Association, as Primary Servicer of the 510 East 14th Street Mortgage
Loan (see Exhibit 35.1)

 35.26
National Association, as Special Servicer of the 510 East 14th Street Mortgage
Loan prior to May 10, 2023 (see Exhibit 35.1)

 35.27
K-Star Asset Management LLC, as Special Servicer of the 510 East 14th Street
Mortgage Loan on and after May 10, 2023 (Omitted. See Explanatory Notes.)

 35.28
of the 181 West Madison Mortgage Loan (see Exhibit 35.2)

 35.29
181 West Madison Mortgage Loan (see Exhibit 35.13)

 35.30
National Association, as Primary Servicer of the Kings Plaza Mortgage Loan (see
Exhibit 35.1)

 35.31
National Association, as Special Servicer of the Kings Plaza Mortgage Loan
prior to April 27, 2023 (see Exhibit 35.1)

 35.32
K-Star Asset Management LLC, as Special Servicer of the Kings Plaza Mortgage Loan
on and after April 27, 2023 (Omitted. See Explanatory Notes.)

 99.1 Mortgage Loan Purchase Agreement, dated and effective
January 24, 2020, between Deutsche Mortgage & Asset Receiving Corporation
and German American Capital Corporation (filed as Exhibit 99.1 to the

 99.2 Mortgage Loan Purchase Agreement, dated and effective
January 24, 2020, between Deutsche Mortgage & Asset Receiving Corporation
and JPMorgan Chase Bank, National Association (filed as Exhibit 99.2 to the

 99.3 Mortgage Loan Purchase Agreement, dated and effective
January 24, 2020, between Deutsche Mortgage & Asset Receiving Corporation
and Citi Real Estate Funding Inc. (filed as Exhibit 99.3 to the registrant's
Current Report on Form 8-K filed on February 12, 2020 under Commission File No.
333-226943-06 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.

 Deutsche Mortgage & Asset
Receiving Corporation

(Depositor)

 /s/ Helaine
M. Kaplan

 Helaine M.
Kaplan, President

 (senior officer in charge of
securitization of the depositor)

 Date: March 18, 2024

 /s/ Matt
Smith

 Matt Smith, Director

 Date: March 18, 2024