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: 333-257991-08

 Central Index Key Number of the issuing entity:
0001996001

 BANK5 2023-5YR4

 (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: 0001541557

 Morgan Stanley Mortgage Capital
Holdings LLC

 (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: 0000835271

 JPMorgan Chase Bank, National
Association

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

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 56-1643598

 (I.R.S. Employer

 Identification Number)

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 Nvidia Santa Clara Mortgage Loan, which
constituted approximately 9.4% of the asset pool of the issuing entity as of
its cut-off date, is an asset of the issuing entity and is part of a loan
combination that includes the Nvidia Santa Clara Mortgage Loan and three other pari
passu loans, which are not assets of the issuing entity. This loan
combination, including the Nvidia Santa Clara Mortgage Loan, is 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 McKesson Phase 2 Mortgage Loan, which
constituted approximately 4.0% of the asset pool of the issuing entity as of
its cut-off date. The McKesson Phase 2 Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the McKesson
Phase 2 Mortgage Loan and one other pari passu loan, which is not an
asset of the issuing entity. The other pari passu portion of the loan
combination was securitized in the BANK5 2023-5YR1 transaction, Commission File
Number 333-257991-06 (the " BANK5 2023-5YR1 Transaction "). This loan
combination, including the McKesson Phase 2 Mortgage Loan, is being serviced
and administered pursuant to the pooling and servicing agreement for the BANK5
2023-5YR1 Transaction, which is incorporated by reference as Exhibit 4.2 to
this Annual Report on Form 10-K.

Exhibit Index) with respect to the 1201 Third Avenue Mortgage Loan and the 1825
K Street NW Mortgage Loan, which constituted approximately 2.7% and 1.3%,
respectively, of the asset pool of the issuing entity as of its cut-off
date. The 1201 Third Avenue Mortgage Loan and the 1825 K Street NW
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 1201 Third Avenue
Mortgage Loan, six other pari passu loans, which are not assets of the
issuing entity and (b) with respect to the 1825 K Street NW Mortgage Loan, one
other pari passu loan, which is not an asset of the issuing entity. A pari
passu portion of each loan combination was securitized in the BANK
2023-BNK46 transaction, Commission File Number 333-257991-07 (the " BANK
2023-BNK46 Transaction "). These loan combinations, including the 1201 Third
Avenue Mortgage Loan and the 1825 K Street NW Mortgage Loan, are being serviced
and administered pursuant to the pooling and servicing agreement for the BANK
2023-BNK46 Transaction, which is incorporated by reference as Exhibit 4.3 to
this Annual Report on Form 10-K.

Exhibit Index) with respect to the 11 West 42nd Street Mortgage Loan and the
Short Pump Town Center Mortgage Loan, which constituted approximately 4.2% and
2.7%, respectively, of the asset pool of the issuing entity as of its cut-off
date. The 11 West 42nd Street Mortgage Loan and the Short Pump Town
Center 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 11 West 42nd Street
Mortgage Loan, twenty other pari passu loans, which are not assets of
the issuing entity and (b) with respect to the Short Pump Town Center Mortgage
Loan, six other pari passu loans, which are not assets of the issuing
entity. A pari passu portion of each loan combination was securitized in
the BANK5 2023-5YR3 transaction, Commission File Number 333-261279-04 (the " BANK5
2023-5YR3 Transaction "). These loan combinations, including the 11 West
42nd Street Mortgage Loan and the Short Pump Town Center Mortgage Loan, are
being serviced and administered pursuant to the pooling and servicing agreement
for the BANK5 2023-5YR3 Transaction, which is incorporated by reference as
Exhibit 4.4 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the Westfarms Mortgage Loan, which constituted
approximately 9.9% of the asset pool of the issuing entity as of its cut-off
date. The Westfarms Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the Westfarms Mortgage Loan and
eight other pari passu loans, which are not assets of the issuing
entity. A pari passu portion of the loan combination was securitized in
the BMO 2023-5C2 Mortgage Trust transaction, Commission File Number
333-255934-08 (the " BMO 2023-5C2 Transaction "). This loan combination,
including the Westfarms Mortgage Loan, is being serviced and administered
pursuant to the pooling and servicing agreement for the BMO 2023-5C2
Transaction, which is incorporated by reference as Exhibit 4.5 to this Annual
Report on Form 10-K.

Exhibit Index) with respect to the Merit Hill Self Storage Mortgage Loan, which
constituted approximately 2.9% of the asset pool of the issuing entity as of
its cut-off date. The Merit Hill Self Storage Mortgage Loan is an asset
of the issuing entity and is part of a loan combination that includes the Merit
Hill Self Storage Mortgage Loan and three other pari passu loans, which
are not assets of the issuing entity. A pari passu portion of the loan
combination was securitized in the Benchmark 2023-V4 Mortgage Trust
transaction, Commission File Number 333-262701-05 (the " Benchmark 2023-V4
Transaction "). This loan combination, including the Merit Hill Self Storage
Mortgage Loan, is being serviced and administered pursuant to the pooling and
servicing agreement for the Benchmark 2023-V4 Transaction, which is
incorporated by reference as Exhibit 4.6 to this Annual Report on Form 10-K.

Exhibit Index) with respect to the Philadelphia Marriott Downtown Mortgage
Loan, which constituted approximately 2.7% of the asset pool of the issuing
entity as of its cut-off date. The Philadelphia Marriott Downtown
Mortgage Loan is an asset of the issuing entity and is part of a loan
combination that includes the Philadelphia Marriott Downtown Mortgage Loan and
ten other pari passu loans, which are not assets of the issuing entity.
A pari passu portion of the loan combination was securitized in the
BBCMS Mortgage Trust 2023-5C23 transaction, Commission File Number
333-257737-11 (the " BBCMS 2023-5C23 Transaction "). This loan
combination, including the Philadelphia Marriott Downtown Mortgage Loan, is
being serviced and administered pursuant to the pooling and servicing agreement
for the BBCMS 2023-5C23 Transaction, which is incorporated by reference as
Exhibit 4.7 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 of the mortgage loans serviced under the
Pooling and Servicing Agreement and the primary servicer of the 11 West 42nd
Street Mortgage Loan, the McKesson Phase 2 Mortgage Loan, the Short Pump Town
Center Mortgage Loan and the 1201 Third 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.

 KeyBank National Association is
the special servicer of the mortgage loans serviced under the Pooling and
Servicing Agreement and the primary servicer of the Westfarms 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.

 Computershare Trust Company,
National Association is the custodian of the mortgage loans serviced under the
Pooling and Servicing Agreement, the Westfarms Mortgage Loan, the 11 West 42nd
Street Mortgage Loan, the McKesson Phase 2 Mortgage Loan, the Merit Hill Self
Storage Mortgage Loan, the Short Pump Town Center Mortgage Loan, the
Philadelphia Marriott Downtown Mortgage Loan, the 1201 Third Avenue Mortgage
Loan and the 1825 K Street NW Mortgage Loan. As a result, Computershare
Trust Company, 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 Computershare Trust Company,
National Association in the capacities described above are listed in the
Exhibit Index.

 Midland Loan Services, a Division
of PNC Bank, National Association is the primary servicer of the Nvidia Santa
Clara Mortgage Loan, the Merit Hill Self Storage Mortgage Loan, the
Philadelphia Marriott Downtown Mortgage Loan and the 1825 K Street NW Mortgage
Loan. 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.

 Park Bridge Lender Services LLC is
the operating advisor of the mortgage loans serviced under the Pooling and
Servicing Agreement, the Merit Hill Self Storage Mortgage Loan, the 1201 Third
Avenue Mortgage Loan, the Philadelphia Marriott Downtown Mortgage Loan and the
1825 K Street NW 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.

 Pentalpha Surveillance LLC is the
operating advisor of the 11 West 42nd Street Mortgage Loan, the McKesson Phase
2 Mortgage Loan and the Short Pump Town Center 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.

 LNR Partners, LLC is the special
servicer of the 1825 K Street NW Mortgage Loan, the 1201 Third Avenue Mortgage
Loan and the Philadelphia Marriott Downtown Mortgage Loan. 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
LNR Partners, LLC and an accountants' attestation report pursuant to Item 1122
of Regulation AB because LNR Partners, 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 LNR Partners, LLC because LNR Partners, LLC is an
unaffiliated servicer servicing less than 10% of pool assets.

 Greystone Servicing Company LLC is
the special servicer of the Westfarms Mortgage Loan, the 11 West 42nd Street
Mortgage Loan and the Short Pump Town Center Mortgage Loan. As a result,
Greystone Servicing Company 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 Greystone Servicing Company LLC in the
capacities described above are listed in the Exhibit Index.

 Computershare Trust Company,
National Association acts as trustee of the Nvidia Santa Clara Mortgage Loan,
the McKesson Phase 2 Mortgage Loan, the 11 West 42nd Street Mortgage Loan, the
Short Pump Town Center Mortgage Loan, the Merit Hill Self Storage Mortgage Loan
and the Philadelphia Marriott Downtown Mortgage Loan. Pursuant to the
Pooling and Servicing Agreement, the pooling and servicing agreement for the
BANK5 2023-5YR1 Transaction, the pooling and servicing agreement for the BANK5
2023-5YR3 Transaction, the pooling and servicing agreement for the Benchmark
2023-V4 Transaction and the pooling and servicing agreement for the BBCMS
2023-5C23 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 Nvidia Santa Clara Mortgage Loan, the McKesson Phase 2 Mortgage Loan, the
11 West 42nd Street Mortgage Loan, the Short Pump Town Center Mortgage Loan,
the Merit Hill Self Storage Mortgage Loan and the Philadelphia Marriott
Downtown 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 1201 Third Avenue Mortgage Loan, the 1825 K
Street NW Mortgage Loan and the Westfarms Mortgage Loan. Pursuant to the
pooling and servicing agreement for the BANK 2023-BNK46 Transaction and the
pooling and servicing agreement for the BMO 2023-5C2 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 1201 Third Avenue Mortgage
Loan, the 1825 K Street NW Mortgage Loan and the Westfarms 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 McKesson Phase 2 Mortgage Loan, the
1201 Third Avenue Mortgage Loan, the 11 West 42nd Street Mortgage Loan and the
Short Pump Town Center 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)).

 The
assessments of compliance with applicable servicing criteria, accountants'
attestation reports and servicer compliance statements of the certificate
administrator of the McKesson Phase 2 Mortgage Loan, the 1201 Third Avenue
Mortgage Loan, the 1825 K Street NW Mortgage Loan, the 11 West 42nd Street
Mortgage Loan, the Short Pump Town Center Mortgage Loan, the Westfarms Mortgage
Loan, the Merit Hill Self Storage Mortgage Loan and the Philadelphia Marriott
Downtown 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 McKesson Phase 2 Mortgage Loan, the 1201
Third Avenue Mortgage Loan, the 1825 K Street NW Mortgage Loan, the
Philadelphia Marriott Downtown Mortgage Loan and the Merit Hill Self Storage
Mortgage Loan, (i) the reports on assessment of compliance with servicing
criteria and attestation reports on assessment of compliance with servicing
criteria of CWCapital Asset Management LLC as special servicer of the McKesson
Phase 2 Mortgage Loan and K-Star Asset Management LLC as special servicer of
the Merit Hill Self Storage Mortgage Loan, listed on the Exhibit Index are
omitted from this Annual Report on Form 10-K as they are not required to be
included on this Annual Report on Form 10-K per Instruction 3 to Item 1122 of
Regulation AB because they are parties performing activities that address
servicing criteria relating to 5% or less of the assets of the issuing entity;
and (ii) the servicer compliance statements of CWCapital Asset Management LLC
as special servicer of the McKesson Phase 2 Mortgage Loan, LNR Partners, LLC as
special servicer of the 1201 Third Avenue Mortgage Loan, the 1825 K Street NW
Mortgage Loan and the Philadelphia Marriott Downtown Mortgage Loan and K-Star
Asset Management LLC as special servicer of the Merit Hill Self Storage
Mortgage Loan, listed on the Exhibit Index are omitted from this Annual Report
on Form 10-K as they are not required by Item 1123 of Regulation AB to be
included on this Annual Report on Form 10-K because they are each an
unaffiliated party that is not a "servicer" that meets the criteria in Item
1108(a)(2)(i) through (iii) of Regulation AB.

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

 None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

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

 Item 6. [Reserved]

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

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

 Item 8. Financial Statements and Supplementary Data.

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

 Item 9A. Controls and Procedures.

 Item 9B. Other Information.

 None.

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

 None.

 Item 10. Directors, Executive Officers and Corporate
Governance.

 Item 11. Executive Compensation.

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

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

 Item 14. Principal Accountant Fees and Services.

 ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

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

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

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

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

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

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

 Item 1117 of Regulation AB, Legal Proceedings.

 The registrant knows of no material pending legal proceeding
involving the trust or any party related to the trust, other than routine
litigation incidental to the duties of those respective parties.

 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 December 4, 2023 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 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).

assessments of compliance with respect to the McKesson Phase 2 Mortgage Loan,
which is being serviced and administered pursuant to the pooling and servicing
agreement for the BANK5 2023-5YR1 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 BANK5 2023-5YR1 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 BANK5
2023-5YR1 Transaction responsible for each applicable servicing criteria set
forth in Item 1122(d).

criteria for asset-backed securities and related attestation reports on such assessments
of compliance with respect to the 1201 Third Avenue Mortgage Loan and the 1825
K Street NW Mortgage Loan, which are being serviced and administered pursuant
to the pooling and servicing agreement for the BANK 2023-BNK46 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 BANK 2023-BNK46
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 2023-BNK46 Transaction responsible for each applicable
servicing criteria set forth in Item 1122(d).

assessments of compliance with respect to the 11 West 42nd Street Mortgage Loan
and the Short Pump Town Center Mortgage Loan, which are being serviced and
administered pursuant to the pooling and servicing agreement for the BANK5
2023-5YR3 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 BANK5 2023-5YR3 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 BANK5 2023-5YR3 Transaction responsible for each
applicable servicing criteria set forth in Item 1122(d).

assessments of compliance with respect to the Westfarms Mortgage Loan, which is
being serviced and administered pursuant to the pooling and servicing agreement
for the BMO 2023-5C2 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 BMO 2023-5C2 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 BMO 2023-5C2 Transaction
responsible for each applicable servicing criteria set forth in Item 1122(d).

assessments of compliance with respect to the Merit Hill Self Storage Mortgage
Loan, which is being serviced and administered pursuant to the pooling and
servicing agreement for the Benchmark 2023-V4 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 Benchmark 2023-V4 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
Benchmark 2023-V4 Transaction responsible for each applicable servicing
criteria set forth in Item 1122(d).

assessments of compliance with respect to the Philadelphia Marriott Downtown
Mortgage Loan, which is being serviced and administered pursuant to the pooling
and servicing agreement for the BBCMS 2023-5C23 Transaction, are attached
hereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA
to the pooling and servicing agreement for the BBCMS 2023-5C23 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
BBCMS 2023-5C23 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 December 1,
2023, among Wells Fargo Commercial Mortgage Securities, Inc., as Depositor,
Wells Fargo Bank, National Association, as Master Servicer, KeyBank National
Association, as Special Servicer, Computershare Trust Company, National
Association, as Certificate Administrator and 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
December 4, 2023 under Commission File No. 333-257991-08 and incorporated by
reference herein).

 4.2
 Pooling and Servicing Agreement, dated as of April 1,
2023, among Wells Fargo Commercial Mortgage Securities, Inc., as Depositor,
Wells Fargo Bank, National Association, as Master Servicer, CWCapital Asset
Management LLC, as Special Servicer, Computershare Trust Company, 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 registrant's Current Report on Form 8-K filed on
December 4, 2023 under Commission File No. 333-257991-08 and incorporated by
reference herein).

 4.3
 Pooling and Servicing Agreement, dated as of August 1,
2023, among Wells Fargo Commercial Mortgage Securities, Inc., as Depositor,
Wells Fargo Bank, National Association, as General Master Servicer, LNR
Partners, LLC, as General Special Servicer, National Cooperative Bank, N.A., as
Co-op Master Servicer and as Co-op Special Servicer, Computershare Trust
Company, National Association, as Certificate Administrator, Wilmington Trust,
National Association, as Trustee, and Park Bridge Lender Services LLC, as
Operating Advisor and as Asset Representations Reviewer (filed as Exhibit 4.6
to the registrant's Current Report on Form 8-K filed on December 4, 2023 under
Commission File No. 333-257991-08 and incorporated by reference herein).

 4.4
 Pooling and Servicing Agreement, dated as of September 1,
2023, between Banc of America Merrill Lynch Commercial Mortgage Inc., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer,
Greystone Servicing Company LLC, as Special Servicer, Computershare Trust
Company, National Association, as Certificate Administrator and as Trustee, and
Pentalpha Surveillance LLC, as Operating Advisor and as Asset Representations
Reviewer (filed as Exhibit 4.3 to the registrant's Current Report on Form 8-K
filed on December 4, 2023 under Commission File No. 333-257991-08 and
incorporated by reference herein).

 4.5
 Pooling and Servicing Agreement, dated as of November 1,
2023, among BMO Commercial Mortgage Securities LLC, as Depositor, KeyBank
National Association, as Master Servicer, Greystone Servicing Company LLC, as
Special Servicer, BellOak, LLC, as Operating Advisor and as Asset
Representations Reviewer, Computershare Trust Company, National Association, as
Certificate Administrator, and Wilmington Trust, National Association, as
Trustee (filed as Exhibit 4.2 to the registrant's Current Report on Form 8-K
filed on December 4, 2023 under Commission File No. 333-257991-08 and
incorporated by reference herein).

 4.6
 Pooling and Servicing Agreement, dated as of November 1,
2023, among Citigroup Commercial Mortgage Securities Inc., as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Master
Servicer, K-Star Asset Management LLC, as a Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and Asset Representations Reviewer,
and Computershare Trust Company, National Association, as Certificate
Administrator and Trustee (filed as Exhibit 4.5 to the registrant's Current Report
on Form 8-K filed on December 4, 2023 under Commission File No. 333-257991-08
and incorporated by reference herein).

 4.7
 Pooling and Servicing Agreement, dated as of December 1,
2023, among Barclays Commercial Mortgage Securities LLC, as Depositor, Midland
Loan Services, a Division of PNC Bank, National Association, as Master
Servicer, LNR Partners, LLC, as Special Servicer, Computershare Trust Company,
National Association, as Certificate Administrator and as Trustee, and Park
Bridge Lender Services LLC, as Operating Advisor and as Asset Representations
Reviewer (filed as Exhibit 4.7 to the registrant's Current Report on Form 8-K/A
filed on December 8, 2023 under Commission File No. 333-257991-08 and
incorporated by reference herein).

 4.8
 Co-Lender Agreement, dated as of September 21, 2023, by
and among Goldman Sachs Bank USA, as Initial Note A-1 Holder, Wells Fargo Bank,
National Association, as Initial Note A-2-1 Holder, Wells Fargo Bank, National
Association, as Initial Note A-2-2 Holder, Wells Fargo Bank, National
Association, as Initial Note A-2-3 Holder, Goldman Sachs Bank USA, as Initial
Note A-3 Holder, Goldman Sachs Bank USA, as Initial Note A-4 Holder, Goldman
Sachs Bank USA, as Initial Note A-5 Holder, Goldman Sachs Bank USA, as Initial
Note A-6 Holder, and Goldman Sachs Bank USA, as Initial Note A-7 Holder (filed
as Exhibit 4.8 to the registrant's Current Report on Form 8-K filed on December

 4.9
 Co-Lender Agreement, dated as of November 17, 2023, by
and among 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 A-5 Holder (filed as Exhibit
4.9 to the registrant's Current Report on Form 8-K filed on December 4, 2023
under Commission File No. 333-257991-08 and incorporated by reference herein).

 4.10
 Agreement Between Noteholders, dated as of June 30, 2023,
by and between Bank of America, N.A., as Initial Note A-1-1 Holder, Bank of
America, N.A., as Initial Note A-1-2 Holder, Bank of America, N.A., as Initial
Note A-1-3 Holder, Bank of America, N.A., as Initial Note A-1-4 Holder, Bank of
America, N.A., as Initial Note A-1-5 Holder, UBS AG, New York Branch, as
Initial Note A-2-1 Holder, UBS AG, New York Branch, as Initial Note A-2-2
Holder, UBS AG, New York Branch, as Initial Note A-2-3 Holder, UBS AG, New York
Branch, as Initial Note A-2-4 Holder, UBS AG, New York Branch, as Initial Note
A-2-5 Holder, UBS AG, New York Branch, as Initial Note A-2-6 Holder, UBS AG,
New York Branch, as Initial Note A-2-7 Holder, UBS AG, New York Branch, as
Initial Note A-2-8 Holder, UBS AG, New York Branch, as Initial Note A-2-9
Holder, UBS AG, New York Branch, as Initial Note A-2-10 Holder, UBS AG, New
York Branch, as Initial Note A-2-11 Holder, LMF Commercial, LLC, as Initial
Note A-3-1 Holder, LMF Commercial, LLC, as Initial Note A-3-2 Holder, LMF
Commercial, LLC, as Initial Note A-3-3 Holder, LMF Commercial, LLC, as Initial
Note A-3-4 Holder, LMF Commercial, LLC, as Initial Note A-3-5 Holder, LMF
Commercial, LLC, as Initial Note A-3-6 Holder, LMF Commercial, LLC, as Initial
Note A-3-7 Holder, and LMF Commercial, LLC, as Initial Note A-3-8 Holder (filed
as Exhibit 4.10 to the registrant's Current Report on Form 8-K filed on
December 4, 2023 under Commission File No. 333-257991-08 and incorporated by
reference herein).

 4.11
 Agreement Between Note Holders, dated as of April 19,
2023 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, and Morgan Stanley
Mortgage Capital Holdings LLC, as Initial Agent (filed as Exhibit 4.11 to the
registrant's Current Report on Form 8-K filed on December 4, 2023 under
Commission File No. 333-257991-08 and incorporated by reference herein).

 4.12
 Co-Lender Agreement, dated as of October 20, 2023, by and
among Goldman Sachs Bank USA, as Initial Note A-1 Holder, Goldman Sachs Bank
USA, as Initial Note A-2 Holder, Goldman Sachs Bank USA, as Initial Note A-3
Holder, and Wells Fargo Bank, National Association, as Initial Note A-4 Holder
(filed as Exhibit 4.12 to the registrant's Current Report on Form 8-K filed on
December 4, 2023 under Commission File No. 333-257991-08 and incorporated by
reference herein).

 4.13
 Agreement Between Noteholders, dated as of July 6, 2023,
by and between Bank of America, N.A, as Initial Note A-1 Holder, Bank of
America, N.A, as Initial Note A-2 Holder, Bank of America, N.A, as Initial Note
A-3 Holder, Bank of America, N.A, as Initial Note A-4 Holder, Goldman Sachs
Banks USA, as Initial Note A-5 Holder, Goldman Sachs Banks USA, as Initial Note
A-6 Holder, and Goldman Sachs Banks USA, as Initial Note A-7 Holder (filed as
Exhibit 4.13 to the registrant's Current Report on Form 8-K filed on December

 4.14
 Agreement Between Note Holders, dated as of April 19,
2023 by and between Morgan Stanley Bank, N.A., as Initial Note A-1-1 Holder,
Morgan Stanley Bank, N.A., as Initial Note A-1-2 Holder, Morgan Stanley Bank,
N.A., as Initial Note A-1-3 Holder, Morgan Stanley Bank, N.A., 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 Morgan Stanley Mortgage Capital Holdings LLC, as Initial Agent (filed as
Exhibit 4.14 to the registrant's Current Report on Form 8-K filed on December

 4.15
 Agreement Between Note Holders, dated as of October 25,
2023, by and between Barclays Capital Real Estate Inc., as Initial Note A-1
Holder, JPMorgan Chase Bank National Association, as Initial Note A-2 Holder,
Wells Fargo Bank, National Association, as Initial Note A-3 Holder, Barclays
Capital Real Estate Inc., as Initial Note A-4 Holder, JPMorgan Chase Bank
National Association, as Initial Note A-5 Holder, Wells Fargo Bank, National
Association, as Initial Note A-6 Holder, Barclays Capital Real Estate Inc., as
Initial Note A-7 Holder, JPMorgan Chase Bank National Association, as Initial
Note A-8 Holder, Wells Fargo Bank, National Association, as Initial Note A-9
Holder, Wells Fargo Bank, National Association, as Initial Note A-10 Holder,
JPMorgan Chase Bank National Association, as Initial Note A-11 Holder, and
JPMorgan Chase Bank National Association, as Initial Note A-12 Holder (filed as
Exhibit 4.15 to the registrant's Current Report on Form 8-K filed on December

 4.16
 Co-Lender Agreement, dated as of July 25, 2023, 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 4.16 to the registrant's Current Report on Form 8-K filed on December

 4.17
 Primary Servicing Agreement, dated as of December 1,
2023, by and between Midland Loan Services, a Division of PNC Bank, National
Association, as Primary Servicer, and Wells Fargo Bank, National Association,
as Master Servicer (filed as Exhibit 99.5 to the registrant's Current Report
on Form 8-K filed on December 4, 2023 under Commission File No. 333-257991-08
and incorporated by reference herein).

 4.18
 Primary Servicing Agreement, dated as of August 1, 2023,
by and between Midland Loan Services, a Division of PNC Bank, National
Association, as Primary Servicer, and Wells Fargo Bank, National Association,
as Master Servicer (filed as Exhibit 99.6 to the registrant's Current Report on
Form 8-K filed on December 4, 2023 under Commission File No. 333-257991-08 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
as Trustee and Certificate Administrator

 33.4
as Custodian

 33.5
Advisor

 33.6
Participant

 33.7
National Association, as Primary Servicer

 33.8
National Association, as Primary Servicer of the Nvidia Santa Clara Mortgage
Loan (see Exhibit 33.7)

 33.9
of the Nvidia Santa Clara Mortgage Loan (see Exhibit 33.2)

 33.10
Computershare Trust Company, National Association, as Trustee of the Nvidia
Santa Clara Mortgage Loan (Omitted. See Explanatory Notes.)

 33.11
as Custodian of the Nvidia Santa Clara Mortgage Loan (see Exhibit 33.4)

 33.12
Advisor of the Nvidia Santa Clara Mortgage Loan (see Exhibit 33.5)

 33.13
Servicer of the McKesson Phase 2 Mortgage Loan (see Exhibit 33.1)

 33.14
CWCapital Asset Management LLC, as Special Servicer of the McKesson Phase 2

 33.15
Computershare Trust Company, National Association, as Trustee of the McKesson
Phase 2 Mortgage Loan (Omitted. See Explanatory Notes.)

 33.16
as Custodian of the McKesson Phase 2 Mortgage Loan (see Exhibit 33.4)

 33.17
of the McKesson Phase 2 Mortgage Loan

 33.18
Participant of the McKesson Phase 2 Mortgage Loan (see Exhibit 33.6)

 33.19
Servicer of the 1201 Third Avenue Mortgage Loan (see Exhibit 33.1)

 33.20
 LNR Partners, LLC, as Special Servicer of the 1201
Third Avenue Mortgage Loan

 33.21
Wilmington Trust, National Association, as Trustee of the 1201 Third Avenue

 33.22
as Custodian of the 1201 Third Avenue Mortgage Loan (see Exhibit 33.4)

 33.23
Advisor of the 1201 Third Avenue Mortgage Loan (see Exhibit 33.5)

 33.24
Participant of the 1201 Third Avenue Mortgage Loan (see Exhibit 33.6)

 33.25
National Association, as Primary Servicer of the 1825 K Street NW Mortgage Loan
(see Exhibit 33.7)

 33.26
 LNR Partners, LLC, as Special Servicer of the 1825
K Street NW Mortgage Loan (see Exhibit 33.20)

 33.27
Wilmington Trust, National Association, as Trustee of the 1825 K Street NW

 33.28
as Custodian of the 1825 K Street NW Mortgage Loan (see Exhibit 33.4)

 33.29
Advisor of the 1825 K Street NW Mortgage Loan (see Exhibit 33.5)

 33.30
Servicer of the 11 West 42nd Street Mortgage Loan (see Exhibit 33.1)

 33.31
Servicer of the 11 West 42nd Street Mortgage Loan

 33.32
Computershare Trust Company, National Association, as Trustee of the 11 West
42nd Street Mortgage Loan (Omitted. See Explanatory Notes.)

 33.33
 Computershare Trust Company, National Association, as
Custodian of the 11 West 42nd Street Mortgage Loan (see Exhibit 33.4)

 33.34
of the 11 West 42nd Street Mortgage Loan (see Exhibit 33.17)

 33.35
Participant of the 11 West 42nd Street Mortgage Loan (see Exhibit 33.6)

 33.36
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 33.1)

 33.37
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 33.31)

 33.38
Computershare Trust Company, National Association, as Trustee of the Short Pump
Town Center Mortgage Loan (Omitted. See Explanatory Notes.)

 33.39
as Custodian of the Short Pump Town Center Mortgage Loan (see Exhibit 33.4)

 33.40
of the Short Pump Town Center Mortgage Loan (see Exhibit 33.17)

 33.41
Participant of the Short Pump Town Center Mortgage Loan (see Exhibit 33.6)

 33.42
 KeyBank National Association, as Primary Servicer
of the Westfarms Mortgage Loan (see Exhibit 33.2)

 33.43
Servicer of the Westfarms Mortgage Loan (see Exhibit 33.31)

 33.44
Wilmington Trust, National Association, as Trustee of the Westfarms Mortgage
Loan (Omitted. See Explanatory Notes.)

 33.45
as Custodian of the Westfarms Mortgage Loan (see Exhibit 33.4)

 33.46
 BellOak, LLC, as Operating Advisor of the
Westfarms Mortgage Loan

 33.47
National Association, as Primary Servicer of the Merit Hill Self Storage
Mortgage Loan (see Exhibit 33.7)

 33.48
K-Star Asset Management LLC, as Special Servicer of the Merit Hill Self Storage

 33.49
Computershare Trust Company, National Association, as Trustee of the Merit Hill
Self Storage Mortgage Loan (Omitted. See Explanatory Notes.)

 33.50
as Custodian of the Merit Hill Self Storage Mortgage Loan (see Exhibit 33.4)

 33.51
Advisor of the Merit Hill Self Storage Mortgage Loan (see Exhibit 33.5)

 33.52
National Association, as Primary Servicer of the Philadelphia Marriott Downtown
Mortgage Loan (see Exhibit 33.7)

 33.53
 LNR Partners, LLC, as Special Servicer of the
Philadelphia Marriott Downtown Mortgage Loan (see Exhibit 33.20)

 33.54
Computershare Trust Company, National Association, as Trustee of the
Philadelphia Marriott Downtown Mortgage Loan (Omitted. See Explanatory Notes.)

 33.55
as Custodian of the Philadelphia Marriott Downtown Mortgage Loan (see Exhibit
33.4)

 33.56
Advisor of the Philadelphia Marriott Downtown Mortgage Loan (see Exhibit 33.5)

 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
as Trustee and Certificate Administrator

 34.4
as Custodian

 34.5
Advisor

 34.6
Participant

 34.7
National Association, as Primary Servicer

 34.8
National Association, as Primary Servicer of the Nvidia Santa Clara Mortgage
Loan (see Exhibit 34.7)

 34.9
 KeyBank National Association, as Special Servicer of
the Nvidia Santa Clara Mortgage Loan (see Exhibit 34.2)

 34.10
Computershare Trust Company, National Association, as Trustee of the Nvidia
Santa Clara Mortgage Loan (Omitted. See Explanatory Notes.)

 34.11
as Custodian of the Nvidia Santa Clara Mortgage Loan (see Exhibit 34.4)

 34.12
Advisor of the Nvidia Santa Clara Mortgage Loan (see Exhibit 34.5)

 34.13
Servicer of the McKesson Phase 2 Mortgage Loan (see Exhibit 34.1)

 34.14
CWCapital Asset Management LLC, as Special Servicer of the McKesson Phase 2

 34.15
Computershare Trust Company, National Association, as Trustee of the McKesson Phase
2 Mortgage Loan (Omitted. See Explanatory Notes.)

 34.16
as Custodian of the McKesson Phase 2 Mortgage Loan (see Exhibit 34.4)

 34.17
of the McKesson Phase 2 Mortgage Loan

 34.18
Participant of the McKesson Phase 2 Mortgage Loan (see Exhibit 34.6)

 34.19
Servicer of the 1201 Third Avenue Mortgage Loan (see Exhibit 34.1)

 34.20
 LNR Partners, LLC, as Special Servicer of the 1201
Third Avenue Mortgage Loan

 34.21
Wilmington Trust, National Association, as Trustee of the 1201 Third Avenue

 34.22
as Custodian of the 1201 Third Avenue Mortgage Loan (see Exhibit 34.4)

 34.23
Advisor of the 1201 Third Avenue Mortgage Loan (see Exhibit 34.5)

 34.24
Participant of the 1201 Third Avenue Mortgage Loan (see Exhibit 34.6)

 34.25
National Association, as Primary Servicer of the 1825 K Street NW Mortgage Loan
(see Exhibit 34.7)

 34.26
 LNR Partners, LLC, as Special Servicer of the 1825
K Street NW Mortgage Loan (see Exhibit 34.20)

 34.27
Wilmington Trust, National Association, as Trustee of the 1825 K Street NW

 34.28
as Custodian of the 1825 K Street NW Mortgage Loan (see Exhibit 34.4)

 34.29
Advisor of the 1825 K Street NW Mortgage Loan (see Exhibit 34.5)

 34.30
Servicer of the 11 West 42nd Street Mortgage Loan (see Exhibit 34.1)

 34.31
Servicer of the 11 West 42nd Street Mortgage Loan

 34.32
Computershare Trust Company, National Association, as Trustee of the 11 West
42nd Street Mortgage Loan (Omitted. See Explanatory Notes.)

 34.33
as Custodian of the 11 West 42nd Street Mortgage Loan (see Exhibit 34.4)

 34.34
of the 11 West 42nd Street Mortgage Loan (see Exhibit 34.17)

 34.35
Participant of the 11 West 42nd Street Mortgage Loan (see Exhibit 34.6)

 34.36
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 34.1)

 34.37
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 34.31)

 34.38
Computershare Trust Company, National Association, as Trustee of the Short Pump
Town Center Mortgage Loan (Omitted. See Explanatory Notes.)

 34.39
as Custodian of the Short Pump Town Center Mortgage Loan (see Exhibit 34.4)

 34.40
of the Short Pump Town Center Mortgage Loan (see Exhibit 34.17)

 34.41
Participant of the Short Pump Town Center Mortgage Loan (see Exhibit 34.6)

 34.42
 KeyBank National Association, as Primary Servicer
of the Westfarms Mortgage Loan (see Exhibit 34.2)

 34.43
 Greystone Servicing Company LLC, as Special Servicer
of the Westfarms Mortgage Loan (see Exhibit 34.31)

 34.44
Wilmington Trust, National Association, as Trustee of the Westfarms Mortgage
Loan (Omitted. See Explanatory Notes.)

 34.45
as Custodian of the Westfarms Mortgage Loan (see Exhibit 34.4)

 34.46
 BellOak, LLC, as Operating Advisor of the
Westfarms Mortgage Loan

 34.47
National Association, as Primary Servicer of the Merit Hill Self Storage
Mortgage Loan (see Exhibit 34.7)

 34.48
K-Star Asset Management LLC, as Special Servicer of the Merit Hill Self Storage

 34.49
Computershare Trust Company, National Association, as Trustee of the Merit Hill
Self Storage Mortgage Loan (Omitted. See Explanatory Notes.)

 34.50
as Custodian of the Merit Hill Self Storage Mortgage Loan (see Exhibit 34.4)

 34.51
Advisor of the Merit Hill Self Storage Mortgage Loan (see Exhibit 34.5)

 34.52
National Association, as Primary Servicer of the Philadelphia Marriott Downtown
Mortgage Loan (see Exhibit 34.7)

 34.53
 LNR Partners, LLC, as Special Servicer of the
Philadelphia Marriott Downtown Mortgage Loan (see Exhibit 34.20)

 34.54
Computershare Trust Company, National Association, as Trustee of the
Philadelphia Marriott Downtown Mortgage Loan (Omitted. See Explanatory Notes.)

 34.55
as Custodian of the Philadelphia Marriott Downtown Mortgage Loan (see Exhibit
34.4)

 34.56
Advisor of the Philadelphia Marriott Downtown Mortgage Loan (see Exhibit 34.5)

Servicer compliance statements.

 35.1
 Wells Fargo Bank, National Association, as Master
Servicer

 35.2

 35.3
as Certificate Administrator

 35.4
National Association, as Primary Servicer

 35.5
National Association, as Primary Servicer of the Nvidia Santa Clara Mortgage
Loan (see Exhibit 35.4)

 35.6
of the Nvidia Santa Clara Mortgage Loan (see Exhibit 35.2)

 35.7
Servicer of the McKesson Phase 2 Mortgage Loan (see Exhibit 35.1)

 35.8
CWCapital Asset Management LLC, as Special Servicer of the McKesson Phase 2

 35.9
Servicer of the 1201 Third Avenue Mortgage Loan (see Exhibit 35.1)

 35.10
LNR Partners, LLC, as Special Servicer of the 1201 Third Avenue Mortgage Loan
(Omitted. See Explanatory Notes.)

 35.11
National Association, as Primary Servicer of the 1825 K Street NW Mortgage Loan
(see Exhibit 35.4)

 35.12
LNR Partners, LLC, as Special Servicer of the 1825 K Street NW Mortgage Loan
(Omitted. See Explanatory Notes.)

 35.13
Servicer of the 11 West 42nd Street Mortgage Loan (see Exhibit 35.1)

 35.14
Servicer of the 11 West 42nd Street Mortgage Loan

 35.15
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 35.1)

 35.16
Servicer of the Short Pump Town Center Mortgage Loan (see Exhibit 35.14)

 35.17
 KeyBank National Association, as Primary Servicer
of the Westfarms Mortgage Loan (see Exhibit 35.2)

 35.18
Servicer of the Westfarms Mortgage Loan (see Exhibit 35.14)

 35.19
National Association, as Primary Servicer of the Merit Hill Self Storage
Mortgage Loan (see Exhibit 35.4)

 35.20
K-Star Asset Management LLC, as Special Servicer of the Merit Hill Self Storage

 35.21
National Association, as Primary Servicer of the Philadelphia Marriott Downtown
Mortgage Loan (see Exhibit 35.4)

 35.22
LNR Partners, LLC, as Special Servicer of the Philadelphia Marriott Downtown

 99.1
 Mortgage Loan Purchase Agreement, dated as of November 30,
2023, 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 December 4, 2023 under Commission File No.
333-257991-08 and incorporated by reference herein).

 99.2
 Mortgage Loan Purchase Agreement, dated as of November
30, 2023, between Morgan Stanley Mortgage Capital Holdings LLC and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.2 to the registrant's
Current Report on Form 8-K filed on December 4, 2023 under Commission File No.
333-257991-08 and incorporated by reference herein).

 99.3
 Mortgage Loan Purchase Agreement, dated as of November
30, 2023, between Bank of America, National Association and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.3 to the registrant's
Current Report on Form 8-K filed on December 4, 2023 under Commission File No.
333-257991-08 and incorporated by reference herein).

 99.4
 Mortgage Loan Purchase Agreement, dated as of November
30, 2023, between JPMorgan Chase Bank, National Association and Wells Fargo
Commercial Mortgage Securities, Inc. (filed as Exhibit 99.4 to the registrant's
Current Report on Form 8-K filed on December 4, 2023 under Commission File No.
333-257991-08 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.

 Wells Fargo Commercial Mortgage
Securities, Inc.

(Depositor)

 /s/ Anthony
Sfarra

 Anthony
Sfarra, President

 (senior officer in charge of
securitization of the depositor)

 Date: March 13, 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: 333-195164-16

 Central Index Key Number of the issuing entity:
0001656681

 Wells Fargo Commercial Mortgage
Trust 2015-NXS4

 (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: 0001542256

 Natixis Real Estate Capital LLC

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

 Central Index Key Number of the sponsor: 0001624053

 Argentic Real Estate Finance LLC

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

 (formerly known as
Silverpeak Real Estate Finance LLC)

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-3984618

 38-3984619

 38-3984620

 38-7143659

 (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:

 (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 Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the Yosemite Resorts Mortgage Loan, which
constituted approximately 2.4% of the asset pool of the issuing entity as of
its cut-off date. The Yosemite Resorts Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the Yosemite
Resorts Mortgage Loan and one other pari passu loan, which is not an
asset of the issuing entity. The other pari passu portion of the loan
combination was securitized in the Wells Fargo Commercial Mortgage Trust
2015-NXS3 transaction, Commission File Number 333-195164-14 (the " WFCMT
2015-NXS3 Transaction "). This loan combination, including the Yosemite
Resorts Mortgage Loan, is being serviced and administered pursuant to the
pooling and servicing agreement for the WFCMT 2015-NXS3 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 CityPlace I Mortgage Loan, which constituted
approximately 4.4% of the asset pool of the issuing entity as of its cut-off
date. The CityPlace I Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the CityPlace I Mortgage Loan and
one other pari passu loan, which is not an asset of the issuing entity.
The other pari passu portion of the loan combination was securitized in
the Wells Fargo Commercial Mortgage Trust 2015-C31 transaction, Commission File
Number 333-195164-15 (the " WFCMT 2015-C31 Transaction "). This loan
combination, including the CityPlace I Mortgage Loan, is being serviced and
administered pursuant to the pooling and servicing agreement for the WFCMT
2015-C31 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 CityPlace I Mortgage Loan and the Yosemite Resorts
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 CityPlace I Mortgage Loan and the Yosemite Resorts
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
trust advisor of the mortgage loans serviced under the Pooling and Servicing
Agreement and the Yosemite Resorts 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.

 Wilmington Trust, National
Association acts as trustee of the mortgage loans serviced under the
Pooling and Servicing Agreement, the Yosemite Resorts Mortgage Loan and the
CityPlace I Mortgage Loan. Pursuant to the Pooling and Servicing
Agreement, the pooling and servicing agreement for the WFCMT 2015-NXS3
Transaction and the pooling and servicing agreement for the WFCMT 2015-C31
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 Yosemite Resorts Mortgage Loan and the CityPlace I 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 Yosemite Resorts Mortgage Loan and
the CityPlace I 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 Yosemite Resorts Mortgage Loan and the CityPlace I
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 Yosemite Resorts Mortgage Loan and the
CityPlace I Mortgage Loan, (i) the reports on assessment of compliance with
servicing criteria and attestation reports on assessment of compliance with
servicing criteria of LNR Partners, LLC as special servicer of the Yosemite
Resorts Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National
Association as special servicer of the CityPlace I Mortgage Loan and BellOak,
LLC as trust advisor of the CityPlace I Mortgage Loan, listed on the Exhibit
Index are omitted from this Annual Report on Form 10-K as they are not required
to be included on this Annual Report on Form 10-K per Instruction 3 to Item
1122 of Regulation AB because they are parties performing activities that
address servicing criteria relating to 5% or less of the assets of the issuing
entity; and (ii) the servicer compliance statements of LNR Partners, LLC as
special servicer of the Yosemite Resorts Mortgage Loan and Midland Loan
Services, a Division of PNC Bank, National Association as special servicer of
the CityPlace I Mortgage Loan, listed on the Exhibit Index are omitted from
this Annual Report on Form 10-K as they are not required by Item 1123 of
Regulation AB to be included on this Annual Report on Form 10-K because they
are each an unaffiliated party that is not a "servicer" that meets the criteria
in Item 1108(a)(2)(i) through (iii) of Regulation AB.

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

 None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

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

 Item 6.

 [Reserved]

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

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

 Item 8. Financial Statements and Supplementary Data.

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

 Item 9A. Controls and Procedures.

 Item 9B. Other Information.

 None.

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

 None.

 Item 10. Directors, Executive Officers and Corporate
Governance.

 Item 11. Executive Compensation.

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

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

 Item 14. Principal Accountant Fees and Services.

 ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

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

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

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

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

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

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

 Item 1117 of Regulation AB, Legal Proceedings.

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

 In December 2014, Phoenix Light SF
Limited (Phoenix Light) and certain related entities filed a complaint in the
United States District Court for the Southern District of New York alleging
claims against Wells Fargo Bank, N.A., in its capacity as trustee for a number
of residential mortgage-backed securities (RMBS) trusts. Complaints raising
similar allegations have been filed by Commerzbank AG in the Southern District
of New York, IKB International and IKB Deutsche Industriebank (together, IKB)
in New York state court, and Park Royal I LLC and Park Royal II LLC in New York
state court. In each case, the plaintiffs allege that Wells Fargo Bank, N.A.,
as trustee, caused losses to investors, and plaintiffs assert causes of action
based upon, among other things, the trustee's alleged failure to notify and
enforce repurchase obligations of mortgage loan sellers for purported breaches
of representations and warranties, notify investors of alleged events of
default, and abide by appropriate standards of care following alleged events of
default. In July 2022, the district court dismissed Phoenix Light's claims and
certain of the claims asserted by Commerzbank AG, and subsequently entered
judgment in each case in favor of Wells Fargo Bank, N.A. In August 2022,
Phoenix Light and Commerzbank AG each appealed the district court's decision to
the United States Court of Appeals for the Second Circuit. Phoenix Light
dismissed its appeal in May 2023, terminating its case. In 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 December 9, 2015 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 Schedule
III 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 Yosemite Resorts Mortgage Loan,
which is being serviced and administered pursuant to the pooling and servicing
agreement for the WFCMT 2015-NXS3 Transaction, are attached hereto under Item
15 to this Annual Report on Form 10-K. Attached as Schedule III to the pooling
and servicing agreement for the WFCMT 2015-NXS3 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 WFCMT
2015-NXS3 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 CityPlace I Mortgage Loan, which
is being serviced and administered pursuant to the pooling and servicing agreement
for the WFCMT 2015-C31 Transaction, are attached hereto under Item 15 to this
Annual Report on Form 10-K. Attached as Schedule III to the pooling and
servicing agreement for the WFCMT 2015-C31 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 WFCMT
2015-C31 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 December 1, 2015, by and among Wells Fargo
Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Rialto Capital Advisors, LLC, as Special
Servicer, Pentalpha Surveillance LLC, as Trust Advisor, Wells Fargo Bank,
National Association, as Certificate Administrator, as Tax Administrator and as
Custodian, and Wilmington Trust, National Association, as Trustee (filed as
Exhibit 4.1 to the registrant's Current Report on Form 8-K/A filed on December
24, 2015 under Commission File No. 333-195164-16 and incorporated by reference
herein).

 4.2
 Pooling
and Servicing Agreement, dated as of October 1, 2015, by and among Wells Fargo
Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, National
Association, as General Master Servicer, LNR Partners, LLC, as General Special
Servicer, National Cooperative Bank, N.A., as NCB Master Servicer, National
Cooperative Bank, N.A., as NCB Special Servicer, Midland Loan Services, a
Division of PNC Bank, National Association, as One Court Square Special
Servicer, Pentalpha Surveillance LLC, as Trust Advisor, Wells Fargo Bank,
National Association, as Certificate Administrator, as Tax Administrator and as
Custodian, and Wilmington Trust, National Association, as Trustee (filed as
Exhibit 99.4 to the registrant's Current Report on Form 8-K filed on December
9, 2015 under Commission File No. 333-195164-16 and incorporated by reference
herein).

 4.3
 Pooling
and Servicing Agreement, dated as of November 1, 2015, by and among Wells Fargo
Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank,
National Association, as Special Servicer, TriMont Real Estate Advisors, LLC,
as Trust Advisor, Wells Fargo Bank, National Association, as Certificate
Administrator, as Tax Administrator and as Custodian, and Wilmington Trust,
National Association, as Trustee (filed as Exhibit 99.5 to the registrant's
Current Report on Form 8-K filed on December 9, 2015 under Commission File No.
333-195164-16 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
 Rialto Capital Advisors, LLC, as Special Servicer

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

 33.4
Certificate Administrator

 33.5
Custodian

 33.6
 Pentalpha Surveillance LLC, as Trust Advisor

 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 Yosemite Resorts Mortgage Loan (see Exhibit 33.1)

 33.11
LNR Partners, LLC, as Special Servicer of the Yosemite Resorts Mortgage Loan
(Omitted. See Explanatory Notes.)

 33.12
Wilmington Trust, National Association, as Trustee of the Yosemite Resorts
Mortgage Loan (Omitted. See Explanatory Notes.)

 33.13
Custodian of the Yosemite Resorts Mortgage Loan (see Exhibit 33.5)

 33.14
 Pentalpha Surveillance LLC, as Trust Advisor of the
Yosemite Resorts Mortgage Loan (see Exhibit 33.6)

 33.15
Participant of the Yosemite Resorts Mortgage Loan (see Exhibit 33.7)

 33.16
as Servicing Function Participant for the Custodian (see Exhibit 33.9)

 33.17
Servicer of the CityPlace I Mortgage Loan (see Exhibit 33.1)

 33.18
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the CityPlace I Mortgage Loan (Omitted. See Explanatory Notes.)

 33.19
Wilmington Trust, National Association, as Trustee of the CityPlace I Mortgage
Loan (Omitted. See Explanatory Notes.)

 33.20
Custodian of the CityPlace I Mortgage Loan (see Exhibit 33.5)

 33.21
BellOak, LLC, as Trust Advisor of the CityPlace I Mortgage Loan (Omitted. See
Explanatory Notes.)

 33.22
Participant of the CityPlace I Mortgage Loan (see Exhibit 33.7)

 33.23
as Servicing Function Participant for the Custodian (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 Master
Servicer

 34.2
 Rialto Capital Advisors, LLC, as Special Servicer

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

 34.4
Certificate Administrator

 34.5
Custodian

 34.6
 Pentalpha Surveillance LLC, as Trust Advisor

 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 Yosemite Resorts Mortgage Loan (see Exhibit 34.1)

 34.11
LNR Partners, LLC, as Special Servicer of the Yosemite Resorts Mortgage Loan
(Omitted. See Explanatory Notes.)

 34.12
Wilmington Trust, National Association, as Trustee of the Yosemite Resorts
Mortgage Loan (Omitted. See Explanatory Notes.)

 34.13
Custodian of the Yosemite Resorts Mortgage Loan (see Exhibit 34.5)

 34.14
 Pentalpha Surveillance LLC, as Trust Advisor of the
Yosemite Resorts Mortgage Loan (see Exhibit 34.6)

 34.15
Participant of the Yosemite Resorts Mortgage Loan (see Exhibit 34.7)

 34.16
as Servicing Function Participant for the Custodian (see Exhibit 34.9)

 34.17
 Wells Fargo Bank, National Association, as Primary Servicer
of the CityPlace I Mortgage Loan (see Exhibit 34.1)

 34.18
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the CityPlace I Mortgage Loan (Omitted. See Explanatory Notes.)

 34.19
Wilmington Trust, National Association, as Trustee of the CityPlace I Mortgage
Loan (Omitted. See Explanatory Notes.)

 34.20
Custodian of the CityPlace I Mortgage Loan (see Exhibit 34.5)

 34.21
BellOak, LLC, as Trust Advisor of the CityPlace I Mortgage Loan (Omitted. See
Explanatory Notes.)

 34.22
Participant of the CityPlace I Mortgage Loan (see Exhibit 34.7)

 34.23
as Servicing Function Participant for the Custodian (see Exhibit 34.9)

Servicer compliance statements.

 35.1
 Wells Fargo Bank, National Association, as Master
Servicer

 35.2
 Rialto Capital Advisors, LLC, as Special Servicer

 35.3
Certificate Administrator

 35.4
as Servicing Function Participant for the Certificate Administrator

 35.5
Servicer of the Yosemite Resorts Mortgage Loan (see Exhibit 35.1)

 35.6
LNR Partners, LLC, as Special Servicer of the Yosemite Resorts Mortgage Loan
(Omitted. See Explanatory Notes.)

 35.7
Servicer of the CityPlace I Mortgage Loan (see Exhibit 35.1)

 35.8
Midland Loan Services, a Division of PNC Bank, National Association, as Special
Servicer of the CityPlace I Mortgage Loan (Omitted. See Explanatory Notes.)

 99.1
 Mortgage
Loan Purchase Agreement, dated as of November 19, 2015, between Wells Fargo
Commercial Mortgage Securities, Inc. and Wells Fargo Bank, National Association
(filed as Exhibit 99.1 to the registrant's Current Report on Form 8-K/A filed
on December 24, 2015 under Commission File No. 333-195164-16 and incorporated
by reference herein)

 99.2
 Mortgage
Loan Purchase Agreement, dated as of November 19, 2015, between Wells Fargo
Commercial Mortgage Securities, Inc. and Natixis Real Estate Capital LLC (filed
as Exhibit 99.2 to the registrant's Current Report on Form 8-K/A filed on
December 24, 2015 under Commission File No. 333-195164-16 and incorporated by
reference herein)

 99.3
 Mortgage
Loan Purchase Agreement, dated as of November 19, 2015, between Wells Fargo
Commercial Mortgage Securities, Inc. and Silverpeak Real Estate Finance LLC
(filed as Exhibit 99.3 to the registrant's Current Report on Form 8-K/A filed
on December 24, 2015 under Commission File No. 333-195164-16 and incorporated
by reference herein)

 99.4
 Agreement
Between Note Holders, dated as of September 10, 2015, 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 99.8
to the registrant's Current Report on Form 8-K filed on December 9, 2015 under
Commission File No. 333-195164-16 and incorporated by reference herein).

 99.5
 Co-Lender
Agreement, dated as of October 13, 2015, between Natixis Real Estate Capital
LLC, as Note A-1 Holder, and Natixis Real Estate Capital LLC, as Note A-2
Holder (filed as Exhibit 99.9 to the registrant's Current Report on Form 8-K
filed on December 9, 2015 under Commission File No. 333-195164-16 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.

 Wells Fargo Commercial Mortgage Securities,
Inc.

(Depositor)

 /s/ Anthony
Sfarra

 Anthony
Sfarra, President

 (senior officer in charge of
securitization of the depositor)

 Date: March 13, 2024