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: 333-206705-01

 Central Index Key Number of the issuing entity:
0001663239

 COMM 2016-CCRE28 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: 0001558761

 Cantor Commercial Real Estate
Lending, L.P.

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

 Central Index Key Number of the sponsor: 0001555524

 LoanCore Capital Markets LLC

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

 (formerly known as Jefferies LoanCore LLC)

 Central Index Key Number of the sponsor: 0001541468

 Ladder Capital Finance LLC

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

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-3984705

 38-3984706

 38-7145079

 (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 Promenade Gateway Mortgage Loan, the AG
Life Time Fitness Portfolio Mortgage Loan and the Hyatt Regency St. Louis at
The Arch Mortgage Loan, which constituted approximately 5.8%, 5.8% and 5.4%,
respectively, of the asset pool of the issuing entity as of its cut-off date,
are each an asset of the issuing entity and are each part of a loan combination
that includes (a) with respect to the Promenade Gateway Mortgage Loan, one
other pari passu loan, which is not an asset of the issuing entity, (b) with
respect to the AG Life Time Fitness Portfolio Mortgage Loan, three other pari
passu loans, which are not assets of the issuing entity and (c) with
respect to the Hyatt Regency St. Louis at The Arch Mortgage Loan, one other pari
passu loan, which is not an asset of the issuing entity. These loan
combinations, including the Promenade Gateway Mortgage Loan, the AG Life Time
Fitness Portfolio Mortgage Loan and the Hyatt Regency St. Louis at The Arch
Mortgage Loan, are being serviced and administered pursuant to the Pooling and
Servicing Agreement, which is incorporated by reference as Exhibit 4.1 to this
Annual Report on Form 10-K. The Santa Monica Multifamily Portfolio Mortgage
Loan, previously an asset of the issuing entity being serviced under the Pooling
and Servicing Agreement, was not an asset of the issuing entity during the
reporting period and is omitted from this Annual Report on Form 10-K and will
be omitted from subsequent Annual Reports on Form 10-K.

 The Equity Inns Portfolio Mortgage
Loan, previously an asset of the issuing entity, was not an asset of the
issuing entity during the reporting period and is omitted from this Annual
Report on Form 10-K and will be omitted from subsequent Annual Reports 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 32 Avenue of the Americas Mortgage Loan, which
constituted approximately 5.6% of the asset pool of the issuing entity as of
its cut-off date. The 32 Avenue of the Americas Mortgage Loan is an asset
of the issuing entity and is part of a loan combination that includes the 32
Avenue of the Americas Mortgage Loan and four other pari passu loans,
which are not assets of the issuing entity. A pari passu portion of the
loan combination was securitized in the JPMBB Commercial Mortgage Securities
Trust 2015-C33 transaction, Commission File Number 333-190246-18 (the " JPMBB
2015-C33 Transaction "). This loan combination, including the 32 Avenue of
the Americas Mortgage Loan, is being serviced and administered pursuant to the
pooling and servicing agreement for the JPMBB 2015-C33 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 Element LA Mortgage Loan, which constituted
approximately 2.8% of the asset pool of the issuing entity as of its cut-off
date. The Element LA Mortgage Loan is an asset of the issuing entity and
is part of a loan combination that includes the Element LA 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 CFCRE 2016-C3 Mortgage Trust transaction, Commission File Number
333-207567-01 (the " CFCRE 2016-C3 Transaction "). This loan combination,
including the Element LA Mortgage Loan, is being serviced and administered
pursuant to the pooling and servicing agreement for the CFCRE 2016-C3
Transaction, which is incorporated by reference as Exhibit 4.3 to this Annual
Report on Form 10-K.

 The Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the FedEx Brooklyn Mortgage Loan, which
constituted approximately 4.2% of the asset pool of the issuing entity as of
its cut-off date. The FedEx Brooklyn Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the FedEx
Brooklyn 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 CSAIL 2016-C5 Commercial Mortgage Trust
transaction, Commission File Number 333-207361-01 (the " CSAIL 2016-C5
Transaction "). This loan combination, including the FedEx Brooklyn Mortgage
Loan, is being serviced and administered pursuant to the pooling and servicing
agreement for the CSAIL 2016-C5 Transaction, which is incorporated by reference
as Exhibit 4.4 to this Annual Report on Form 10-K.

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

 Wells Fargo Bank, National
Association is the master servicer and certificate administrator of the
mortgage loans serviced under the Pooling and Servicing Agreement and the
primary servicer of the 32 Avenue of the Americas 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 32 Avenue of the Americas Mortgage Loan, the FedEx
Brooklyn Mortgage Loan and the Element LA 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.

 CWCapital Asset Management LLC is
the special servicer of the mortgage loans serviced under the Pooling and
Servicing Agreement, the 32 Avenue of the Americas Mortgage Loan and the
Element LA Mortgage Loan. As a result, CWCapital Asset Management 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 CWCapital Asset Management LLC 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 and the Element LA 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 32 Avenue of the Americas Mortgage Loan and the FedEx
Brooklyn 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.

 Berkeley Point Capital LLC d/b/a
Newmark is an affiliate of Cantor Commercial Real Estate Lending, L.P., one of
the sponsors. Therefore, the Depositor included in this Annual Report on
Form 10-K a servicer compliance statement for Berkeley Point Capital LLC d/b/a
Newmark pursuant to Item 1123. Because Berkeley Point Capital LLC d/b/a
Newmark is servicing less than 5% of the pool assets, an assessment of
compliance with applicable servicing criteria and an accountants' attestation
report pursuant to Item 1122 of Regulation AB are not required by Regulation
AB. As the attestation made in the servicer compliance statement required
by Item 1123 relates to a review of the servicing activities of Berkeley Point
Capital LLC d/b/a Newmark under the applicable servicing agreement, and that
review was conducted in conjunction with the servicer's preparation of its
assessment of compliance with applicable servicing criteria, that assessment of
compliance with applicable servicing criteria and the accompanying accountants'
attestation report are included in this Annual Report on Form 10-K for the sake
of completeness.

 Wells Fargo Bank, National
Association acts as trustee of the FedEx Brooklyn Mortgage Loan. Pursuant
to the pooling and servicing agreement for the CSAIL 2016-C5 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 FedEx Brooklyn 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 mortgage loans serviced under the Pooling
and Servicing Agreement, the 32 Avenue of the Americas Mortgage Loan and the
Element LA Mortgage Loan. Pursuant to the Pooling and Servicing Agreement,
the pooling and servicing agreement for the JPMBB 2015-C33 Transaction and the
pooling and servicing agreement for the CFCRE 2016-C3 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 32 Avenue of the Americas Mortgage
Loan and the Element LA 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 (except with respect to those mortgage loans
for which Berkeley Point Capital LLC d/b/a Newmark is the primary servicer) and
the primary servicer of the 32 Avenue of the Americas 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 32 Avenue of the Americas Mortgage Loan, the Element LA
Mortgage Loan and the FedEx Brooklyn 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 FedEx Brooklyn Mortgage Loan, (i) the
reports on assessment of compliance with servicing criteria and attestation
reports on assessment of compliance with servicing criteria of KeyBank National
Association as primary servicer of the FedEx Brooklyn Mortgage Loan and Rialto
Capital Advisors, LLC as special servicer of the FedEx Brooklyn 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 KeyBank
National Association as primary servicer of the FedEx Brooklyn Mortgage Loan
and Rialto Capital Advisors, LLC as special servicer of the FedEx Brooklyn
Mortgage Loan, listed on the Exhibit Index are omitted from this Annual Report
on Form 10-K as they are not required by Item 1123 of Regulation AB to be
included on this Annual Report on Form 10-K because they are each an
unaffiliated party that is not a "servicer" that meets the criteria in Item
1108(a)(2)(i) through (iii) of Regulation AB.

 Item 1. Business.

 Item 1A. Risk Factors.

 Item 1B. Unresolved Staff Comments.

 None.

 Item 1C. Cybersecurity.

 Item 2. Properties.

 Item 3. Legal Proceedings.

 Item 4. Mine Safety Disclosures.

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

 Item 6.

 [Reserved].

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

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

 Item 8. Financial Statements and Supplementary Data.

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

 Item 9A. Controls and Procedures.

 Item 9B. Other Information.

 None.

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

 None.

 Item 10. Directors, Executive Officers and Corporate
Governance.

 Item 11. Executive Compensation.

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

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

 Item 14. Principal Accountant Fees and Services.

 ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB

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

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

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

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

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

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

 Item 1117 of Regulation AB, Legal Proceedings.

 The registrant knows of no material pending legal proceeding
involving the trust or any party related to the trust, other than routine
litigation incidental to the duties of those respective parties, and the
following, with respect to Wells Fargo Bank, National Association, as trustee,
as certificate administrator 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 10, 2016 pursuant to Rule 424(b)(2).

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

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the mortgage loans are attached
hereto under Item 15 to this Annual Report on Form 10-K. Attached as 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).

 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 32 Avenue of the Americas
Mortgage Loan, which is being serviced and administered pursuant to the pooling
and servicing agreement for the JPMBB 2015-C33 Transaction, are attached hereto
under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AA to the
pooling and servicing agreement for the JPMBB 2015-C33 Transaction incorporated
by reference as Exhibit 4.2 to this Annual Report on Form 10-K is a chart
identifying the entities participating in a servicing function for the JPMBB
2015-C33 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 Element LA Mortgage Loan, which
is being serviced and administered pursuant to the pooling and servicing
agreement for the CFCRE 2016-C3 Transaction, are attached hereto under Item 15
to this Annual Report on Form 10-K. Attached as Schedule II to the pooling and
servicing agreement for the CFCRE 2016-C3 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 CFCRE 2016-C3
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 FedEx Brooklyn Mortgage Loan,
which is being serviced and administered pursuant to the pooling and servicing
agreement for the CSAIL 2016-C5 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 CSAIL 2016-C5 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 CSAIL 2016-C5
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,
2016, by and among Deutsche Mortgage & Asset Receiving Corporation, as
Depositor, Wells Fargo Bank, National Association, as Master Servicer, Midland Loan
Services, a Division of PNC Bank, National Association, as Special Servicer,
Wilmington Trust, 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 Asset Representations
Reviewer (filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K/A
filed on March 31, 2016 under Commission File No. 333-206705-01 and

 4.2
 Pooling and Servicing Agreement, dated as of November 1,
2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., as
Depositor, Wells Fargo Bank, National Association, as Master Servicer,
Torchlight Loan Services, LLC, as Special Servicer, Wells Fargo Bank, National
Association, as Certificate Administrator, Wilmington Trust, National
Association, as Trustee, and Pentalpha Surveillance LLC, as Senior Trust
Advisor (filed as Exhibit 4.2 to the registrant's Current Report on Form 8-K
filed on February 10, 2016 under Commission File No. 333-206705-01 and

 4.3
 Pooling and Servicing Agreement, dated as of January 1,
2016, by and among CCRE Commercial Mortgage Securities, L.P., as Depositor,
Wells Fargo Bank, National Association, as Master Servicer, CWCapital Asset
Management LLC, as Special Servicer, Wilmington Trust, 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 Asset Representations Reviewer (filed as Exhibit 4.1 to the
registrant's Current Report on Form 8-K/A filed on February 19, 2016 under
Commission File No. 333-206705-01 and incorporated by reference herein).

 4.4
 Pooling and Servicing Agreement, dated as of February 1,
2016, by and among Credit Suisse Commercial Mortgage Securities Corp., as
Depositor, KeyBank National Association, as Master Servicer, Rialto Capital
Advisors, LLC, as Special Servicer, Wells Fargo Bank, National Association, as
Certificate Administrator and Trustee, and Pentalpha Surveillance LLC, as Operating
Advisor and Asset Representations Reviewer (filed as Exhibit 4.2 to the
registrant's Current Report on Form 8-K/A filed on March 31, 2016 under
Commission File No. 333-206705-01 and incorporated by reference herein).

 4.5
 Co-Lender Agreement, dated as of February 10, 2016,
between German American Capital Corporation, as Note A-1 Holder, and German
American Capital Corporation, as Note A-2 Holder (filed as Exhibit 4.6 to the
registrant's Current Report on Form 8-K filed on February 10, 2016 under
Commission File No. 333-206705-01 and incorporated by reference herein).

 4.6
 Co-Lender Agreement, dated as of January 28, 2016,
between Cantor Commercial Real Estate Lending, L.P., as Note A-1 Holder, Cantor
Commercial Real Estate Lending, L.P., as Note A-2 Holder, Cantor Commercial
Real Estate Lending, L.P., as Note A-3 Holder and Cantor Commercial Real Estate
Lending, L.P., as Note A-4 Holder (filed as Exhibit 4.7 to the registrant's
Current Report on Form 8-K filed on February 10, 2016 under Commission File No.
333-206705-01 and incorporated by reference herein).

 4.7
 Co-Lender Agreement, dated as of December 4, 2015,
between Jefferies LoanCore LLC, as Note A-1 Holder, and Jefferies LoanCore LLC,
as Note A-2 Holder (filed as Exhibit 4.8 to the registrant's Current Report on
Form 8-K filed on February 10, 2016 under Commission File No. 333-206705-01 and

 4.8
 Co-Lender Agreement, dated as of February 10, 2016,
between Cantor Commercial Real Estate Lending, L.P., as Note A-1 Holder, and
Cantor Commercial Real Estate Lending, L.P., as Note A-2 Holder (filed as
Exhibit 4.10 to the registrant's Current Report on Form 8-K filed on February
10, 2016 under Commission File No. 333-206705-01 and incorporated by reference
herein).

 4.9 Co-Lender Agreement, dated as of November 17, 2015,
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, German American Capital
Corporation, as Initial Note A-4 Holder, and German American Capital
Corporation, as Initial Note A-5 Holder (filed as Exhibit 4.9 to the
registrant's Current Report on Form 8-K filed on February 10, 2016 under
Commission File No. 333-206705-01 and incorporated by reference herein).

 4.10 Co-Lender Agreement, dated as of October 9, 2015, between
Cantor Commercial Real Estate Lending, L.P., as Note A-1A Holder, Cantor
Commercial Real Estate Lending, L.P., as Note A-1B Holder, Goldman Sachs
Mortgage Company, as Note A-2A Holder, and Goldman Sachs Mortgage Company, as
Note A-2B Holder (filed as Exhibit 4.14 to the registrant's Current Report on
Form 8-K filed on February 10, 2016 under Commission File No. 333-206705-01 and

 4.11 Co-Lender Agreement, dated as of February 9, 2016,
between Jefferies LoanCore LLC, as Note A-1 Holder, and Jefferies LoanCore LLC,
as Note A-2 Holder (filed as Exhibit 4.11 to the registrant's Current Report on
Form 8-K filed on February 10, 2016 under Commission File No. 333-206705-01 and

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

 33.4
Certificate Administrator

 33.5
Custodian

 33.6
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 Promenade Gateway Mortgage Loan (see Exhibit 33.1)

 33.11
of the Promenade Gateway Mortgage Loan (see Exhibit 33.2)

 33.12
Wilmington Trust, National Association, as Trustee of the Promenade Gateway

 33.13
Custodian of the Promenade Gateway Mortgage Loan (see Exhibit 33.5)

 33.14
Advisor of the Promenade Gateway Mortgage Loan (see Exhibit 33.6)

 33.15
Participant of the Promenade Gateway Mortgage Loan (see Exhibit 33.7)

 33.16

 33.17
Servicer of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 33.1)

 33.18
of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 33.2)

 33.19
Wilmington Trust, National Association, as Trustee of the AG Life Time Fitness
Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)

 33.20
Custodian of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit
33.5)

 33.21
Advisor of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 33.6)

 33.22
Participant of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit
33.7)

 33.23

 33.24
Servicer of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit
33.1)

 33.25
of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit 33.2)

 33.26
Wilmington Trust, National Association, as Trustee of the Hyatt Regency St.
Louis at The Arch Mortgage Loan (Omitted. See Explanatory Notes.)

 33.27
 Wells Fargo Bank, National Association, as Custodian
of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit 33.5)

 33.28
Advisor of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit
33.6)

 33.29
Participant of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see
Exhibit 33.7)

 33.30

 33.31
Servicer of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 33.1)

 33.32
of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 33.2)

 33.33
Wilmington Trust, National Association, as Trustee of the 32 Avenue of the
Americas Mortgage Loan (Omitted. See Explanatory Notes.)

 33.34
Custodian of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 33.5)

 33.35
 Pentalpha Surveillance LLC, as Senior Trust
Advisor of the 32 Avenue of the Americas Mortgage Loan

 33.36
 CoreLogic Solutions, LLC, as Servicing Function Participant
of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 33.7)

 33.37

 33.38
 Berkeley Point Capital LLC d/b/a Newmark, as
Primary Servicer of the Element LA Mortgage Loan

 33.39
of the Element LA Mortgage Loan (see Exhibit 33.2)

 33.40
Wilmington Trust, National Association, as Trustee of the Element LA Mortgage
Loan (Omitted. See Explanatory Notes.)

 33.41
Custodian of the Element LA Mortgage Loan (see Exhibit 33.5)

 33.42
Advisor of the Element LA Mortgage Loan (see Exhibit 33.6)

 33.43

 33.44
KeyBank National Association, as Primary Servicer of the FedEx Brooklyn

 33.45
Rialto Capital Advisors, LLC, as Special Servicer of the FedEx Brooklyn

 33.46
Wells Fargo Bank, National Association, as Trustee of the FedEx Brooklyn

 33.47
Custodian of the FedEx Brooklyn Mortgage Loan (see Exhibit 33.5)

 33.48
 Pentalpha Surveillance LLC, as Operating Advisor
of the FedEx Brooklyn Mortgage Loan (see Exhibit 33.35)

 33.49

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

 34.4
Certificate Administrator

 34.5
Custodian

 34.6
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 Promenade Gateway Mortgage Loan (see Exhibit 34.1)

 34.11
of the Promenade Gateway Mortgage Loan (see Exhibit 34.2)

 34.12
Wilmington Trust, National Association, as Trustee of the Promenade Gateway

 34.13
Custodian of the Promenade Gateway Mortgage Loan (see Exhibit 34.5)

 34.14
Advisor of the Promenade Gateway Mortgage Loan (see Exhibit 34.6)

 34.15
Participant of the Promenade Gateway Mortgage Loan (see Exhibit 34.7)

 34.16

 34.17
 Wells Fargo Bank, National Association, as Primary Servicer
of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 34.1)

 34.18
of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 34.2)

 34.19
Wilmington Trust, National Association, as Trustee of the AG Life Time Fitness
Portfolio Mortgage Loan (Omitted. See Explanatory Notes.)

 34.20
Custodian of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit
34.5)

 34.21
 Park Bridge Lender Services LLC, as Operating Advisor
of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 34.6)

 34.22
Participant of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit
34.7)

 34.23

 34.24
Servicer of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit
34.1)

 34.25
of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit 34.2)

 34.26
Wilmington Trust, National Association, as Trustee of the Hyatt Regency St.
Louis at The Arch Mortgage Loan (Omitted. See Explanatory Notes.)

 34.27
Custodian of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit
34.5)

 34.28
 Park Bridge Lender Services LLC, as Operating Advisor
of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit 34.6)

 34.29
Participant of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see
Exhibit 34.7)

 34.30

 34.31
Servicer of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 34.1)

 34.32
of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 34.2)

 34.33
Wilmington Trust, National Association, as Trustee of the 32 Avenue of the
Americas Mortgage Loan (Omitted. See Explanatory Notes.)

 34.34
Custodian of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 34.5)

 34.35
 Pentalpha Surveillance LLC, as Senior Trust
Advisor of the 32 Avenue of the Americas Mortgage Loan

 34.36
Participant of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 34.7)

 34.37

 34.38
 Berkeley Point Capital LLC d/b/a Newmark, as
Primary Servicer of the Element LA Mortgage Loan

 34.39
of the Element LA Mortgage Loan (see Exhibit 34.2)

 34.40
Wilmington Trust, National Association, as Trustee of the Element LA Mortgage
Loan (Omitted. See Explanatory Notes.)

 34.41
 Wells Fargo Bank, National Association, as Custodian
of the Element LA Mortgage Loan (see Exhibit 34.5)

 34.42
Advisor of the Element LA Mortgage Loan (see Exhibit 34.6)

 34.43

 34.44
KeyBank National Association, as Primary Servicer of the FedEx Brooklyn

 34.45
Rialto Capital Advisors, LLC, as Special Servicer of the FedEx Brooklyn

 34.46
Wells Fargo Bank, National Association, as Trustee of the FedEx Brooklyn

 34.47
Custodian of the FedEx Brooklyn Mortgage Loan (see Exhibit 34.5)

 34.48
 Pentalpha Surveillance LLC, as Operating Advisor
of the FedEx Brooklyn Mortgage Loan (see Exhibit 34.35)

 34.49

Servicer compliance statements.

 35.1
 Wells Fargo Bank, National Association, as Master
Servicer

 35.2

 35.3
Certificate Administrator

 35.4
as Servicing Function Participant for the Certificate Administrator

 35.5
 Wells Fargo Bank, National Association, as Primary Servicer
of the Promenade Gateway Mortgage Loan (see Exhibit 35.1)

 35.6
of the Promenade Gateway Mortgage Loan (see Exhibit 35.2)

 35.7
Servicer of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 35.1)

 35.8
of the AG Life Time Fitness Portfolio Mortgage Loan (see Exhibit 35.2)

 35.9
Servicer of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit
35.1)

 35.10
of the Hyatt Regency St. Louis at The Arch Mortgage Loan (see Exhibit 35.2)

 35.11
Servicer of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 35.1)

 35.12
of the 32 Avenue of the Americas Mortgage Loan (see Exhibit 35.2)

 35.13
 Berkeley Point Capital LLC d/b/a Newmark, as
Primary Servicer of the Element LA Mortgage Loan

 35.14
of the Element LA Mortgage Loan (see Exhibit 35.2)

 35.15
KeyBank National Association, as Primary Servicer of the FedEx Brooklyn

 35.16
Rialto Capital Advisors, LLC, as Special Servicer of the FedEx Brooklyn

 99.1 Mortgage Loan Purchase Agreement, dated as of January 27,
2016, between Deutsche Mortgage & Asset Receiving Corporation and German
American Capital Corporation (filed as Exhibit 99.1 to the registrant's Current
Report on Form 8-K/A filed on March 31, 2016 under Commission File No. 333-206705-01
and incorporated by reference herein)

 99.2 Mortgage Loan Purchase Agreement, dated as of January 27,
2016, between Deutsche Mortgage & Asset Receiving Corporation and Cantor
Commercial Real Estate Lending, L.P. (filed as Exhibit 99.2 to the registrant's
Current Report on Form 8-K/A filed on March 31, 2016 under Commission File No.
333-206705-01 and incorporated by reference herein)

 99.3 Mortgage Loan Purchase Agreement, dated as of January 27,
2016, between Deutsche Mortgage & Asset Receiving Corporation and Jefferies
LoanCore LLC (filed as Exhibit 99.3 to the registrant's Current Report on Form
8-K/A filed on March 31, 2016 under Commission File No. 333-206705-01 and
incorporated by reference herein)

 99.4 Mortgage Loan Purchase Agreement, dated as of January 27,
2016, among Deutsche Mortgage & Asset Receiving Corporation, Ladder Capital
Finance LLC, Ladder Capital Finance Holdings LLLP, Series TRS of Ladder Capital
Finance Holdings LLLP and Series REIT of Ladder Capital Finance Holdings LLLP
(filed as Exhibit 99.4 to the registrant's Current Report on Form 8-K/A filed
on March 31, 2016 under Commission File No. 333-206705-01 and incorporated by
reference herein)

 99.5 Primary Servicing Agreement, dated as of January 1, 2016,
between Wells Fargo Bank, National Association and Berkeley Point Capital LLC
(filed as Exhibit 99.5 to the registrant's Current Report on Form 8-K filed on
February 10, 2016 under Commission File No. 333-206705-01 and incorporated by
reference herein)

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

 (c) Not Applicable.

 SIGNATURES

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

 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 12, 2024

 /s/ Matt Smith

 Matt
Smith, Director

 Date: March 12, 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: 333-193376-03

 Central Index Key Number of the issuing entity:
0001600831

 COMM 2014-LC15 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: 0001541468

 Ladder Capital Finance LLC

 (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)

 New York

 (State or other jurisdiction of

 incorporation or organization of

 the issuing entity)

 38-3926089

 38-3926090

 38-7111572

 (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 JL Holdings-Burger King Portfolio-90
Mortgage Loan, which constituted approximately 2.9% 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 JL Holdings-Burger King
Portfolio-90 Mortgage Loan, one other pari passu loan and one
subordinate companion loan, which are not assets of the issuing entity. This
loan combination, including the JL Holdings-Burger King Portfolio-90 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.

 The Exhibit Index describes
exhibits provided by certain parties (in their capacities indicated on the
Exhibit Index) with respect to the PennCap Portfolio Mortgage Loan, which
constituted approximately 3.6% of the asset pool of the issuing entity as of
its cut-off date. The PennCap Portfolio Mortgage Loan is an asset of the
issuing entity and is part of a loan combination that includes the PennCap
Portfolio 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 WFRBS Commercial Mortgage Trust 2014-LC14 transaction,
Commission File Number 333-172366-12 (the " WFRBS 2014-LC14 Transaction ").
This loan combination, including the PennCap Portfolio Mortgage Loan, is being
serviced and administered pursuant to the pooling and servicing agreement for
the WFRBS 2014-LC14 Transaction, which is incorporated by reference as Exhibit
4.2 to this Annual Report on Form 10-K.

 The One Kendall Square Mortgage
Loan, previously an asset of the issuing entity, was not an asset of the
issuing entity during the reporting period and is omitted from this Annual
Report on Form 10-K and will be omitted from subsequent Annual Reports 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 PennCap Portfolio 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 and the PennCap Portfolio 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.

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

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

 Deutsche Bank Trust Company
Americas acts as trustee of the PennCap Portfolio Mortgage Loan. Pursuant
to the pooling and servicing agreement for the WFRBS 2014-LC14 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 PennCap 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 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 PennCap 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 PennCap 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 PennCap Portfolio
Mortgage Loan, the reports on assessment of compliance with servicing criteria
and attestation reports on assessment of compliance with servicing criteria of
Fintech Trust Advisors LLC d.b.a. CRED iQ as trust advisor of the PennCap
Portfolio Mortgage Loan prior to October 15, 2023 and BellOak, LLC as trust
advisor of the PennCap Portfolio Mortgage Loan on and after October 15, 2023
listed on the Exhibit Index are omitted from this Annual Report on Form 10-K as
they are not required to be included on this Annual Report on Form 10-K per
Instruction 3 to Item 1122 of Regulation AB because it is a party performing
activities that address servicing criteria relating to 5% or less of the assets
of the issuing entity.

 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 as custodian, U.S. Bank Trust
Company, National Association, as trustee, and Deutsche Bank Trust Company
Americas, as trustee, as certificate administrator 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.

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

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

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

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

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

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

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

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

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

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

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

 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 March 25, 2014 pursuant to Rule 424(b)(5).

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

 The reports on assessments of compliance with the servicing
criteria for asset-backed securities and related attestation reports on such
assessments of compliance with respect to the mortgage loans are attached
hereto under Item 15 to this Annual Report on Form 10-K. Attached as 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).

 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 PennCap Portfolio Mortgage Loan,
which is being serviced and administered pursuant to the pooling and servicing
agreement for the WFRBS 2014-LC14 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 WFRBS 2014-LC14 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 WFRBS
2014-LC14 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 March 1,
2014, by and among Deutsche Mortgage & Asset Receiving Corporation, as
Depositor, Wells Fargo Bank, National Association, as Master Servicer, Rialto
Capital Advisors, LLC, as Special Servicer, U.S. Bank National Association, as
Trustee, Wells Fargo Bank, National Association, as Certificate Administrator,
Paying Agent and Custodian, and Situs Holdings, LLC, as Operating Advisor
(filed as Exhibit 4 to the registrant's Current Report on Form 8-K filed on
March 25, 2014 under Commission File No. 333-193376-03 and incorporated by
reference herein).

 4.2
 Pooling and Servicing Agreement, dated as of February 1,
2014, 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, and TriMont Real Estate Advisors,
Inc., as Trust Advisor, Wells Fargo Bank, National Association, as Certificate
Administrator, Tax Administrator and Custodian, and Deutsche Bank Trust Company
Americas, as Trustee (filed as Exhibit 99.6 to the registrant's Current Report
on Form 8-K filed on March 25, 2014 under Commission File No. 333-193376-03 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
U.S. Bank Trust Company, National Association, as Trustee (Omitted. See
Explanatory Notes.)

 33.4
Certificate Administrator

 33.5
Custodian

 33.6
 Park Bridge Lender Services LLC, as Operating
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 JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit
33.1)

 33.11
of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit 33.2)

 33.12
U.S. Bank Trust Company, National Association, as Trustee of the JL
Holdings-Burger King Portfolio-90 Mortgage Loan (Omitted. See Explanatory
Notes.)

 33.13
Custodian of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see
Exhibit 33.5)

 33.14
 Park Bridge Lender Services LLC, as Operating
Advisor of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit
33.6)

 33.15
Participant of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see
Exhibit 33.7)

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

 33.17
Servicer of the PennCap Portfolio Mortgage Loan (see Exhibit 33.1)

 33.18
of the PennCap Portfolio Mortgage Loan (see Exhibit 33.2)

 33.19
Deutsche Bank Trust Company Americas, as Trustee of the PennCap Portfolio Mortgage
Loan (Omitted. See Explanatory Notes.)

 33.20
Custodian of the PennCap Portfolio Mortgage Loan (see Exhibit 33.5)

 33.21
Fintech Trust Advisors LLC d.b.a. CRED iQ, as Trust Advisor of the PennCap
Portfolio Mortgage Loan prior to October 15, 2023 (Omitted. See Explanatory
Notes.)

 33.22
BellOak, LLC, as Trust Advisor of the PennCap Portfolio Mortgage Loan on and
after October 15, 2023 (Omitted. See Explanatory Notes.)

 33.23
Participant of the PennCap Portfolio Mortgage Loan (see Exhibit 33.7)

 33.24
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

 34.3
U.S. Bank Trust Company, National Association, as Trustee (Omitted. See
Explanatory Notes.)

 34.4
Certificate Administrator

 34.5
Custodian

 34.6
 Park Bridge Lender Services LLC, as Operating
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 JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit
34.1)

 34.11
of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit 34.2)

 34.12
U.S. Bank Trust Company, National Association, as Trustee of the JL
Holdings-Burger King Portfolio-90 Mortgage Loan (Omitted. See Explanatory
Notes.)

 34.13
Custodian of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see
Exhibit 34.5)

 34.14
 Park Bridge Lender Services LLC, as Operating
Advisor of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit
34.6)

 34.15
Participant of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see
Exhibit 34.7)

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

 34.17
Servicer of the PennCap Portfolio Mortgage Loan (see Exhibit 34.1)

 34.18
of the PennCap Portfolio Mortgage Loan (see Exhibit 34.2)

 34.19
Deutsche Bank Trust Company Americas, as Trustee of the PennCap Portfolio
Mortgage Loan (Omitted. See Explanatory Notes.)

 34.20
Custodian of the PennCap Portfolio Mortgage Loan (see Exhibit 34.5)

 34.21
Fintech Trust Advisors LLC d.b.a. CRED iQ, as Trust Advisor of the PennCap
Portfolio Mortgage Loan prior to October 15, 2023 (Omitted. See Explanatory
Notes.)

 34.22
BellOak, LLC, as Trust Advisor of the PennCap Portfolio Mortgage Loan on and
after October 15, 2023 (Omitted. See Explanatory Notes.)

 34.23
Participant of the PennCap Portfolio Mortgage Loan (see Exhibit 34.7)

 34.24
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

 35.3
Certificate Administrator

 35.4
as Servicing Function Participant for the Certificate Administrator

 35.5
Servicer of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit
35.1)

 35.6
of the JL Holdings-Burger King Portfolio-90 Mortgage Loan (see Exhibit 35.2)

 35.7
Servicer of the PennCap Portfolio Mortgage Loan (see Exhibit 35.1)

 35.8
 Rialto Capital Advisors, LLC, as Special Servicer of
the PennCap Portfolio Mortgage Loan (see Exhibit 35.2)

 99.1 Mortgage Loan Purchase Agreement, dated as of March 25, 2014,
between German American Capital Corporation and Deutsche Mortgage & Asset
Receiving Corporation (filed as Exhibit 99.1 to the registrant's Current Report
on Form 8-K filed on March 25, 2014 under Commission File No. 333-193376-03 and
incorporated by reference herein)

 99.2 Mortgage Loan Purchase Agreement, dated as of March 25,
2014, among Ladder Capital Finance LLC, Ladder Capital Finance Holdings LLLP
and Deutsche Mortgage & Asset Receiving Corporation (filed as Exhibit 99.2
to the registrant's Current Report on Form 8-K filed on March 25, 2014 under
Commission File No. 333-193376-03 and incorporated by reference herein)

 99.3 Mortgage Loan Purchase Agreement, dated as of March 25,
2014, between Natixis Real Estate Capital LLC and Deutsche Mortgage & Asset
Receiving Corporation (filed as Exhibit 99.3 to the registrant's Current Report
on Form 8-K filed on March 25, 2014 under Commission File No. 333-193376-03 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 12, 2024

 /s/ Matt
Smith

 Matt Smith, Director

 Date: March 12, 2024