UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: ~~July~~August 187, 2025 (Date of earliest event reported)

BBCMS Mortgage Trust 2025-5C36
(Central Index Key Number 0002076111)

(Exact name of issuing entity)

Barclays Capital Real Estate Inc.
(Central Index Key Number 0001549574)

(Exact name of sponsor as specified in its charter)

LMF Commercial, LLC
(Central Index Key Number 0001592182)
(Exact name of sponsor as specified in its charter)

Citi Real Estate Funding Inc.

(Central Index Key Number 0001701238)

(Exact name of sponsor as specified in its charter)

Starwood Mortgage Capital LLC

(Central Index Key Number 0001548405)

(Exact name of sponsor as specified in its charter)

UBS AG
(Central Index Key Number 0001685185)
(Exact name of sponsor as specified in its charter)

Societe Generale Financial Corporation
(Central Index Key Number 0001755531)
(Exact name of sponsor as specified in its charter)

German American Capital Corporation

(Central Index Key Number 0001541294)
(Exact name of sponsor as specified in its charter)

Zions Bancorporation, N.A.
(Central Index Key Number 0000109380)
(Exact name of sponsor as specified in its charter)

Barclays Commercial Mortgage Securities LLC
(Central Index Key Number 0001541480)

(Exact name of registrant as specified in its charter)

Delaware	333-286968-02	27-010880
(State or other jurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No.)

745 Seventh Avenue New York, New York		10019
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code

(212) 412-4000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐ [_]

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. ☐ [_]

Item 8.01.

Other Events.

On ~~July~~August 187, 2025, Barclays ~~Capital~~ ~~Inc.~~Commercial ~~(“Barclays”),~~Mortgage ~~Citigroup~~Securities ~~Global~~LLC ~~Markets Inc.~~ (the “~~CGMI~~Registrant”) caused the issuance, ~~Deutsche~~pursuant ~~Bank~~to ~~Securities~~a ~~Inc. (“DBSI”),~~pooling SGand ~~Americas~~servicing ~~Securities~~agreement, ~~LLC~~dated ~~(“SGAS”),~~and ~~UBS~~effective ~~Securities~~as ~~LLC~~of ~~(“UBS~~August ~~Securities”)~~1, ~~Drexel~~ ~~Hamilton,~~2025 ~~LLC~~ (the “~~Drexel”)~~Pooling and ~~Academy~~Servicing ~~Securities~~Agreement”), ~~Inc.~~among ~~(“Academy”~~the ~~and~~Registrant, ~~together~~as indepositor, ~~such~~Trimont ~~capacity with Barclays~~LLC, ~~CGMI,~~as ~~DBSI,~~master ~~SGAS~~servicer, ~~UBS~~K-Star ~~Securities~~Asset ~~and~~Management ~~Drexel~~LLC, ~~the~~as ~~“Underwriters”)~~special ~~entered~~servicer, ~~into~~Computershare Trust anCompany, ~~agreement~~National ~~with~~Association, ~~Barclays Commercial~~as ~~Mortgage~~certificate ~~Securities~~administrator ~~LLC~~and ~~(the~~as ~~“Registrant”)~~trustee, and ~~Barclays~~Park ~~Capital~~Bridge ~~Holdings~~Lender ~~Inc.~~Services ~~(“BCHI”)~~LLC, ~~dated~~ as ofoperating ~~July~~advisor ~~18,~~and ~~2025~~as ~~(the~~asset ~~“Underwriting~~representations ~~Agreement”)~~reviewer, ~~an executed version~~ of ~~which~~BBCMS isMortgage ~~attached~~Trust ~~hereto as Exhibit 1.1~~2025-5C36, ~~with~~ ~~respect~~Commercial toMortgage ~~the~~Pass-Through ~~sale of the Public~~ Certificates ~~(as defined below) scheduled to occur on August 7~~, Series 2025-5C36 (the “~~Closing Date~~Certificates”). ~~The Public Certificates will have an aggregate initial principal amount of $516,080,000.~~

The ~~Registrant~~Certificates ~~also~~will ~~entered into~~consist anof ~~agreement to sell~~ the ~~Private~~classes ~~Certificates~~(each, ~~having~~a an“Class”) ~~aggregate~~designated ~~initial~~as ~~principal~~(i) ~~amount~~Class ~~of $97~~A-1,~~388,549,~~ toClass ~~Barclays~~A-2, ~~CGMI,~~Class ~~DBSI~~A-3, ~~SGAS,~~ ~~UBS~~Class ~~Securities~~X-A, ~~Drexel~~Class A-S and ~~Academy~~Class ~~(collectively~~B inCertificates ~~such capacity~~(collectively, the “~~Initial~~Public ~~Purchasers~~Certificates”), ~~pursuant~~and to(ii) aClass ~~certificate purchase agreement~~X-B, ~~dated~~Class asC, ofClass ~~July 18~~C-1, ~~2025~~Class ~~(the~~C-2, ~~“Certificate~~Class ~~Purchase Agreement”)~~C-X1, ~~among~~Class ~~the Registrant~~C-X2, ~~BCHI~~Class ~~and the~~D, ~~Initial~~Class ~~Purchasers.~~D-1, ~~The~~Class ~~Private~~D-2, ~~Certificates~~Class ~~will~~D-X1, beClass ~~sold~~D-X2, inClass aE-RR, ~~transaction~~Class ~~exempt~~F-RR, Class ~~from~~G-RR, ~~registration~~Class ~~under~~J-RR, ~~the~~Class ~~Securities Act of 1933~~K-RR, as ~~amended,~~Class ~~pursuant~~L-RR toand ~~Section~~Class ~~4(a)(2)~~R ofCertificates (the ~~Act~~“Private Certificates”).

OnThe ~~the~~Public ~~Closing~~Certificates ~~Date,~~were sold to Barclays ~~Commercial~~ ~~Mortgage~~Capital Inc. (“Barclays”), SG Americas Securities, LLC (~~the~~ “~~Depositor~~SGAS”), ~~will~~UBS ~~cause~~Securities ~~the~~LLC ~~issuance~~(“UBS ofSecurities”), ~~the~~Citigroup ~~BBCMS~~Global ~~Mortgage~~Markets ~~Trust~~Inc. ~~2025-5C36~~(“CGMI”), ~~Commercial~~ ~~Mortgage~~Deutsche ~~Pass-Through~~Bank ~~Certificates,~~Securities ~~Series~~Inc. ~~2025-5C36~~ (~~the~~ “~~Certificates~~DBSI”), ~~pursuant~~Academy toSecurities, aInc. ~~pooling~~(“Academy”) and ~~servicing~~Drexel ~~agreement~~Hamilton, ~~dated~~LLC (“Drexel” and, ~~effective~~together asin ofsuch ~~August~~capacity 1with Barclays, ~~2025~~SGAS, anUBS ~~executed~~Securities, ~~version~~CGMI, ofDBSI ~~which~~and isAcademy, ~~attached hereto as Exhibit 4.1 (~~the “~~Pooling and Servicing Agreement~~Underwriters”), ~~among~~pursuant ~~the~~to ~~Registrant,~~an ~~Trimont~~Underwriting ~~LLC~~Agreement, asdated ~~master servicer, K-Star Asset Management LLC,~~ as ~~special~~of ~~servicer, Computershare~~July ~~Trust Company~~18, ~~National Association~~2025, asamong ~~certificate~~the ~~administrator and as trustee~~Registrant, ~~and~~Barclays ~~Park~~Capital ~~Bridge~~Holdings ~~Lender~~Inc. ~~Services~~(“BCHI”) ~~LLC, as operating advisor~~ and asthe ~~asset representations reviewer~~Underwriters.

The Private Certificates ~~will~~were ~~consist of~~sold ~~the~~to ~~following classes~~Barclays, ~~designated as (i) Class A-1~~SGAS, ~~Class~~UBS ~~A-2~~Securities, ~~Class A-3~~CGMI, ~~Class X-A~~DBSI, ~~Class~~Academy ~~A-S~~ and ~~Class~~Drexel ~~B Certificates~~ (collectively in such capacity, the “~~Public~~Initial ~~Certificates~~Purchasers”), ~~and~~pursuant ~~(ii)~~to ~~Class~~a ~~X-B,~~Certificate ~~Class~~Purchase CAgreement, ~~Class~~dated ~~C-1,~~as ~~Class~~of ~~C-2~~July 18, ~~Class C-X1~~2025, ~~Class~~among ~~C-X2~~the Registrant, ~~Class~~BCHI D,and ~~Class D-1,~~the ~~Class~~Initial ~~D-2,~~Purchasers. ~~Class~~The ~~D-X1,~~Private ~~Class~~Certificates ~~D-X2,~~will ~~Class~~be ~~E-RR,~~sold ~~Class~~in ~~F-RR,~~a ~~Class~~transaction ~~G-RR,~~exempt ~~Class~~from ~~J-RR,~~registration ~~Class~~under the ~~K-RR~~Securities Act of 1933, ~~Class~~as ~~L-RR~~amended, ~~and~~pursuant ~~Class~~to RSection ~~Certificates~~ 4(~~the~~a)(2) ~~“Private~~of ~~Certificates”)~~the Act.

~~Several~~The ~~Mortgage~~Certificates ~~Loans that~~represent, ~~are~~in ~~among~~ the ~~assets~~aggregate, of the ~~Issuing~~entire ~~Entity~~beneficial ~~are~~ownership ~~part~~in ofBBCMS aMortgage ~~Whole~~Trust ~~Loan.~~2025-5C36 ~~Each~~(the ~~Whole~~“Issuing ~~Loan~~Entity”), isa ~~governed~~common bylaw atrust ~~co-lender,~~fund ~~intercreditor~~to ~~or similar~~be ~~agreement~~formed ~~(each,~~on anAugust ~~“Intercreditor~~7, ~~Agreement”)~~2025 ~~between~~under the ~~holders~~laws of the ~~promissory~~State ~~notes~~of ~~comprising~~New ~~such Whole~~York ~~Loan,~~pursuant to the ~~terms~~Pooling ofand ~~which~~Servicing ~~are~~Agreement. ~~described~~The ~~under~~assets ~~“Description~~ of the ~~Mortgage~~Issuing ~~Pool—The~~Entity ~~Whole~~consist ~~Loans”~~primarily inof ~~the Prospectus~~31 ~~described~~commercial, ~~below.~~multifamily, ~~Each~~manufactured housing ~~Intercreditor~~community ~~Agreement~~and/or isleased ~~attached~~fee asmortgage anloans ~~exhibit hereto as described in~~ (the ~~following~~“Mortgage ~~table~~Loans”). ~~Moreover, certain~~The ofnet ~~such~~proceeds ~~Whole~~of ~~Loans~~the ~~will~~sale ~~not~~of bethe ~~serviced~~Certificates ~~pursuant~~were applied to the ~~Pooling~~purchase ~~and~~of ~~Servicing~~the ~~Agreement~~Mortgage ~~but~~Loans ~~will~~by ~~instead~~the beRegistrant ~~serviced~~from ~~pursuant to~~Barclays aCapital ~~different~~Real ~~servicing~~Estate ~~agreement~~Inc. (~~each, a~~ “~~Non-Serviced PSA~~BCRE”)., ~~Each~~LMF ~~such~~Commercial, ~~Non-Serviced~~LLC, ~~PSA~~Citi isReal ~~attached~~Estate asFunding ~~an exhibit hereto as described in the following table~~Inc., ~~For~~Starwood aMortgage ~~description~~Capital ofLLC, ~~the~~UBS ~~servicing~~AG ofNew ~~the~~York ~~affected~~Branch, ~~Whole~~Societe ~~Loans~~Generale ~~under~~Financial ~~such Non-Serviced PSAs~~Corporation, ~~see~~ ~~“Pooling~~German ~~and~~American ~~Servicing~~Capital ~~Agreement—Servicing~~Corporation ofand ~~the~~Zions ~~Non-Serviced~~Bancorporation, ~~Mortgage Loans” in the Prospectus described below~~N.A.

Name of Mortgage Loan	Intercreditor Agreement	Non-Serviced PSA (if any)
ILPT 2025 Portfolio	4.5	4.2
Equinox Sports Club	4.6	N/A
The Roosevelt New Orleans	4.7	N/A

On August 7, 2025, the Registrant sold all of the Public Certificates, having an aggregate certificate principal amount of $516,080,000. The net proceeds of the offering to the Registrant of the issuance of the Certificates, after deducting expenses payable by the Registrant of $4,109,741.48, were approximately $526,183,305.24. Of the expenses paid by the Registrant, approximately $79,011.85 were paid directly to affiliates of the Registrant, $42,062.47 in the form of fees were paid to the Underwriters, $105,156.16 were paid to or for the Underwriters and $3,883,511 were other expenses. All of the foregoing expense amounts are the Depositor’s reasonable estimates of such expenses.

One Grove	4.8	4.3
The Link	4.9	4.4

Further information regarding such sales has been previously provided on the Registrant’s Current Report on Form 8-K, as filed with the Securities and Exchange Commission (Filing Date: July 22, 2025) and in the Prospectus, dated July 18, 2025 and as filed with the Securities and Exchange Commission on

~~The~~July ~~Certificates represent~~22, in ~~the aggregate, the entire beneficial ownership in BBCMS Mortgage Trust~~ 2025~~-5C36 (the “Issuing Entity”), a common law trust fund to be formed on August 7, 2025 under the laws of the State of New York pursuant to the Pooling and Servicing Agreement~~. ~~The~~ ~~assets of the Issuing Entity consist primarily of 31 commercial, multifamily and/or manufactured housing community mortgage loans (the “Mortgage Loans”).~~ The ~~Mortgage~~related ~~Loans~~registration ~~will~~statement ~~be acquired by the Registrant from~~ (i)file ~~Barclays Capital Real Estate Inc~~no. ~~(“BCRE”~~333-286968) ~~pursuant~~was tooriginally adeclared ~~Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.1 and dated and~~ effective ason ofMay ~~August 7~~23, 2025, among the Registrant, BCHI and BCRE (the “Barclays Mortgage Loan Purchase Agreement”), (ii) LMF Commercial, LLC (“LMF”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.2 and dated and effective as of August 7, 2025, between the Registrant and LMF (the “LMF Mortgage Loan Purchase Agreement”), (iii) Citi Real Estate Funding Inc. (“CREFI”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.3 and dated and effective as of August 7, 2025, between the Registrant and CREFI (the “CREFI Mortgage Loan Purchase Agreement”), (iv) Starwood Mortgage Capital LLC (“Starwood”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.4 and dated and effective as of August 7, 2025, between the Registrant and Starwood (the “Starwood Mortgage Loan Purchase Agreement”), (v) UBS AG New York Branch (“UBS AG”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.5 and dated and effective as of August 7, 2025, between the Registrant and UBS AG (the “UBS AG Mortgage Loan Purchase Agreement”), (vi) Societe Generale Financial Corporation (“SGFC”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.6 and dated and effective as of August 7, 2025, between the Registrant and SGFC (the “SGFC Mortgage Loan Purchase Agreement”), (vii) German American Capital Corporation (“GACC”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.7 and dated and effective as of August 7, 2025, between the Registrant and GACC (the “GACC Mortgage Loan Purchase Agreement”) and (viii) Zions Bancorporation, N.A. (“ZBNA”) pursuant to a Mortgage Loan Purchase Agreement, attached hereto as Exhibit 99.8 and dated and effective as of August 7, 2025, between the Registrant and ZBNA (the “ZBNA Mortgage Loan Purchase Agreement”).

~~The~~In ~~Public~~connection ~~Certificates and~~with the ~~Mortgage~~issuance ~~Loans~~and ~~are~~sale ~~more~~to ~~particularly~~the ~~described~~Underwriters inof the ~~prospectus,~~Public ~~dated July 18~~Certificates, ~~2025~~a ~~(the~~legal ~~“Prospectus”)~~opinion ~~and as~~was ~~filed~~rendered ~~with~~related to the ~~Securities~~validity of, and ~~Exchange~~certain ~~Commission~~federal onincome ~~July~~tax ~~22,~~considerations ~~2025.~~relating ~~In connection with such Prospectus~~to, the ~~Chief~~Public ~~Executive~~Certificates, ~~Officer of~~which ~~the~~legal ~~Registrant~~opinion ~~has~~is ~~provided the certification~~ attached ~~hereto~~ as ~~Exhibit~~an ~~36.1~~exhibit ~~and~~to ~~dated~~this ~~as of July 18, 2025~~report.

~~The~~Credit ~~related~~Risk ~~registration statement (file no. 333-286968) was originally declared effective on May 23, 2025.~~ Retention

BCRE, in its capacity as retaining sponsor (in such capacity, the “Retaining Sponsor”), is satisfying its credit risk retention obligation under Regulation RR, 12 C.F.R. Part 244 (the “Risk Retention Rule”) in connection with the securitization of the Mortgage Loans referred to above by the purchase on the Closing Date and holding by KKR ROX II TMK CMBS Lower HoldCo (C) Category 2 L.P., acting as a third-party purchaser under the Risk Retention Rule, of the Class E-RR, Class F-RR, Class G-RR, Class J-RR, Class K-RR and Class L-RR Certificates (collectively, the “HRR Certificates”).

The HRR Certificates constitute an “eligible horizontal residual interest” (as defined in the Risk Retention Rule) with a fair value of $31,520,278 that represents approximately 5.074% of the fair value of all Classes of Certificates (other than the Class R Certificates), based on actual sale prices and finalized tranche sizes pursuant to the Certificate Purchase Agreement. If the Retaining Sponsor had relied solely on retaining an “eligible horizontal residual interest” in order to meet the credit risk retention requirements of the Risk Retention Rule with respect to this securitization transaction, it would have retained an eligible horizontal residual interest with an aggregate fair value dollar amount of approximately $31,058,953, representing 5.0% of the aggregate fair value, as of the Closing Date, of all Classes of Certificates (other than the Class R Certificates), excluding accrued interest.

There are no material differences between (a) the valuation methodology or any of the key inputs and assumptions that were used in calculating the fair value or range of fair values disclosed in the preliminary prospectus dated July 15, 2025 and as filed with the Securities and Exchange Commission on July 15, 2025 under the heading “Credit Risk Retention” prior to the pricing of the certificates and (b) the valuation methodology or the key inputs and assumptions that were used in calculating the fair value set forth above in this paragraph.

Item 9.01.

Financial Statements, Pro Forma Financial Information and Exhibits.

(d) Exhibits

(d)	Exhibits

Exhibit No.	Description

Exhibit 5	Legality Opinion of Cadwalader, Wickersham & Taft LLP, dated August 7, 2025.

Exhibit 8	Tax Opinion of Cadwalader, Wickersham & Taft LLP, dated August 7, 2025 (included as part of Exhibit 5).

Exhibit 23	Consent of Cadwalader, Wickersham & Taft LLP (included as part of Exhibit 5).

~~Exhibit~~Pursuant ~~No.~~to ~~Description~~the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Exhibit 1.1 Underwriting Agreement, dated as of July 18, 2025, among Barclays Commercial Mortgage Securities LLC, as depositor, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., SG Americas Securities, LLC, UBS Securities LLC, Drexel Hamilton, LLC and Academy Securities, Inc., as underwriters, and Barclays Capital Holdings Inc.



Date: August 7, 2025	BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC (Registrant)



	By:	/s/ Daniel Schmidt
		Name: Daniel Schmidt
		Title: Chief Executive Officer

Exhibit 4.1 Pooling and Servicing Agreement, dated and effective as of August 1, 2025, among Barclays Commercial Mortgage Securities LLC, as depositor, Trimont LLC, as master servicer, K-Star Asset Management LLC, as special servicer, Computershare Trust Company, National Association, as certificate administrator and as trustee, and Park Bridge Lender Services LLC, LLC, as operating advisor and as asset representations reviewer.

Exhibit 4.2 Trust and Servicing Agreement, dated as of June 27, 2025, among Citigroup Commercial Mortgage Securities Inc., as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as 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.

Exhibit 4.3 Pooling and Servicing Agreement, dated as of June 1, 2025, among BMO 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, BellOak, LLC, as operating advisor and as asset representations reviewer, Computershare Trust Company, National Association, as certificate administrator, and Computershare Trust Company, National Association, as trustee.

Exhibit 4.4 Pooling and Servicing Agreement, dated as of April 1, 2025, between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Greystone Servicing Company LLC, as special servicer, Computershare Trust Company, National Association, as trustee, certificate administrator, paying agent and custodian, and Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer.

Exhibit 4.5 Agreement Between Note Holders, dated as of June 26, 2025, by and among Citi Real Estate Funding Inc., as Initial Note A-1 Holder, Initial Note A-7 Holder and Initial Note B-1 Holder, Bank of America, N.A., as Initial Note A-2 Holder, Initial Note A-8 Holder and Initial Note B-2 Holder, Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note A-3 Holder, Initial Note A-9 Holder and Initial Note B-3 Holder, Bank of Montreal, as Initial Note A-4 Holder, Initial Note A-10 Holder and Initial Note B-4 Holder, Royal Bank of Canada, as Initial Note A-5 Holder, Initial Note A-11 Holder and Initial Note B-5 Holder, and UBS AG New York Branch, as Initial Note A-6 Holder, Initial Note A-12 Holder and Note B-6 Holder.

Exhibit 4.6 Co-Lender Agreement, dated as of July 3, 2025, between LMF Commercial, LLC, as Initial Note A-1 Holder and Initial Note A-2 Holder.

Exhibit 4.7 Agreement Between Note Holders, dated as of June 30, 2025, by and between Barclays Capital Real Estate Inc. and Wells Fargo Bank, National Association.

Exhibit 4.8 Agreement Between Note Holders, dated as of June 6, 2025, between Societe Generale Financial Corporation, as Initial Note A-1 Holder and as Initial Note A-2 Holder.

Exhibit 4.9 Co-Lender Agreement, dated as of March 17, 2025 by and between DBRI Investments Co. Limited, as Initial Note A-1 Holder, as Initial Note A-2 Holder, as Initial Note A-3 Holder and as Initial Note A-4 Holder.

Exhibit 36.1 Depositor’s Certification for Shelf Offerings of Asset-Backed Securities in respect of that certain Prospectus dated July 18, 2025.

Exhibit 99.1 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, among Barclays Capital Real Estate Inc., as seller, Barclays Capital Holdings Inc., and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.2 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between LMF Commercial, LLC, as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.3 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between Citi Real Estate Funding Inc., as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.4 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between Starwood Mortgage Capital LLC, as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.5 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between UBS AG New York Branch, as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.6 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between Societe Generale Financial Corporation, as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.7 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between German American Capital Corporation, as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Exhibit 99.8 Mortgage Loan Purchase Agreement, dated and effective as of August 7, 2025, between Zions Bank, N.A., as seller, and Barclays Commercial Mortgage Securities LLC, as purchaser.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 22, 2025	BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC (Registrant)
	By:	/s/ Daniel Schmidt
		Name: Daniel Schmidt
		Title: Chief Executive Officer

Filing Compare · BBCMS Mortgage Trust 2025-5C36