UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 10-D

ASSET BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from: ~~November~~December 1918, 2025 to ~~December~~January 1716, ~~2025~~2026

Commission File Number of issuing entity: 333-257737-08

Central Index Key Number of issuing entity: 0001981769

BBCMS Mortgage Trust 2023-C20
(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-257737

Central Index Key Number of depositor: 0001541480

Barclays Commercial Mortgage Securities LLC
(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001549574

Barclays Capital Real Estate Inc.
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001102113

Bank of America, National Association
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001685185

UBS AG New York Branch(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000927971

Bank of Montreal
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001755531

Societe Generale Financial Corporation
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001548405

Starwood Mortgage Capital LLC
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001968416

Argentic Real Estate Finance 2 LLC
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001592182

LMF Commercial, LLC
(Exact name of sponsor as specified in its charter)

Daniel Schmidt (212) 528-7479
(Name and telephone number, including area code, of the person to contact in connection with this filing)

New York
(State or other jurisdiction of incorporation or organization of the issuing entity)

38-4258212
38-4258213
38-7292508
(I.R.S. Employer Identification No.)

c/o Computershare Trust Company, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity) (Zip Code)

(667) 786-1992
(Telephone number, including area code)

Not Applicable
(Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

Title of Class	Section 12(b)	Section 12(g)	Section 15(d)	Name of Exchange (If Section 12(b))
A-1			X
A-2			X
A-3			X
A-4			X
A-5			X
A-SB			X
X-A			X
X-B			X
A-S			X
B			X
C			X

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 X No

Part I - DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

On ~~December~~January 1716, ~~2025~~2026 a distribution was made to holders of the certificates issued by BBCMS Mortgage Trust 2023-C20.

The distribution report is attached as an Exhibit to this Form 10-D, please see Item 10(b), Exhibit 99.1 for the related information.

NoThe ~~assets~~following ~~securitized~~table bypresents ~~Barclays~~the ~~Commercial~~loss ~~Mortgage~~information ~~Securities~~for ~~LLC (~~the ~~"Depositor")~~trust ~~and~~assets ~~held~~for bythe BBCMS Mortgage Trust 2023-C20 ~~were~~in ~~the~~accordance ~~subject~~with ofItem a1100(b) ~~demand~~as torequired ~~repurchase~~by orItem ~~replace~~1121(a)(9) ~~for breach~~ of ~~the~~Regulation ~~representations~~AB: ~~and warranties contained in the underlying transaction documents during the monthly distribution period from November 19, 2025 to December 17, 2025.~~

TheLoss DepositorInformation filedas itsreported most recent Form ABS-15G in accordance with Rule 15Ga-1 under the Exchange Act (a "Rule 15Ga-1 Form ABS-15G") on NovemberJanuary 416, 2025. The CIK number for the Depositor is 0001541480. 2026

Barclays Capital Real Estate Inc. filed its most recent Rule 15Ga-1 Form ABS-15G on February 13, 2025. The CIK number for Barclays Capital Real Estate Inc. is 0001549574.

Number of Delinquencies 30+ days	% of Delinquencies 30+ days by Pool Balance	Number of Loans/REOs with Losses	Average Net Loss
3	1.47%	0	N/A

~~Bank~~No ofassets ~~America,~~securitized ~~National~~by ~~Association~~Barclays Commercial Mortgage Securities LLC ~~filed~~(the ~~its~~"Depositor") ~~most~~and ~~recent~~held ~~Rule~~by ~~15Ga-1~~BBCMS ~~Form~~Mortgage ~~ABS~~Trust 2023-~~15G~~C20 were onthe ~~November~~subject ~~12,~~of ~~2025.~~a ~~The~~demand ~~CIK~~to ~~number~~repurchase or replace for ~~Bank~~breach of ~~America,~~the ~~National~~representations ~~Association~~and warranties contained in the underlying transaction documents during the monthly distribution period from December 18, 2025 isto January ~~0001102113~~16, 2026.

~~UBS~~The AG Depositor filed its most recent Form ABS-15G in accordance with Rule 15Ga-1 under the Exchange Act (a "Rule 15Ga-1 Form ABS-15G") on ~~February~~November 124, 2025. The CIK number for ~~UBS~~the AG Depositor is ~~0001685185~~0001541480.

~~Bank~~Barclays ofCapital ~~Montreal~~Real Estate Inc. filed its most recent Rule 15Ga-1 Form ABS-15G on February 1213, 2025. The CIK number for ~~Bank~~Barclays ofCapital ~~Montreal~~Real Estate Inc. is ~~0000927971~~0001549574.

~~Societe~~Bank ~~Generale~~of ~~Financial~~America, ~~Corporation~~National Association filed its most recent Rule 15Ga-1 Form ABS-15G on ~~February~~January 1321, ~~2025~~2026. The CIK number for ~~Societe~~Bank ~~Generale~~of ~~Financial~~America, ~~Corporation~~National Association is ~~0001755531~~0001102113.

~~Starwood~~UBS ~~Mortgage~~AG ~~Capital~~New ~~LLC~~York Branch filed its most recent Rule 15Ga-1 Form ABS-15G on ~~October~~February 3112, 2025. The CIK number for ~~Starwood~~UBS ~~Mortgage~~AG ~~Capital~~New ~~LLC~~York Branch is ~~0001548405~~0001685185.

~~Argentic~~Bank ~~Real~~of ~~Estate Finance 2 LLC~~Montreal filed its most recent Rule 15Ga-1 Form ABS-15G on ~~January~~February 1712, 2025. The CIK number for ~~Argentic~~Bank ~~Real~~of ~~Estate Finance 2 LLC~~Montreal is ~~0001968416~~0000927971.

~~LMF~~Societe ~~Commercial,~~Generale ~~LLC~~Financial Corporation filed its most recent Rule 15Ga-1 Form ABS-15G on February 313, 2025. The CIK number for ~~LMF~~Societe ~~Commercial,~~Generale ~~LLC~~Financial Corporation is ~~0001592182~~0001755531.

~~Item~~Starwood ~~1A.~~Mortgage ~~Asset~~Capital LLC filed its most recent Rule 15Ga-~~Level~~1 ~~Information~~Form ABS-15G on October 31, 2025. The CIK number for Starwood Mortgage Capital LLC is 0001548405.

~~ABS~~Argentic ~~Asset~~Real ~~Data~~Estate ~~File~~Finance (2 LLC filed asits ~~Exhibit~~most ~~102~~recent toRule ~~the~~15Ga-1 ~~registrant's~~ Form ABS-EE15G ~~filed~~ on ~~December~~January 2921, ~~2025 under~~2026. ~~Commission~~The ~~File~~CIK ~~No.~~number ~~333-257737-08~~for ~~and~~Argentic ~~incorporated~~Real byEstate ~~reference~~Finance ~~herein)~~2 LLC is 0001968416.

~~ABS~~LMF ~~Asset~~Commercial, ~~Related Document (~~LLC filed asits ~~Exhibit~~most ~~103~~recent toRule ~~the~~15Ga-1 ~~registrant's~~ Form ABS-EE15G ~~filed~~ on ~~December~~February 293, 2025 ~~under~~. ~~Commission~~The ~~File~~CIK ~~No.~~number ~~333-257737-08~~for ~~and~~LMF ~~incorporated~~Commercial, byLLC is ~~reference herein)~~0001592182.

~~Part~~Item II1A. Asset-Level ~~OTHER~~Information. ~~INFORMATION~~

~~Item~~ABS 9Asset Data File (filed as Exhibit 102 to the registrant's Form ABS-EE filed on January 27, 2026 under Commission File No. ~~Other~~333-257737-08 ~~Information~~and incorporated by reference herein).

~~KeyBank~~ABS ~~National~~Asset ~~Association,~~Related inDocument ~~its~~(filed ~~capacity~~ as ~~Master~~Exhibit ~~Servicer~~103 ~~for~~to ~~BBCMS~~the ~~Mortgage~~registrant's ~~Trust~~Form ~~2023~~ABS-~~C20~~EE filed on January 27, ~~affirms~~2026 under ~~the~~Commission ~~following~~File ~~amounts~~No. in333-257737-08 ~~the~~and ~~respective~~incorporated ~~accounts:~~by reference herein).

Collection Account
Prior Distribution Date	11/18/2025	$0.00
Current Distribution Date	12/17/2025	$0.00

Part II - OTHER INFORMATION

REO Account
Prior Distribution Date	11/18/2025	$0.00
Current Distribution Date	12/17/2025	$0.00

Item 9. Other Information.

~~Computershare~~KeyBank ~~Trust~~National ~~Company~~Association, ~~N.A.,~~ in its capacity as ~~Certificate~~Master ~~Administrator~~Servicer for BBCMS Mortgage Trust 2023-C20, affirms the following amounts in the respective accounts:

Distribution Account
Collection Account
Prior Distribution Date	1112/1817/2025	$~~7,341~~0.0200
Current Distribution Date	1201/1716/~~2025~~2026	$~~7,103~~0.3600

Interest Reserve Account
REO Account
Prior Distribution Date	1112/1817/2025	$0.00
Current Distribution Date	1201/1716/~~2025~~2026	$0.00

Gain-on-Sale Reserve Account
Prior Distribution Date	11/18/2025	$0.00
Current Distribution Date	12/17/2025	$0.00

Computershare Trust Company, N.A., in its capacity as Certificate Administrator for BBCMS Mortgage Trust 2023-C20, affirms the following amounts in the respective accounts:

Item 10. Exhibits.

Distribution Account
Prior Distribution Date	12/17/2025	$7,103.36
Current Distribution Date	01/16/2026	$157,445.38

(a) The following is a list of documents filed as part of this Report on Form 10-D:

Interest Reserve Account
Prior Distribution Date	12/17/2025	$0.00
Current Distribution Date	01/16/2026	$150,106.02

(99.1) Monthly report distributed to holders of the certificates issued by BBCMS Mortgage Trust 2023-C20, relating to the December 17, 2025 distribution.

Gain-on-Sale Reserve Account
Prior Distribution Date	12/17/2025	$0.00
Current Distribution Date	01/16/2026	$0.00

~~(102)~~Item ~~ABS Asset Data File (filed as Exhibit 102 to the registrant's Form ABS-EE filed on December 29, 2025 under Commission File No~~10. ~~333-257737-08 and incorporated by reference herein)~~Exhibits.

(~~103~~a) ~~ABS~~ ~~Asset~~The ~~Related~~following ~~Document~~is ~~(filed~~a aslist ~~Exhibit~~of ~~103~~documents tofiled ~~the~~as ~~registrant's~~part ~~Form~~of ~~ABS-EE~~this ~~filed~~Report on ~~December~~Form ~~29, 2025 under Commission File No. 333~~10-~~257737-08~~D: ~~and incorporated by reference herein).~~

(b99.1) ~~The~~ Monthly ~~exhibits~~report ~~required~~distributed to beholders ~~filed~~of the certificates issued by ~~the~~BBCMS ~~Registrant~~Mortgage ~~pursuant~~Trust to2023-C20, ~~this~~relating ~~Form~~to ~~are~~the ~~listed~~January ~~above~~16, 2026 distribution.

~~SIGNATURES~~(102) ABS Asset Data File (filed as Exhibit 102 to the registrant's Form ABS-EE filed on January 27, 2026 under Commission File No. 333-257737-08 and incorporated by reference herein).

~~Pursuant~~(103) to ABS ~~the~~Asset ~~requirements~~Related ofDocument ~~the~~(filed ~~Securities~~as ~~Exchange~~Exhibit ~~Act~~103 ofto ~~1934,~~ the registrant's ~~has~~Form ~~duly~~ABS-EE ~~caused~~filed ~~this~~on ~~report~~January to27, be2026 ~~signed~~under onCommission ~~its~~File ~~behalf~~No. by333-257737-08 ~~the~~and ~~undersigned~~incorporated ~~thereunto~~by ~~duly~~reference ~~authorized~~herein).

~~Barclays~~(b) ~~Commercial~~The ~~Mortgage~~exhibits ~~Securities~~required ~~LLC(Depositor)~~to be filed by the Registrant pursuant to this Form are listed above.

~~/s/ Daniel SchmidtDaniel Schmidt, Authorized Signatory~~SIGNATURES

~~Date: December~~Pursuant 29to the requirements of the Securities Exchange Act of 1934, ~~2025~~the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Barclays Commercial Mortgage Securities LLC
(Depositor)

/s/ Daniel Schmidt
Daniel Schmidt, Authorized Signatory

Date: January 27, 2026

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549

FORM 10-D

ASSET BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Registered/reporting pursuant to (check one)

TheLoss DepositorInformation filedas itsreported most recent Form ABS-15G in accordance with Rule 15Ga-1 under the Exchange Act (a "Rule 15Ga-1 Form ABS-15G") on NovemberJanuary 416, 2025. The CIK number for the Depositor is 0001541480. 2026

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

ASSET BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Filing Compare · BBCMS 2023-C20