Extended Stay America Trust

A: Registration: 144A/Reg S; A-1: Registration: 144A/Reg S; B: Registration: 144A/Reg S; C: Registration: 144A/Reg S; D: Registration: 144A/Reg S; E: Registration: 144A/Reg S; F: Registration: 144A/Reg S; G: Registration: 144A/Reg S; HRR: Registration: 144A/Reg S;

The Sponsor is a joint-venture between Blackstone Real Estate Partners IX LP and Starwood Capital Group

The mortgage loan is secured by the fee and/or leasehold interests in a portfolio of 560 Extended Stay America flagged hotel properties totaling 62,257 keys located across 40 states throughout the U.S

JPMCB is expected to act as the “retaining sponsor” for this securitization and intends to satisfy the U.S. credit risk retention requirement through the purchase by Franklin HRR CMBS Holdings, LLC, a Delaware limited liability company, as a “third-party purchaser” from the Depositor, on the Closing Date, of an “eligible horizontal residual interest”, which will be comprised of the Class HRR Certificates

Take-private acquisition financing with approximately $1.637B of sponsor equity being contributed