Milford Plaza Loan Posts $19.3M NOI; Servicing Roles Shift for MSBAM 2013-C9

TL;DR

**This CMBS trust is a compliance-heavy, low-drama play, with the Milford Plaza loan's $19.3M NOI providing a stable anchor amidst routine servicing changes and resolved legal headaches.**

AI Summary

The Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9 10-K filing for the fiscal year ended December 31, 2025, primarily details compliance with Regulation AB and changes in servicing parties, rather than traditional financial performance metrics like revenue or net income. A significant obligor, the Milford Plaza Fee loan, reported an unaudited net operating income of $19,325,927 for the 2025 fiscal year. Key business changes include the engagement of Computershare Trust Company, National Association on November 1, 2021, to assume roles previously held by Wells Fargo Bank, National Association, such as certificate administrator, custodian, and trustee. Additionally, LNR Partners, LLC replaced Midland Loan Services as special servicer in July 2018. The filing notes the resolution of several legal proceedings against Wells Fargo Bank, N.A., including the dismissal of Phoenix Light SF Limited's appeal in May 2023 and the denial of Commerzbank AG's appeal in October 2024, mitigating potential liabilities for the trustee. No new material legal proceedings were reported against the sponsors, depositor, or issuing entity. The strategic outlook emphasizes continued compliance with SEC regulations and the effective management of the securitized mortgage pool through its various servicers and advisors.

Why It Matters

This filing is crucial for investors in the Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9 as it provides transparency on the operational health and compliance of the securitized mortgage pool. The $19,325,927 net operating income from the Milford Plaza Fee loan, a significant obligor, directly impacts the performance of the underlying assets. Changes in key servicing roles, such as Computershare Trust Company replacing Wells Fargo Bank, N.A., and LNR Partners, LLC replacing Midland Loan Services, affect the administrative efficiency and risk management of the trust, influencing investor confidence and the competitive landscape for CMBS servicing. The resolution of legal challenges against Wells Fargo Bank, N.A. also reduces potential liabilities, offering greater stability to the trust's operations and its certificateholders.

Risk Assessment

Risk Level: low — The risk level is low because the filing explicitly states that there are no material legal proceedings pending against the sponsors, depositor, trustee, or issuing entity, other than those involving Wells Fargo Bank, N.A., which have largely been resolved. For example, Phoenix Light SF Limited dismissed its appeal in May 2023, and Commerzbank AG's appeal was denied in October 2024, significantly reducing litigation risk for the trustee.

Analyst Insight

Investors should maintain their positions, as the trust demonstrates stable operations and effective resolution of past legal challenges. Monitor the performance of the Milford Plaza Fee loan's net operating income, which was $19,325,927 in 2025, as it is a significant obligor and a key indicator of the trust's asset health.

Financial Highlights

debt To Equity

Not Disclosed

revenue

Not Disclosed

operating Margin

Not Disclosed

total Assets

Not Disclosed

total Debt

Not Disclosed

net Income

Not Disclosed

eps

Not Disclosed

gross Margin

Not Disclosed

cash Position

Not Disclosed

revenue Growth

Not Disclosed

Key Numbers

• $19,325,927 — Unaudited Net Operating Income (Milford Plaza Fee loan for fiscal year 2025, indicating strong performance of a significant obligor.)
• 2013-C9 — Trust Series (Identifies the specific securitization trust.)
• 2025 — Fiscal Year End (The period covered by this annual report.)
• 2026-03-24 — Filing Date (Date the 10-K was filed with the SEC.)
• 2021-11-01 — Date of Servicing Agreement Change (Computershare Trust Company, National Association was engaged to perform roles for Wells Fargo Bank, N.A.)
• 2018-07 — Date of Special Servicer Change (LNR Partners, LLC replaced Midland Loan Services as special servicer.)
• 2023-05 — Phoenix Light Appeal Dismissal (Resolution of a significant legal proceeding against Wells Fargo Bank, N.A.)
• 2024-10 — Commerzbank AG Appeal Denied (Further resolution of legal proceedings against Wells Fargo Bank, N.A.)

Key Players & Entities

• Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9 (company) — issuing entity
• Morgan Stanley Capital I Inc. (company) — depositor
• Morgan Stanley Mortgage Capital Holdings LLC (company) — sponsor
• Bank of America, National Association (company) — sponsor
• Wells Fargo Bank, National Association (company) — former trustee, certificate administrator, custodian
• Computershare Trust Company, National Association (company) — current certificate administrator, custodian, trustee
• LNR Partners, LLC (company) — current special servicer
• Midland Loan Services, a Division of PNC Bank, National Association (company) — master servicer, former special servicer
• Milford Plaza Fee loan (company) — significant obligor
• Jane Lam (person) — President of Morgan Stanley Capital I Inc.

Forward-Looking Statements

• The trust will continue to file its annual 10-K reports in a timely manner. (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9) — high confidence, target: 2027-03-31
• The underlying asset performance will remain stable, supporting the trust's obligations. (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9) — medium confidence, target: 2026-12-31

FAQ

Risk Factors

• Regulation AB Compliance [medium — regulatory]: The filing emphasizes adherence to Regulation AB, specifically detailing compliance with Items 1122 and 1123. This involves ensuring that all parties involved in the servicing function meet the specified criteria, which is crucial for investor confidence and regulatory standing.
• Servicing Party Changes [medium — operational]: Significant changes in servicing parties occurred, with Computershare Trust Company, National Association replacing Wells Fargo Bank, National Association as certificate administrator, custodian, and trustee on November 1, 2021. LNR Partners, LLC also replaced Midland Loan Services as special servicer in July 2018. These transitions require careful management to ensure continuity of operations.
• Resolution of Legal Proceedings [low — legal]: The filing notes the resolution of past legal proceedings against Wells Fargo Bank, N.A., including the dismissal of Phoenix Light SF Limited's appeal in May 2023 and the denial of Commerzbank AG's appeal in October 2024. These resolutions mitigate potential liabilities for the trustee.

Industry Context

The securitization market, particularly for commercial mortgage-backed securities (CMBS), operates within a highly regulated environment. Entities like Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9 are subject to stringent disclosure requirements under regulations like Regulation AB. The industry is characterized by complex servicing structures involving multiple parties, and operational continuity is paramount.

Regulatory Implications

The primary regulatory focus for this trust is adherence to Regulation AB, ensuring transparency and proper disclosure to investors. Changes in servicing parties and the resolution of legal proceedings are key areas that impact compliance and potential liabilities for the trustee.

What Investors Should Do

1. Review servicing party changes
2. Monitor Regulation AB compliance
3. Assess obligor performance

Key Dates

• 2021-11-01: Servicing Agreement Change — Computershare Trust Company, National Association was engaged as certificate administrator, custodian, and trustee, replacing Wells Fargo Bank, National Association. This impacts the operational structure of the trust's administration.
• 2018-07: Special Servicer Change — LNR Partners, LLC replaced Midland Loan Services as the special servicer. This change is critical for the management of defaulted or specially serviced loans within the trust.
• 2023-05: Phoenix Light Appeal Dismissal — The dismissal of this appeal against Wells Fargo Bank, N.A. resolves a significant legal matter, reducing potential contingent liabilities for the trustee.
• 2024-10: Commerzbank AG Appeal Denied — The denial of this appeal further solidifies the resolution of legal proceedings against Wells Fargo Bank, N.A., mitigating further risk for the trust.

Glossary

Regulation AB

A regulation by the U.S. Securities and Exchange Commission (SEC) that governs the reporting and disclosure requirements for asset-backed securities transactions. (The filing explicitly details compliance with various items under Regulation AB, which is fundamental to the trust's reporting obligations.)

Servicer

An entity responsible for managing the day-to-day operations of a pool of assets, including collecting payments, handling delinquencies, and performing other administrative tasks. (The filing details changes in servicers and emphasizes the compliance of current servicers with Regulation AB criteria.)

Certificate Administrator

The party responsible for administering the trust's certificates, including calculating distributions, preparing reports, and maintaining records. (The change in Certificate Administrator from Wells Fargo to Computershare is a key operational event noted in the filing.)

Trustee

A fiduciary responsible for overseeing the trust's assets and ensuring compliance with the terms of the pooling and servicing agreement. (The trustee's role is highlighted as nominal, with a contingent obligation for advances, and the filing confirms no such advances were made.)

Special Servicer

A servicer that handles loans that are delinquent, in default, or otherwise in special circumstances, often involving loan modifications or foreclosure. (The change in special servicer to LNR Partners, LLC is significant for the management of distressed assets within the pool.)

Pooling and Servicing Agreement (PSA)

The primary legal document that governs the securitization process, outlining the rights and responsibilities of all parties involved. (The filing refers to PSAs in the context of servicing functions and compliance with Regulation AB.)

Year-Over-Year Comparison

This filing focuses on regulatory compliance and operational changes rather than traditional financial performance metrics, making a direct comparison of revenue, net income, or margins to a previous filing difficult. The key changes highlighted are the engagement of Computershare Trust Company, National Association as a new servicing party and the resolution of past legal proceedings against Wells Fargo Bank, N.A., indicating a shift towards operational stability and risk mitigation rather than growth.

Key Financial Figures

• $19,325,927 — ant obligor for the 2025 fiscal year is $19,325,927. Item 1114(b)(2) of Regulation AB, Si

Filing Documents

• msb13c09_10k-2025.htm (10-K) — 74KB
• msb13c09_31.htm (EX-31) — 11KB
• msb13c09_33-1.htm (EX-33.1) — 357KB
• msb13c09_33-2.htm (EX-33.2) — 1420KB
• msb13c09_33-3.htm (EX-33.3) — 702KB
• msb13c09_33-4.htm (EX-33.4) — 3113KB
• msb13c09_33-5.htm (EX-33.5) — 172KB
• msb13c09_33-6.htm (EX-33.6) — 177KB
• msb13c09_33-7.htm (EX-33.7) — 38KB
• msb13c09_33-8.htm (EX-33.8) — 92KB
• msb13c09_34-1.htm (EX-34.1) — 14KB
• msb13c09_34-2.htm (EX-34.2) — 11KB
• msb13c09_34-3.htm (EX-34.3) — 14KB
• msb13c09_34-4.htm (EX-34.4) — 11KB
• msb13c09_34-5.htm (EX-34.5) — 9KB
• msb13c09_34-6.htm (EX-34.6) — 9KB
• msb13c09_34-7.htm (EX-34.7) — 8KB
• msb13c09_34-8.htm (EX-34.8) — 10KB
• msb13c09_35-1.htm (EX-35.1) — 1896KB
• msb13c09_35-2.htm (EX-35.2) — 2593KB
• msb13c09_35-3.htm (EX-35.3) — 1558KB
• msb13c09_35-4.htm (EX-35.4) — 1806KB
• msb13c09_35-5.htm (EX-35.5) — 290KB
• msb13c09_35-6.htm (EX-35.6) — 191KB
• 0001888524-26-005171.txt ( ) — 14576KB

financial statements

financial statements. Not applicable. 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). Not applicable. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ___ No X 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. Not applicable. 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. Not applicable. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Not applicable. 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). Not applicable. EXPLANATORY NOTES Except as set forth below, each of the parties to each pooling and servicing agreement listed in the Exhibit Index both (1) participates in the servicing function for purposes of Item 1122 of Regulation AB

of Regulation AB, nor does it perform the functions of a servicer for

Item 1122 of Regulation AB, nor does it perform the functions of a servicer for purposes of the definition of "servicer" under Item 1101 of Regulation AB or for purposes of Item 1123 of Regulation AB. The operating advisor under a pooling and servicing agreement represents the interests of senior certificateholders in the transaction governed by such pooling and servicing agreement and is responsible for monitoring the performance of the special servicer under such pooling and servicing agreement and producing certain reports to certificateholders relating to the resolution of the mortgage pool securitized pursuant to such pooling and servicing agreement. While the operating advisor under a pooling and servicing agreement has certain reporting obligations in respect of the related mortgage pool, it has no obligation to collect or disburse funds in respect of the mortgage pool or to administer any of the underlying mortgage loans. Consequently, the operating advisor under a pooling and servicing agreement participates in the servicing function for purposes of Item 1122 of Regulation AB, but is not responsible for the "management or collection of the pool assets or making allocations or distributions to holders of the asset-backed securities" within the meaning of "servicer" under Item 1101 of Regulation AB and does not perform the functions of a servicer for purposes of Item 1123 of Regulation AB. LNR Partners, LLC is the current special servicer under the MSBAM 2013-C9 pooling and servicing agreement. In July 2018, Midland Loan Services, a Division of PNC Bank, National Association was replaced as special servicer under the MSBAM 2013-C9 pooling and servicing agreement and succeeded by LNR Partners, LLC. In addition, each of the following parties engaged the services of certain servicing function participants and sub-servicers for the reporting period, as set forth below: Midland Loan Services, a Division of PNC Bank, National Association, as master servicer

Financial Statements and

Financial Statements and Supplementary Data. Omitted. Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Omitted. Item 9A.

Controls and Procedures

Controls and Procedures. Omitted. Item 9B. Other Information. None. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. None. PART III Item 10. Directors, Executive Officers and Corporate Governance. Omitted. Item 11.

Executive Compensation

Executive Compensation. Omitted. Item 12.

Security Ownership of

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. Omitted. Item 13. Certain Relationships and Related Transactions, and Director Independence. Omitted. Item 14. Principal Accountant Fees and Services. Omitted. ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB Item 1112(b) of Regulation AB, Significant Obligor Financial Information. The mortgaged property securing the Milford Plaza Fee loan constitutes a significant obligor within the meaning of 1101(k)(2) of Regulation AB. The most recent unaudited net operating income of the significant obligor for the 2025 fiscal year is $19,325,927. Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider Financial Information. No entity or group of affiliated entities provides any enhancement or other support for the certificates 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 for the certificates as described under Item 1115 of Regulation AB. Item 1117 of Regulation AB, Legal Proceedings. The registrant knows of no legal proceeding pending against the sponsors, depositor, trustee, issuing entity, servicer contemplated by Item 1108(a)(3) of Regulation AB, originator contemplated by Item 1110(b) of Regulation AB, or other party contemplated by Item 1100(d)(1) of Regulation AB, or of which any property of the foregoing is the subject, that is material to security holders, other than as follows: 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 Commerzban

SIGNATURES

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. Morgan Stanley Capital I Inc. (Depositor) By: /s/ Jane Lam Jane Lam, President (senior officer in charge of securitization of the depositor) Date: March 24, 2026

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