Wells Fargo becomes master servicer for ~12% of BBCMS 2024-5C25 loans as of May 6, 2024

BBCMS Mortgage Trust 2024-5C25

Effective May 6, 2024, three mortgage loans (Jordan Creek Town Center, Kenwood Towne Centre, Galleria at Tyler) are serviced under BANK5 2024-5YR6 Pooling and Servicing Agreement.
Wells Fargo Bank, National Association becomes master servicer for those three loans, representing approx. 12.0% of trust's cut-off date principal balance.
Midland Loan Services will act as primary servicer for Jordan Creek Town Center and Galleria at Tyler loans under a separate primary servicing agreement.
LNR Partners, LLC (subsidiary of STWD) is appointed special servicer under the new pooling and servicing agreement.
Prior to May 6, these loans were serviced under the original PSA and Benchmark 2024-V5 PSA respectively.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BBCMS Mortgage Trust 2024-5C25 entered into Pooling and Servicing Agreement with Barclays Commercial Mortgage Securities LLC; Midland Loan Services, a Division of PNC Bank, National Association; 3650 REIT Loan Servicing LLC; Computershare Trust Company, National Association; Pentalpha Lender Surveillance LLC valued at Pooling and Servicing Agreement dated as of March 1, 2024 among the Depositor, master servicer, spec (effective 2024-03-01).

Action: entry
Counterparty: Barclays Commercial Mortgage Securities LLC; Midland Loan Services, a Division of PNC Bank, National Association; 3650 REIT Loan Servicing LLC; Computershare Trust Company, National Association; Pentalpha Lender Surveillance LLC
Value: Pooling and Servicing Agreement dated as of March 1, 2024 among the Depositor, master servicer, spec
Effective: 2024-03-01

Exact text from the filing

On March 28, 2024, Barclays Commercial Mortgage Securities LLC (the “ Depositor ”) caused the issuance of the BBCMS Mortgage Trust 2024-5C25, Commercial Mortgage Pass-Through Certificates, Series 2024-5C25 (the “ Certificates ”), pursuant to a pooling and servicing agreement, dated and effective as of March 1, 2024 (the “ Pooling and Servicing Agreement ”), among the Depositor, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, 3650 REIT Loan Servicing LLC, as special servicer, Computershare Trust Company, National Association, as certificate administrator and as trustee, and Pentalpha Lender Surveillance LLC, as operating advisor and as asset representations reviewer.

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Source: SEC EDGAR

accession 0001539497-24-000970

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