other material
confidence high
sentiment neutral
materiality 0.40
Argentic Services named special servicer for ILPT loan in MSC 2019-L3, replacing Situs
Morgan Stanley Capital I Trust 2019-L3
- Effective Sept 21, 2026, Argentic Services Company LP (ASC) replaces Situs Holdings as special servicer for ILPT Industrial Portfolio loan in MSC 2019-L3 securitization.
- Appointed by Blue Owl Real Estate Debt Advisors LLC, the directing certificateholder; servicing governed by existing PSA.
- ASC is majority-owned by Elliott-managed funds; Elliott manages ~$79.8B assets. ASC has Fitch CSS2-, S&P Above Average, DBRS MOR CS2 ratings.
- ASC's named special servicing portfolio as of 6/30/26: 1,801 loans / $56.05B UPB; 33 employees dedicated to special servicing.