other material
confidence high
sentiment neutral
materiality 0.40
C-IV Asset Management becomes special servicer for three BMO 2023-5C1 loans
BMO 2023-5C1 Mortgage Trust
- Effective Sept 1, 2026, C-IV AM succeeded Greystone as special servicer for 11 West 42nd St, Short Pump Town Center, and Heritage Plaza loans.
- Greystone sold its special servicing division to C-IV AM; C-IV AM assumed all duties and liabilities.
- C-IV AM rated MOR CS2 (Morningstar DBRS) and CSS2 (Fitch); on S&P Select Servicer list with 'Average; Ranking Watch Positive'.
- As of 6/30/2026, C-IV AM's portfolio: 60 transactions, $20.7B UPB, 108 assets in active special servicing ($2.1B).
- C-IV AM has no servicer event of default; financial condition not expected to impact pool performance.