other material
confidence high
sentiment neutral
materiality 0.55
C-IV AM assumes special servicing of Heritage Plaza Loan from Greystone effective Sept 1, 2026
Benchmark 2023-V3 Mortgage Trust
- Greystone sold its special servicing division to C-IV AM; C-IV AM assumed all duties under BANK5 2023-5YR3 PSA.
- C-IV AM rated MOR CS2 (Morningstar DBRS), CSS2 (Fitch), and on S&P Select Servicer list with 'Average; Ranking Watch Positive'.
- As of 6/30/2026, transferred portfolio: 60 transactions, ~1,928 loans, $20.7B UPB; 33 CMBS pools with $14.2B UPB.
- Active special servicing assets: ~108 loans, $2.1B UPB as of 6/30/2026; C-IV AM resolved 6,017 assets totaling $60.7B since 2002.
- C-IV AM has no servicer event of default and no material pending litigation; no material advancing rights.