---
schema_version: "secwatch.filing_event.v1"
accession: "0001888524-26-016545"
form_type: "8-K"
ticker: null
cik: "0001991524"
company_name: "BANK5 2023-5YR3"
filed_at: "2026-09-02T13:57:56+00:00"
generated_at: "2026-09-02T13:58:56.222307+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Special servicer for BANK5 2023-5YR3 changes from Greystone to C-IV AM effective Sept 1, 2026

## Summary
- Greystone sold its special servicing division to C-IV AM on Sept 1, 2026; C-IV AM assumes all special servicer duties.
- C-IV AM rated MOR CS2 (DBRS), CSS2 (Fitch), and on S&P Select Servicer list with 'Average; Ranking Watch Positive'.
- As of 6/30/26, Greystone's portfolio: ~60 transactions, ~1,928 loans, $20.7B UPB; 33 CMBS pools with $14.2B.
- ~108 assets with $2.1B in active special servicing; C-IV AM has resolved 6,017 assets totaling $60.7B since 2002.
- All Greystone named portfolio transfers to C-IV AM except two CLOs; key employees continue in same roles.

## SEC filing metadata
- accession: 0001888524-26-016545
- form_type: 8-K
- cik: 0001991524
- company_name: BANK5 2023-5YR3
- filed_at: 2026-09-02T13:57:56+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 6.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1991524/000188852426016545/0001888524-26-016545-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1991524/000188852426016545/bak23yr3_8k-09012026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001888524-26-016545
- JSON: https://secwatch.observer/filing/0001888524-26-016545.json
- Plain text: https://secwatch.observer/filing/0001888524-26-016545.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.