secwatch.observer — SEC 8-K summary
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Issuer:     BANK5 2023-5YR3 (—)
CIK:        0001991524
Form:       8-K
Filed at:   2026-09-02T13:57:56+00:00
Accession:  0001888524-26-016545
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 6.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1991524/000188852426016545/0001888524-26-016545-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1991524/000188852426016545/bak23yr3_8k-09012026.htm
  HTML page:      https://secwatch.observer/filing/0001888524-26-016545

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer