---
schema_version: "secwatch.filing_event.v1"
accession: "0001888524-26-016557"
form_type: "8-K"
ticker: null
cik: "0001998392"
company_name: "BBCMS Mortgage Trust 2023-5C23"
filed_at: "2026-09-02T14:20:42+00:00"
generated_at: "2026-09-02T14:23:12.861663+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# C-IV Asset Management replaces Greystone as special servicer for BBCMS 2023-5C23

## Summary
- Greystone sold special servicing division to C-IV AM on Sept 1, 2026; C-IV AM assumes all duties for 11 West 42nd Street loan.
- C-IV AM rated MOR CS2 (Morningstar DBRS), CSS2 (Fitch); on S&P Select Servicer list with 'Average; Ranking Watch Positive'.
- As of June 30, 2026, Greystone's portfolio: 60 transactions, $20.7B UPB, 1,928 loans; 33 CMBS deals, $14.2B.
- Active special servicing: 108 assets, $2.1B UPB; C-IV AM has resolved 6,017 assets since 2002 totaling $60.7B.

## SEC filing metadata
- accession: 0001888524-26-016557
- form_type: 8-K
- cik: 0001998392
- company_name: BBCMS Mortgage Trust 2023-5C23
- filed_at: 2026-09-02T14:20:42+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/1998392/000188852426016557/0001888524-26-016557-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1998392/000188852426016557/bcr23c23_8k-09012026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001888524-26-016557
- JSON: https://secwatch.observer/filing/0001888524-26-016557.json
- Plain text: https://secwatch.observer/filing/0001888524-26-016557.txt

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