secwatch.observer — SEC 8-K summary
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Issuer:     BBCMS Mortgage Trust 2023-5C23 (—)
CIK:        0001998392
Form:       8-K
Filed at:   2026-09-02T14:20:42+00:00
Accession:  0001888524-26-016557
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 6.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1998392/000188852426016557/0001888524-26-016557-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1998392/000188852426016557/bcr23c23_8k-09012026.htm
  HTML page:      https://secwatch.observer/filing/0001888524-26-016557

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