Barclays Commercial Mortgage Securities LLC, acting as the registrant for BBCMS Mortgage Trust 2019-C4, filed a Form 8-K on September 1, 2026, to disclose a change in its special servicer. According to the filing, C-IV Asset Management LLC (C-IV AM) will assume the role of special servicer for the ExchangeRight Net Leased Portfolio #27 Mortgage Loan under the WFCM 2019-C51 pooling and servicing agreement. This transition follows the sale and conveyance of substantially all assets from Greystone Servicing Company LLC to C-IV AM on September 1, 2026.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The filing states that key employees from Greystone’s special servicing division have moved to C-IV AM or its affiliate and will continue performing the same duties in substantially the same capacity. The company is headquartered in Irving, Texas, and holds a special servicer rating of “MOR CS2” from Morningstar DBRS and “CSS2” from Fitch. It is also listed on S&P’s Select Servicer list as a U.S. Commercial Mortgage Special Servicer.
The filing provides historical context regarding the scale of Greystone’s operations prior to the transfer. As of June 30, 2026, Greystone was the named special servicer for approximately 60 transactions representing 1,928 first-lien mortgage loans with an aggregate stated principal balance of about $20.7 billion. Of these, 33 were CMBS transactions with a balance of approximately $14.2 billion. C-IV AM notes that it has resolved or participated in the resolution of 6,017 total assets with an aggregate principal balance of approximately $60.7 billion since its inception in 2002.
The filing details the specific assets being transferred, noting that all of Greystone’s named portfolio will be assigned to C-IV AM as of September 1, 2026, with the exception of two collateralized loan obligation (CLO) transactions. C-IV AM outlined its strategies for handling problem loans, which include liquidation, note sales, discounted payoffs, and borrower negotiations. The company stated that it does not have primary responsibility for custody services of original loan documents but may maintain custody for enforcement actions. C-IV AM also indicated it does not have any material advancing rights or obligations with respect to the CMBS pools it services, though it may make property-related servicing advances in emergency situations.
