Barclays Commercial Mortgage Securities LLC filed a Form 8-K on September 1, 2026, announcing a change in the special servicer for the 11 West 42nd Street Mortgage Loan, which is part of the BBCMS Mortgage Trust 2023-5C23. The filing states that C-IV Asset Management LLC (C-IV AM) will assume the role of special servicer for this loan, replacing Greystone Servicing Company LLC.
The transition is the result of a sale transaction in which Greystone sold substantially all of the assets of its special servicing division to C-IV AM. The filing notes that the key employees from Greystone’s special servicing division have been retained by C-IV AM or its affiliates and will continue to perform their duties in the same capacity.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The filing provides details on the company’s operations and ratings, noting that it 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 of June 30, 2026, C-IV AM was the named special servicer for approximately 60 transactions, representing roughly 1,928 first-lien mortgage loans with an aggregate stated principal balance of approximately $20.7 billion. Of these, 33 were CMBS transactions with a balance of about $14.2 billion. The filing also includes a table detailing the company’s portfolio history, showing that as of June 30, 2026, the actively specially serviced portfolio had an unpaid principal balance of approximately $2.1 billion.
The filing confirms that C-IV AM has detailed policies and procedures for servicing, including a formal business continuity plan. It states that the company has not been the subject of a servicer event of default or termination event in any securitization transaction for which it acted as special servicer.
