BMO 2026-5C16 Mortgage Trust filed a Current Report on Form 8-K with the Securities and Exchange Commission on September 3, 2026. The filing details the issuance of Commercial Mortgage Pass-Through Certificates, Series 2026-5C16, pursuant to a Pooling and Servicing Agreement dated August 1, 2026. The transaction was closed on August 26, 2026.

The filing outlines the transfer of servicing and administration for three specific whole loans to a separate securitization transaction. On August 28, 2026, the Servicing Shift Lead Notes relating to these loans were contributed to the Benchmark 2026-V23 Securitization. This transfer moved the servicing obligations from the BMO 2026-5C16 Pooling and Servicing Agreement to the Benchmark 2026-V23 Pooling and Servicing Agreement.

The three loans transferred are:

The filing specifies the compensation structure for the new servicer, Deutsche Mortgage Asset Receiving Corporation. The Outside Special Servicer is entitled to a special servicing fee of 0.25% per annum, subject to a minimum monthly fee of $3,500. Additionally, the servicer earns a workout fee of 1.0% of interest and principal collections, capped at $1,000,000 per workout, and a liquidation fee of 1.0% of proceeds, also capped at $1,000,000.

Finally, the report mandates inspection requirements for the mortgaged properties. Properties with a principal balance of $2,000,000 or more must be inspected at least once every 12 months, while those with a balance below $2,000,000 must be inspected at least once every 24 months, commencing in 2027.