BANK 2021-BNK34, a commercial mortgage-backed security issued by Wells Fargo Commercial Mortgage Securities, Inc., has announced a change in its special servicer. C-IV Asset Management LLC (C-IV AM) will assume the role of special servicer for the U.S. Steel Tower Mortgage Loan, effective September 1, 2026.
The transition is the result of a sale transaction in which Greystone Servicing Company LLC sold substantially all of the assets of its special servicing division to C-IV AM. Under the terms of the related pooling and servicing agreement, C-IV AM assumed all duties, responsibilities, and liabilities of the special servicer following the closing of the transaction.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The company stated that substantially all key employees from Greystone’s special servicing division have transferred to C-IV AM or its affiliate and will continue performing the same duties. The principal office of C-IV AM is located in Irving, Texas.
According to the filing, C-IV AM 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 with a ranking of “Average; Ranking Watch Positive.”
As of June 30, 2026, Greystone was the named special servicer for approximately 60 transactions, representing an aggregate stated principal balance of approximately $20.7 billion. This portfolio includes multifamily, office, retail, hospitality, industrial, and other income-producing properties. Approximately 108 assets with a principal balance of about $2.1 billion were in active special servicing at that time.
The filing notes that C-IV AM has not been the subject of a servicer event of default or termination event in any securitization transaction where it acted as special servicer. The company also stated that it does not have any material advancing rights or obligations with respect to the CMBS pools for which it acts as special servicer, though it may have the right to make property-related servicing advances in emergency situations.
