Wells Fargo Commercial Mortgage Securities, Inc. has announced the appointment of C-IV Asset Management LLC as the special servicer for the BANK5 2023-5YR4 transaction. This change is effective September 1, 2026, and involves the transfer of special servicing duties for two specific loans: the 11 West 42nd Street Mortgage Loan and the Short Pump Town Center Mortgage Loan.
The appointment follows the sale of Greystone Servicing Company LLC’s special servicing division to C-IV AM. Under this transaction, C-IV AM assumes all duties, responsibilities, and liabilities of the special servicer for the related servicing agreement. Key employees from Greystone’s special servicing division have transferred to C-IV AM or its affiliate to ensure continuity of operations.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The firm 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.
In addition to the two loans in the BANK5 2023-5YR4 deal, C-IV AM will assume the special servicing portfolio of Greystone. As of June 30, 2026, Greystone was the special servicer for approximately 60 transactions, representing roughly 1,928 first-lien mortgage loans with an aggregate principal balance of approximately $20.7 billion. This portfolio includes assets in multifamily, office, retail, hospitality, and industrial sectors.
C-IV AM has detailed policies and procedures for servicing obligations and maintains a formal business continuity plan. The firm states it has not been the subject of a servicer event of default in any securitization transaction for which it acted as special servicer.
