GS Mortgage Securities Trust 2019-GC40 has filed a Current Report on Form 8-K to announce a change in the special servicing arrangement for one specific loan within its asset pool. The loan, identified as the 700 Tech Court Mortgage Loan, constitutes approximately 1.5% of the trust's assets as of its cut-off date.
The change in servicer is necessitated by a conflict of interest arising from the loan's ownership structure. LNR Partners, LLC, the Special Servicer under the trust's pooling and servicing agreement, recently learned that an affiliate of LNR became the borrower for the 700 Tech Court Mortgage Loan through a loan assumption on or about June 11, 2021. Under the terms of the agreement, this affiliation classifies LNR as a Borrower Party, making the loan an “Excluded Special Servicer Loan.”
Pursuant to Section 7.01(g) of the GSMS 2019-GC40 PSA, LNR resigned as Special Servicer solely with respect to this loan. The resignation was effective upon the exercise of reasonable efforts and the selection of a replacement. Midland Loan Services, a Division of PNC Bank, National Association, has been appointed as the Excluded Special Servicer for the 700 Tech Court Mortgage Loan. Midland’s principal servicing office is located at 10851 Mastin Street, Building 82, Suite 300, Overland Park, Kansas 66210.
The change is effective as of September 18, 2026. LNR Partners, LLC will continue to serve as the Special Servicer for the Issuing Entity regarding all other Mortgage Loans and Serviced Mortgage Loans.
