Morgan Stanley Capital I Trust 2019-L3 filed a Form 8-K on September 21, 2026, announcing a change in its special servicer. Effective as of September 21, 2026, Argentic Services Company LP (ASC) replaced Situs Holdings, LLC as the special servicer for the ILPT Industrial Portfolio mortgage loan and related promissory notes under the securitization’s pooling and servicing agreement.
The appointment was made at the direction of Blue Owl Real Estate Debt Advisors LLC, the applicable directing certificateholder. As the special servicer, ASC will be responsible for the servicing and administration of the loan if it becomes specially serviced, as well as processing and performing reviews of material actions when the loan is not specially serviced.
Argentic Services Company LP is a limited partnership formed in 2019 and majority-owned by funds managed by Elliott Investment Management L.P. As of December 31, 2025, Elliott manages approximately $79.8 billion in assets. The company maintains its principal office in Richardson, Texas, and utilizes a proprietary system called RealINSIGHT for loan and real estate underwriting, asset management, and risk surveillance.
According to the filing, as of June 30, 2026, ASC managed a portfolio of 1,801 commercial and multifamily mortgage loans with an approximate unpaid principal balance of $56.05 billion. The company holds commercial special servicer ratings of “CSS2-” from Fitch, “Above Average” from S&P, and “MOR CS2” from Morningstar DBRS.
The filing notes that ASC does not believe its financial condition will have any adverse effect on the performance of its duties under the pooling and servicing agreement or the Certificates. It also states that no securitization transaction in which ASC has acted as special servicer has experienced a servicer termination event due to its actions.
