Wells Fargo Commercial Mortgage Securities, Inc. filed a Current Report on Form 8-K dated September 1, 2026, regarding a change in special servicing arrangements. The filing discloses that C-IV Asset Management LLC (C-IV AM) will assume the special servicing duties for the El Con Center Mortgage Loan under the WFCM 2019-C51 pooling and servicing agreement.
The transfer is part of a broader transaction in which Greystone Servicing Company LLC sold and conveyed substantially all assets of its special servicing division to C-IV AM. This transfer occurred on September 1, 2026, with C-IV AM assuming all duties, responsibilities, and liabilities of the special servicer arising after the closing. The filing notes that key employees from Greystone’s special servicing division have transitioned to C-IV AM or its affiliates to continue performing the same duties.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The filing provides details on the company's ratings and standing, noting it 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, ranked “Average; Ranking Watch Positive.”
The filing includes a portfolio table detailing the assets acquired as of June 30, 2026. As of that date, C-IV AM was the named special servicer for approximately 60 transactions, representing roughly 1,928 first-lien mortgage loans with an aggregate stated principal balance of approximately $20.7 billion. Of these, 33 were Commercial Mortgage-Backed Securities (CMBS) transactions with an aggregate balance of about $14.2 billion. The portfolio includes multifamily, office, retail, hospitality, industrial, and other income-producing properties across the United States.
Approximately 108 assets with a stated principal balance of roughly $2.1 billion were in active special servicing as of June 30, 2026. Since its inception in 2002 through June 30, 2026, C-IV AM has resolved or participated in the resolution of 6,017 total assets with an aggregate principal balance of approximately $60.7 billion.
The filing states that C-IV AM has not been the subject of a servicer event of default or termination event in any securitization transaction involving a commercial or multifamily mortgage loan for which it acted as special servicer. The company also noted 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.
