Wells Fargo Commercial Mortgage Trust 2017-C38 filed an 8-K on September 1, 2026, to update the details regarding the special servicer for the 123 William Street Mortgage Loan. The filing reports that C-IV Asset Management LLC (C-IV AM) will act as the special servicer for this loan under the WFCM 2017-RB1 pooling and servicing agreement.
The change in servicer is the result of a transaction completed on September 1, 2026. Greystone Servicing Company LLC sold and conveyed substantially all of the assets of its special servicing division to C-IV AM. As a result of this transaction, C-IV AM assumed all duties, responsibilities, and liabilities of the special servicer under the related servicing agreement.
C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC. The filing notes that key employees from Greystone’s special servicing division are now employed by C-IV AM or its affiliate and are performing the same duties in substantially the same capacity. The principal special servicing offices of C-IV AM are located at 5221 N. O’Connor Boulevard, Suite 800, Irving, Texas 75039.
The filing provides background on C-IV AM’s operations and ratings. As of June 30, 2026, C-IV AM was the named special servicer for approximately 60 transactions representing about 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 a balance of approximately $14.2 billion. C-IV AM holds a special servicer rating of “MOR CS2” from Morningstar DBRS and “CSS2” from Fitch, and is listed as a U.S. Commercial Mortgage Special Servicer on S&P’s Select Servicer list.
Regarding the portfolio being transferred, the filing includes a table detailing the specially serviced commercial and multifamily mortgage loans acquired by C-IV AM. As of June 30, 2026, the named specially serviced portfolio had an aggregate unpaid principal balance of approximately $20.7 billion, while the actively specially serviced portfolio was approximately $2.1 billion.
The filing also states that C-IV AM has detailed policies and operating procedures to maintain compliance with servicing obligations and has a formal business continuity plan. It notes that C-IV AM has not been the subject of a servicer event of default or termination event in any securitization transaction for which it acted as special servicer.
