Citigroup Commercial Mortgage Trust 2015-GC35 Changes Special Servicer to C‑IV AM

What Happened
Citigroup Commercial Mortgage Trust 2015-GC35 filed an 8‑K (Sept. 1, 2026) disclosing that Greystone Servicing Company LLC sold substantially all assets of its special servicing division to C‑IV Asset Management LLC (C‑IV AM), and C‑IV AM has assumed all special servicer duties under the trust’s Pooling and Servicing Agreement effective September 1, 2026. The Assignment and Assumption Agreement (Special Servicing) is attached as Exhibit 20.1 to the filing.

Key Details

• Effective date: September 1, 2026; parties: Greystone Servicing Company LLC → C‑IV Asset Management LLC.
• Portfolio impact: Greystone was named special servicer on ~60 transactions (as of June 30, 2026) covering ~1,928 first‑lien loans with an aggregate stated principal balance of about $20.7 billion; 108 assets ($2.1 billion) were actively in special servicing as of that date.
• C‑IV AM credentials: Morningstar DBRS rating “MOR CS2,” Fitch rating “CSS2,” on S&P’s Select Servicer list (U.S. Commercial Mortgage Special Servicer, “Average; Ranking Watch Positive”); since 2002 through June 30, 2026 C‑IV (including predecessors) has resolved 6,017 assets ($60.7 billion principal).
• Operational continuity: substantially all key Greystone special‑servicing employees moved to C‑IV AM and will perform the same duties; C‑IV AM says it will not be primary custodian of original loan documents and has no material pending legal proceedings affecting its servicing role. C‑IV AM is an affiliate of a directing certificateholder that purchased bonds in this transaction.

Why It Matters
A change in the special servicer can affect how problem loans are handled and recoveries are pursued, which can influence cash flows to certificateholders. This filing signals minimal disruption: the transfer keeps the same key staff, C‑IV AM has recognized servicer ratings and a substantial track record, and the change is documented by an Assignment and Assumption Agreement (Exhibit 20.1). Retail investors should note the effective date (Sept. 1, 2026), the portfolio size involved (~$20.7B named portfolio, ~$2.1B actively specially serviced), and the disclosed relationship between C‑IV AM and a directing certificateholder when assessing potential impacts on pool performance.