Wells Fargo CM Trust 2025-5C7 Issues Certificates; Intercreditor Amended

What Happened
Wells Fargo Commercial Mortgage Securities, Inc. reported (8-K filed Aug 31, 2026) that it caused issuance of the Wells Fargo Commercial Mortgage Trust 2025-5C7 pass‑through certificates on December 18, 2025. The filing also discloses an Amended and Restated Intercreditor Agreement dated August 12, 2026 among multiple noteholders and trustees that governs rights and priority for the Crossgates Mall mortgage loan within the related whole loan structure.

Key Details

• Certificates issued: Wells Fargo Commercial Mortgage Trust 2025-5C7 Commercial Mortgage Pass‑Through Certificates, Series 2025-5C7 (issued Dec 18, 2025) represent the entire beneficial ownership of the trust.
• Crossgates Mall loan: the Crossgates Mall Mortgage Loan is part of a whole loan composed of two promissory notes that are assets of the Issuing Entity, six pari passu promissory notes that are not assets of the Issuing Entity, and one subordinate promissory note that is an asset of the Issuing Entity.
• Intercreditor amendment (Aug 12, 2026): the Amended and Restated Intercreditor Agreement (filed as Exhibit 4.1) (i) reflects the June 9, 2026 split of Original Note A‑1 into Note A‑1‑1, A‑1‑2 and A‑1‑3, (ii) permanently designates Note A‑2 (included in the Issuing Entity) as the Lead Securitization Note, and (iii) sets which pooling & servicing agreement will govern certain servicing and litigation‑control matters if 3650 REIT Loan Servicing LLC (or an affiliate) becomes Special Servicer.
• Parties: signatories include UBS AG New York Branch and Computershare Trust Company, N.A., acting for holders of various notes and certificates across related securitizations.

Why It Matters
This filing clarifies the ownership and legal relationships among the trust, the Crossgates Mall loan pieces, and other noteholders. The amended intercreditor agreement reassigns which note is the lead securitization note and updates priority/servicing governance after the split of Note A‑1 — changes that determine which holders have control over key decisions (including servicing and litigation) related to the asset. For certificate holders and other investors, these items affect payment priority, governance rights, and which contractual rules apply if a new special servicer is appointed.