BANK 2021-BNK35 Announces Special Servicer Change for U.S. Steel Tower Loan

What Happened
BANK 2021-BNK35 filed an 8-K on Sept. 1, 2026 announcing that C‑IV Asset Management LLC (“C‑IV AM”) will act as special servicer for the U.S. Steel Tower mortgage loan and related pari passu/subordinate promissory notes (the “Applicable Non-Serviced Loan Combination”). This follows Greystone Servicing Company LLC’s sale on Sept. 1, 2026 of substantially all assets of its special servicing division to C‑IV AM (the “Sale Transaction”), after which C‑IV AM assumed the special servicer duties, responsibilities and liabilities arising post-closing.

Key Details

• Effective date: September 1, 2026.
• Transferee: C‑IV Asset Management LLC, a wholly owned subsidiary of C‑IV Capital Partners LLC.
• Transferor: Greystone Servicing Company LLC sold substantially all special servicing division assets to C‑IV AM.
• Operational continuity: substantially all key employees handling Greystone special servicing matters moved to C‑IV AM or its affiliate and continue performing the same duties.
• Servicing governance: servicing remains governed by the pooling and servicing agreement for the BANK 2021-BNK34 securitization (the Applicable PSA).
• C‑IV AM’s responsibilities: act as special servicer if the loan becomes specially serviced (including REO administration) and perform certain reviews/actions when the loan is not specially serviced.

Why It Matters
This change identifies who will handle workout, enforcement, and REO management for the U.S. Steel Tower loan going forward. Investors should note the effective date, the assignee (C‑IV AM), and that key servicing staff and existing PSA terms remain in place—factors that support continuity in loan administration but may affect how special servicing decisions are handled under the new servicer. No financial terms of the sale or changes to the underlying loan terms were disclosed in the filing.