BANK5 2023-5YR2 Announces Special Servicer Change for Two Loans

What Happened
BANK5 2023-5YR2 filed an 8-K (Item 8.01) reporting that, effective September 1, 2026, C-IV Asset Management LLC ("C-IV AM") will act as special servicer for the Heritage Plaza mortgage loan and the 6330 West Loop South mortgage loan and related pari passu and/or subordinate promissory notes (the "Applicable Non-Serviced Loan Combinations"). On September 1, 2026, Greystone Servicing Company LLC ("Greystone") sold and conveyed substantially all assets of its special servicing division to C-IV AM (the "Sale Transaction"), and C-IV AM assumed the special-servicer duties, responsibilities and liabilities arising after the closing.

Key Details

• Effective date: September 1, 2026.
• Loans affected: Heritage Plaza mortgage loan and 6330 West Loop South mortgage loan (and related promissory notes).
• Transaction: Greystone sold substantially all special-servicing assets to C-IV AM; C-IV AM assumed post-closing special-servicer obligations.
• Organization: C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC; substantially all key employees who performed Greystone special-servicing duties moved to C-IV AM or its affiliate and continue in similar roles.
• Governance: Servicing remains governed by the applicable pooling and servicing agreement for the BANK5 2023-5YR3 securitization (the "Applicable PSA").

Why It Matters
This filing notifies investors that the party responsible for special servicing decisions (including handling of specially serviced loans and related real estate-owned properties) has changed to C-IV AM. Operational continuity may be supported by the transfer of key employees, and the servicing rights and procedures remain subject to the existing PSA. Investors in the related securitization should note the change in servicer contact and oversight for these loan combinations, which can affect how modifications, workouts, or REO dispositions are handled under special servicing.