UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 24, 2026
Date of Report (Date of Earliest Event Reported)

Central Index Key Number of the issuing entity: 0001984246
BMO 2023-5C1 MORTGAGE TRUST
(Exact name of issuing entity)

Central Index Key Number of the registrant: 0001861132
BMO Commercial Mortgage Securities LLC
(Exact name of registrant as specified in its charter)

Central Index Key Number of the sponsor: 0000927971
Bank of Montreal
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001840727
3650 Real Estate Investment Trust 2 LLC
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001701238
Citi Real Estate Funding Inc.
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001755531
Societe Generale Financial Corporation
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001541294
German American Capital Corporation
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001541502
Goldman Sachs Mortgage Company
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001548405
Starwood Mortgage Capital LLC
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001592182
LMF Commercial, LLC
(Exact name of sponsor as specified in its charter)

Central Index Key Number of the sponsor: 0001089877
KeyBank National Association
(Exact name of sponsor as specified in its charter)

New York		333-255934-06		38-4279403 38-4279404
(State or other jurisdiction of incorporation of issuing entity)		(Commission File Number of issuing entity)		(I.R.S. Employer Identification Numbers)

c/o Computershare Trust Company, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity) (Zip Code)

(212) 885-4000
Registrant's Telephone number, including area code

Former name or former address, if changed since last report: Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised Financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 8.01 Other Events.

Reference is hereby made to the pooling and servicing agreement (the “BMO 2023-5C1 PSA”) dated as of August 1, 2023, relating to the BMO 2023-5C1 Mortgage Trust (the “Issuing Entity”). The BMO 2023-5C1 PSA was filed as Exhibit 4.1 to the Current Report on Form 8-K with respect to the Issuing Entity, filed on August 16, 2023 under Commission File Number 333-255934-06. Capitalized terms used but not defined herein shall have the meanings assigned to them in the BMO 2023-5C1 PSA.

The Mortgage Loans secured by the Mortgaged Properties identified on the Mortgage Loan Schedule as Oxmoor Center and Select Parking NYC Portfolio respectively, each an asset of the Issuing Entity, are being serviced pursuant to the pooling and servicing agreement (the “Benchmark 2023-V3 PSA”), dated as of July 1, 2023, between GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Greystone Servicing Company LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer, and Computershare Trust Company, National Association, as certificate administrator and as trustee, which governs the issuance of the Benchmark 2023-V3 Mortgage Trust, Commercial Mortgage Pass-Through Certificates. The Benchmark 2023-V3 PSA was filed as Exhibit 4.4 to the Current Report on Form 8-K with respect to the Issuing Entity, filed on August 16, 2023 under Commission File Number 333-255934-06.

Pursuant to Section 7.01(d) of the Benchmark 2023-V3 PSA, the directing holder under the Benchmark 2023-V3 PSA has terminated Greystone Servicing Company LLC as special servicer under the Benchmark 2023-V3 PSA, and has appointed 3650 REIT Loan Servicing LLC to act as successor special servicer under the Benchmark 2023-V3 PSA effective as of February 24, 2026. A copy of the related Special Servicer Acknowledgement and Assumption dated February 24, 2026 is attached hereto as Exhibit 20.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

Exhibit 20.1 Special Servicer Acknowledgement and Assumption, dated February 24, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BMO Commercial Mortgage Securities LLC
(Depositor)

/s/ Paul Vanderslice
Paul Vanderslice, Chief Executive Officer

Date: February 24, 2026

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

BMO 2023-5C1 Mortgage Trust 8-K