BANK5 2024-5YR8 8-K

What Happened
BANK5 2024-5YR8 filed an 8‑K (Item 6.02) reporting that, effective July 2, 2026, Greystone Servicing Company LLC was removed as special servicer and Torchlight Loan Services, LLC was appointed successor special servicer under the Pooling and Servicing Agreement. Torchlight will handle servicing and administration of the Specially Serviced Loans and REO Properties, except for any Non‑Serviced Mortgage Loan or Excluded Loan.

Key Details

• Change effective date: July 2, 2026 (removal of Greystone; appointment of Torchlight).
• Torchlight profile: Delaware LLC, principal office at 90 Park Ave, 20th Floor, New York, NY; servicing CMBS since Dec 2007 (predecessor activity since 1998).
• Portfolio scale (as of 3/31/2026): Torchlight specially serviced ~55 loans with an approximate unpaid principal/face value in excess of $3.5 billion; named/aggregate CMBS portfolio totals shown up to ~$24.16 billion (by 3/31/2026 for named pools).
• Other facts: Torchlight reports resolving over $12.2 billion of U.S. commercial/multifamily loans over 28 years, has no material primary advancing obligations on the CMBS pools, no material pending legal proceedings, and is not an affiliate or current holder of this Issuing Entity.

Why It Matters
A special servicer manages troubled loans, workouts and REO actions for the securitization—so this change may affect how specially serviced loans in the BANK5 2024-5YR8 pool are handled and the timing of recoveries. The filing emphasizes Torchlight’s experience and scale (dozens of loans and billions in balance), and notes Torchlight does not expect its financial condition to impair performance because it lacks material advancing obligations. For certificateholders, the appointment is an operational change (not a sale or change to the underlying loan terms) and investors should watch future disclosures for any material developments in workouts, enforcement actions or recoveries handled by the new special servicer.