Benchmark 2025-V17 Mortgage Trust Appoints Argentic as Special Servicer

What Happened

• Benchmark 2025-V17 Mortgage Trust filed an 8-K on August 18, 2026 announcing that Argentic Services Company LP will act as special servicer for the Vertex HQ mortgage loan and each related pari passu and/or subordinate promissory note (the "Vertex HQ Non-Serviced Loan Combination"), effective August 18, 2026. Argentic replaces Greystone Servicing Company LLC in this role. The appointment was made at the direction of Blue Owl Real Estate Debt Advisors LLC, the controlling class representative under the VRTX 2025-HQ trust and servicing agreement (the "VRTX 2025-HQ TSA").

Key Details

• Effective date: August 18, 2026.
• New special servicer: Argentic Services Company LP; outgoing servicer: Greystone Servicing Company LLC.
• Scope: Vertex HQ mortgage loan and related pari passu/subordinate promissory notes (the "Vertex HQ Non-Serviced Loan Combination"); includes servicing and administration if the loan becomes specially serviced and any related REO.
• Governing agreement: Servicing remains subject to the VRTX 2025-HQ TSA; Argentic was appointed at the direction of Blue Owl Real Estate Debt Advisors LLC (controlling class representative).

Why It Matters

• The special servicer handles workouts, defaults, foreclosures and management of real estate owned (REO) for troubled loans; this filing informs investors which firm (Argentic) will perform those duties for the Vertex HQ loan going forward. The change may affect who makes enforcement and REO decisions, but the servicing relationship continues to be governed by the existing VRTX 2025-HQ TSA and was made under the authority of the controlling class representative.