Wells Fargo CM Trust 2025-5C4 Appoints C-IV AM as Special Servicer

What Happened

• Wells Fargo Commercial Mortgage Trust 2025-5C4 filed an 8-K (Item 6.02) announcing that C‑IV Asset Management LLC (C‑IV AM) will act as special servicer for the Las Olas City Centre Mortgage Loan under the Benchmark 2025‑V14 pooling and servicing agreement.
• On September 1, 2026, Greystone Servicing Company LLC sold substantially all assets of its special servicing division to C‑IV AM; C‑IV AM assumed the special-servicing duties, and substantially all key Greystone special-servicing staff transferred to C‑IV AM and continue in the same roles.
• C‑IV AM is a subsidiary of C‑IV Capital Partners LLC, with principal special-servicing offices in Irving, Texas, and holds ratings of MOR CS2 (Morningstar DBRS), CSS2 (Fitch), and is on S&P’s Select Servicer list (ranked “Average; Ranking Watch Positive”).

Key Details

• Effective date of transfer: September 1, 2026.
• Greystone’s named special-servicer portfolio as of June 30, 2026: ~60 transactions (excl. 2 CLOs), ~1,928 first‑lien loans, aggregate stated principal ≈ $20.7 billion.
• Actively specially serviced assets in that portfolio as of June 30, 2026: ≈108 assets, aggregate stated principal ≈ $2.1 billion.
• C‑IV AM historical record: since 2002 (including predecessors) has resolved/participated in resolution of ~6,017 assets with aggregate principal ≈ $60.7 billion.

Why It Matters

• For certificateholders and retail investors, the special servicer handles distressed or problem loans (workouts, liquidations, enforcement). A change in special servicer can affect how problem loans are managed and the timing of recoveries.
• The transfer kept the same key servicing staff and moved a large servicing portfolio (except two CLOs) to C‑IV AM, which may reduce transition risk. C‑IV AM’s third‑party ratings and long track record are relevant indicators of its capability to perform servicing duties.
• The filing states C‑IV AM has no material pending legal proceedings, does not expect its financial condition to impair servicing, and generally lacks material advancing obligations—facts that bear on operational stability but do not guarantee outcomes for specific loans.