BANK5 2025-5YR14 Reports Change of Special Servicer to C‑IV Asset Management

What Happened

• BANK5 2025-5YR14 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 and the Redmond Town Center Mortgage Loan under the Benchmark 2025‑V14 pooling and servicing agreement.
• On September 1, 2026, Greystone Servicing Company LLC sold and conveyed substantially all assets of its special servicing division to C‑IV AM, and C‑IV AM assumed the duties, responsibilities and liabilities of the special servicer arising after the closing.

Key Details

• C‑IV AM is a Delaware LLC and a wholly owned subsidiary of C‑IV Capital Partners LLC; principal special servicing offices: 5221 N. O’Connor Blvd., Suite 800, Irving, TX.
• Ratings and lists: Morningstar DBRS “MOR CS2”, Fitch “CSS2”, and listed on S&P’s Select Servicer list (U.S. Commercial Mortgage Special Servicer; “Average; Ranking Watch Positive”).
• Greystone’s named special-servicer portfolio (as of 6/30/2026): ~60 transactions, ~1,928 first‑lien loans, aggregate stated principal ~$20.7 billion; 108 assets ($2.1 billion) were actively specially serviced. All of Greystone’s named portfolio will transfer to C‑IV AM as of Sept 1, 2026, except two CLOs.
• C‑IV AM history: since 2002 through 6/30/2026, has resolved/participated in resolution of 6,017 assets with aggregate principal ≈ $60.7 billion. C‑IV reports no servicer default/termination events and no material pending legal proceedings.

Why It Matters

• Special servicers handle problem loans (defaults, workouts, foreclosures) and therefore can materially affect recoveries and timing for certificateholders. This filing notifies investors of who will be making those decisions for the two named loans in the Benchmark 2025‑V14 deal.
• The transaction preserves continuity: most key special‑servicing employees moved from Greystone to C‑IV AM and will perform the same duties, and C‑IV AM holds established industry ratings and experience that the filing says should limit disruption. C‑IV AM also states its financial condition should not materially affect pool or certificate performance.