BMO 2023-5C2 Mortgage Trust Announces Special Servicer Change

What Happened

• BMO 2023-5C2 Mortgage Trust filed an 8-K (Item 8.01) reporting that, effective September 1, 2026, C-IV Asset Management LLC succeeded Greystone Servicing Company LLC as the special servicer under the Pooling and Servicing Agreement (the BMO 2023-5C2 PSA). The succession covers the special servicing role under the PSA relating to BANK5 2023-5YR3, which services two mortgage loans owned by the trust: the 11 West 42nd Street mortgage loan and the Short Pump Town Center mortgage loan. An Assignment and Assumption Agreement (Special Servicing), dated September 1, 2026, was filed as Exhibit 20.1 (Item 9.01).

Key Details

• Effective date: September 1, 2026.
• Successor special servicer: C-IV Asset Management LLC; predecessor: Greystone Servicing Company LLC.
• Affected servicing arrangement: special servicer role under the BANK5 2023-5YR3 servicing agreement.
• Assets affected: the 11 West 42nd Street mortgage loan and the Short Pump Town Center mortgage loan (each is an asset of the Issuing Entity).

Why It Matters

• For investors in the trust, this is an operational change in who handles special servicing responsibilities (loan workouts, enforcement, modifications) for two specific mortgage loans in the pool. The filing documents the formal transfer of those duties but does not report any financial results or changes to the trust’s securities. Investors should note the new servicer name for communications and monitoring of any future servicing actions related to those loans.