BMO 2025-5C9 Mortgage Trust Appoints New Special Servicer

What Happened

• BMO 2025-5C9 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 successor special servicer in the capacity described in the filing.
• The change relates to servicing under the Benchmark 2025-V14 pooling and servicing agreement for the Benchmark 2025-V14 Mortgage Trust and specifically affects the Las Olas City Centre mortgage loan and The Link mortgage loan, each an asset of the Issuing Entity.
• An Assignment and Assumption Agreement (Special Servicing), dated September 1, 2026, is attached as Exhibit 20.1 to the filing.

Key Details

• Effective date: September 1, 2026.
• Successor special servicer: C‑IV Asset Management LLC; predecessor: Greystone Servicing Company LLC.
• Loans affected: Las Olas City Centre mortgage loan and The Link mortgage loan (assets of the Issuing Entity).
• Document filed: Assignment and Assumption Agreement (Special Servicing) included as Exhibit 20.1.

Why It Matters

• A change in special servicer affects who manages workout, enforcement and recovery actions on the specified loans; this can influence how those loans are administered going forward.
• The 8-K does not disclose any direct financial impact, changes to loan terms, or other operational changes beyond the servicer succession and the attached assignment agreement.
• Investors should review Exhibit 20.1 for the agreement details and watch for follow-up filings that may disclose material impacts on cash flows or loan recoveries.