BANK 2021-BNK31 Reports Change of Special Servicer to C‑IV Asset Management

What Happened
BANK 2021-BNK31 filed an 8‑K on September 2, 2026 reporting a change of special servicer. C‑IV Asset Management LLC (C‑IV AM) became the special servicer for the 605 Third Avenue Mortgage Loan and the McDonald’s Global HQ Mortgage Loan after Greystone Servicing Company LLC sold substantially all assets of its special servicing division to C‑IV AM in a transaction that closed on September 1, 2026. C‑IV AM assumed the duties, responsibilities and liabilities of the special servicer arising after the closing.

Key Details

• Effective date of transfer: September 1, 2026; 8‑K filed September 2, 2026.
• C‑IV AM ratings and standing: Morningstar DBRS “MOR CS2”, Fitch “CSS2”, on S&P’s Select Servicer list (U.S. Commercial Mortgage Special Servicer; “Average; Ranking Watch Positive”).
• Portfolio scope: As of June 30, 2026, Greystone was named special servicer on ~60 transactions (~1,928 first‑lien loans) with aggregate stated principal balance ≈ $20.7 billion; actively specially serviced loans ≈ $2.1 billion. C‑IV AM’s predecessor portfolio (as of 6/30/26) had an aggregate named CMBS portfolio balance ≈ $20,697.8 million and actively specially serviced balance ≈ $2,106.5 million.
• Transition details: Substantially all key special‑servicing employees moved from Greystone to C‑IV AM and will continue in substantially the same roles; all of Greystone’s named portfolio will transfer to C‑IV AM as of Sept 1, 2026 except two CLOs.

Why It Matters
A change in special servicer can affect how problem loans are handled (workouts, liquidations, enforcement), reporting and communications to certificateholders, and operational continuity. The filing emphasizes continuity — most staff, policies, and procedures transferred to C‑IV AM, and C‑IV AM cites established servicing experience and ratings. For investors in the trust certificates, this signals a managed transition with no identified material legal or financial issues that would, per C‑IV AM, materially affect its servicing performance. Continued monitoring of servicing reports and any future servicer notices is advised.