BANK 2023-BNK45 Changes Special Servicer to C‑IV Asset Management

What Happened
BANK 2023-BNK45 filed an 8‑K (dated 2026-09-02) announcing that C‑IV Asset Management LLC (C‑IV AM) will act as special servicer for The Boulders Resort mortgage loan under the BANK 2022‑BNK43 pooling and servicing agreement. This follows a Sale Transaction on September 1, 2026, in which Greystone Servicing Company LLC sold substantially all assets of its special servicing division to C‑IV AM, and C‑IV AM assumed the special‑servicer duties and liabilities for matters arising after the closing.

Key Details

• Effective September 1, 2026: Greystone’s special servicing assets (except two CLOs) were transferred to C‑IV AM; substantially the same key special‑servicing employees moved to C‑IV AM.
• Ratings and status: C‑IV AM has a Morningstar DBRS special servicer rating of “MOR CS2”, a Fitch rating of “CSS2”, and is on S&P’s Select Servicer list (ranked “Average; Ranking Watch Positive”).
• Portfolio scale (as of 6/30/2026): Greystone was named special servicer on ~60 transactions covering ~1,928 first‑lien loans with ~$20.7 billion aggregate stated principal; 108 assets ($2.1 billion) were actively specially serviced. C‑IV AM’s named CMBS portfolio unpaid principal was ~$20.7 billion as of 6/30/2026; actively specially serviced balance was ~$2.1 billion.
• Operational notes: C‑IV AM is a wholly‑owned subsidiary of C‑IV Capital Partners, maintains documented policies, business continuity plans, may engage consultants for property inspections, does not expect to use sub‑servicers for this transaction, and does not anticipate its financial condition will materially affect servicing performance. C‑IV AM reports no servicer defaults/terminations in its securitizations and no material pending legal proceedings affecting certificateholders.

Why It Matters
This is a servicing transfer — not a change to the loan terms — but it affects who will manage problem loans, workouts, foreclosures and day‑to‑day special‑servicing actions for The Boulders Resort loan and related assets. Investors should note the effective date (Sept 1, 2026), C‑IV AM’s ratings and track record (including historical resolution of ~6,017 assets totaling ~$60.7 billion through 6/30/2026), and that key staff and most portfolio assignments moved from Greystone to C‑IV AM. The filing states C‑IV AM does not expect its financial condition or any pending legal matters to materially affect its servicing obligations.