M&A - BANK5 Trust 2024-5YR6

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003515

Filing Summary: BANK5 Trust 2024-5YR6 filed a Form 8-K to report a significant corporate action involving the acquisition of the third-party servicing segment of Wells Fargo Bank's commercial mortgage servicing business by Trimont LLC. This transaction, known as the CMS Transaction, led to the transfer of certain rights and obligations of Wells Fargo as a servicer under related servicing agreements. Trimont will now act as the master servicer, and the transition is supported by a Transition Services Agreement with Wells Fargo for a period of 12 months, with options for extensions. The CMS Acquisition Closing Date is set for March 1, 2025, marking a pivotal event in Trimont's servicing capacity and portfolio growth.