M&A - BBCMS Mortgage Trust 2021-C11

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003225

Filing Summary: Trimont LLC has been appointed as the master servicer under the pooling and servicing agreement. As of March 1, 2025, Trimont completed the acquisition of the CMS segment from Wells Fargo Bank, enhancing its capabilities and portfolio. The CMS Transaction excludes servicing rights related to loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which will remain with Wells Fargo. Trimont's servicer ratings by various rating agencies are outlined, with a majority placed on positive or stable trends during the integration period of the CMS Transaction. The document details operational restructuring, expected transitions, and integration timelines post-acquisition, including the use of McCracken Financial Solutions software for servicing operations. Overall, the acquisition increases Trimont's servicing portfolio significantly, incorporating various commercial and multifamily mortgage loans.