M&A - Benchmark 2018-B1 Mortgage Trust

Form Type: 8-K

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003143

Filing Summary: This 8-K report from Benchmark 2018-B1 Mortgage Trust, filed on February 28, 2025, announces a significant acquisition in which Trimont LLC will act as the master servicer following its purchase of the third-party servicing segment of Wells Fargo Bank’s commercial mortgage servicing business. This CMS transaction involves the integration of personnel and systems from Wells Fargo into Trimont, where service responsibilities under previous agreements will be transferred. The report details Trimont's operational capabilities and the transition plan, including the support services provided by Wells Fargo during a transition period. The impact of this acquisition on key servicing ratings and asset management functions is highlighted, including the anticipated integration of CMS policies and procedures into existing practices. There are no known legal proceedings against Trimont that could materially affect certificateholders nor adverse conditions that could impact performance under the servicing agreements. The report underscores Trimont’s comprehensive servicing capabilities, experience, and strategic adjustments following the CMS Acquisition Closing Date, aiming at upholding service quality and compliance with industry standards.

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