M&A - Benchmark 2020-B16 Mortgage Trust
Form Type: 8-K
Filing Date: 2025-03-03
Corporate Action: Acquisition
Type: New
Accession Number: 000188852425003347
Filing Summary: Benchmark 2020-B16 Mortgage Trust is reporting a significant corporate action regarding the acquisition of a third party servicing segment (CMS) from Wells Fargo Bank, National Association, by Trimont LLC. This transaction, referred to as the CMS Transaction, marks Trimont's entry into a new operational phase as it becomes responsible for servicing previously held commercial mortgage loans from Wells Fargo. It highlights the integration of CMS's operations, employees, and technology into Trimont's framework. Trimont has outlined its transition plan, which includes the use of a Transition Services Agreement with Wells Fargo to receive support services during the initial integration period, allowing for a seamless continuation of servicing operations and technology management.
Additional details:
Central Index Key Of Issuing Entity: 0001797288
Central Index Key Of Registrant: 0001013454
Central Index Key Of Sponsor 1: 0001541294
Central Index Key Of Sponsor 2: 0000835271
Central Index Key Of Sponsor 3: 0001701238
Cms Acquisition Closing Date: 2025-03-01
Servicer Ratings: {"fitch_primary_servicer":"CPS2 Strong","s_and_p_primary_servicer":"MOR CS2","morningstar_dbrs_primary_servicer":"MOR CS2","fitch_master_servicer":"CMS3+ Average","morningstar_dbrs_master_servicer":"CS3"}
Signatories: [{"name":"Matt Smith","title":"Director"},{"name":"R. Chris Jones","title":"Managing Director"}]
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