M&A - Benchmark 2020-B18 Mortgage Trust

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003370

Filing Summary: Benchmark 2020-B18 Mortgage Trust reports a significant corporate action related to the acquisition of Trimont LLC's third-party servicing segment from Wells Fargo Bank, National Association. The acquisition was finalized on March 1, 2025, marking a strategic move to enhance Benchmark's loan servicing capabilities. As part of this CMS Transaction, Trimont will become the master servicer for loans previously managed by Wells Fargo, although Wells Fargo will retain servicing obligations for certain loans. The document details Trimont's extensive servicing history and provides insight into its operations, which will integrate CMS's operational structure. Transition Services Agreement (TSA) with Wells Fargo will help facilitate the integration of CMS, allowing for continued support for a period of 12 months post-acquisition. The report also outlines Trimont's servicer ratings by major agencies and its operational capacity, including a large portfolio of commercial and multifamily mortgage loans. The document addresses the potential impacts and expectations of the servicing operations following the acquisition.