8-K 1 2016-p5_msci_2016-ubs11.htm 8-K 8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: April 9, 2024
(Date of earliest event reported)

 

Central Index Key Number of the issuing entity: 0001684093

Citigroup Commercial Mortgage Trust 2016-P5

(exact name of the issuing entity as specified in its charter)

 

Central Index Key Number of the depositor: 0001258361

Citigroup Commercial Mortgage Securities Inc.

(exact name of the depositor as specified in its charter)

Citigroup Global Markets Realty Corp.

(Central Index Key Number: 0001541001)

Barclays Bank PLC

(Central Index Key Number: 0000312070)

Starwood Mortgage Funding V LLC

(Central Index Key Number: 0001682509)

Macquarie US Trading LLC d/b/a Principal Commercial Capital

(Central Index Key Number: 0001634437)

(Exact names of sponsors as specified in their respective charters)

 

New York
(State or other jurisdiction of
incorporation or organization of

the issuing entity)

333-207132-07

(Commission File Number of the issuing entity)

35-7158173

81-4184971

81-4208950

(I.R.S. Employer

Identification Numbers)

c/o Citibank, N.A.

as Certificate Administrator

388 Greenwich Street Trading, 4th Floor

New York, NY

(Address of principal executive offices of the issuing entity)

10013

(Zip Code)

Registrant’s telephone number, including area code:

(212) 816-5614

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 8.01 Other Events.


The 132 West 27th Street mortgage loan, an asset of Citigroup Commercial Mortgage Trust 2016-P5 (the “Issuing Entity”), is being serviced pursuant to the pooling and servicing agreement, dated as of August 1, 2016 (the “MSCI 2016-UBS11 PSA”), by and among Morgan Stanley Capital I Inc., as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer, and Wells Fargo Bank, National Association, as certificate administrator and as trustee, which governs the issuance of the Morgan Stanley Capital I Trust 2016-UBS11, Commercial Mortgage Pass-Through Certificates, Series 2016-UBS11. The MSCI 2016-UBS11 PSA was filed as Exhibit 4.6 to the Current Report on Form 8-K with respect to the Issuing Entity, filed on October 18, 2016 under Commission File No. 333-207132-07.

Effective as of April 9, 2024, CWCapital Asset Management LLC has been terminated as special servicer under the MSCI 2016-UBS11 PSA, and Greystone Servicing Company LLC has been appointed to act as successor special servicer under the MSCI 2016-UBS11 PSA. A copy of the related Acknowledgement of Special Servicer, dated April 9, 2024 is attached hereto as Exhibit 20.1.

Capitalized terms used but not defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement dated as of October 1, 2016 relating to the Issuing Entity, filed as Exhibit 4.1 to the Current Report on Form 8-K with respect to the Issuing Entity dated October 18, 2016 under Commission File No. 333-207132-07.

 


 

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.

Description

Exhibit 20.1

Acknowledgment of Special Servicer, dated April 9, 2024

 

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Citigroup Commercial Mortgage Securities Inc.
(Depositor)

/s/ Richard Simpson

Richard Simpson, President

 

Date: April 9, 2024