Form 8-K CITIGROUP COMMERCIAL For: Apr 13

 

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 13, 2021
(Date of earliest event reported)

 

Central Index Key Number of the issuing entity: 0001715824

Citigroup Commercial Mortgage Trust 2017-P8

(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)

 

Citi Real Estate Funding Inc.

(Central Index Key Number: 0001701238)

Barclays Bank PLC

(Central Index Key Number: 0000312070)

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

(Central Index Key Number: 0001634437)

Starwood Mortgage Funding V LLC

(Central Index Key Number: 0001682509)

Citigroup Global Markets Realty Corp.

(Central Index Key Number: 0001541001)

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

 

c/o Citibank, N.A.

as Certificate Administrator

388 Greenwich Street, 14th 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:

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 245 Park Avenue Mortgage Loan, an asset of Citigroup Commercial Mortgage Trust 2017-P8 (the “Issuing Entity”), is being serviced pursuant to the trust and servicing agreement, dated as of May 30, 2017 (the “245 Park Avenue Trust 2017-245P TSA”), between J.P. Morgan Chase Commercial Mortgage Securities Corp., as depositor, Wells Fargo Bank, National Association, as servicer, AEGON USA Realty Advisors, LLC, as special servicer, Wells Fargo Bank, National Association, as certificate administrator, Wilmington Trust, National Association, as trustee, and Trimont Real Estate Advisors, LLC, as operating advisor, which governs the issuance of the 245 Park Avenue Trust 2017-245P, Commercial Mortgage Pass-Through Certificates, Series 2017-245P. The 245 Park Avenue Trust 2017-245P TSA was filed as Exhibit 4.10 to the Current Report on Form 8-K with respect to the Issuing Entity, dated September 29, 2017 and filed with the Securities and Exchange Commission on September 29, 2017 under Commission File No. 333-207132-14.

Effective as of April 13, 2021, AEGON USA Realty Advisors, LLC has been removed as special servicer under the 245 Park Avenue Trust 2017-245P TSA, and Situs Holdings, LLC has been appointed to act as successor special servicer under the 245 Park Avenue Trust 2017-245P TSA. A copy of the related acknowledgement and acceptance of special servicer dated April 13, 2021 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 September 1, 2017 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 September 29, 2017 and filed with the Securities and Exchange Commission on September 29, 2017 under Commission File No. 333-207132-14.

 

 

2

---

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 13, 2021

 

3

 

Acknowledgement and Acceptance of Special Servicer

 

 

April 13, 2021

 

 

BY EMAIL

 

 

245 Park Avenue Trust 2017-245P Commercial Mortgage Pass-Through Certificates, Series 2017-245P

 

Ladies and Gentlemen:

 

Reference is made to (i) that certain Trust and Servicing Agreement (the “TSA”), dated as of May 30,  2017, between J.P. Morgan Chase Commercial Mortgage Securities Corp., as Depositor, Wells Fargo Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National Association, as Trustee and Trimont Real Estate Advisors, LLC, as Operating Advisor, relating to the 245 Park Avenue Trust 2017-245P Commercial Mortgage Pass-Through Certificates, Series 2017-245P and (ii) that certain Co-Lender Agreement dated as of May 30, 2017 by and among the holders of the respective promissory notes evidencing the loan secured by real and personal property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18083107v.2

---

Acknowledgement and Acceptance of Special Servicer

Page 2 of 2

 

commonly known as 245 Park Avenue (the “Co-Lender Agreement”). Capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the TSA and Co-Lender Agreement, as applicable.

 

Pursuant to Section 7.1(d) of the TSA and Section 7 of the Co-Lender Agreement, the undersigned hereby agrees with all the other parties to the TSA that the undersigned shall serve as Special Servicer under, and as defined in, the TSA and the Co-Lender Agreement. The effective date (the “Effective Date”) of the appointment of the undersigned as Special Servicer shall be the date hereof. The undersigned hereby assumes, as of the Effective Date, all of the responsibilities, duties and liabilities of the Special Servicer under the TSA and the Co-Lender Agreement that arise on and after the Effective Date. The undersigned hereby makes, as of the date hereof, the representations and warranties set forth in Section 2.6 of the TSA mutatis mutandis with all references to “Agreement” in Section 2.6 of the TSA to include this Acknowledgement and Acceptance of Special Servicer in addition to the Agreement, with the following corrections with respect to type of entity and jurisdiction of organization: Situs Holdings, LLC is a duly formed limited liability company, validly existing in active status under the laws of the State of Delaware.  The undersigned further represents and warrants that it satisfies all of the eligibility requirements applicable to special servicers set forth in the TSA and the Co-Lender Agreement, including that it is a Qualified Replacement Special Servicer, and that all requirements and preconditions for the appointment of the undersigned as Special Servicer have been satisfied.

 

Situs Holdings, LLC’s address for notices pursuant to Section 11.4 of the TSA is as follows:

 

Situs Holdings, LLC

101 Montgomery Street, Suite 2250

San Francisco, California 94104

Attention: Curt Spaugh

E-mail: [email protected]

 

with a copy to:

 

Situs Group, LLC

5065 Westheimer, Suite 700E

Houston, Texas 77056

Attention: Legal Department

E-mail: [email protected]

  

and

 

[email protected].

  

Sincerely,

 

 

SITUS HOLDINGS, LLC

 

 

By: /s/ Adriana Boudreaux

Name: Adriana Boudreaux

Title: Deputy General Counsel

 

 

 

18083107v.2

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Traders push back timing of first rate cut to December
• T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos
• Rubrik, Inc. (RBRK) IPO Opens at $38.60, Priced at $32