27/08/2024 | Press release | Distributed by Public on 27/08/2024 16:45
Item 8.01 Other Events.
TheGrace Building Mortgage Loan, which constituted approximately 7.4% of the asset pool of the issuing entity as of its cut-off date, is an asset of the issuing entity and is part of a loan combination that is being serviced and administered under the trust and servicing agreement, dated as of November 18, 2020, relating to the Grace Trust 2020-GRCE Mortgage Trust filed as Exhibit 4.3 to the registrant's Current Report on Form 8-K filed on December 22, 2020 (the "GRACE 2020-GRCE TSA"). Pursuant to Section 7.01(c) of the GRACE 2020-GRCE TSA, Situs Holdings, LLC was removed as special servicer of The Grace Building Mortgage Loan and LNR Partners, LLC ("LNR"), a Florida limited liability company, was appointed as the successor special servicer of The Grace Building Mortgage Loan under the GRACE 2020-GRCE TSA.
In the interest of transaction management, this Current Report on Form 8-K is being filed to record that, effective as of August 27, 2024, The Grace Building Mortgage Loan will be specially serviced, if necessary, pursuant to the GRACE 2020-GRCE TSA, by LNR. LNR maintains its principal corporate offices at 2340 Collins Avenue, Suite 700, Miami Beach, Florida 33139 and its telephone number is (305) 695-5600.